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

 

[NikhilTravelLover]

There is a spelling mistake in Magnus.
Instead of 'g' , I prefer letter 'd'. Identically looking letter, but changes the meaning all together.
Ironically, it justify this card journey.
You know what I means. Thumbs up if you understand.

 

[BhavyaDoshi]

Does this mean I have 217k + 182k points?

 

[Deleted member 9785]

Does this mean I have 217k + 182k points?

yes till axis blocks for some lame reason

 

[BhavyaDoshi]

yes till axis blocks for some lame reason

Lol, I just received my MB, I only had 217k points. I don't know how these 182k points appeared out of nowhere.

 

[saketreddy]

Lol, I just received my MB, I only had 217k points. I don't know how these 182k points appeared out of nowhere.

Are u able to transfer ER or MB now?

 

[BhavyaDoshi]

Are u able to transfer ER or MB now?

I haven't tried

 

[saketreddy]

I haven't tried

As lomg as they don't take them back, you have 399k points.

 

[live_and_let_live]

Does this mean I have 217k + 182k points?

you have total 217k ER... that includes 182k MB ER.

 

[sourpai]

Does this mean I have 217k + 182k points?

No...

182K points is subset of 217K points. Totally you have 217K points

 

[callsignmaverick]

Does this mean I have 217k + 182k points?

No it means you have 217966 points of which 182160 are burgundy, so they can be transferred in the 5:4 ratio. [At least this is how it works for me] Considering that you just got the MB card it might be a bug as well that some of your points are now under the Burgundy bucket.
Can you try transferring just to see what ratio you are getting?

 

[Viper1057]

Does this mean I have 217k + 182k points?

No, it means you have 217,966 points only. Edge rewards are superset of Magnus Burgundy and normal edge points.

 

[BhavyaDoshi]

No it means you have 217966 points of which 182160 are burgundy, so they can be transferred in the 5:4 ratio. [At least this is how it works for me] Considering that you just got the MB card it might be a bug as well that some of your points are now under the Burgundy bucket.
Can you try transferring just to see what ratio you are getting?

Oh okay, I’ll try
Also do you know whether burgundy debit card points can be transferred at 5:4 or not?

 

[Viper1057]

Oh okay, I’ll try
Also do you know whether burgundy debit card points can be transferred at 5:4 or not?

Yes, can be transferred as of now.

 

[callsignmaverick]

Oh okay, I’ll try
Also do you know whether burgundy debit card points can be transferred at 5:4 or not?

Yes for Magnus burgundy both credit & debit cards are transferred in 5:4 ratio.

 

[abhim]

Oh okay, I’ll try
Also do you know whether burgundy debit card points can be transferred at 5:4 or not?

All ER that you earn across your cards (debit and credit such as Select) will transfer at 5:4 until you keep your Magnus Burgundy active. You just have to make sure you keep using your credit card to keep earning some burgundy points to allow for transfer at this ratio.

As has been the case for some members on this forum, if the Burgundy bucket becomes empty, you will not be able to initiate any transfers until you gain some ER from your Magnus Burgundy card.

 

[harshar]

are they going to move remaining ER points to the MB points bucket?

No...

182K points is subset of 217K points. Totally you have 217K points

 

[sourpai]

are they going to move remaining ER points to the MB points bucket?

Once he redeems all 187K points and makes MB bucket zero, then remaining points will come to MB bucket (either all at once or in batches). It wont happen before that

 

[Swastik]

I've a doubt regarding Magnus Lounge Access,

I devaluation paper says only 10 lounges in india can be accessed via Priority Pass

But people seem to be using Magnus PP for any & every lounge ,even taking guests ,

Can anyone explain this ?

I'm scared to used Magnus PP in india ,what if they charge it on my card!

 

[Harry1]

I've a doubt regarding Magnus Lounge Access,

I devaluation paper says only 10 lounges in india can be accessed via Priority Pass

But people seem to be using Magnus PP for any & every lounge ,even taking guests ,

Can anyone explain this ?

I'm scared to used Magnus PP in india ,what if they charge it on my card!

If u r afraid of getting caught, don't exploit the loopholes 😅.

 

[abhim]

I've a doubt regarding Magnus Lounge Access,

I devaluation paper says only 10 lounges in india can be accessed via Priority Pass

But people seem to be using Magnus PP for any & every lounge ,even taking guests ,

Can anyone explain this ?

I'm scared to used Magnus PP in india ,what if they charge it on my card!

I might be misunderstanding your statement but I believe that T&C means using your Priority pass card to access a lounge within India is limited to the 10 lounges mentioned. The other lounges + guest visit should be accessed by swiping your Magnus card directly for authorisation.

Regardless, I think lounge receptionists can normally see whether you will be charged for access so you should get that info before you confirm your entrance.