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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:
Meaning of AxIs is Extension
Another Uruttu
Reply,

After reviewing, we regret to inform you that you are currently not eligible to upgrade your Magnus Card to a Burgundy Magnus Credit Card.

However, we request that you revert to us post 25th November 2023, so that we can assist with the upgrade.

Please note: Card approval is subject to fulfillment of the credit policy of the bank.
 
Meaning of AxIs is Extension
Another Uruttu
Reply,

After reviewing, we regret to inform you that you are currently not eligible to upgrade your Magnus Card to a Burgundy Magnus Credit Card.

However, we request that you revert to us post 25th November 2023, so that we can assist with the upgrade.

Please note: Card approval is subject to fulfillment of the credit policy of the bank.
What is your Magnus Qualification 🤣
 
Meaning of AxIs is Extension
Another Uruttu
Reply,

After reviewing, we regret to inform you that you are currently not eligible to upgrade your Magnus Card to a Burgundy Magnus Credit Card.

However, we request that you revert to us post 25th November 2023, so that we can assist with the upgrade.

Please note: Card approval is subject to fulfillment of the credit policy of the bank.
Post 25th? whats the end date?
 
For me they said wait till November Mid for the refresh. An email is also shared to wait till Mid of November by Premium Experience.
I heard 3 different versions from Escalation desk on call
1) An eligibility list will be shared on 10th. To check on 11th
2) Check after Nov 15th Mid Month refresh
3) Check in 3rd week as refresh happens on 3rd week of every month
 
For me they said wait till November Mid for the refresh. An email is also shared to wait till Mid of November by Premium Experience.
I heard 3 different versions from Escalation desk on call
1) An eligibility list will be shared on 10th. To check on 11th
2) Check after Nov 15th Mid Month refresh
3) Check in 3rd week as refresh happens on 3rd week of every month
I got middle of nov mail as well as 25th nov mail. Not sure which one is correct, or both are wrong
 
I opened a Burgundy salary account on Sept 1. First the CSR told me I have to wait for 45 days (till Oct 15) to apply for M4B. After Oct 15 they told me to contact my RM, who in turn sent be back to the CSR team. Now the CSR is telling me to wait for 45 days from Oct 1 (no reason given) and that I will get an email after Nov 15. They are just dragging the matter on. I feel that when I contact them on Nov 16, there will be a new story. Anyone who has been in similar situation? What is the resolution?
 
I opened a Burgundy salary account on Sept 1. First the CSR told me I have to wait for 45 days (till Oct 15) to apply for M4B. After Oct 15 they told me to contact my RM, who in turn sent be back to the CSR team. Now the CSR is telling me to wait for 45 days from Oct 1 (no reason given) and that I will get an email after Nov 15. They are just dragging the matter on. I feel that when I contact them on Nov 16, there will be a new story. Anyone who has been in similar situation? What is the resolution?
Have you ever watched Loki serious in hotstar? There this TVA have multiple timeline branches and all have different variants, this is like the same, if we need to name the stunt of Axis, this could be, "Axiverse, The Burgundy Magnus saga"
 
Have you ever watched Loki serious in hotstar? There this TVA have multiple timeline branches and all have different variants, this is like the same, if we need to name the stunt of Axis, this could be, "Axiverse, The Burgundy Magnus saga"
In this saga either we get or not..decision is if we dont get eventually ltf are we prepared for fees. Also what are the benefits if paid for u.. is it worthwhile for u. If not get out and dont crack head over it. They themselves dont know what to do how to streamline process and keep it simple
 
I opened a Burgundy salary account on Sept 1. First the CSR told me I have to wait for 45 days (till Oct 15) to apply for M4B. After Oct 15 they told me to contact my RM, who in turn sent be back to the CSR team. Now the CSR is telling me to wait for 45 days from Oct 1 (no reason given) and that I will get an email after Nov 15. They are just dragging the matter on. I feel that when I contact them on Nov 16, there will be a new story. Anyone who has been in similar situation? What is the resolution?
Technically you are very much eligible. Drop a mail to premium experience and PNO.
 
In this saga either we get or not..decision is if we dont get eventually ltf are we prepared for fees. Also what are the benefits if paid for u.. is it worthwhile for u. If not get out and dont crack head over it. They themselves dont know what to do how to streamline process and keep it simple
Most of the magnus holders didnt got magnus because of ER of 5:4, it's very few people who really cares for the real benefit of conversion than the fees paid, they don't care about return benefit in terms of tata cliq vouchers, it's secondary. Many took magnus for return benefit with 10k voucher and BMS, Easy diner, visa infinite, plus 25k bonus of 1L spend atleast in 1 or 2 times per year itself is very beneficial.
 
If I do transaction on my old Magnus of 4 Lakh and than upgrade in next 10-15 days to BM will the enhanced ERP's which will be credited after 45 days also convert to Burgundy Points?
 
If I do transaction on my old Magnus of 4 Lakh and than upgrade in next 10-15 days to BM will the enhanced ERP's which will be credited after 45 days also convert to Burgundy Points?
Question is are you getting upgraded..if yes..then just get it done..you old card will be valid for 45 days
 
If I do transaction on my old Magnus of 4 Lakh and than upgrade in next 10-15 days to BM will the enhanced ERP's which will be credited after 45 days also convert to Burgundy Points?
Right now only core credit card points (Base rewards) seems to be getting converted to MB points.

Accelerated points like gyftr, grabdeals, milestones etc are still in ER bucket as per other users who have already got some points converted.
 
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