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

 

[ra007]

Recently Axis gave me upgrade offer to IOCL card from Flipkart Axis without closing the Flipkart card…I negotiated with customer care and now received Magnus Paid approval as well 😂 which was unexpected…now thinking of closing Flipkart axis.

 

[sxchzy]

Recently Axis gave me upgrade offer to IOCL card from Flipkart Axis without closing the Flipkart card…I negotiated with customer care and now received Magnus Paid approval as well 😂 which was unexpected…now thinking of closing Flipkart axis.

magnus paid now is not that great
no renewal benefit
too many mccs excluded

 

[vikramsrit]

One question out of curiosity, has anyone with 3 existing Axis cards been able to upgrade to Magnus for Burgundy?

I have 3, one including the old Magnus which I was able to upgrade to M4B

 

[chasni]

I have 3, one including the old Magnus which I was able to upgrade to M4B

So you had 3 cards already (including Magnus) when you requested upgrade to M4B card?

Also, during migration did all existing ERs (from other cards as well) were transferred at 5:4?

 

[vikramsrit]

So you had 3 cards already (including Magnus) when you requested upgrade to M4B card?

Also, during migration did all existing ERs (from other cards as well) were transferred at 5:4?

Okay. So I had Axis Flipkart, Vistara Infinite and Magnus when I requested for upgrade. Axis Flipkart and Vistara Infinite do not accumulate any rewards points. But all my existing Magnus ERs were transferred at 5:4

 

[jonamdhar]

For Burgundy customers who have LTF Magnus Burgundy, would the bank issue Select / Atlas also as LTF.
Or is it just one of the cards will be LTF.

 

[hrishig]

For Burgundy customers who have LTF Magnus Burgundy, would the bank issue Select / Atlas also as LTF.
Or is it just one of the cards will be LTF.

both will be free

 

[CVR]

For Burgundy customers who have LTF Magnus Burgundy, would the bank issue Select / Atlas also as LTF.
Or is it just one of the cards will be LTF.

Select will be LTF not Atlas.

 

[ra007]

magnus paid now is not that great
no renewal benefit
too many mccs excluded

I know just for time being I took I have sbi elite compared to that Magnus is better and recently got SC ultimate for specific requirements,so might close down elite

 

[chasni]

Okay. So I had Axis Flipkart, Vistara Infinite and Magnus when I requested for upgrade. Axis Flipkart and Vistara Infinite do not accumulate any rewards points. But all my existing Magnus ERs were transferred at 5:4

Thanks. But I have Samsung, Atlas and Magnus. So, my concern is whether my Samsung ERs will be transferred at 5:4 or not?

 

[MilesMax]

Thanks. But I have Samsung, Atlas and Magnus. So, my concern is whether my Samsung ERs will be transferred at 5:4 or not?

Axis did not seem to have the technology to differentiate (rather a very complex process for them) the ERs from different cards back when they announced the transfer.
The whole move of M4B and seperate bucket was to solve that problem. (One of the problems)
As many M4B users confirmed that their ERs were having 5:4 after a week of having card. Everyone thought that the new bucket idea was dropped as it was too complex but
Just recently the new bucket started accumulating points so not sure what they are up to now.

 

[chasni]

Axis did not seem to have the technology to differentiate (rather a very complex process for them) the ERs from different cards back when they announced the transfer.
The whole move of M4B and seperate bucket was to solve that problem. (One of the problems)
As many M4B users confirmed that their ERs were having 5:4 after a week of having card. Everyone thought that the new bucket idea was dropped as it was too complex but
Just recently the new bucket started accumulating points so not sure what they are up to now.

I don't plan to use my Samsung card. I am more concerned about points already accumulated whether they would be transferred. I am thinking of closing Samsung card to avoid any issues in upgrade and ERs.

 

[MilesMax]

I don't plan to use my Samsung card. I am more concerned about points already accumulated whether they would be transferred. I am thinking of closing Samsung card to avoid any issues in upgrade and ERs.

I think they would be transferred as a one time transfer process.
Also need to confirm with M4B holders what's the current status with the ERs, are they getting the 5:4 back again on them in the existing ER bucket itself like just few weeks before.

 

[K.R]

Who ever wants to increase the Average Monthly Balance for October OGS has 1 hour left and funds can be removed after 1hour as well

 

[SM24]

Btw:

An axis sales guy told me today that the Nov 30th offer is likely to get extended.

 

[Avijeet]

Btw:

An axis sales guy told me today that the Nov 30th offer is likely to get extended.

Nov 30th offer??
Please elaborate

the Magnus to Magnus-Burgundy upgrade offer?

 

[chasni]

Just checked with my RM. My latest AQB is more than 10lacs. Last month it was 2 lacs.

 

[K.R]

Just checked with my RM. My latest AQB is more than 10lacs. Last month it was 2 la

Did you try customer care..who knows may be the system now shows you as eligible

 

[chasni]

Did you try customer care..who knows may be the system now shows you as eligible

I tried but same old shit that I am not a true burgundy even though my Avg month TRV and AQB both are met....LOL

 

[K.R]

I tried but same old shit that I am not a true burgundy even though my Avg month TRV and AQB both are met....LOL

Means you have to wait till 4-5th of this month till OGS is generated