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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:
All Travel edge points ( including 4x additional) also will get 5:4 conversion ratio like other edge points earned on Burgundy Magnus eligible spends. 5:2 is only for non Burgundy Magnus credit cards ( like normal Magnus/Select etc) , debit card/banking earns and they will go into a seperate Edge Rewards bucket as seen in the Travel edge portal. Burgundy Magnus points will go into a new bucket after card activation and future spends on that card and they all will get 5:4 ratio benefit.
This is still not implemented by Axis yet.
Even for people who got MB upgrade back in September itself.
Only base credit card points are being credited to MB bucket. Rest of accelerated points are still going to ER bucket.
Most of the accelerated ERs (milestone, AEP, Traveledge, gyftr etc) are shown under savings bank in ER transaction history. There is a lot of work yet to be done by Axis.
 
Truest burgundy getting 5:4.

True burgundy only getting card, no 5:4.
I have Atlas, Samsung Infinite & Magnus. Burgundy opened on 4th Oct and never maintained more than 12L. No actual plans to keep continuing with M4B for more than few months too yet I am all good with all my points now, just left with 25K milestone & few months gyftr points now since will be switching to Infinia from next week onwards 😆
 
This is still not implemented by Axis yet.
Even for people who got MB upgrade back in September itself.
Only base credit card points are being credited to MB bucket. Rest of accelerated points are still going to ER bucket.
Most of the accelerated ERs (milestone, AEP, Traveledge, gyftr etc) are shown under savings bank in ER transaction history. There is a lot of work yet to be done by Axis.
I think Milestone points and AEPs and TR/Gyftr erc for old Magnus card will go into the normal ER bucket only , but they should get benefit of 5:4 ratio as per FAQ. For new magnus Burgundy cards , AEP will get posted only 45 days after the month end date of transaction. Hence we need to wait till middle of December to see where the AEPs go for the ones who got upgraded late Sep/early October.
 
For me, M4B is a travel edge card.
Almost all the time I saw Traveledge Prices to be bumped up. just an example few months back I was trying to book an international ticket. It was showing 43 K in both Smartbuy and Traveledge..But in traveledge it used to say Prices have changed and revised prices were showing as 58K. I checked for 2 days and booked via Smartbuy. I wanted to book via Traveledge for that 25K Rewards points on 1 lakh spends.
 
Almost all the time I saw Traveledge Prices to be bumped up. just an example few months back I was trying to book an international ticket. It was showing 43 K in both Smartbuy and Traveledge..But in traveledge it used to say Prices have changed and revised prices were showing as 58K. I checked for 2 days and booked via Smartbuy. I wanted to book via Traveledge for that 25K Rewards points on 1 lakh spends.
It happens sometimes but I have been able to book tickets at a good price till now.
 
With Axis C2C is best option
Even there I believe you still need to declare your income as 24L+, without that its most likely you won't be able to apply. Yeah it depends on them if they ask for salary slips/income documents during processing, but you still need to declare that if you want to have it.
 
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