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

 

[Swastik]

Thanks. But the PDF says
"Your lounge access benefits will be based on your MAGNUS for Burgundy Credit Card spends in the previous 3 calendar months."
Hence, these may be exclusions for points accrual/annual spend calculations for a fee waiver, but it may be okay for lounge access. Am I right?

Sounds about right

 

[kumarvishwas]

BookmyShow has updated Magnus validity up-till next year, possible that the BOGO offer stays after recent outrage?

 

[Swastik]

BookmyShow has updated Magnus validity up-till next year, possible that the BOGO offer stays after recent outrage?

Wait till 20th April hits ,things might change quickly

 

[Riva]

Sounds about right

With Axis you should just expect the worst. They have excluded these spends for all rewards and benefits so expect it to be for lounge access as well.

 

[Riva]

BookmyShow has updated Magnus validity up-till next year, possible that the BOGO offer stays after recent outrage?

This is an old post and I don't think BMS has updated it. Even the Axis Magnus page shows original features as on today.

 

[bvc19296]

This is an old post and I don't think BMS has updated it. Even the Axis Magnus page shows original features as on today.

No in the old one till yesterday it was mentioned as 31-Mar-24.

I guess this update is from BMS side now and from Apr 20 2024 Axis might ask them to change it.

 

[Ramakgmc]

Will paying the credit card bill through a Burgundy debit card qualify me for lounge access? 5K spend needed, I suppose.

 

[Viper1057]

Will paying the credit card bill through a Burgundy debit card qualify me for lounge access? 5K spend needed, I suppose.

Yes for now it will get counted, new rules apply after 1st may where they have excluded but for lounge access still not sure

 

[mastfun]

@K.R Still waiting for response 🙄 Did you close ur Burgundy Magnus and Account or decided to keep it for now.. I know a few people who literally fought with Axis for this card 😀 including @Viper1057

 

[Rags]

M4B is still the best card righ

@K.R Still waiting for response 🙄 Did you close ur Burgundy Magnus and Account or decided to keep it for now.. I know a few people who literally fought with Axis for this card 😀 including @Viper1057

M4B is still the best card in india. Why does some one wants to close with out an alternate ?

 

[mastfun]

M4B is still the best card righ

M4B is still the best card in india. Why does some one wants to close with out an alternate ?

For a common person like me , all the benefits are gone for good 👍
1. BOGO 500 off of second ticket.
2. Meet and greet us reduced to 4 which is like 1 visit for me (family of 4)
3. Spends less than 1L per month!

 

[Harry1]

For a common person like me , all the benefits are gone for good 👍
1. BOGO 500 off of second ticket.
2. Meet and greet us reduced to 4 which is like 1 visit for me (family of 4)
3. Spends less than 1L per month!

Burgundy Debit card still has BOGO offers.

And base reward rate is 4.8% even for spends below 1L, which is exceptional. I think only sbi cashback will beat it, but that is also due to devaluation since long time.

 

[mastfun]

Burgundy Debit card still has BOGO offers.

And base reward rate is 4.8% even for spends below 1L, which is exceptional. I think only sbi cashback will beat it, but that is also due to devaluation since long time.

But what about the interest we are losing on 10L, I believe it nullifies now!

 

[amitr29]

For a common person like me , all the benefits are gone for good 👍
1. BOGO 500 off of second ticket.
2. Meet and greet us reduced to 4 which is like 1 visit for me (family of 4)
3. Spends less than 1L per month!

For BOGO you have other cards...Meet and greet is a facility which one can live without. You get only 4, what If you have to travel 9-10 time. You will be without meet and greet or will get so used to it that you will spend 2k to use the service, leading to unnecessary expense

 

[shashankrt]

But what about the interest we are losing on 10L, I believe it nullifies now!

Exactly.. unless you have Burgundy via any other means (salary or investments) loss of interest is atleast 45K even when compared with other FDs.

 

[rogerthat]

Burgundy Debit card still has BOGO offers.

And base reward rate is 4.8% even for spends below 1L, which is exceptional. I think only sbi cashback will beat it, but that is also due to devaluation since long time.

Atlas gives base rewards of 4% (for now) at a small fraction of the total expense required to maintain a "premium" relationship with an untrustworthy bank...

 

[akf]

Does anyone know what is the validity of meet and greet? As in the 8 meet and greet is credited after renewal or is it a calendar year thing ?
I have used 2 meet and greet in Jan 24. Card renewal happened in Mar 24
1. Do I have 8 bookings left or 6 ?
2. Can I book for Jan 25 ?

 

[saketreddy]

Does anyone know what is the validity of meet and greet? As in the 8 meet and greet is credited after renewal or is it a calendar year thing ?
I have used 2 meet and greet in Jan 24. Card renewal happened in Mar 24
1. Do I have 8 bookings left or 6 ?
2. Can I book for Jan 25 ?

Calendar year.

Have 6 left.

Yes, can book for jan 25.

 

[akf]

Calendar year.

Have 6 left.

Yes, can book for jan 25.

Thanks, just got a call from Axis team.

Calender Year - Correct
6 left - Correct
But cannot book from 2025 onwards.

 

[Riva]

Can someone please confirm if domestic lounge guest access on M4B card requires the card owner to be present?
If not, how can one give guest access to a family members?