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

 

[phagocyte536]

Oh wow truck load of points came in.. will recon tonight. Damn, I love magnus. The rewards I made in 3 months would take an year and a lot more spending on infinia.. glad to have been part of this ride at least at the end

 

[phagocyte536]

Has anyone received July Milestone points?

Most of us.. many reported in forum. I received too.

 

[Guessboy]

Oh wow truck load of points came in.. will recon tonight. Damn, I live magnus. The rewards I made in 3 months would take an year and a lot more spending on infinia.. glad to have been part of this ride at least at the end

Non-stop messages for the past few minutes for points being credited. Good on Axis to do this ahead of 1 Sep.

 

[Anonymous ツ]

Most of us.. many reported in forum. I received too.

I have received almost all Gyftr Points but July Milestone is pending. Is it normal? and Have you received grabdeals points?

 

[starstruck]

Got the points for July transactions as well. I tallied all the points.

 

[DevD]

I think axis do the transfer in batches. when a lots of user place transfer request. maybe once in 15 days (my guess)

 

[FinGuru]

I have received almost all Gyftr Points but July Milestone is pending. Is it normal? and Have you received grabdeals points?

No grabdeal points yet.

 

[Sharjeelshaikh]

Gyftr aagaya mujhenalmost 8k

 

[TheLazyInsomniac]

• Axis Magnus Benefits Utilised

Got Magnus in January’23 as LTF
Started using it from February’23
Used till August’23

• Airport Services Used

Airport Meet & Greet for 4 pax twice while my last trip to Dubai
4 Guest international lounge access via priority pass
2 International & 3 domestic lounge acces

• Milestone Bonus Edge Reward Points

For all 7 months till August 1L milestone was completed
7x25,000= 1,75,000 Bonus Points

• Pending EdgeReward Points of August - 31,000 (value ₹6,200)

August Milestone- 25,000
GiftEdge 2x - 6,000

• Total Edge Reward Points transferred (including bonus ER) - 2,79,048

KrisFlyer Singapore Airlines - 1,00,000
Club ITC - 75,000
Accor ALL - 1,04,048

• Total Value derived by conversion - ₹2,84,826

KrisFlyer- 80,000 points x₹1 (₹80,000)
Club ITC (60,0000) to Marriott- 90,000 points x₹0.50 (₹45,000)
Accor All - 83,237 points x₹1.8 (1,49,826)
TATA Cliq Voucher - ₹10,000

• Total Spends till 10 August 23 - 9.45L approx

• Total Reward Rate Value

excluding August 31,000 points - 30.14%
Considering Reward of August 31,000 - 30.8%
If I would’ve redeemed for AmazonPay GiftVoucher Including August 31,000 Points - ₹62,000 - 6.56%

Note -

1. Considering Reward of August 31,000 as Gift Voucher incase if axis removes accor as conversion partner it would make no sense to convert points at 5:2 ratio & waiting for it to redeem at hotel/airline unless we get more than ₹0.5 value.
2. Few points approx 8-10k were earned via Burgandy Debit Card
3. Major spends were on Amazon Pay vouchers via GiftEdge using Multiple Accounts

What was your reward rate? How did you transfer axis Edge Reward points?

 

[MayankBamboria]

For which month?

I received it for transactions till July 24th.

Should I initiate points transfer now before devaluation.

Yes, we should initiate asap.

 

[Anonymous ツ]

I haven't received July Milestone RPs. What to do?

 

[mojo_jojo123]

I haven't received July Milestone RPs. What to do?

same here

 

[vineet_c]

As somebody puts it well Magnus/Axis is Good bye, tata, gaya, khatam..... just close this thread 4ever.
Now Get yourself 2 sbi vistara cards, 1 idfc vistara . You will get 12 vistara tickets (8 premium 4 economy) on 4.5L spend on each card and points for another 4 oneway tickets. Rent, fuel all included for milsetones. Say good bye for good to axis and amex and all other cards who dont give anything on rent, utlities and fuel. Excuding these essential spends and push to spend more is just crazy or perhaps there are enough crazy people out there 🤔

 

[vineet_c]

same here

Same here

 

[akshaycshah]

same here

 

[Warlock27]

As somebody puts it well Magnus/Axis is Good bye, tata, gaya, khatam..... just close this thread 4ever.
Now Get yourself 2 sbi vistara cards, 1 idfc vistara . You will get 12 vistara tickets (8 premium 4 economy) on 4.5L spend on each card and points for another 4 oneway tickets. Rent, fuel all included for milsetones. Say good bye for good to axis and amex and all other cards who dont give anything on rent, utlities and fuel. Excuding these essential spends and push to spend more is just crazy or perhaps there are enough crazy people out there 🤔

Just curious, are the gift tickets valid only in domestic circuit?

 

[Shadow747]

Just curious, are the gift tickets valid only in domestic circuit?

yes. tickets only for domestic but upgrade vouchers can be used on international also.

 

[Gaurav2105]

Any update on edge points to krisflyer conversion? Whosoever initiated around 25-30th July.

 

[BMR]

Question: Are utility payments (electricity bills) via amazon pay still considered for Magnus milestone of 1 lac spends per month? I am sorry this may have been discussed before but with so many changes recently, I have lost track of what is included and what's not.

 

[Sharjeelshaikh]

Question: Are utility payments (electricity bills) via amazon pay still considered for Magnus milestone of 1 lac spends per month? I am sorry this may have been discussed before but with so many changes recently, I have lost track of what is included and what's not.

From sep 1 discontinued hoga abhi hai valid