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

 

[Deleted member 7241]

As Expected......

 

[saketreddy]

Crazy stuff. Nothing for reserve as of now?

 

[anirban.choudhury]

Time to take Reserve

 

[V360]

This is a great devaluation - time to say tata bye bye to Magnus

 

[xxScriptzxx]

This is really big devaluation, time for the king (infinia) to take back the throne. Guess better to shift to reserve

 

[Farhad sekh]

Tata cliq vi chala gaya
Utility v chala gaya

 

[Bugs Bunny]

Jab card milaa devalue hogyaa @4uziaul @jack333. Nazar laggi 🤌😂

 

[rj_arora]

Wtf! Abhi kal hi 20K ka amazon pay voucher liya hai.
Is this applicable for the impending reward points for monthly milestones and accelerated rewards points for transactions done before 12 Aug too?
And should we not redeem all current points to CV points?

 

[4uziaul]

It was bound to happen sooner or later. 🤣

 

[nigameash]

The other devaluations, I could still live with but 5:1 transfer ratio killed this card.

 

[Akshay9512]

Its the end now! Finally

 

[anirban.choudhury]

As per the TNC , ER’s are still not segregated
So if you have Reserve , you can earn milestone in Magnus and redeem as per Reserve rate

 

[4uziaul]

Jab card milaa devalue hogyaa @4uziaul @jack333. Nazar laggi 🤌😂

Tumhara toh LTF hai kyun ro rahe ho 🤣

Abhi bhi kuch juice baki hai nichor Lena 🤣

 

[realSP]

I got the magus card just few days back, if i request for cancel, then they will reverse my joining fees?

 

[joshmas]

While Devaluation was always expected, that it happened so soon is a shocker. Should we continue to hold or cancel the card when it's up for renewal?

 

[Bugs Bunny]

Tumhara toh LTF hai kyun ro rahe ho 🤣

Abhi bhi kuch juice baki hai nichor Lena 🤣

Sir abhii to kuch kr e nee skta naa spends itne hoge already socha tha thode time bad shuru krunga. Ye to shuru hone se pehle e khtm hogya 😭🤌

 

[ak93]

Ughh, they should have given 90 days notices so we can redeem all earned points till now 🤦All spends from May onwards is a waste now!

 

[anirban.choudhury]

The way axis was giving Magnus LTF
Devaluation was the only way out to survive

 

[Deleted member 7241]

Time to take Reserve

Coming to Reserve as Welll........Wait till November or MAx December End