Devaluation Axis Magnus Credit Card Devalued - T&C Update May 2025

[Rishi Mittal]

Can you please explain? I am unable to understand the devaluation aspect. Is it because you are now limited to your credit limit? Our something else too

• ✅ Earn 12 points per ₹200 spent up to ₹1.5L/month
• 💎 Earn a massive 35 points per ₹200 on spends above ₹1.5L up to your credit limit + ₹1.5L
• ➡️ Beyond that, it’s back to 12 points per ₹200 (Earlier there was no cap and you continue earning 35 points per ₹200)

 

[canitin]

Assume you had a limit of 5 lakhs. Want to spend 50 lakhs for genuine car purchase. You would put remaining amount into credit card as excess balance and then swipe. You would have walked away to with 28% reward rate on this purchase meaning trvale or hotel stay worth ₹ 13.5 lakhs... You can take your family for 5 vacations easily in those many points.

They now capped this to only hotels stays wort 1.82 lakhs versus ealrier ₹ 13.5 lakhs

As far as I know most of the M4B card holders already have good credit limit. It will not impact majority of the card holders (except for few who are using it unethically). Purchasing luxury car is a one of an event and does not happen regularly (unless you are a billionaire).

 

[m4b]

How ? ?

for 2nd one, I am unsure how they would categorise the MCC on their own.
The first point is a good one. Like stay within your limits but getting base rewards. Folks may increase the CL in this case.

 

[msankadi]

So if i have a limit of 15L..i will get accelerated rewards from 1.5l to 16.5l but no more in a month.. Is that the right understanding or something else?

 

[Farhad sekh]

Kaha gaya, Ali Hajiani ka credit card master class!!

 

[PrinceHeart]

So if i have a limit of 15L..i will get accelerated rewards from 1.5l to 16.5l but no more in a month.. Is that the right understanding or something else?

Yes exactly.

Now the question is, is this calendar month or the month date is according to the billing date.

I lost so many points in the past cause of that. And the customer care people always deny this saying the points are calculated in billing month. Then i make points between billing months and the accelerated points are not added saying the points are calculated for calander month.

Now i change my statement date as 1st of every month. So both calander month and billing month r same.

 

[knightknight]

Sorry, a separate question, Is there still a possibility of getting LTF M4B with 3L+ monthly salary account? I have some big spends coming up, so thinking about it.

 

[canitin]

Sorry, a separate question, Is there a possibility of getting LTF M4B with 3L+ monthly salary account? I have some big spends coming up, so thinking about it.

Not possible. Axis is not issuing LTF anymore.

 

[sid16]

So how exactly will Axis identify merchant category? If not MCC, there has to be something definitive.

 

[jonamdhar]

How can we increase the credit limit on the card? I do not see any option on the app.

 

[Wealth is my birth right!]

So how exactly will Axis identify merchant category? If not MCC, there has to be something definitive.

Based upon name of the spends

How can we increase the credit limit on the card? I do not see any option on the app.

Send payslips to the Magnus mail id pls

 

[ankurarora898]

How can we increase the credit limit on the card? I do not see any option on the app.

Rm told me 3 options for this
1 ITR
2 utilisation
3 other card basis with high limit

 

[jonamdhar]

Rm told me 3 options for this
1 ITR
2 utilisation
3 other card basis with high limit

Will Try this

 

[Dragon_slayer]

So if i have a limit of 15L..i will get accelerated rewards from 1.5l to 16.5l but no more in a month.. Is that the right understanding or something else?

Yes, thats correct

 

[Dragon_slayer]

for 2nd one, I am unsure how they would categorise the MCC on their own.
The first point is a good one. Like stay within your limits but getting base rewards. Folks may increase the CL in this case.

To me it seems like they have put something vague, to make sure that they could put anything under exclusion and not provide AEP on that

 

[Dragon_slayer]

Rm told me 3 options for this
1 ITR
2 utilisation
3 other card basis with high limit

Remove 3, it doesnt work with Axis.

 

[m4b]

To me it seems like they have put something vague, to make sure that they could put anything under exclusion and not provide AEP on that

Found out on a thread on X that whenever a merchant is onboarded with the bank, they have to fill up the category. Axis would use that category it seems.

 

[opbamldg]

Based upon name of the spends

I think a Bank can't sit and see the merchant names, they will probably include all MCCs around it. This will probably cause a lot of issues in future.

 

[Riva]

Remove 3, it doesnt work with Axis.

Point 3 does work only if you apply for a new Axis card using another banks card.(c2c) basis. It will not work for increasing existing CL of an Axis card.
I got my Axis limit by showing by HDFC statement when applying.