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

 

[rohitb]

Can we book vietjet using JAL? Cannot see any option on JAL.

Never tried myself. Vietjet seems to have partnership with jal - don't know if awards are available or bookable via jal FFP.
Try Vietnam airlines instead - using skyteam . That would work.

 

[mojo_jojo123]

Got magnus in June this year.. Completed monthly milestones for June and July.. So will be having appx 62k points by 10th Aug. Might also complete for Aug.
I don't have any travel plan for next 6 months.
So what you guys suggest to transfer these 62k points on 5:4 basis as a safe bet for use let's say after 6 months and get max value out of it.

same here ..

 

[Ravana_88]

mine isn't LTF

and I'm now thinking whether I want to continue it - Magnus gave Eazydiner for free on birthday, and gives the Eazydiner discount also, which I use only 6-7 times a year.

I'm very close to 15Lakh threshold for the year (renewal in September; it is kind of a special situation - I guess very few card holders will have their renewal up in September, most joined afterwards), I fully intend to get milestone in August also and with that I should be over the renewal threshold

So it make no sense for me to not renew Magnus this year. And I think they will give free eazydiner next year also (they are continuing the 1000 rupees benefit afterall).

Then again - I might renew the Indusing card and give it to wife - she goes to lunches with her office friends and they usually spend less than 2500, so they can't get Magnus discount. I'll call them to cancle next month and let's see what they say - I'm guessing they may give a discount or make it free for next year in exchange for the accumulated points.

Why not renew for free if you are above the spend threshold . I am also in a similar boat , so need to make a call here .

 

[Vickymaster1010]

Is it worth to continue with axis Flipkart. After devaluation?

 

[mojo_jojo123]

Do installments paid to builder thru cc come under utility payments?

I think they come over rent

 

[vina]

Do installments paid to builder thru cc come under utility payments?

Interesting question. No idea. Call the service number and ask for the MCC code for last few payments

 

[mojo_jojo123]

Interesting question. No idea. Call the service number and ask for the MCC code for last few payments

can you check and let me know as well ?

 

[vina]

can you check and let me know as well ?

you mean to ask @R!ppEr ?

 

[Himanshu Rathi]

The 6000 ER cap on insurance is for a transaction, month, or statement?

 

[shuperman]

The 6000 ER cap on insurance is for a transaction, month, or statement?

It is the limit per transaction

 

[bigbrain]

I don’t understand how people are saying Magnus is dead now. Please help me understand. Am I missing something?

I don’t have a DCB or Infinia and HDFC is not providing me one even after multiple requests and stuck with Regalia (I am eligible for atleast DCB with a 42CTC). Daily limits for these cards play a spoil sport.

With 2.4% base reward rate in miles, which other CC can I apply for?

I plan to use magnus on gyftr where it offers a 3x (7.2% miles) and 5x (12% miles). I see more brands in axis gyftr compared to HDFC smart buy and Amex reward multiplier. Also can use on travel edge (12%miles). I don’t know how much I will end up spending in these categories and I will have to monitor in next few months.

I should start using HDFC regalia for smartbuy for amazon vouchers (6% miles) where axis has only 2x.

I should probably apply for Atlas card for offline spends (4% miles) and hotel spends (10% miles)

I looked at Amex plat travel card (don’t have one now) it might offer upto 8% as Marriott points (on hitting 4 lakh annual spend) but 4% for any other program. Amex has limited acceptance offline.

For Forex. Both regalia and magnus have 2% charges. With magnus having better reward rate I will continue using magnus.

Regarding the 11.8k fees.
- I get EazyDiner discount of 1k. I use it 3 to 4 times a year. - savings of 3k
- BMS - 2 to 3 times a year. - savings of 1k
- lounge access - 2 visits a year x two airports per visit (x2 for wife’s add on). - considering I would spend ₹600 for food outside at airport in not for lounge - savings of ₹4.8k
- I will not consider meet and greet as I would not have used if it is a paid service.

In total of about ₹8.8k savings. So effectively I will be paying ₹3.1k as fees.

I don’t know how good the Amex plat travel lounge program is. If I get good access then I should review cost analysis for Magnus annual fees).

I will close my Axis reserve card before renewal and not sure what to do with Amex MRCC if I decide to apply for Amex plat travel card

This gets complex and have to start thinking which card to use where everything I go out ☹️.

I have to apply for 2 new cards and hope they get approved. Had hard time getting approval for Reserve and I heard Amex is not issuing second or third card easily. Till I get these 2 cards I have to still depend on Magnus for best returns.

Please let me know if I am wrong anywhere. Or if there is a way to get DCB or Infinia.

 

[R!ppEr]

Interesting question. No idea. Call the service number and ask for the MCC code for last few payments

I'm not paying it actually, one of the builders property that I visited was giving me this option

 

[ismail]

I don’t understand how people are saying Magnus is dead now. Please help me understand. Am I missing something?

I don’t have a DCB or Infinia and HDFC is not providing me one even after multiple requests and stuck with Regalia (I am eligible for atleast DCB with a 42CTC). Daily limits for these cards play a spoil sport.

With 2.4% base reward rate in miles, which other CC can I apply for?

I plan to use magnus on gyftr where it offers a 3x (7.2% miles) and 5x (12% miles). I see more brands in axis gyftr compared to HDFC smart buy and Amex reward multiplier. Also can use on travel edge (12%miles). I don’t know how much I will end up spending in these categories and I will have to monitor in next few months.

I should start using HDFC regalia for smartbuy for amazon vouchers (6% miles) where axis has only 2x.

I should probably apply for Atlas card for offline spends (4% miles) and hotel spends (10% miles)

I looked at Amex plat travel card (don’t have one now) it might offer upto 8% as Marriott points (on hitting 4 lakh annual spend) but 4% for any other program. Amex has limited acceptance offline.

For Forex. Both regalia and magnus have 2% charges. With magnus having better reward rate I will continue using magnus.

Regarding the 11.8k fees.
- I get EazyDiner discount of 1k. I use it 3 to 4 times a year. - savings of 3k
- BMS - 2 to 3 times a year. - savings of 1k
- lounge access - 2 visits a year x two airports per visit (x2 for wife’s add on). - considering I would spend ₹600 for food outside at airport in not for lounge - savings of ₹4.8k
- I will not consider meet and greet as I would not have used if it is a paid service.

In total of about ₹8.8k savings. So effectively I will be paying ₹3.1k as fees.

I don’t know how good the Amex plat travel lounge program is. If I get good access then I should review cost analysis for Magnus annual fees).

I will close my Axis reserve card before renewal and not sure what to do with Amex MRCC if I decide to apply for Amex plat travel card

This gets complex and have to start thinking which card to use where everything I go out ☹️.

I have to apply for 2 new cards and hope they get approved. Had hard time getting approval for Reserve and I heard Amex is not issuing second or third card easily. Till I get these 2 cards I have to still depend on Magnus for best returns.

Please let me know if I am wrong anywhere. Or if there is a way to get DCB or Infinia.

Magnus base reward rate of 2.4 with 11.8k annual fee seems much lower when you can use a combo of cards like ACE, SBI cashback and MRCC, all of which are easily available, and overall about 5% returns

 

[rogerthat]

This gets complex and have to start thinking which card to use where everything I go out ☹️.

This was the main reason I liked Magnus. It was convenient. One card for everything. Now it is back to the Excel sheet and mental calculation gymnastics.

 

[ggwright]

Insurance spend ERs are capped at 6000 RP per transaction. With the new T&C, if I make insurance payments worth 4L in the same month, will I be eligible for the 35ER/200 bracket? as my spends would exceed 1.5L in the month and insurance spends aren't included yet in the utilities or Government spends MCCs as I checked
@TechnoFino @Wealth is my birth right!

 

[samba113]

I don’t understand how people are saying Magnus is dead now. Please help me understand. Am I missing something?

I don’t have a DCB or Infinia and HDFC is not providing me one even after multiple requests and stuck with Regalia (I am eligible for atleast DCB with a 42CTC). Daily limits for these cards play a spoil sport.

With 2.4% base reward rate in miles, which other CC can I apply for?

I plan to use magnus on gyftr where it offers a 3x (7.2% miles) and 5x (12% miles). I see more brands in axis gyftr compared to HDFC smart buy and Amex reward multiplier. Also can use on travel edge (12%miles). I don’t know how much I will end up spending in these categories and I will have to monitor in next few months.

I should start using HDFC regalia for smartbuy for amazon vouchers (6% miles) where axis has only 2x.

I should probably apply for Atlas card for offline spends (4% miles) and hotel spends (10% miles)

I looked at Amex plat travel card (don’t have one now) it might offer upto 8% as Marriott points (on hitting 4 lakh annual spend) but 4% for any other program. Amex has limited acceptance offline.

For Forex. Both regalia and magnus have 2% charges. With magnus having better reward rate I will continue using magnus.

Regarding the 11.8k fees.
- I get EazyDiner discount of 1k. I use it 3 to 4 times a year. - savings of 3k
- BMS - 2 to 3 times a year. - savings of 1k
- lounge access - 2 visits a year x two airports per visit (x2 for wife’s add on). - considering I would spend ₹600 for food outside at airport in not for lounge - savings of ₹4.8k
- I will not consider meet and greet as I would not have used if it is a paid service.

In total of about ₹8.8k savings. So effectively I will be paying ₹3.1k as fees.

I don’t know how good the Amex plat travel lounge program is. If I get good access then I should review cost analysis for Magnus annual fees).

I will close my Axis reserve card before renewal and not sure what to do with Amex MRCC if I decide to apply for Amex plat travel card

This gets complex and have to start thinking which card to use where everything I go out ☹️.

I have to apply for 2 new cards and hope they get approved. Had hard time getting approval for Reserve and I heard Amex is not issuing second or third card easily. Till I get these 2 cards I have to still depend on Magnus for best returns.

Please let me know if I am wrong anywhere. Or if there is a way to get DCB or Infinia.

Untill we are getting full meals and suddenly axis changed to quarter meals and it will take time to digest the change.

 

[Harry1]

I don’t understand how people are saying Magnus is dead now. Please help me understand. Am I missing something?

I don’t have a DCB or Infinia and HDFC is not providing me one even after multiple requests and stuck with Regalia (I am eligible for atleast DCB with a 42CTC). Daily limits for these cards play a spoil sport.

With 2.4% base reward rate in miles, which other CC can I apply for?

I plan to use magnus on gyftr where it offers a 3x (7.2% miles) and 5x (12% miles). I see more brands in axis gyftr compared to HDFC smart buy and Amex reward multiplier. Also can use on travel edge (12%miles). I don’t know how much I will end up spending in these categories and I will have to monitor in next few months.

I should start using HDFC regalia for smartbuy for amazon vouchers (6% miles) where axis has only 2x.

I should probably apply for Atlas card for offline spends (4% miles) and hotel spends (10% miles)

I looked at Amex plat travel card (don’t have one now) it might offer upto 8% as Marriott points (on hitting 4 lakh annual spend) but 4% for any other program. Amex has limited acceptance offline.

For Forex. Both regalia and magnus have 2% charges. With magnus having better reward rate I will continue using magnus.

Regarding the 11.8k fees.
- I get EazyDiner discount of 1k. I use it 3 to 4 times a year. - savings of 3k
- BMS - 2 to 3 times a year. - savings of 1k
- lounge access - 2 visits a year x two airports per visit (x2 for wife’s add on). - considering I would spend ₹600 for food outside at airport in not for lounge - savings of ₹4.8k
- I will not consider meet and greet as I would not have used if it is a paid service.

In total of about ₹8.8k savings. So effectively I will be paying ₹3.1k as fees.

I don’t know how good the Amex plat travel lounge program is. If I get good access then I should review cost analysis for Magnus annual fees).

I will close my Axis reserve card before renewal and not sure what to do with Amex MRCC if I decide to apply for Amex plat travel card

This gets complex and have to start thinking which card to use where everything I go out ☹️.

I have to apply for 2 new cards and hope they get approved. Had hard time getting approval for Reserve and I heard Amex is not issuing second or third card easily. Till I get these 2 cards I have to still depend on Magnus for best returns.

Please let me know if I am wrong anywhere. Or if there is a way to get DCB or Infinia.

People said the same thing when DCB and Infinia were devalued last year for 3-4 months continuously.

Once they see that it is still their best option, they cool down. Obviously not the case with everyone, but quite a lot of people with magnus don't have either DCB or Infinia. Besides, DCB is also not really better than Magnus in many use cases.

 

[CARDBITRAGE]

Magnus is still a good card. Now it will be worth it only for those who have high spends. If your normal monthly spend(excluding utility, government, and travel) is less than 2L, it is hard to justify keeping this card. If you are someone who travels a lot, Magnus is still the best card out there. Infinia has a 15k cap on smartbuy, which means on booking hotels(10x category), you would exhaust it after making 50k worth of hotel bookings per month. So you could keep this along side your Infinia and complete the rest of your travel related spends on this card. If you don’t have Infinia, this is still the best card for travel related spends.

 

[rogerthat]

See I think the reason this particular range is not the banks target because they don't really make any money off them.
You earn enough to pay off your debt in time but not enough to be able to give them business of above 1cr.
One of the reasons I won't open too many accounts is that the assets get distributed and you don't have as much leverage over the RM's (that's why no burgundy for me) I primarily deal with HDFC and getting Infinia was effortless with 19lk something limit.

This is a very very good deduction and suddenly everything makes sense.

Yes, these type of salaried family users spend heavily but never beyond their means as they are extremely cautious of not falling into debt traps. So they don't revolve because they can't afford it. At the same time they hunt for bargains and benefits and squeeze the last mile and voucher out of cards. They also sont earn enough for banks to make moeny off them as HNIs. CC companies must hate them!

Entry level card user youngsters are more reckless in their spends and fall into debt traps easily. They are gold mines for banks!

Everything makes sense now.

 

[rogerthat]

I didn't know insurance can be paid using Amazon Pay - thanks for the tip

I have SC Ultimate, but what I'm thinking is this - Magnus would still give you points on Insurance payments; so if you can use it for even moderate travel, the 6L spend you'll do will fetch 36000 ER points worth about 30k in Vistara tickets (2 BLR-DEL economy return tickets); that's 5%. You have choise of other airlines of course and so real value may be only 4%, but definitely better than SC Ultimate.

If you buy Amazon Pay from Magnus-Gyftr, the above doubles. I'm not sure what is the rate with DCP.


By the way - if you move all your expenses to DCP and spend over 7lakhs on it in 6 months, your HDFC RM can get you Infinia

Yeah this is a good plan. Only that I am based out of Kerala and Vistara network is poor here.

Believe me I've tired spending on DCP but the thing is accepted absolutely nowhere. Even Amex is better. But the good thing is that Smartbuy gives 5x so that is definitely where I am going to buy vouchers from.

So my monthly AGV shopping would be

20K AGVs from Smartbuy with DCP at 5x
20K AGVs from Axis Gyftr with Magnus 2x
10K AGVs from Amex Gyftr with Amex Gold at 5x (helps achieve monthly milestone too).

Of course this is only until Amazon stops accepting insurance payment using GVs.