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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

bugmenot

TF Legend
-- Edited Post --

Final Update

Official PDFs are now out
Magnus - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/mgtc.pdf


Reserve - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/rstc.pdf

Revision of Axis Bank Miles/Rewards Transfer Program - https://www.axisbank.com/docs/defau...les-rewards-transfer-terms-and-conditions.pdf



Update: 2nd August

MyZone - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/mztc.pdf
Privilege - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/pvtc.pdf
Select - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/sltc.pdf
Ace - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/actc.pdf



Magnus devaluation highlights
  1. Revision in welcome benefits, which are more or less matching with the leaked screenshots
  2. Change in annual fee - ₹12,500 + GST
  3. No more renewal benefit
  4. Spend criteria for fee waiver is now double - 25L
  5. Exclusion of government institutions and utilities MCCs for earning ERs
  6. RIP 25,000ER/1L milestone benefit
  7. Revised transfer ratio of 5:2
  8. 5L ER points cap for transfer
  9. Burgundy account scheme
Reserve devaluation highlights
  1. Spend criteria for fee waiver is revised to 35L
  2. Exclusion of government institutions and utilities MCCs for earning ERs
  3. Revised transfer ratio of 5:2
  4. 5L ER points cap for transfer
  5. Burgundy private account scheme


Aap Chronology Samajiye
  • 📄 Few leaked screenshots of PDF started floating for Magnus and Reserve having potential devaulation
  • 🐦Few folks on Twitter acknowledged the upcoming devaulation by contacting their RMs or insiders from CC department
  • 🎧 Customer Care team were like "Whot Daa Phaak" is going on. They were unaware about these news, some were saying yes and some no
  • 😡 Outrage | Speculation | Twitter Space | Points Transfer Tricks
  • ✋ Then rumour mills started about devaulation being on hold
  • 🔗 Official links of devaulation PDF started popping but "Darling of Cards" was missing
  • 🔌 Axis pulled the plug and links started showing "404 - Not Found" except for unlucky Flipkart card
  • 💣 BOMB - Axis Gift Edge devaulation
  • 📩 Mass credit card cancellation and notice seeking clarification regarding commercial transactions
  • 📉 Official PDF of Magnus and Reserve released
  • 📉 Official PDF of MyZone, Privilege, Select and Ace released


1. Flipkart - https://axisbank.com/docs/default-s...flipkart-credit-card-terms-and-conditions.pdf

Below given links are not opening now as they have been removed. You may check attached PDFs.

2. Reserve - https://axisbank.com/docs/default-s...-reserve-credit-card-terms-and-conditions.pdf
3. Select - https://axisbank.com/docs/default-s...k-select-credit-card-terms-and-conditions.pdf
4. Privilege - https://axisbank.com/docs/default-s...rivilege-credit-card-terms-and-conditions.pdf
5. MyZone - https://www.axisbank.com/docs/defau...-my-zone-credit-card-terms-and-conditions.pdf

By following the format, it is quite easy to create Magnus link, which could be https://axisbank.com/docs/default-source/default-document-library/credit-cards/axis-bank-magnus-credit-card-terms-and-conditions.pdf
 

Attachments

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45 days wait is already confirmed by burgundy customer care.
then after 45 days the branch should automatically check your AQB status and send you the email to upgrade.
if not you have to phone the branch to send the email
I called Burgundy CC today morning, they said only 30 lac TRV at individual level is valid. So, this begs the question which Burgundy CC is right?
 
I connected with my RM today. 2 updates:

1. The LTF Magnus offer with corporate salary account and salary credit of more than 3 lakh is discontinued. Now they are offering only Atlas.
2. LTF Magnus with Burgundy is only for 'true Burgundy' holders where 10lakh AQB or 30 lakh TRV is required. Burgundy with salary criteria are not getting LTF Magnus or 5:4
 
I connected with my RM today. 2 updates:

1. The LTF Magnus offer with corporate salary account and salary credit of more than 3 lakh is discontinued. Now they are offering only Atlas.
2. LTF Magnus with Burgundy is only for 'true Burgundy' holders where 10lakh AQB or 30 lakh TRV is required. Burgundy with salary criteria are not getting LTF Magnus or 5:4
Your RM doesn't know the facts. Please ask him to drop an email as it is contrary to the terms and Conditions published by Axis
 
I called Burgundy CC today morning, they said only 30 lac TRV at individual level is valid. So, this begs the question which Burgundy CC is right?
Most guys at customer care are not completely aware. They just check the Screen and if the Popup says not eleigible they will repeat. For me it showed no eligible which is understandable as I have not completed 45 days
 
Most guys at customer care are not completely aware. They just check the Screen and if the Popup says not eleigible they will repeat. For me it showed no eligible which is understandable as I have not completed 45 days
I’m in the same place.

The delay by Axis has kinda shortchanged me, because I have travel planned end October.

If the 45 days rule isn’t hard and fast for TRV, I may start singing Axis peans again🙂
 
I’m in the same place.

The delay by Axis has kinda shortchanged me, because I have travel planned end October.

If the 45 days rule isn’t hard and fast for TRV, I may start singing Axis peans again🙂
I have a travell planned in De c ..So i am relaxed. On 4th Oct the One Glance Statement will be generated. Post that I will give them a call though I would have completed only 35 days. If it happens its fine. If not will transfer 20 lacs more and get it converted in Nov and then remove 20 lacs.
 
I have a travell planned in De c ..So i am relaxed. On 4th Oct the One Glance Statement will be generated. Post that I will give them a call though I would have completed only 35 days. If it happens its fine. If not will transfer 20 lacs more and get it converted in Nov and then remove 20 lacs.

45 days is for 10l. I assume putting 15l can make someone eligible in 23 days. Or Am I wrong?
 
45 days is for 10l. I assume putting 15l can make someone eligible in 23 days. Or Am I wrong?
Nopes.. I beleive they want to see it in One Glance statement. For example I opened my account on 28th August and my One glance statement generated on 4th Sep showed 10 lacs but Average balance for Aug was showing as 1.6 lacs. This October it will show as above 10 lacs. This is just a wild guess..With Axis no one can be correct 🙂
 
I connected with my RM today. 2 updates:

1. The LTF Magnus offer with corporate salary account and salary credit of more than 3 lakh is discontinued. Now they are offering only Atlas.
2. LTF Magnus with Burgundy is only for 'true Burgundy' holders where 10lakh AQB or 30 lakh TRV is required. Burgundy with salary criteria are not getting LTF Magnus or 5:4
This is incorrect. I received the Magnus upgrade offer email today. Connected with customer care and gave my consent for the card. Checked on all T&C and nothing has been discontinued as your RM claims.
 
45 days is for 10l. I assume putting 15l can make someone eligible in 23 days. Or Am I wrong?
My reading

45 days is for 30L TRV.

1 quarter or 3 months is for 10L.

Again like someone mentioned, if it is quarter then Q2 is the possible criterion (Sept 30th).
If it is 3 months, then Oct 31st can still be a criterion.
In which case, OGS received in Nov should suffice as proof.

Anybody’s guess still !
 
If i open burgundy today for 10-15 lakh savings, am I assured of getting magnus for burgundy?
If not why should i keep 10-15 idle and then become eligible for magnus for burgundy and after that they reject my application
 
Just to let you guys know... Again axis is playing with it`s customers. Before it was said that a burgundy client would be eligible to the "new magnuns", then, that the true burgundy should have at least 10L on it`s saving account, and now the new information is that is not only 10L on the account, but 30L on whatever relationship with the bank. They just made a ton of people as clowns. I just spoke with them and this information was given, that 30L is needed, not 10L. Congratulations, Axis 🙂
 
Just to let you guys know... Again axis is playing with it`s customers. Before it was said that a burgundy client would be eligible to the "new magnuns", then, that the true burgundy should have at least 10L on it`s saving account, and now the new information is that is not only 10L on the account, but 30L on whatever relationship with the bank. They just made a ton of people as clowns. I just spoke with them and this information was given, that 30L is needed, not 10L. Congratulations, Axis 🙂
So a customer needs to continuously maintain BOTH 10L AQB in a savings account AND 30L TRV for a number of products with Axis Bank? Where Axis Bank can change the terms and conditions any moment as they see fit?

That's a hell lot of commitment to a bank in return for a credit card. Sounds like a one-sided abusive relationship.
 
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So a customer needs to have BOTH 10L AQB in a savings account AND 30L TRV for a number of products with Axis Bank? Where Axis Bank can change the terms and conditions any moment as they see fit?

That's a hell lot of commitment to a bank in return for a credit card. Sounds like a one-sided abusive relationship.
Absolutely and I will be canceling my magnus. For me it`s beyond the points now, it`s ethics.
 
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