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

 

[D7162]

I heard from someone that Axis is issuing LTF Magnus now agents/employees are demanding whooping upto 25k for issuing it LTF.
They issued LTF Magnus to a student as well.
Devaluation is inevitable.

I heard that some agents were taking some percentage and giving magnus with 5-10 lakh limit - he said scam was opened and that's why magnus issuance was on hold at my location - not sure though

 

[NOOBY]

As the tread is now whooping 88 pages (at the time of writing this post), I request @bugmenot and/or Moderators to take over the post by keeping the first post updated with all the news and facts/links/etc so that people (like me) coming after 1/2 days don't have to scroll through 20/30 pages

First post contain nothing but images. I suggest changing that to smaller thumbnails (or links) and updating the post as and when new information keeps coming

 

[VijayflyRaven]

Soon it is going to rain milestone points for axis Magnus. Hope Accor redemption works.

 

[navam]

I heard that some agents were taking some percentage and giving magnus with 5-10 lakh limit - he said scam was opened and that's why magnus issuance was on hold at my location - not sure though

Lolz what the heck was going on around this card haha, it became a tiny corrupt country of its own with magnus being the passport

 

[D7162]

Lolz what the heck was going on around this card haha, it became a tiny corrupt country of its own with magnus being the passport

But seems axis was not interested in patching loopholes and they were enjoying huge new customers. I still couldnt belive that They reversed reserve block and replace loophole points but didnt patched that

 

[bimanpaul]

Axis Bank devalues five credits cards, including co-branded card with Flipkart

Axis Bank devalued Axis Bank Privilege, Axis Bank Reserve, Axis Bank Select, Axis Bank Flipkart and Axis Bank My Zone credit cards. The devaluation comes into effect from August 12th to August 14th. While it’s still unclear whether the bank has devalued the Magnus credit card.

www.moneycontrol.com

5 credit cards devalued but no confirmation on Magnus.

 

[Sharjeelshaikh]

Doston my axis guy gave update I have hidden name .but conversation is true

 

[ash_13]

I received today. Had transferred on 9th July

Yeah I received my transfer in accor yesterday, had initiated transfer on 9th.

 

[typhoon]

All these documents and links are genuine.

However, it seems Axis has created these documents in extreme hurry. These documents were created on 7th July at around 345PM (Friday evening). Interestingly, magnus document was leaked on 8th july.. shows how vulnerable Axis systems are and seems their card department is being run by novices.

Also, they didn't even change the file title, it reads on all documents - "Updated_Myntra_Offer"

find the author, she only drafted it. 😅

 

[typhoon]

She is only behind all this devaluation.

 

[Heehaahee]

Ye banda credit card community ka deepak kalal he. Kuch b and shand post krta rehta he.

He thinks yhi hai saana akela...

 

[ALOAK]

He thinks yhi hai saana akela...

Kya kare youtube earning hai.

 

[Walter White]

She is only behind all this devaluation.

Deepika Padukone bhi responsible hai jiski endorsement ki fees deni padti hai Axis ko. 😛

 

[Ace87]

Apparently the pdfs with new tnc has vanished from Axis sites. Does this mean anything.

Who knows. Your guess is as good as mine.

 

[Venky]

Doston my axis guy gave update I have hidden name .but conversation is true

 

[Chaitanya-a]

Apparently the pdfs with new tnc has vanished from Axis sites. Does this mean anything.

Who knows. Your guess is as good as mine.

This only means that there is so much of mismanagement on Axis' side.

 

[Slayer]

Actually mine did too

 

[QUIKSILVER27]

The problem is not for people who milked Magnus. It is for people who are yet to milk the cow.

very true!

 

[Sharjeelshaikh]

No hopes . copy paste Kia my screenshot..lakh gaali dedu axis sphir bhi kal 20000 ka apay voucher lia socha last time milestone hit karlu.phukat ER khaane ki aadat ho gayi,

 

[Walter White]

Doston my axis guy gave update I have hidden name .but conversation is true

This is what I got from my Axis guy. 😉