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

 

[bala.sakthi1983]

Guys just to clarify. Insurance premium gets counted for monthly milestone on Magnus. Am I right? With so many devaluations, there's utter confusion.

yep.

 

[miles_guy]

Anyone selling Axis ER points (more than 1 lakh), do contact me 🙂

 

[rahulgaur]

Anyone selling Axis ER points, do contact me 🙂

I am interested. What would be the offer from your side? I am expecting the bonus 25k point for July month.

 

[khaitan.rajesh29]

I am interested. What would be the offer from your side? I am expecting the bonus 25k point for July month.

I can buy at 50p

 

[bala.sakthi1983]

I can buy at 50p

Why? What you gonna do with that? I'm curious to know

 

[Ashutosh007]

I am interested. What would be the offer from your side? I am expecting the bonus 25k point for July month.

I am willing to buy them for 50 paisa per point

 

[bala.sakthi1983]

I am willing to buy them for 50 paisa per point

Seriously? IS this kind of scam or what?

 

[Ashutosh007]

Seriously? IS this kind of scam or what?

why would it be a scam?

 

[jags123]

I am interested in buying miles at 70 paise per mile if anyone is interested to sell them. Alternatively if anyone who flies to NZ/AUS can tell me what the revenue ticket costs for these sectors are, that would be very helpful

 

[jags123]

P.S. need around 90k KF miles which translates to around 1.12L ER points

 

[Harry1]

Got a sms from Axis bank to spend 150k on magnus for annual fee waiver by june 2024. Is this a revision or for targeted customers.

I guess they missed to add one zero.

 

[vikramsrit]

Got a sms from Axis bank to spend 150k on magnus for annual fee waiver by june 2024. Is this a revision or for targeted customers.

It is 15,00,000/- not 150K

 

[SSV]

Got a sms from Axis bank to spend 150k on magnus for annual fee waiver by june 2024. Is this a revision or for targeted customers.

It would be nice and clear if you could put those numbers in simple Indian numbering System... instead of changing and chopping in your edited post...

 

[BMR]

AXIS going crazy had done a transaction on 31st July on 11.40PM and it showed up as 1st Aug transaction in unbilled. Have mail PNO officer lets see what happens.

I was told by the tf community never do transaction on a cusp date. Transactions done on first and last day of the month always create this issue.

 

[BMR]

Guys one question on Burgundy.

For the burgundy salary account , can an individual open the salary account himself, or does the company has to open the salary account ?

 

[ash_13]

Guys one question on Burgundy.

For the burgundy salary account , can an individual open the salary account himself, or does the company has to open the salary account ?

You can open yourself.

 

[SSV]

Guys one question on Burgundy.

For the burgundy salary account , can an individual open the salary account himself, or does the company has to open the salary account ?

You can DIY, just find out if they need your employer in their panel. I suspect this may not be a requirement. Only requirement is salary limit..

 

[bigbrain]

Guys one question on Burgundy.

For the burgundy salary account , can an individual open the salary account himself, or does the company has to open the salary account ?

You cannot open salary account if your company is not listed in there website. I tried opening Priority account a few months ago and my compnay was not listed. My RM told me I cannot proceed in that case. Ended opening a liberty account then.

 

[chocochoco]

Hi guys, I had some 3L points out of which i converted 1.25L to Club ITC (which i will convert to Mariott).

I am thinking what to do with other points. I have never used miles before. Me and my wife have to travel to Dubai every year from Delhi so which airlines transfer should i go for assuming I want to travel via business class (never travelled in business class before and would like to try it).

Thanks for the help.

 

[bigbrain]

Hi guys, I had some 3L points out of which i converted 1.25L to Club ITC (which i will convert to Mariott).

I am thinking what to do with other points. I have never used miles before. Me and my wife have to travel to Dubai every year from Delhi so which airlines transfer should i go for assuming I want to travel via business class (never travelled in business class before and would like to try it).

Thanks for the help.

You have a limit of 60k green points per year that you can transfer from ITC to Marriott.

Check Emirites/Qatar. They are supposed to have the best business class seats among all.