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

[Rishi Mittal]

Axis Bank has announced a few changes to the Magnus Credit Card, effective soon:

1. Accelerated Reward Limit Revised
   From 20th June 2025, accelerated EDGE REWARD Points will now be applicable on spends up to Credit Limit + ₹1.5 Lakhs.
2. Simplified Category Exclusions
   While there's no change in the list of excluded spend categories for rewards or fee waiver calculations, from 20th June 2025, exclusions will be determined based on broad spend categories (like Utility, Telecom, Rent, Wallet, etc.) instead of specific 4-digit MCC codes.
3. Reward Forfeiture Policy Update
   From 1st October 2025, unredeemed EDGE REWARD Points / EDGE Miles may be forfeited:
   • 30 days after card closure
   • If the Minimum Amount Due remains unpaid for over 90 days
     ⚠️ It's advised to redeem all points within 30 days of closure to avoid losing them.

 

[ankurarora898]

1st one will hit the hardest

 

[Rishi Mittal]

No more car from this card 😅

 

[PrinceHeart]

I got email today with same info.

Another deval.

Now i think it is time to prepare for the closure of my magnus card.

 

[PrinceHeart]

No more car from this card 😅

You can get a car depend on your card limit.

Any high priced car, you can do an advance payment end of the month and then do the remaining payment next month. For this, you will have to call custoner care and setup billing date as 1st of each month.

 

[m4b]

Best news from m4b.

 

[6ix9ine]

Best news from m4b.

It's time for the name change 😂

 

[Dragon_slayer]

1. While there's no change in the list of excluded spend categories for rewards or fee waiver calculations, from 20th June 2025, exclusions will be determined based on broad spend categories (like Utility, Telecom, Rent, Wallet, etc.) instead of specific 4-digit MCC codes.

Did not understood this, how is it simplification?

 

[Dragon_slayer]

Best news from m4b.

How ? ?

 

[GG21]

is it applicable for M4B too ?

 

[Dragon_slayer]

is it applicable for M4B too ?

Yes, i got a mail for M4B

 

[Centurion_wala]

Did not understood this, how is it simplification?

It’s actually delusion

 

[S D S]

I got email today with same info.

Another deval.

Now i think it is time to prepare for the closure of my magnus card.

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

 

[PrinceHeart]

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

Only the accelerated rate is limited to your credit limit + 1.5L per month.

Thats a big deval for people who use this card for the accelerated rate.

 

[PainX]

I don't see any affecting devaluation to me. I'm certainly not hitting my credit limit of M4B.

 

[Tocoliso]

Did not understood this, how is it simplification?

Now they will deny by default all the points and now onus will be on you to prove that it falls in certain category. Earlier folks from techonofino could find clever means to make insurance payments tax payment withing the framework of mcc codes and new platforms have invariably had their mcc messed up and only after lot of pushbaxk from banks they do course correction. Now the onus will be on customers to prove their rightful spends. They just flipped the game.

 

[InfamousInfamous is verified member.]

🪓🪓🪓 strikes again

 

[Tocoliso]

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

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

 

[PrinceHeart]

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

There is still 1 month time remaining.

Ask your friends and family if anyone buying a car. You can get free vacation of your lifetime 😁

 

[itzmycard]

so thats how magnus turned into mangus

p.s : the title of this thread