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

 

[rj_arora]

With Vistara, you will be limited with Vistara only compared with Magnus which you can transfer points to partner FFPs.

Which is the best partner FFPs? Assuming I don't have immediate travel plans as of now

 

[rj_arora]

If you have salary of 3L every month going into Axis, you can also apply for Magnus to become LTF. That's their criteria for LTF version of Magnus.

3L is FYF, not LTF as far as I know. Also, is salary account compulsory? Or savings account is also fine?

 

[sid16]

3L is FYF, not LTF as far as I know. Also, is salary account compulsory? Or savings account is also fine?

I had read about it as LTF. Who knows, this criteria could also change any moment.

Savings account is fine with annual quarterly balance of 10 lakhs.

 

[Wealth is my birth right!]

Edit the page title RUMOURED to Real

Damage is more than rumored ones
Axis bank took over our weekend moods to sad

 

[hgarg5072]

I think this will card add a lot of value if somebody wants to make big payments of more than 5L. Also this kind of devaluation helps in rotating money around for reaching milestones.

 

[sid16]

Which is the best partner FFPs? Assuming I don't have immediate travel plans as of now

Accor is best. The expiry of all accumulated points keeps forwarding by a year even by small amounts of addition of Accor points.

 

[Sharjeelshaikh]

15000 mei main thai spa ki membership loonga..enjoy

 

[sid16]

I think this will card add a lot of value if somebody wants to make big payments of more than 5L. Also this kind of devaluation helps in rotating money around for reaching milestones.

Usually such big payments are government payments which will not be rewarded at all from 1st September. For travel, they have added maximum limit of 2 lakhs in Travel edge for 5X points. So they have literally cut all the corners.

 

[rj_arora]

Accor is best. The expiry of all accumulated points keeps forwarding by a year even by small amounts of addition of Accor points.

What? Wow. So, if I add 100 accor points, then also points will be extended by 1 year? And what's the possibility that Accor changes this rule? How old is this rule?

 

[sankar7000]

Two questions:
1. What is the next best card for government payments ?
2. I have 30k spends (base spends) /offline spends? If I do it before 31st July, would I get 5:4 ratio?

 

[sid16]

What? Wow. So, if I add 100 accor points, then also points will be extended by 1 year? And what's the possibility that Accor changes this rule? How old is this rule?

Yes, all points get extended by 1 year.

Whatever is being said here is as per the current norms. No idea about the future.

Make hay while the sun shines.

 

[Walter White]

Lol. Itna uncertainty me LTF MyZone ke alava saare Axis cards close kara diye. Ab Aurum ka jugaad karta hun kahi se.

 

[sid16]

Two questions:
1. What is the next best card for government payments ?
2. I have 30k spends (base spends) /offline spends? If I do it before 31st July, would I get 5:4 ratio?

1. There is another article on the same, you can use the search for the same.
2. Yes, you will as long as you redeem them in August 2023 itself.

 

[eatpepsi]

so transfer value of 5:4 to 5:2 is applicable from which date ????

 

[Sharjeelshaikh]

so transfer value of 5:4 to 5:2 is applicable from which date ????

1sep

 

[rohitb]

One word answer "Cancel"

 

[Deleted member 9785]

Now travel mile and credit card advisory and consultants

 

[Sharjeelshaikh]

Axis ki jalane ke liye December mei TF Wale Thailand ya bali plan karo ER se.

 

[eatpepsi]

changes in effect from 1st september, complete the monthly milestone of july and get the 25k points by 10th august and call it the end of the card for me .... 25k for the months of may & june will be credit by the end of july ....
I feel the devaluation has protected the previous customers ....

 

[eatpepsi]

1sep

perfect, so we can honorably get out of this card ...