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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

Last edited:
Did anyone got mid month upgrades for magnus to magnus for Burgundy. If no then this new 14th November thing is a big Goli they are giving 🙂

I just had call with escalation desk. The guy read out the comments against my request which was shared by my RM and by me. Customer is is eligible as on 30th September. Customer has to wait till mid of November for the Mid month refresh. I have asked the Guy to mark them to send me an email what you have read.
I feel there could be some truth to it. Because they ask you wait for 45 days. So, someone who has started maintaining the balance from 1st of the month, they would need to wait for 45 days (max time) if Axis refreshes the eligibility every middle of month.
 
Did you write an email to pno or MD desk by attaching all 3 OGS?
PNO is an automatic reply BOT. It's non existant. I have clearly stated that I'm my Complain to RBI. RBI gave me 30 days to wait if Axis doesn't resolve I can get back to them. I have sent a reminder to axis CEO as a courtesy 😊
 
PNO is an automatic reply BOT. It's non existant. I have clearly stated that I'm my Complain to RBI. RBI gave me 30 days to wait if Axis doesn't resolve I can get back to them. I have sent a reminder to axis CEO as a courtesy 😊
Did your BM apply the upgrade for you?

For me even RM said they asked her to wait till Nov 2nd week and then check again.
 
I feel there could be some truth to it. Because they ask you wait for 45 days. So, someone who has started maintaining the balance from 1st of the month, they would need to wait for 45 days (max time) if Axis refreshes the eligibility every middle of month.
I'm October I felt the same truth when they told wait till mid of October. In Mid of October they told wait for Nov OGS. Now they are saying mid of November. They are buying 1 week so that they get less calls. Mid of November they will Say wait another week and they it's over 😁😁😁
 
I'm October I felt the same truth when they told wait till mid of October. In Mid of October they told wait for Nov OGS. Now they are saying mid of November. They are buying 1 week so that they get less calls. Mid of November they will Say wait another week and they it's over 😁😁😁
Ohhh... then there is a pattern.
 
I have a question. As per the updated Magnus TnC, "Earn 12 eDGE Reward points per Rs.200 on spends up to Rs.1.50 Lakhs and 35 eDGE Reward points per Rs.200 on incremental spends above Rs.1.50 lakhs in a calendar month"

However, when I did a transaction of Rs. 2.25L, I only got 13500 RPs, which means it's calculated as 12RP/Rs200 on the whole amount.
Is that how they calculate? Since this is a single transaction, it won't be considered for cumulative spend over 1.5L?
 
I have a question. As per the updated Magnus TnC, "Earn 12 eDGE Reward points per Rs.200 on spends up to Rs.1.50 Lakhs and 35 eDGE Reward points per Rs.200 on incremental spends above Rs.1.50 lakhs in a calendar month"

However, when I did a transaction of Rs. 2.25L, I only got 13500 RPs, which means it's calculated as 12RP/Rs200 on the whole amount.
Is that how they calculate? Since this is a single transaction, it won't be considered for cumulative spend over 1.5L?
The ER's of 23 Per 200 above 1.5 lacs would be credited at a later point of time
 
I called up the escalation team, they said I am eligible but had to call them back on 15th of Nov. I asked them to send a mail regarding the same and they refused 😀
 
I called up the escalation team, they said I am eligible but had to call them back on 15th of Nov. I asked them to send a mail regarding the same and they refused 😀
There is seperate number for escalation team or you are talking about the Burgundy support itself?
Btw Axis call support doesn't have access to email and email support doesn't have access to call logs 🥲
 
Its just another 5-6 days.. But that doesnt mean you stop calling them.. Keep them engaged.. 2 Calls every day and 1 email Telling them how unprofessional Axis Bank is 🤣
 
I called up the escalation team, they said I am eligible but had to call them back on 15th of Nov. I asked them to send a mail regarding the same and they refused 😀
I called the regular Burgundy line, after a new digital card verification process

With Agent 1
Magnus for Burgundy?
In a ‘Vo kya hotha hain’ tone

With Agent 2
Me: Do you know what is Magnus for Burgundy?

Agent 2: Magnus credit card hain sir. Burgundy savings account hain.

Hari Om
 
What it Looks is that there would be a refresh mid November, but Customer care or Premium experience is not able to commit as they are not sure if our customer ID will become eligible. They have commited in the past based on TNC's but as people didnot get upgraded they were bombarded. Also as of now there is no process of upgrade unless the link is enabled. Green Channel etc are just some fancy terms. The RM and BM has no role/power here as well
 
What it Looks is that there would be a refresh mid November, but Customer care or Premium experience is not able to commit as they are not sure if our customer ID will become eligible. They have commited in the past based on TNC's but as people didnot get upgraded they were bombarded. Also as of now there is no process of upgrade unless the link is enabled. Green Channel etc are just some fancy terms. The RM and BM has no role/power here as well
I feel the same.
 
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