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

 

[Walter White]

Time to downgrade or change to Vistara variant

Axis Vistara ka base variant rakho bas economy ticket ke liye. 1700 ki annual fee. 3000 ki ticket free. Har quarter me 1rs ka transaction maar diya karo active rakhne ke liye. 😛

 

[Rkr]

Time to downgrade or change to Vistara variant

Still its better if anyone having genuine spend above 7L or above in a anniversary year.

 

[Cardmarvel]

For Reserve card to have 5:4 ratio require Burgandy Private.Dont think many people will have Burgandy Private.Also why one need a Reserve card if they are holding Burgandy Private Credit card

Burgundy Private or Burgundy? They are 2 different things

 

[Zarieal]

Also with linking

For Reserve card to have 5:4 ratio require Burgandy Private.Dont think many people will have Burgandy Private.Also why one need a Reserve card if they are holding Burgandy Private Credit card

Burgundy Private requires 5Cr NRV with Axis. Dont think people with such NRV would care about reward points or devaluation etc.

 

[Walter White]

Still its better if anyone having genuine spend above 7L or above in a anniversary year.

Utilities aur government spends include karte toh log rakh bhi lete. Itne exclusions daal diye inhone.

 

[hrish88]

Burgundy Private or Burgundy? They are 2 different things

I know i am a burgundy customer.for Reserve its Burgandy Private

 

[LJGIBBS]

I think I am the only one who can still benefit from applying Magnus. I have 30K ER from Samsung Infinite. Without magnus, it's value is Rs 6000 or 3000 miles.

If I can still get magnus before 1st September, I'll probably get tata cliq + conversion of 30K ER to 24K miles. The only issue here is that my samsung card is just 2 months old.

 

[vigneshn92]

Does insurance come under utilities as well ?

 

[anupamsinha]

Still its better if anyone having genuine spend above 7L or above in a anniversary year.

Didn't understand this. How would this be better if the genuine spends are more than 7. Wouldn't SBI cashback and other cards provide a better reward? Specially considering the 12k fees.

 

[sid16]

Open burgundy account few days back and awaiting for the burgundy debit card and new kit
is it good to apply for the magnus or take the select card which is free LTF with burgundy account
i dont have any credit card of Axis now
i have icici amazon, amex MRCC and platinum travel and SBI simply click

Since Select is LTF, that can anyway be taken regardless of whether you go for Magnus or not.

 

[R!ppEr]

khatam!! 5:2!

 

[hrish88]

Also with linking

Burgundy Private requires 5Cr NRV with Axis. Dont think people with such NRV would care about reward points or devaluation etc.

true these people don't care.Also burgandy Private credit card has already have most of the benefits of Reserve

 

[captaintorchtm]

Axis Vistara ka base variant rakho bas economy ticket ke liye. 1700 ki annual fee. 3000 ki ticket free. Har quarter me 1rs ka transaction maar diya karo active rakhne ke liye. 😛

yes. I was thinking about Vistara signature, sbi prime, and idfc combo for all premium economy. seems worth it. you get 4-5 tickets yearly and 4 upgrade vouchers for spending 1.5L on any one card and 12-14k total fees.

 

[Deathsnatcher]

Does insurance come under utilities as well ?

Yes when you pay via 3rd party apps

 

[rohit3887]

can anyone tell difference b/w burgundy and burgaundy private.

 

[typhoon]

If anyone not using edge points, they can PM me.

 

[tapishj]

For people who recently got Magnus and might still get one or two milestone benefits, which is the best transfer partner, considering value of points & validity (considering nothing is planned as of now)?
I see a lot of people talking about Accor, but want to get a general opinion here.

 

[farhan7500]

If one door closes, then another one opens.

Last week I got an upgrade to Infinia and received it yesterday. Though the rewards are not as great as old Magnus, but at least I won't have to use my Regalia anymore.

 

[vinrey287]

Axis mgmt has done a great job to manage the devaluations after the first notification that was shared and criticized. They have updated it to retain high spenders but everyone will think twice about how Axis has changed T&C of a card so many times and the words ' Time bound' will definitely keep them away from opening Burgundy

 

[Sharjeelshaikh]

Worst is
-25lakh spend for fee waver.
-12500+tax.. no benifit aginst it.
-Utility not count for milestone

then how people spend 25lakh...

Bhai Inka itr required for magnus is 18 lakh and they want us to spend 25 lac lol