Devaluation Axis Magnus & Magnus Burgundy Credit Card Huge Devaluation Effective From 20th April 2024

[TechnoFino]

Axis bank announce major changes for their Axis Magnus & Magnus Burgundy credit card wilth effective from 20th April 2024.
Here are the changes:

Revision of EDGE REWARD Points, Miles transfer and Milestone Benefits: (For Magnus & Magnus Burgundy Cards)

In addition to the existing list of category exclusions, spends done on Insurance, Gold & Fuel MCC will not be eligible for base & accelerated EDGE REWARD Points.
Current excluded categories are:
Wallet, Government, Utilities, EMI, Rent

For Magnus Burgundy:
All existing Miles transfer partners will be divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 2 lakh EDGE REWARD Points cumulatively to Group A partners and maximum of 8 lakh EDGE REWARD Points cumulatively to Group B partners. For the current calendar year, this capping will be applicable from 20th Apr’24 to 31st Dec’24. From next calendar year onwards, capping will be applicable from 1st Jan’25 to 31st Dec’25.

For Magnus:
All existing partners on Miles Transfer Program will be divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 1 lakh EDGE REWARD Points cumulatively to Group A partners and maximum of 4 lakh EDGE REWARD Points cumulatively to Group B partners in a calendar year.



Annual Fees Reversal:
In addition to the existing list of category exclusions, spends threshold for annual fee waiver will exclude spends done on Insurance, Gold & Fuel.
Current Exclusions: Rent, Wallet, EMI

Revision of Airport Meet & Assist program: (Magnus Burgundy)

With effect from 20th April 2024, complimentary 8 airport meet & assist services on your MAGNUS for Burgundy Credit Card will be revised to 4 services per calendar year.

Magnus Credit Card:
With effect from 20th April 2024, 8 complimentary airport meet & assist services will be discontinued.

MAGNUS for Burgundy features that will be discontinued: (Magnus & Magnus Burgundy Card)
1. Buy-one-Get-one free movie/non-movie ticket (up to Rs. 500 off on the second ticket) offer on BookMyShow will be discontinued.
2. 24*7 complimentary concierge services will be discontinued.

Revision of Domestic Lounge program: (Magnus & Magnus Burgundy Card)

To access complimentary lounge from 1st May 2024 onwards, minimum spends of Rs. 50,000 will be required.
The complimentary guest visits applicable on domestic & international lounge programs will be revised from 8 guest visits to 4 guest visits.

As I always say, the Axis Magnus credit card is a very complicated and overpriced product. I don’t recommend this product at all. After this devaluation, I would not even pay Rs. 10,000 for it. Paying Rs. 30,000 for this card is just a waste of money. And if you are maintaining an Axis Burgundy account just to get this card for free, please invest your money in some other better product than the Burgundy savings account. How can a bank ask its customers, from whom they are charging 30k annual fees, to spend 50K to get free lounge access?

 

[Purveshladha]

Wanted to check what’s the conversation for redeeming edge miles for hotel booking via their portal ?

 

[hasan424]

Axis Walon se koi bolo ki Apna Card section hi band kardo.

 

[ambrewz]

Time to Close Magnus Card.

 

[sauravkumar]

Axis bank announce major changes for their Axis Magnus & Magnus Burgundy credit card wilth effective from 20th April 2024.
Here are the changes:

Revision of EDGE REWARD Points, Miles transfer and Milestone Benefits: (For Magnus & Magnus Burgundy Cards)

In addition to the existing list of category exclusions, spends done on Insurance, Gold & Fuel MCC will not be eligible for base & accelerated EDGE REWARD Points.
Current excluded categories are:
Wallet, Government, Utilities, EMI, Rent

For Magnus Burgundy:
All existing Miles transfer partners will be divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 2 lakh EDGE REWARD Points cumulatively to Group A partners and maximum of 8 lakh EDGE REWARD Points cumulatively to Group B partners. For the current calendar year, this capping will be applicable from 20th Apr’24 to 31st Dec’24. From next calendar year onwards, capping will be applicable from 1st Jan’25 to 31st Dec’25.

For Magnus:
All existing partners on Miles Transfer Program will be divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 1 lakh EDGE REWARD Points cumulatively to Group A partners and maximum of 4 lakh EDGE REWARD Points cumulatively to Group B partners in a calendar year.



Annual Fees Reversal:
In addition to the existing list of category exclusions, spends threshold for annual fee waiver will exclude spends done on Insurance, Gold & Fuel.
Current Exclusions: Rent, Wallet, EMI

Revision of Airport Meet & Assist program: (Magnus Burgundy)

With effect from 20th April 2024, complimentary 8 airport meet & assist services on your MAGNUS for Burgundy Credit Card will be revised to 4 services per calendar year.

Magnus Credit Card:
With effect from 20th April 2024, 8 complimentary airport meet & assist services will be discontinued.

MAGNUS for Burgundy features that will be discontinued: (Magnus & Magnus Burgundy Card)
1. Buy-one-Get-one free movie/non-movie ticket (up to Rs. 500 off on the second ticket) offer on BookMyShow will be discontinued.
2. 24*7 complimentary concierge services will be discontinued.

Revision of Domestic Lounge program: (Magnus & Magnus Burgundy Card)

To access complimentary lounge from 1st May 2024 onwards, minimum spends of Rs. 50,000 will be required.
The complimentary guest visits applicable on domestic & international lounge programs will be revised from 8 guest visits to 4 guest visits.

As I always say, the Axis Magnus credit card is a very complicated and overpriced product. I don’t recommend this product at all. After this devaluation, I would not even pay Rs. 10,000 for it. Paying Rs. 30,000 for this card is just a waste of money. And if you are maintaining an Axis Burgundy account just to get this card for free, please invest your money in some other better product than the Burgundy savings account. How can a bank ask its customers, from whom they are charging 30k annual fees, to spend 50K to get free lounge access?

Totally agree!!😑😑

It's absolutely absurd!!😤😤
50K spending for Lounge Access!! Seriously!!😡😡
How can one even think of keeping 50K Spend Criteria for HNI cards which they are already charging fees.😠😠
Completely nonsense!!🤬🤬

I think they are high on something... Totally disconnected.. Axis has killed their Credit Card portfolio completely!!😤😤

 

[narun2001]

Wanted to check what’s the conversation for redeeming edge miles for hotel booking via their portal ?

Should be 20p

 

[Lobogris]

Totally agree!!😑😑

It's absolutely absurd!!😤😤
50K spending for Lounge Access!! Seriously!!😡😡
How can one even think of keeping 50K Spend Criteria for HNI cards which they are already charging fees.😠😠
Completely nonsense!!🤬🤬

I think they are high on something... Totally disconnected.. Axis has killed their Credit Card portfolio completely!!😤😤

Don't worry. All other banks will follow. This will become the norm.

 

[sahilgulati5]

Time to close. Axis overdid when they launched Magnus.Now axis is over doing again to close Magnus. I think it’s not hurting them alone but also the partners to whom we transfer. They would have started pressuring axis for the change. Since Magnus arrived the point game in India has quadrupled and that’s hurting the transfer partners both in terms of revenue and other CC partners.

 

[chasni]

Wallet, Government, Utilities, EMI, Rent

As far as I know, Magnus gives ERs on Rent but it is not counted towards milestone.

Someone please correct me if I'm wrong.

 

[shahmushtaq]

Axis bank announce major changes for their Axis Magnus & Magnus Burgundy credit card wilth effective from 20th April 2024.
Here are the changes:

Revision of EDGE REWARD Points, Miles transfer and Milestone Benefits: (For Magnus & Magnus Burgundy Cards)

In addition to the existing list of category exclusions, spends done on Insurance, Gold & Fuel MCC will not be eligible for base & accelerated EDGE REWARD Points.
Current excluded categories are:
Wallet, Government, Utilities, EMI, Rent

For Magnus Burgundy:
All existing Miles transfer partners will be divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 2 lakh EDGE REWARD Points cumulatively to Group A partners and maximum of 8 lakh EDGE REWARD Points cumulatively to Group B partners. For the current calendar year, this capping will be applicable from 20th Apr’24 to 31st Dec’24. From next calendar year onwards, capping will be applicable from 1st Jan’25 to 31st Dec’25.

For Magnus:
All existing partners on Miles Transfer Program will be divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 1 lakh EDGE REWARD Points cumulatively to Group A partners and maximum of 4 lakh EDGE REWARD Points cumulatively to Group B partners in a calendar year.



Annual Fees Reversal:
In addition to the existing list of category exclusions, spends threshold for annual fee waiver will exclude spends done on Insurance, Gold & Fuel.
Current Exclusions: Rent, Wallet, EMI

Revision of Airport Meet & Assist program: (Magnus Burgundy)

With effect from 20th April 2024, complimentary 8 airport meet & assist services on your MAGNUS for Burgundy Credit Card will be revised to 4 services per calendar year.

Magnus Credit Card:
With effect from 20th April 2024, 8 complimentary airport meet & assist services will be discontinued.

MAGNUS for Burgundy features that will be discontinued: (Magnus & Magnus Burgundy Card)
1. Buy-one-Get-one free movie/non-movie ticket (up to Rs. 500 off on the second ticket) offer on BookMyShow will be discontinued.
2. 24*7 complimentary concierge services will be discontinued.

Revision of Domestic Lounge program: (Magnus & Magnus Burgundy Card)

To access complimentary lounge from 1st May 2024 onwards, minimum spends of Rs. 50,000 will be required.
The complimentary guest visits applicable on domestic & international lounge programs will be revised from 8 guest visits to 4 guest visits.

As I always say, the Axis Magnus credit card is a very complicated and overpriced product. I don’t recommend this product at all. After this devaluation, I would not even pay Rs. 10,000 for it. Paying Rs. 30,000 for this card is just a waste of money. And if you are maintaining an Axis Burgundy account just to get this card for free, please invest your money in some other better product than the Burgundy savings account. How can a bank ask its customers, from whom they are charging 30k annual fees, to spend 50K to get free lounge access?

Axis ace, flipkart and Indian oil too devalued.

 

[Salvo08]

Axis is slowly killing all its cards. I remember just about six months back some of the community members used to compare it with Infinia. It was always a dead rubber. Asking people to maintain individual Burgundy Account criteria and people rushed to comply. I received the card on 30 Sep 23, so in just six months they have devalued it.

 

[Salvo08]

Axis ace, flipkart and Indian oil too devalued.

Axis Select too devalued. Golf games increased but added spend criteria on Lounge access, BMS discontinued , Swiggy offer @ cart value of 1K and BB @ 3K.

 

[animesenpai]

At this point I will just stop using those cards so that they close it by themselves...

 

[Card_Maddy]

Its is very great Shakesperian tale with tragedy as said by @techt, Transition from the Great MAGNUS to Manhoos. Rise and Fall.

 

[techt]

Its is very great fairy tale as said by @techt Tranisition from the Great MAGNUS to Manhoos. Rise and Fall.

I said its a Shakesperian tale with tragedy.

 

[S D S]

As far as I know, Magnus gives ERs on Rent but it is not counted towards milestone.

Someone please correct me if I'm wrong.

Following! I need to pay rent too and looking for ways with a card. Have infinia and M4B

 

[Card_Maddy]

I said its a Shakesperian tale with tragedy.

Done Edited @techt

 

[techt]

Done Edited @techt

In the intro itself I told, it isn't a fairy tale, as they have happy endings.

 

[Jajamama]

I have the Magnus for Burgundy card & these devaluations are a punch in the gut.

The only reason I opened a Burgundy account was to get this card. I guess there is no need for me to maintain that anymore so in all probability I'm going to close my account after I have transferred all my points.

The other problem is that Axis has still not converted all my Edge Rewards points to Burgundy points so I can't redeem them in the 5:4 ratio till that is done. They keep saying there is a technical glitch & first said it will be rectified in January, then they said end of February & now are saying end of March. At this rate the 20th April deadline will pass without the ability for me to transfer over to the frequent flyer program of my choice. Also, they have not credited any points for any spends in the month of March.

Absolutely incompetent behavior on part of the bank. As someone who has transitioned over from Citi, I am used to much much better service.

 

[techt]

The other problem is that Axis has still not converted all my Edge Rewards points to Burgundy points so I can't redeem them in the 5:4 ratio till that is done. They keep saying there is a technical glitch & first said it will be rectified in January, then they said end of February & now are saying end of March. At this rate the 20th April deadline will pass without the ability for me to transfer over to the frequent flyer program of my choice. Also, they have not credited any points for any spends in the month of March.

With so many ifs and buts, it amazes me how some people make best use of these travel cards.