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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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I applied for Atlas yesterday and even that was on C2C.
It was showing under Auto approved cards but thought of keeping RM happy. I might need his help later 🙂
 
I applied for Atlas yesterday and even that was on C2C.
It was showing under Auto approved cards but thought of keeping RM happy. I might need his help later 🙂
Yeah as I said, C2C doesn't necessarily require documents, and for your Atlas there isn't even C2C required, your RM will also raise the same because its already showing preapproved. I applied atlas over call and got the card as well instantly even though I see nothing in pre-approved, no need to prove any docs and same will go for manually as well because last year I got Vistara Signature by applying manually online and got it without docs but since it wasn't my first card & Axis already knows my existing card limit & income which I declared and proved while getting the first credit card from them before so didn't need to prove anything this time.

Generally Axis asks for all sort of document when you are completely new to them. But if you already hold a card with limit, you might get other cards without any docs or anything even. But as far as I am aware when you do a manual application, they need to enter the number of the annual income, which you need to declare now its upto them if they verify it during your application process or not(if you already hold a card and already meet the eligibity), they won't else they might.

@mastfun applied M4B manually on the basis of salary, but I guess someone on the forum also applied through C2C so they can better clarify.
 
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My father has a Burgundy account but no Magnus card.

Can he apply directly for Magnus for Burgundy card??
If your father doesn't meet income Criterion for Magnus card as well as 10L C2C basis , then first try to get Vistara Signature card through RM and after a spend of 5 lakhs or more , you will get pre -approved offers in the apply for credit cards section in the app where you will find paid Magnus card and Atlas card sitting there , requiring no further documentation except only a good cibil/ Experian score. After that it should be possible to upgrade it to Magnus Burgundy card in a few months on AQB/TRV basis . This method worked for me ( last month) to get Burgundy Magnus ( LTF) , so it could for your parent also to get a paid version at least. otherwise include your name in Family Burgundy and you can try applying on the basis of Income/C2C with also 10L in savings account in your name.
 
Where to check what cards are Auto approved? When I goto Apply -> Credit card I get the message that I already have an Axis credit card.
Except pre-approved, you can also call customer care to get the card basis your existing limit & card. I got samsung infinite on the basis of my old magnus card in October 1st week and now got Atlas in November 1st week and few days back upgraded magnus to burgundy magnus through cc as well.

Basically just call them and ask them to check if they can apply magnus(or whatever card you need) and they will process it for you if possible and you will see card generated instantly post consent
 
@Viper1057 @K.R I just have Axis Magnus which I got upgraded to M4B. I got Magnus in April this year only. Probably I will need to check with CC for new offer.
Apart from this what is your experience on Limit enhancement offers from Axis? I got same limit that I used for card application using C2C
 
Anyone heard about Pay with points option with Axis? Read some tweet that someone's points got deducted instead of card payment, as merchant selected pay with points option.

If yes, what is minimum amount for this? And can it be done for online payments also?
 
Except pre-approved, you can also call customer care to get the card basis your existing limit & card. I got samsung infinite on the basis of my old magnus card in October 1st week and now got Atlas in November 1st week and few days back upgraded magnus to burgundy magnus through cc as well.

Basically just call them and ask them to check if they can apply magnus(or whatever card you need) and they will process it for you if possible and you will see card generated instantly post consent
Is it possible to get Selected LTF card for Burgundy customers like this method , instead of going through RM? There is a 10000 ER points on Select card activation and we can get it converted on 5:4 basis now , before starting to use the new Magnus card as then conversion becomes 5:2
 
Except pre-approved, you can also call customer care to get the card basis your existing limit & card. I got samsung infinite on the basis of my old magnus card in October 1st week and now got Atlas in November 1st week and few days back upgraded magnus to burgundy magnus through cc as well.

Basically just call them and ask them to check if they can apply magnus(or whatever card you need) and they will process it for you if possible and you will see card generated instantly post consent
Is it possible to transfer Samsung welcome benifit points in 5:4 ratio, after converting to burgundy mangnus
 
Except pre-approved, you can also call customer care to get the card basis your existing limit & card. I got samsung infinite on the basis of my old magnus card in October 1st week and now got Atlas in November 1st week and few days back upgraded magnus to burgundy magnus through cc as well.

Basically just call them and ask them to check if they can apply magnus(or whatever card you need) and they will process it for you if possible and you will see card generated instantly post consent
As per my experience, they can only check for upgrade on existing card. I called and checked and they said the same.
 
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