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

 

[neogen]

Sure…I think all cards have a life cycle…they launch with a bang and fizzle out after a period of time. But since I am not making separate efforts to get Burgundy, it works for me till they allow. I agree with you that it’s not worth it if anyone were to make exceptional efforts to get Burgundy only for 5:4. Everyone should evaluate the worthiness depending on their spend pattern and circumstances

Burgundy is super easy to get, burgundy private would be

Point being, we don't know till when they would allow this 5:4?

I have now three Axis card Atlas, Magnus and VI. I dont have Savings Account with Axis. It does make sense for me to have savings account with them, if I have to settle ~3L CC bill every month.

 

[Harry1]

How did you come up with 14% though? That would require spending greater than 15L/month. That's a small fraction of people or it would be a one time thing in a year.

That's what I wrote.

 

[neogen]

People who have a spend of 3-4l per month, do you guys eat silver for breakfast and gold for dinner?

Removing any rental, insurance, fees, or business payments, it is even hard for me to cross 75k per month.

Zunka bakri to eat

Expenses: education, travel, hotel, dining, shopping etc..

 

[Harry1]

My spend doesn't include any govt or utility spend and or any other MS BS expense.. I do have 15 18 L annual travel expense.. but will never use Axis's travel edge, rest are normal HH expenses

Now, please help me with the maths .. and lets keep it simple no MS, no gyftr etc..

ER till 1.5L = 9000
ER from 1.5 to 3L = 26250

For 3L monthly spend total ER: 35250.. at 5:2 convert to 14100.. thats merely 4.7%. What part did I miss?

Lets not bring that burgundy etc into the picture, thats a temp stop gap carrot thrown by axis.

Lets not bring that burgundy etc into the picture, thats a temp stop gap carrot thrown by axis.

This is what u missed😅. A true hni with so much spends can easily maintain 1cr in demat or 30L FD to have Burgundy.

 

[MilesMax]

Atlas would be 10% if all spends are on travel

Sure on Travel atlas is 10% Flat
3L - Magnus is 10.3%
2L - Magnus is 12%

For monthly travel spends beyond 3.8L Atlas flat 10% is better as Magnus starts to lose the edge.

 

[neogen]

This thread went from
Deval 1 is end of axis, they screwed us --> yay our voices matter and Axis is on the backfoot --> wtf axis don't listen to us deval 1 was better than deval 2.

🍿😎 Can't wait for the next twist!

You missed 🎥

🍿 🍿 🍿

 

[neogen]

Lets not bring that burgundy etc into the picture, thats a temp stop gap carrot thrown by axis.

This is what u missed😅. A true hni with so much spends can easily maintain 1cr in demat or 30L FD to have Burgundy.

Sir jee, that 5:4 is a temp carrot 🥕 🥕 🤣🤣🤣not the burgundy. Burgundy is super easy to get. 🍅 🍅 🍅

 

[neogen]

Sure on Travel atlas is 10% Flat
3L - Magnus is 10.3%
2L - Magnus is 12%

For monthly travel spends beyond 3.8L Atlas flat 10% is better as Magnus starts to lose the edge.

12% magnus if booking done through travel edge?

Atlas 10% is without traveledge btw

 

[MilesMax]

Unless you don't hold Infinia or similar,
If someone has Magnus, I don't see any point in downgrading it to Atlas.

Even with devaluation (without Burgundy) Magnus still provides a better base reward, better accelerated reward and far better non-spend-based reward for the difference of 7.5k.

 

[MilesMax]

12% magnus if booking done through travel edge?

Yes. If you are spending 2L on Travel with Magnus, TravelEdge is probably the way to go.

 

[hrish88]

One thing i learned that with axis is very flexible.when it launched Magnus there was not milestone reward of 25000 and 5:4 transfer ratio and partners.

Axis launched these features later to gain more customers and removed it when it has gone out of hand. tomorrow if many people cancel it then axis will again come up with something to make this card attractive again.so the cycle will continue.

 

[neogen]

Yes. If you are spending 2L on Travel with Magnus, TravelEdge is probably the way to go.

No, its not. Its always preferred, that Hotel bills are not paid in advance through Traveledge, rather settled at the time of checkout. And, I have learnt a hard lesson in my life, always book directly.. be it Hotel or Airlines, and always have flexible booking that I cancel without any penalty.

 

[rj_arora]

Very unlikely. This implies that the age old bug is fixed.

Can you please share some screenshots to justify this?

I can pay education fees though, right? Without any charges

 

[Harry1]

Sir jee, that 5:4 is a temp carrot 🥕 🥕 🤣🤣🤣not the burgundy. Burgundy is super easy to get. 🍅 🍅 🍅

Everything is temporary only. After 100 years, even you or I won't be there🤣.

We can only discuss and plan for what is disclosed already. Rest is just speculation. And will again have to plan and see if there is charges in future. No point in taking action in advance based on something which is not yet told.

 

[K.R]

TravelEdge gives 5X up to 2L and ~3x after 2L. So yes, if solely talking about travel, then you can yield 24% upto 2L.

As per my experience the tcikets were always more expensive than on Smartbuy. Last2 time I booked fligt tickets I tried on Traveledge so that I can easily reach 100K spends I had to book on Smartbuy. This may be because Smartbuy has 3-4 Travel Partners while Travelodge has only one. One can even check now.. Traveledge is useless

 

[neogen]

Everything is temporary only. After 100 years, even you or I won't be there🤣.

We can only discuss and plan for what is disclosed already. Rest is just speculation. And will again have to plan and see if there is charges in future. No point in taking action in advance based on something which is not yet told.

Now you got the point, finally. Phew 🍿 🎥

 

[rohitb]

No, not all. I have CC spend of ~3L per month. Did the maths, nowhere Magnus is attractive and don't see any rationale.

Further, will never keep all eggs in one basket.

How is this not attractive ? (For high spenders)
You are going to get 12/200 for 1.5 and 35/200 for next 1.5 every month. That is close to 12% in ER and approx 10% return wehn converted to miles (if you are burgundy)
Now why should you get burgundy. If you put 10L in saving you lose approx 20-30k per year . You are getting 4.32lakh+ ER points which can be converted to around 3.45 lakh FFP. Considering 1 rs as fair value you are getting approx 3.2 lakh which is 9% net return. If you use them on accor and FFP 50-50 , your return rises to 12.5%.

And we have not even considered travel edge here.

(Post burgundy devaluation may be not)

 

[Vickymaster1010]

But after paying the renewal fees ,we don't know if it will be devalued again by the time we plan to book on Travel edge

I don't think any more devaluation wil have. 11.8k u get bookmyshow and also eazydiner rewards

 

[rohitb]

As per my experience the tcikets were always more expensive than on Smartbuy. Last2 time I booked fligt tickets I tried on Traveledge so that I can easily reach 100K spends I had to book on Smartbuy. This may be because Smartbuy has 3-4 Travel Partners while Travelodge has only one. One can even check now.. Traveledge is useless

Without enough data points it's just a feel. 100-200 odd rs. On a ticket worth 10k is not going to mean much if it takes my returns from 4.8% to 24% , or will it ? (Yes infinia is there but we are restricted with tickets worth some 56k in a day over there for 16% return)

 

[neogen]

How is this not attractive ? (For high spenders)
You are going to get 12/200 for 1.5 and 35/200 for next 1.5 every month. That is close to 12% in ER and approx 10% return wehn converted to miles (if you are burgundy)
Now why should you get burgundy. If you put 10L in saving you lose approx 20-30k per year . You are getting 4.32lakh+ ER points which can be converted to around 3.45 lakh FFP. Considering 1 rs as fair value you are getting approx 3.2 lakh which is 9% net return. If you use them on accor and FFP 50-50 , your return rises to 12.5%.

And we have not even considered travel edge here.

(Post burgundy devaluation may be not)

Too many ifs.

keeping it super simple, Magnus is dead now. Keep the card till next renewal.