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

 

[saketreddy]

Alright, to keep the thread alive, one question 😂
Does the M4B card still fetch us reward points on rent payments?
Just figuring out a way on how to spend 50k in 3 months (and get ER), as insurance, fuel is out of the window.

Yes it does

 

[BMR]

Do we get edge reward points for making credit card payments using axis burgundy debit card ?

 

[chasni]

Do we get edge reward points for making credit card payments using axis burgundy debit card ?

Once upon a time. Those were the good days.

 

[Rags]

Do we get edge reward points for making credit card payments using axis burgundy debit card ?

N o from 1st May

 

[Rags]

Yes it does

Are you sure, for upto 50k per monthly rent do we get ERs on M4B and Atlas?
Also on 1 lac for reserve?

 

[BMR]

Once upon a time. Those were the good days.

N o from 1st May

Yes, I read somewhere that ER points on debit card will be capped to 2k points from May 1st, but how do I make the payment right now before 1st may and what should be used ?

 

[Rags]

Yes, I read somewhere that ER points on debit card will be capped to 2k points from May 1st, but how do I make the payment right now before 1st may and what should be used ?

2k from 1st May is right, but cc payments excluded

 

[knowbie]

16K Gyftr GVs each month is the current plan, unless a better rewarding suggestion is made below.

 

[Riva]

Now that M4B does not give ER on gold and insurance, what's the next best card alternative?

 

[Riva]

Yes, I read somewhere that ER points on debit card will be capped to 2k points from May 1st, but how do I make the payment right now before 1st may and what should be used ?

If it's a HDFC card use payzap and make the payment using burgundy debit before April end. It takes about 2 days to credit.

 

[khaitan.rajesh29]

Do we get accelerated points on burgundy magnus for spends on purchase of gift cards from Woohoo beyond 1.5 lacs spend (considering its not grabdeal/gyftr)?

 

[khaitan.rajesh29]

Do we get accelerated points on burgundy magnus for spends on purchase of gift cards from Woohoo beyond 1.5 lacs spend (considering its not grabdeal/gyftr)?

@Abhishek012 - Sorry I didnt get the reason for this reaction. Was it too basic question and accelerated points will not be eligible?

 

[Shubham Yadav]

@Abhishek012 - Sorry I didnt get the reason for this reaction. Was it too basic question and accelerated points will not be eligible?

Dont go for his reaction

He is just smiling

 

[khaitan.rajesh29]

Dont go for his reaction

He is just smiling

Sure, thanks. Does anyone know if we get accelerated points for spends on Woohoo or its MCC is excluded?

 

[CMG]

Do we get accelerated points on burgundy magnus for spends on purchase of gift cards from Woohoo beyond 1.5 lacs spend (considering its not grabdeal/gyftr)?

If the mcc code is for MISC, you will get it. Do a translation and get the MCC code form customer care.

 

[Rags]

Do we get accelerated points on burgundy magnus for spends on purchase of gift cards from Woohoo beyond 1.5 lacs spend (considering its not grabdeal/gyftr)?

By the way which gift cards are you buying from woohoo? Ideally all available on Gyftr too right?

 

[hello11]

Has anyone got ERs for the last few days? My last ER credit was for a transaction on 18th April

 

[sid16]

Has anyone got ERs for the last few days? My last ER credit was for a transaction on 18th April

Have been getting them this week.

 

[CVR]

Has anyone got ERs for the last few days? My last ER credit was for a transaction on 18th April

Same for me

 

[PrinceHeart]

I have been following this thread since the beginning. I recently got normal paid magnus in nov last year, after its devaluation in sep 23 and recently another devaluation in apr 24. I have plan to close my magnus before nxt renewal. Unless the bank revaluate this card and add more features, which is very unlikely.

I just want to know, users here with magnus for burgundy, they have to park 10L in their saving, and they got paid card or ltf magnus with 5:4 redeem ratio, correct ? So basically thats around 80k fees in interest money per year. How that can make sense to anyone, i am unable to understand.