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

 

[4uziaul]

You wouldn't have gotten the voucher on free renewal even earlier. Voucher was there only for paid renewal

Now it is not there even for paid renewal

Even those who received the card as a LTF offer got the welcome vouchers, and if someone completed the 15L milestone, they were also eligible for and received the vouchers.

But you are correct about one thing: no one is going to get it earlier. Everyone has to wait for their card anniversary.

 

[NikhilTravelLover]

I have Magnus, wife has Infinia LTF. Have decided to dump magnus before turning 1 year. I have never explored Amex cards.

Should we shift back to our previous way of Infinia spending or is there any reason for me to invest time in Amex world? Yearly spend might be around 10L with decent amount of flight spending.

I also plan on getting DCB LTF through Alumni program so that I still have good domestic/international lounge access. (not sure if DCB can compensate the lack of Priority Pass, please comment?)

I will not speak about the rewards , valueback etc sort of stuff.I know that the core of any credit card. But one thing which is often talked very less or ignored is customer satisfaction.

I guess Amex hits all high scores here. The way they treat us is impresive. They solve queries instantly. Chat support is also very good. All in all, you can sit back tension free if you are using Amex cards.

Acceptance is the biggest drawback of Amex. But if you can deal with that, I suggest you to try Amex for once.


P.S,- I hold Amex Platinum Travel

 

[vina]

Even those who received the card as a LTF offer got the welcome vouchers, and if someone completed the 15L milestone, they were also eligible for and received the vouchers.

But you are correct about one thing: no one is going to get it earlier. Everyone has to wait for their card anniversary.

I will not speak about the rewards , valueback etc sort of stuff.I know that the core of any credit card. But one thing which is often talked very less or ignored is customer satisfaction.

I guess Amex hits all high scores here. The way they treat us is impresive. They solve queries instantly. Chat support is also very good. All in all, you can sit back tension free if you are using Amex cards.

Acceptance is the biggest drawback of Amex. But if you can deal with that, I suggest you to try Amex for once.


P.S,- I hold Amex Platinum Travel

Corrected my post

 

[GASAHU79]

Is axis app down right now?

 

[GASAHU79]

Is axis app down right now?

Works now. Can be ignored

 

[phagocyte536]

I have 55k pending accelerated GyfTR rewards on May, June, July spends. Axis has not committed to post these before Sept1. Can we raise a concerted voice for this?

Requesting @TechnoFino 's help on this.

 

[aggarwal]

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

Is not digesting quarter meal easier as it is just one fourth to digest than full meal

 

[bonheur]

I have 55k pending accelerated GyfTR rewards on May, June, July spends. Axis has not committed to post these before Sept1. Can we raise a concerted voice for this?

Requesting @TechnoFino 's help on this.

Same boat, lots of points from Gyftr are pending for me as well. So far they are playing nice with milestone reward credits, I hope they do the same even for accelerated rewards from GVs.

 

[jchandra49]

After Sep 1, if I accumulate 2 lakh points, and before transferring the points, if I open a burgundy account for 5:4 transfer ratio, transfer the points and if I close the account after 1 month. is it a good idea?

 

[live_and_let_live]

After Sep 1, if I accumulate 2 lakh points, and before transferring the points, if I open a burgundy account for 5:4 transfer ratio, transfer the points and if I close the account after 1 month. is it a good idea?

Very good idea. !

 

[ishanmontella]

After Sep 1, if I accumulate 2 lakh points, and before transferring the points, if I open a burgundy account for 5:4 transfer ratio, transfer the points and if I close the account after 1 month. is it a good idea?

The fact that the revised tnc’s mention “time bound offering”, may mean that you won’t be able to pull this off after a few months from 1st September 2023.

“Time bound” may mean a) you would need to decide for the Burgundy account asap
or/and b) 5:4 offer even after obtaining Burgundy might be time bound.

Wait for further details from Axis on this.

 

[CARDBITRAGE]

The fact that the revised tnc’s mention “time bound offering”, may mean that you won’t be able to pull this off after a few months from 1st September 2023.

“Time bound” may mean a) you would need to decide for the Burgundy account asap
or/and b) 5:4 offer even after obtaining Burgundy might be time bound.

Wait for further details from Axis on this.

You must hand it to them for them the ambiguity here. They have intentionally been careful with their words. I sense they mean the latter, "5:4 offer even after obtaining Burgundy might be time bound." Because otherwise, it would defeat the purpose of holding a Burgandy private account with them. XD

 

[punpher]

 

[mojo_jojo123]

if we do now gyftr transaction will we get accelerated reward points before devaluation ?

 

[mojo_jojo123]

now I think axis should atleaset change back gyftr accelerated ratio to same as earlier ..elese magnus is as good as junk or SBI cashback CC which gives flat 5% on most spends.

 

[vina]

now I think axis should atleaset change back gyftr accelerated ratio to same as earlier ..elese magnus is as good as junk or SBI cashback CC which gives flat 5% on most spends.

I was checking my Vistara points when another thought crossed my mind

Vistara is going to merge with Air India early next year. If the Club Vistara program is devalued after that (nobody I have heard converted his ER points to Spicejet for example), then basically the while Magnus reward structure is toast for anyone trying to use points through that route

 

[sanju8486]

That's sad and Bad..

People done transactions anticipating value of reward points...

Very Bad By Axis on this point .

 

[phagocyte536]

if we do now gyftr transaction will we get accelerated reward points before devaluation ?

Don't even expect

 

[mojo_jojo123]

Is it good to open Burgundy account now or post Sep 1st when Axis comes out of new rule ?

 

[vina]

Is it good to open Burgundy account now or post Sep 1st when Axis comes out of new rule ?

Wait till they come

There may be some incentives

At the very least they seem to have a 5000 rupee incentive