Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

[bugmenot]

-- 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

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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

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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

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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

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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

 

[K.R]

Does using old Magnus trigger points accumulation in the MB bucket by any chance? Like most of you, I am not planning to activate M4B right now.
I still have to do some forex transactions where Magnus gives the best 2% rate along with base rewards + 10% extra ER. By using the old Magnus I won't be losing the 5:4 conversion I currently have on ERs right?

As of now iam using Old Magnus and it shows 0 in MB bucket and allows me 5:4 on ER

 

[K.R]

Ye pehle batana tha / should have told this earlier 🙁

Sir no one knew about this. This is how it is panning out to be and based on individual experiences we are posting here for others benefit.🙂

 

[shashankrt]

Does using old Magnus trigger points accumulation in the MB bucket by any chance? Like most of you, I am not planning to activate M4B right now.
I still have to do some forex transactions where Magnus gives the best 2% rate along with base rewards + 10% extra ER. By using the old Magnus I won't be losing the 5:4 conversion I currently have on ERs right?

Arent same benefits available on Burgundy Magnus?

 

[K.R]

Arent same benefits available on Burgundy Magnus?

Yes but 5:2 conversion gets triggered and people might be waiting for some past ERs to be credited

 

[SS33]

Then you guys are Darlings of Axis..for me it shows reached Pune but post that it says Network delays 🤣 🤣 🤣

Well, doesn't really matter. Does it ! Anyways it'll probably be safe in its glamorous box for a couple of weeks 🙂

 

[shashankrt]

Yes but 5:2 conversion gets triggered and people might be waiting for some past ERs to be credited

I can understand ppl waiting for past ERs. However if you ahve transferred all existing ERs then why wait and not use new burgundy Magnus? or am I missing something?

 

[K.R]

I can understand ppl waiting for past ERs. However if you ahve transferred all existing ERs then why wait and not use new burgundy Magnus? or am I missing something?

Just an example. Iam waiting for October ER..some 60 K. The moment I spend on New Magnus this 60 K when credited will show a transfer ration of 5:2.
It might be that after 45 Days they may do a transfer to MB but we don't know yet. If you are not expecting any ER then Transfer all ER's and enjoy your new Magnus 🙂

 

[SM24]

My attempt to transfer to United failed.

Got this message
"Insufficient Balance".

I have in my account, 5x the balance I attempted to transfer.

Lol.

 

[K.R]

My attempt to transfer to United failed.

Got this message
"Insufficient Balance".

I have in my account, 5x the balance I attempted to transfer.

Lol.

You can try again. I got a message earlier yesterday that Max Transacion limit exhausted 🤣

 

[chasni]

Received the card just now even though I am not Burgundy Plus. 😛

 

[jchandra49]

I have a question, if I get a burgundy account in the month of Feb/March next year, is it still possible to transfer all my previous edge reward points in 5:4 ratio at that time

 

[shashankrt]

Just an example. Iam waiting for October ER..some 60 K. The moment I spend on New Magnus this 60 K when credited will show a transfer ration of 5:2.
It might be that after 45 Days they may do a transfer to MB but we don't know yet. If you are not expecting any ER then Transfer all ER's and enjoy your new Magnus 🙂

I dont have Magnus Burgundy yet and genius Axis is not even reflecting any RM associated to my account. Some random Virtual RM called saying he is my new RM 😱. Btw I opened Burgundy account through an existing RM. Show how much of a mess is Axis Bank.

 

[shashankrt]

I have a question, if I get a burgundy account in the month of Feb/March next year, is it still possible to transfer all my previous edge reward points in 5:4 ratio at that time

As of now - probably yes. However I dont have any trust on Axis and this can change anytime without any notice. Thats the reason everyone is pushing to convert their existing ERs.

 

[K.R]

Received both Primary and addon cards M4B

 

[jamesbond007]

Hello guys.. can someone please help me with these information and it will be really helpful
when did Axis come up with the FAQ for upgrade to Burgundy Magnus initially ?
Can someone please help me with all the versions of the FAQ which they have modified till now

 

[SM24]

You can try again. I got a message earlier yesterday that Max Transacion limit exhausted 🤣

Tried again. Done.

 

[Ankur dhanda]

I tried for 2 hours yesterday night..I failed. Today I was was successful in 30 minutes 🙂

Finally it got transferred now within 5min.

 

[seekndestroy99]

As of now iam using Old Magnus and it shows 0 in MB bucket and allows me 5:4 on ER

So how do you track transactions and payments made? Since Old Magnus is not appearing in the credit cards section

 

[seekndestroy99]

Received the card today through BlueDart, had requested support for expedited dispatch though (not sure if that helped)

 

[004archit]

Received the card just now even though I am not Burgundy Plus. 😛

How, can you explain