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

 

[Dexter]

My October OGS is generated. Will forward it to my BM tomorrow

How do you check if you are eligible or not. My OGS got generated.

 

[divykk]

The branch official is correct. Only Select is LTF with Burgundy.

I have burgundy account and they denied LTF Atlas. Atlas will be given LTF based on salary criteria and the affiliate between your company and Axis. Only for those company employees. Check with your RM.

Coming to Burgundy conversion, for True burgundy you need 3L+ net salary credit. Unfortunately you won't be eligible M4B through salary criteria.
If you keep 10L in savings for 3 months (AQB) you'll be eligible for a paid M4B as the LTF offer ends this month.
I'd say just go with paid Atlas if your spends are less. You'll get 5000 points as joining bonus which is pretty decent and can get you 2 night stay in Grand Mercure or 1 night stay in some ITC hotels etc depending on where you transfer.

Thanks alot @MilesMax…got the point
And for atlas, paid is fine until we don’t see any devaluation.

 

[K.R]

How do you check if you are eligible or not. My OGS got generated.

Most of us are eligible..but the customer care has goofed up. If you meet the criteria mentioned in TNC you are eligible.. AQB of 10 Lacs for 3 Months, TRV of 30 lacs or Salary of more than 3 Lacs

 

[K.R]

Thanks alot @MilesMax…got the point
And for atlas, paid is fine until we don’t see any devaluation.

All cards when they reach thier expected no of customers are meant to be devalued to some extent. Think of Swiggy, Zomato.. Ola Uber etc

 

[CVR]

Atlas paid is beneficial only in the first year as the welcome benefit is only one time thing

U get renewal benefit every year.. if u end up being gold u again 5000 edge miles.. for platinum it is 10000 edge miles

 

[rajarchit]

Hello all. Please advice me. In my family we have 3 magnus credit card. Can I link one partner account to all these 3 card in travel edge?

 

[MilesMax]

How do you check if you are eligible or not. My OGS got generated.

How come? Mine still says not available.

 

[Dexter]

How come? Mine still says not available.

got in the mail

 

[rohitb]

OGS got generated yesterday (received mail in the night)
Called burgundy helpline number today and requested for an upgraded. Link was shared , consent sought, card generated , request registered and all done. As per rep, will receive in 14 days.

 

[MilesMax]

OGS got generated yesterday (received mail in the night)
Called burgundy helpline number today and requested for an upgraded. Link was shared , consent sought, card generated , request registered and all done. As per rep, will receive in 14 days.

Did you also happen to get an email that says you are eligible for the Magnus Burgundy upgrade?

 

[chasni]

OGS got generated yesterday (received mail in the night)
Called burgundy helpline number today and requested for an upgraded. Link was shared , consent sought, card generated , request registered and all done. As per rep, will receive in 14 days.

Called again but not eligible as per their system..LOL

 

[MilesMax]

Called again but not eligible as per their system..LOL

Same here. They asked me to go through RM for the upgrade.

 

[SM24]

I've shared my OGS with RM asking him to speed up the upgrade.

 

[Rags]

OGS got generated yesterday (received mail in the night)
Called burgundy helpline number today and requested for an upgraded. Link was shared , consent sought, card generated , request registered and all done. As per rep, will receive in 14 days.

That's maximum TAT, I received in 2days

 

[chasni]

I asked my RM to raise this to the product team.

Also, raised it with premium support. Got a call that I need to reconnect them in middle of Nov for upgrade. Whole new level of mess.

 

[K.R]

I asked my RM to raise this to the product team.

Also, raised it with premium support. Got a call that I need to reconnect them in middle of Nov for upgrade. Whole new level of mess.

Time Pass ker rahe hain.. What will happen in Mid of November. Their only way of Checking is OGS. If not now mean post Dec OGS. So go ahead with your RM

 

[chasni]

Time Pass ker rahe hain.. What will happen in Mid of November. Their only way of Checking is OGS. If not now mean post Dec OGS. So go ahead with your RM

Have asked my RM. He is useless. I hope he proves me wrong this time.

 

[K.R]

Have asked my RM. He is useless. I hope he proves me wrong this time.

Meet your Branch manager Sir

 

[chasni]

Meet your Branch manager Sir

Will do. I want to give my RM at least 1-2 days so that I have more reason to shout at the branch and create scene.

 

[Viper1057]

Connected with my RM first time today post OGS generation, he asked me to drop a mail to him and he will raise it further with his team. I gave him complete idea that what type of situation I am since in July devaluation it was mentioned that new customer will be eligible and they will tell on 1st Sept. but it got delayed till Sept 27, still I opened the account as fast as I could. I said him that few of people got approved through Branch head exceptional approvals and so on, so lets see where it goes. Overall he sounds knowledgeable and helpful but lets see where it goes since all RM knows how to talk but not many knows how to get things done xD

My only current criteria is 10L AQB and I only have 1 OGS showing 10L MAB currently..