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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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That transfer might stop soon. After that, only your MB points will have a 5:4 ratio, and ER to MB won't happen.
This will take more time than we think.
Most accelerated points are still ERs.
Gyftr, traveledge, Grabdeals, AEP etc.

Axis has to continue giving 5:4 for ERs till all these are sorted. This is a huge charge on technical perspective on all their platforms.

Especially Gyftr having 120 days timeline for ERs to get credited.
 
This will take more time than we think.
Most accelerated points are still ERs.
Gyftr, traveledge, Grabdeals, AEP etc.

Axis has to continue giving 5:4 for ERs till all these are sorted. This is a huge charge on technical perspective on all their platforms.

Especially Gyftr having 120 days timeline for ERs to get credited.
5:4 to 5:2 devaluation was from September 1. So 130 Days TAT will conclude by Jan 10th(gyftr/traveledge/grabdeals of Magnus). AEP is 5:2 for Magnus. Only thing left is one time transfer benefit for newly onboarded MB clients and accelarated points of MB switching to MB bucket.
 
@CMG Have you tried ordering any item via points plus pay and cancelling the same? Do they give full refund including edge points? From the terms, it seems they do. If that works, it is a good way to bring Magnus Burgundy balance to zero.
 

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    Screenshot_2024-01-05-20-43-52-41_40deb401b9ffe8e1df2f1cc5ba480b12.jpg
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I became eligible for burgundy magnus in the new year and just upgraded it using the link.
When can we transfer our old ER points at 5:4 ratio? After the card has been activated?
 
@CMG Have you tried ordering any item via points plus pay and cancelling the same? Do they give full refund including edge points? From the terms, it seems they do. If that works, it is a good way to bring Magnus Burgundy balance to zero.
You can do refundable hotel booking via Traveledge using points + card. It takes sometime to receive the refund and to credit back the points. I have no idea whether they have enabled this for MB points.
 
You can do refundable hotel booking via Traveledge using points + card. It takes sometime to receive the refund and to credit back the points. I have no idea whether they have enabled this for MB points.
I already tried that, but that doesn't work, as traveledge won't allow edge points until magnus burgundy reach zero even for direct flight and hotel bookings.

BTW, just tried with point and pay option and it worked like a charm😁. Placed cheap product with just enough points to bring MB to 0, paid rest via card. It brought MB to 0, transferred all remaining edge points to Accor, then cancelled points plus pay order and edge balance used for points plus pay is credited back instantly. Cash part is not credited yet, but got a mail saying it will be credited within 7 days. So, this is superb alternative 🤣. All within 5 mins.
 
I already tried that, but that doesn't work, as traveledge won't allow edge points until magnus burgundy reach zero even for direct flight and hotel bookings.

BTW, just tried with point and pay option and it worked like a charm😁. Placed cheap product with just enough points to bring MB to 0, paid rest via card. It brought MB to 0, transferred all remaining edge points to Accor, then cancelled points plus pay order and edge balance used for points plus pay is credited back instantly. Cash part is not credited yet, but got a mail saying it will be credited within 7 days. So, this is superb alternative 🤣. All within 5 mins.
A new trick has been revealed. Cheers! 🥂
 
I had 7200 points in MB bucket and 44K in ER bucket. I did the transfer to make MB balance zero...MB bucket got refilled and is showing 6780 instead of 7200. Do we know why this weird behaviour?

Now I have to do transaction worth 2000 to make MB balance to 6900 and initiate the transfer again. I thought emptying the ER bucket via MB was easier than this
 
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I had 7200 points in MB bucket and 44K in ER bucket. I did the transfer to make MB balance zero... Now MB bucket is showing 6780 instead of 7200. Do we know why this weird behaviour?

Now I have to do transaction worth 2000 to make MB balance to 6900 and initiate the transfer again. I thought emptying the ER bucket via MB was easier than this
A new trick has been posted. Check the comments above.
 
I already tried that, but that doesn't work, as traveledge won't allow edge points until magnus burgundy reach zero even for direct flight and hotel bookings.

BTW, just tried with point and pay option and it worked like a charm😁. Placed cheap product with just enough points to bring MB to 0, paid rest via card. It brought MB to 0, transferred all remaining edge points to Accor, then cancelled points plus pay order and edge balance used for points plus pay is credited back instantly. Cash part is not credited yet, but got a mail saying it will be credited within 7 days. So, this is superb alternative 🤣. All within 5 mins.
Just to make it clear, this trick is for Bug-2, not for Bug-1. (i.e. when u don't have any magnus burgundy points after getting a large bonus points).

 
I had 7200 points in MB bucket and 44K in ER bucket. I did the transfer to make MB balance zero...MB bucket got refilled and is showing 6780 instead of 7200. Do we know why this weird behaviour?

Now I have to do transaction worth 2000 to make MB balance to 6900 and initiate the transfer again. I thought emptying the ER bucket via MB was easier than this
Don't worry, happened exactly same with me. You can transfer 6700 and keep on doing that it won't go down more than this now. Just try, I did the same and had same.

In my case I made it exactly 5100, then transferred that but Axis made it 5004 somehow, but anyways I transferred in the batches of 5000 and later on 4900
 
Don't worry, happened exactly same with me. You can transfer 6700 and keep on doing that it won't go down more than this now. Just try, I did the same and had same.

In my case I made it exactly 5100, then transferred that but Axis made it 5004 somehow, but anyways I transferred in the batches of 5000 and later on 4900
Just transferred 6700. Now MB balance is showing 2316. Real weird these Axis guys are! Not sure where these numbers are coming from. ER bucket is >30K
 
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I already tried that, but that doesn't work, as traveledge won't allow edge points until magnus burgundy reach zero even for direct flight and hotel bookings.

BTW, just tried with point and pay option and it worked like a charm😁. Placed cheap product with just enough points to bring MB to 0, paid rest via card. It brought MB to 0, transferred all remaining edge points to Accor, then cancelled points plus pay order and edge balance used for points plus pay is credited back instantly. Cash part is not credited yet, but got a mail saying it will be credited within 7 days. So, this is superb alternative 🤣. All within 5 mins.
Where did you place the point plus pay order?
 
Rumour saying axis is planning to launch magnus with one time fee 30k+gst.. axis going indus way?
If they do, and after 2 years they devalue then it will be huge profit making strategy.
Ya post Jan 31 it won’t be LTF even for Burgundy customers. It will be 30k annual fees and not one time fees.
 
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