• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

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:
Dear Mr.XXXXXX,

Thank you for writing to Axis Bank.

This is with reference to your e-mail dated 16/11/2023, we understand your concern regarding the upgradation of your existing Magnus credit card to new Magnus Burgundy credit card based on Burgundy relationship. We will definitely assist you regarding your concern.

As per telephonic conversation dated 16/11/2023 at 04:57 PM, we had initiated an internal interaction to check the feasibility for Magnus credit card upgrade and same has been resolved. We reviewed the possibility for upgradation and we request you to reach out our PBC (Phone banking team) post 20/11/2023 and before 30/11/2023 for further proceedings (Please note the offer is valid till 30th November 2023).

Call on 1800 419 0065 (PBC) & give your consent to upgrade to new Magnus Credit Card for Burgundy. Once the consent for upgrade is given by you, the existing MAGNUS Credit Card will then be upgraded to new Magnus Credit Card for Burgundy and a new card will be dispatched to you.

It's important to note that the issuance of the card is subject to Banks internal policies.

Meanwhile, we request you to keep maintaining the burgundy requisite.

As a premium customer, your satisfaction is our top priority. If you have any question or require further assistance, please don't hesitate to respond to this email.

We would appreciate your understanding in this matter and hope to serve you better in the future.

We thank you for banking with us & look forward to your continued patronage.

We assure you the best of our services at all times.

The reference number for this interaction is XXXXXXX

For an instant response, you may also “CHAT” with us from https://www.axisbank.com/support or for any other query you may visit below links.

Personal Phone Banking Link

NRI Phone Banking Link

Business Phone Banking Link

Agri Rural Phone Banking Link

Burgundy Phone Banking Link

Forex Card Phone Banking Link

Warm Regards,
XXXXXXX – (Premium Customer Support)
Team Axis Bank
Dil Se Open



Go from Help to Self-Help with #EASYBANKING Video Series.

Visit https://www.axisbank.com/support to check out our self-help videos in the Video Library.



Axis Bank will not ask for your CVV, OTP, PIN, Card Number, Passwords, etc. Do not share these details with anyone.

Practice safe banking! Visit Fraud Awareness Repository (axisbank.co.in)

Report any financial or cyber related crimes immediately to Ministry of Home Affairs (MHA) – National Cyber Crime Reporting Portal via their toll-free helpline number ‘1930’ or website –https://cybercrime.gov.in/ .
 
I am done with this all. Will just do an FD/MF investment with those burgundy amount requirements and get hands on my new infinia through ULIP. Good bye folks, its been a pleasure to come up since last 50pages till now.
 
Dear Mr.XXXXXX,

Thank you for writing to Axis Bank.

This is with reference to your e-mail dated 16/11/2023, we understand your concern regarding the upgradation of your existing Magnus credit card to new Magnus Burgundy credit card based on Burgundy relationship. We will definitely assist you regarding your concern.

As per telephonic conversation dated 16/11/2023 at 04:57 PM, we had initiated an internal interaction to check the feasibility for Magnus credit card upgrade and same has been resolved. We reviewed the possibility for upgradation and we request you to reach out our PBC (Phone banking team) post 20/11/2023 and before 30/11/2023 for further proceedings (Please note the offer is valid till 30th November 2023).

Call on 1800 419 0065 (PBC) & give your consent to upgrade to new Magnus Credit Card for Burgundy. Once the consent for upgrade is given by you, the existing MAGNUS Credit Card will then be upgraded to new Magnus Credit Card for Burgundy and a new card will be dispatched to you.

It's important to note that the issuance of the card is subject to Banks internal policies.

Meanwhile, we request you to keep maintaining the burgundy requisite.

As a premium customer, your satisfaction is our top priority. If you have any question or require further assistance, please don't hesitate to respond to this email.

We would appreciate your understanding in this matter and hope to serve you better in the future.

We thank you for banking with us & look forward to your continued patronage.

We assure you the best of our services at all times.

The reference number for this interaction is XXXXXXX

For an instant response, you may also “CHAT” with us from https://www.axisbank.com/support or for any other query you may visit below links.

Personal Phone Banking Link

NRI Phone Banking Link

Business Phone Banking Link

Agri Rural Phone Banking Link

Burgundy Phone Banking Link

Forex Card Phone Banking Link

Warm Regards,
XXXXXXX – (Premium Customer Support)
Team Axis Bank
Dil Se Open



Go from Help to Self-Help with #EASYBANKING Video Series.

Visit https://www.axisbank.com/support to check out our self-help videos in the Video Library.



Axis Bank will not ask for your CVV, OTP, PIN, Card Number, Passwords, etc. Do not share these details with anyone.

Practice safe banking! Visit Fraud Awareness Repository (axisbank.co.in)

Report any financial or cyber related crimes immediately to Ministry of Home Affairs (MHA) – National Cyber Crime Reporting Portal via their toll-free helpline number ‘1930’ or website –https://cybercrime.gov.in/ .
All they needed to do was, send out such emails to everyone, who was eligible, immediately after they became eligible.
But Lax-is being Axis...

Our correct balances didnt trigger anything at their end, till we got triggered and set the house on fire...
 
All they needed to do was, send out such emails to everyone, who was eligible, immediately after they became eligible.
But Lax-is being Axis...

Our correct balances didnt trigger anything at their end, till we got triggered and set the house on fire...
even this they did not email me initially though they only called me up and updated me.. I chased them up for 2 days... PNO is in his/her own world 🙂

Still Iam not confident until it actually happens 🙂
 
What I was told is that they had delayed the 15th refresh as this is the last month. So they wanted to check thoroughly all the October OGS eligible candidates. Else this happens mid of every month
 
Use your Regalia for buying Mobiles/Electronics etc on EMI on Amazon/Flipkart etc..they will keep increasing your limit. HDFC is very good at increasing the Limits. Also if you spend 1 lacs plus for last 6 months you have a fair chance of upgrade. Unlike Magnus etc since its a Invite only you have no say why you are not eligible etc.. Just be a good customer and they will eventually upgrade you.
Best is settle with DCB first and then try for Infinia.. There is a separate thread on success stories for Infinia
 
Use your Regalia for buying Mobiles/Electronics etc on EMI on Amazon/Flipkart etc..they will keep increasing your limit. HDFC is very good at increasing the Limits. Also if you spend 1 lacs plus for last 6 months you have a fair chance of upgrade. Unlike Magnus etc since its a Invite only you have no say why you are not eligible etc.. Just be a good customer and they will eventually upgrade you.
Best is settle with DCB first and then try for Infinia.. There is a separate thread on success stories for Infinia

I would have liked to take a DCB first but honestly, the limited acceptance is an issue for me.
The merchants where I spend money only accept Visa or Mastercard.
 
I would have liked to take a DCB first but honestly, the limited acceptance is an issue for me.
The merchants where I spend money only accept Visa or Mastercard.
It is accepted at most of the places. But yes one needs to have a backup card. similar to Amex. My cousin uses it and he is happy with it
 
I called today as well after receiving the email. CC said I am not a true burgundy. 🙂
I think we should call the PBC every morning to find out , if the approved list for upgrade has been uploaded or not into the system , as the default rejection message will get updated and change on that D-day. Please post when someone gets card upgraded after calling phone bank support 😂
 
It is accepted at most of the places. But yes one needs to have a backup card. similar to Amex. My cousin uses it and he is happy with it

I use my cards for business payments online where only Visa and mastercard are accepted. I hardly spend money on other stuff, maybe 10k a month at best (If I'm not traveling)

My personal spends are very less, so DCB will not be of any use to me.
 
I use my cards for business payments online where only Visa and mastercard are accepted. I hardly spend money on other stuff, maybe 10k a month at best (If I'm not traveling)

My personal spends are very less, so DCB will not be of any use to me.
If you are also looking for Miles and as I understand that you are sure that the websites you use does not accept non Visa and Mastercard then you should go for Atlas or Citi Premier Miles. If you are not interested in Miles then Apay. You can also try for Emerald Metal if it is showing in your Upgrade offer.
 
Finally applied for the M4B card offline through RM. Hope there are no more surprises before approval.

What is the typical timeline for the new M4B (not upgrade) to get approved?
Finally got the Magnus for Burgundy card approved.

Oct 11: Upgraded to Burgundy Salary Account
Nov 6: Received the first OGS
Nov 7: Called the RM to apply for the card. A guy came to physically collect the documents.
Nov 14: Since the approval wasn't progressing, dropped a mail to PNO and premium experience.
Nov 17: Received the approval message and the digitial card is also reflecting in the app.

Waiting to receive the physical card.

Thank you all for your guidance which helped me take the right steps at the right time.
 
Back
Top