Axis Credit Card Devaluation: Survival of Magnus & Fall of Reserve

By | August 21, 2023
Axis Magnus & Reserve Devaluation

Unless you’re living in a cave, you would know that Axis Bank Magnus & other Axis Super Premium Credit Cards in its current form (till 31st Aug 2023) are not only the best credit cards in India but perhaps in the entire world. 

No one ever had (or) will ever have a card that’s as lucrative as Magnus & Reserve. This is primarily because, in an industry that runs at ~7% max. optimised reward rate, Axis Magnus has the ability to give as good as ~25% or even ~50% and more reward rate if you know where & how to redeem the points. 

Speaking of which, Axis Bank has decided to alter the transfer ratio of edge reward points to its partners.

From its current 5:4 transfer ratio, it’s moving to 5:2 but also have an option to stay at 5:4 with a condition. While this is the primary change that’s going to affect us all going forward, there are also few other restrictions going live along with it.

Let’s have a look at it all in detail,

Axis Magnus Changes

Here’s a quick look at the upcoming changes:

  • Monthly milestone benefit of 25,000 bonus points is removed.
  • Accelerated Rewards of 35/200 INR (~14% beyond 1.5L spend a month)
  • Transfer ratio to partners drops from 5:4 to 5:2 (the major devaluation)
  • Transfer ratio can be held at 5:4 if you’ve Axis burgundy account with required NRV (30L NRV or 10L balance)
  • Annual fee hiked to 12,500 INR and renewal fee waiver only on 25L spend
  • No renewal benefit
  • Detailed T&C here

The removal of Monthly milestone benefit is the major hit for most going forward, as earning points at that rate (like 24%) is no longer possible.

However, introduction of accelerated rewards over 1.5L is good for some, which will be helpful during the upcoming Diwali shopping season.

My personal thoughts: Honestly it’s a good move taken by the Bank, as we still have the option to stick to 5:4 with burgundy account – this is a temporary offer and it may get dropped too if people get into account churning after availing the benefit.

But asking for higher fee & no renewal benefit for those with 5:2 is quite unfair in my opinion. They could have applied this 12.5K fee to 5:4 accounts alone to easily differentiate between the two.

Axis Reserve Changes

Here’s a quick look at the upcoming changes:

  • Transfer ratio to partners drops from 5:4 to 5:2
  • Transfer ratio can be held at 5:4 if you’ve Axis burgundy private account (5Cr NRV) with Axis Burgundy Private Credit Card
  • Renewal fee waiver only on 35L spend
  • Detailed T&C here

It’s quite a surprise that Axis Bank has decided to do away with 5:4 for Reserve and there is no option to stick to it unlike Magnus. If you wish for 5:4 at reward rate of Reserve, you’ll need to go for BP Account + BP card. With more than 10X NRV requirement compared to Burgundy, this is not everyone’s piece of cake.

My thoughts: This is one of the worst move I would say as it’s unfair to devalue Reserve without a “reasonable” option to hold on to 5:4 transfer rate unlike Magnus.

However, as a temporary workaround, it’s still possible to have 5:4 on Reserve as long as one is holding the Magnus+Burgundy combo along with Reserve, as it belongs to same pool of points.

This workaround may probably be actioned if it goes beyond control, which I doubt it would, because of the 5L annual redemption cap. Also, anyway there is “far better” earn rate on Magnus itself for those who spend beyond 1.5L, so not a big deal for those who take advantage of this workaround.

Common Changes

  • Gov. spends & utilities will no longer earn rewards.
  • Annual redemption cap of 5,00,000 edge rewards per Cust ID.
  • Multipliers on Axis GiftEdge Portal has dropped from 5X/10X to 2X/3X for most partners.
  • High Value Business Spends are not tolerated.

Axis Bank has already started sending emails to those with high value business spends and for those having spends with merchants falling under potential “manufactured spending” category.

My Thoughts: It was quite a major move and it’s first of its kind in the industry to see banks suspend rewards account because of the type of spends.

While this usually happens on accounts with very high value txns (high 7 figure) in other banks, here, the notices were sent even to those with lower annual spends on those merchants. I wish Axis releases those small scale accounts from suspension at least post Sep 1st. Let’s see how generous Axis is about the suspended accounts.

So what to do?

You’ll have to do 2 things going forward if you wish to exit Magnus/Reserve or just to feel safer about 5:2 redemption rate,

  • Transfer all your points before 25th Aug 2023. (just to be on safer side)
  • Divert spends elsewhere from 25th Aug 2023 if you wish to exit (as sometimes Axis may not credit points for a week)

If you ask me where to redeem, here are the most common and useful options:

  1. ITC – redeem ITC points at 1 INR per point at ITC hotels. You may also redeem at same rate for ITH travel vouchers and redeem them for any flight/hotel etc.
  2. Accor – redeem accor points that gives a value of 1.8 INR per point, which is the highest of all and stay at accor hotels across the world. Can also be transferred to airlines like Quantas at 1:1 from accor. Points expire in 1 yr if no activity is there on Ac.
  3. United & Turkish airlines – while my favourite is united for star alliance redemptions, you may also go with Turkish if that works for you. You can ideally get 1-2 INR per point and sometimes even lot more depending on the redemption. 

There are of-course many more options to it if you’re sitting on too many points, like Avios to access one world network, yet comes with high tax.

Hence, above works for most. Ideally you may spread it across 3 or 4 partners, as you wish. Note that moving all points to single partner is “risky” because the partner programs too might get devalued any-day.

Where else to spend now?

Axis cards may still serve good as mentioned above with options to stick to 5:4 transfer ratio.

If that doesn’t help or need options for more spends, then it’s time to explore our good old friends from HDFC, which can get you a reward rate of 3.3% – 6% depending on where you redeem. Here are the suggestions going forward:

If you need more cards, you may as well explore IDFC first wealth credit cards and many other co-brand cards. Have a look at the best cards list for 2023, expect an update to the article in a week time.

For those who can’t make it to 5:4 on Magnus will eventually move to Axis Atlas and it’s only matter of time before it’s touched. But as Atlas might not give catastrophic loss to bank like Magnus, it may continue to live longer in it’s current form.

Final Thoughts

I think we’ve to say a big thank you to Axis Bank for what they did so far with Magnus and the launch of transfer partners at attractive transfer rates.

It was 1 year of pure Joy! 

This has helped 10,000+ cardholders enjoy massive rewards within a year which would otherwise take a “decade” or more to earn & experience the joy of rewards.

It has helped many enjoy the finest luxuries in life, for example, I’m writing this article from a beautiful ITC property by redeeming ITC green points transferred from Axis.

At the same time, I’m sure Axis Bank has enrolled highest number of super premium cardholders in the country, in a very short time.

It was talk of the year across various platforms, people and places. The card was so lucrative that almost everyone I know have 1 (or) more Magnus credit cards in the family. It has become like a hot “stock pick” of the year, so much so that even financial influencers started becoming credit card experts. 

And all that is now coming to an end (for most) as the primary Wow factor of monthly milestone benefit has ended.

That said, it’s also going to be tough for the incoming Citi Prestige cardholders to adapt to the NRV requirement to enjoy similar transfer rate as Prestige. Or maybe Axis has to put all Citi Prestige customers on Magnus 5:4 to keep them without cancelling.

Overall it’s a painful change just like any other change in life, but it’s fine that they at-least settled with a reasonable option for those who wish to give Axis some good business via regular banking.

The Lesson

It’s essential to understand that such devaluations are obvious when reward rates are unimaginably high. So it’s important to burn off points from the card & loyalty accounts “at the earliest”.

This devaluation also means all the time spent in exploring too many airline programs are now almost pointless, as earning points at that rate is no more feasible. That’s part of our life very well wasted! 

So perhaps it’s the right time to go through life beyond credit card rewards article. But what if I say even that is useless beyond a point? That, we’ll discuss some other day.

Until then, enjoy the 5:4 transfer rate with revised options!

Author: Siddharth

Helping Indians to choose right credit cards, pick right offers and enjoy luxury vacations for less. Day & night exploring the spiritual reality of our human existence.

116 thoughts on “Axis Credit Card Devaluation: Survival of Magnus & Fall of Reserve

      1. Tony Ian

        Obviously it is unsustainable. Only fools will expect such rewards to continue.
        Nowhere in the world will a CC give such rewards as Axis Reserve and Magnus did.
        It was merely to onboard as many customers as they can.

        1. Rajesh

          Any idea if the burgundy account has to be opened now, or we can open it 6 months down the line when you have sufficient points

  1. AAJ

    Lucky to have renewal during Oct, will possibly close by sep end. 25k was best so far, sad to see Magnus losing so quickly

  2. Virgo

    Sid, In the Common Changes section, you mention insurance will no longer earn points. What are you basing this on? None of the MCCs called out by Axis in the devaluation pdfs is of insurance to the best of my understanding.

    1. Siddharth Post author

      Apologies, removed it. I’ve had that from previous “leaks” and forgot to update as per latest.

      1. AK

        Will income tax spends still go through until August 31?

        And monthly 1L milestone is also alive until 31st August right?

  3. Sharad

    Hi Sid,

    This is one of your best written article 🙂
    Indeed last one year was full of joy. 25K points every month used to feel like a second salary….LOL. As they say every good thing has an end, so is this. Thank you Axis for so many international and domestic holidays and giving us memories to cherish for our lives.

    ONE QUESTION: What is ITH travel vouchers offered by ITC? I am not an ITC member but if it gives 1:1 for flights and hotels then it seems it is worth considering to transfer edge points before Sept 01. Any link which you can share please?

    1. Siddharth Post author

      It’s there on ITC website. But the downside is, it’s all physical vouchers and it’s not worth spending too much time on that, unless one has way too many points to handle.

  4. sudheep

    Very well written Sid.

    Am in a dilemma whether to activate RESERVE card which is on transit.

    40k ITC/ACCOR/MB + Accor plus+ Club Marriott (useful – me being MB platinum) should cover the fee … right?

    airport transfers will be bonus.

    wont be using the card afterwards.. will stick to DCB/Plat Charge .

    1. VishV

      If you’re already thinking about recouping the fee from Reserve, you’re already in loss. The card has to reward you much beyond that and sadly, Reserve is nowhere near that point anymore. I’d strongly suggest to move out of that mindset and not activate the card. But something tells me you already did it 😄 All the best 👍🏻

  5. Nikhil

    My magnus renewal is in august, definitely before 1st sept. Will I get renewal benefits as these changes are effective from 1st sept?

  6. Arvindkumar Venkatesan

    I was wondering how they started giving the Magnus CC as LTF for Burgundy customers. Within a cpl of months it sad to see this devaluation. But as you menionted i was defenitely expecting the devaluation but this was very steep. So probably this is no more the primary card for several going forward!

  7. Arun Murugan

    *Unless you’re living in a cave *
    Ultimate words to start with 😉

    Remember Sid, my suggestion of 5:2 or 10:3 ?
    It happened, but never thought they will remove the monthly milestone 😕

    But still with Burgundy, we may enjoy the benefits for couple of more months

    Internet is already divided 🤪on people showing off with their Excel skills on educating how bad it is to upgrade to Burgundy.

    But this card is intended for HNIs, and this is still an amazing one for those who get 3L salary.

    And with 5:4 ratio, it’s amazing.

    Returns are approx 43% !!

    Example: Booking a flight tickets worth 1L and get 30k Edge points, and you already mentioned about the 1.8 times value .

    1. Siddharth Post author

      Yea, I do remember that conversation. 😀

      For real high spenders, it gives handsome returns for sure with Burgundy.

      I hope they don’t go for the travel edge capping next. lol.

      1. hrihsikesh

        they have already capped travel one can book up to 2Lac for 60P then it drops 35p

    2. Krishnakumar


      As per my calculations for 3 L spend you get 35250 edge points now for Magnus with Burgundy . Is that right?

  8. Suyas Gupta

    Which card to use for Electricity bill payment now ? I was using magnus for the points and milestones benefits. Any suggestions ?

    1. Anuj Jain

      Buy amazon balance vouchers (5x infinia, Max 20k) and then pay bill.

  9. KJ

    I have got 200k points – any suggestions with which arline / hotel partner i should transfer? based on my research for domestic vistara is best as 1 mile = ~1 INR and for international krisflyer 1 mile =~ 1-1.5 INR

    want to get maximum value out of points.. please advise… have noted your suggestions above

    1. Aka

      I was seeing krisflyer and everywhere the miles needed to south east Asia was exorbitant! How do u see more than a rupee return ? I also have more than 2 l points and was thinking where to park it .. don’t know what will happen to vistara and and it is with limited inventory seen now of Reward seats… shouldn’t be too prudent to transfer there….have been thinking about clubitc/ Accor for approx 50k points and rest in any airline..the airline part needs to be figured out !

      1. KJ

        i was checking for bali and it was showing 40K miles + INR4.5k (saver category) for round trip…could you elaborate more on why vistara is not a good option ? you meant the seats are limited for booking through points? i checked for few dates randomly for Mum to Del and they were avaialble…

        Hi Siddharth, could you please guide? my first preference would to be transfer to airlines and then hotel only if get more than half or double the value of airline

  10. Amitabh Maheshwari

    I will use Infinia whenever Smartbuy is available, axis airtel wherever accelerates cash back is applicable and Amex plat travel and Amex MRCC at all other places and websites where Amex is accepted. I believe this is the best strategy for me now. I have around 60K edge reward points and 25K more are accepted soon. I will transfer these to ITC and go for a nice vacation.

  11. Sundar

    If we have burgundy account with Magnus and Reserve, whether transfer ratio will be 5:2 or 5:4 from September.

    1. Harshal

      I had word Axis Savings Bank account executive. He mentioned with Axis Burgundy account you would be able to redeem points at 5:4 and most important of all there will be no renewal fees for Magnus with Burgundy Salaried bank account

  12. Vikram

    It’s hard to ignore the timing of the massive RuPay push and major cards on Visa/Mastercard platforms being devalued. I mean it’s hard to think that these 2 happening in parallel is just a mere coincidence.

  13. rudresh

    Hi siddharth,

    Is it worth considering Infinia (M) Paid upgrade from LTF Regalia? Most likely I will exit Magnus after points transfer.


      1. Aka

        Would you please do an article about the best ways to park these points..I do know you have touched the subject here but a more elaborate one ( like the one u did for amex points ) would do lot of readers good. Please consider!!

        1. Mayank

          I second that!
          An article on the best options to transfer ER points would be really beneficial.

      2. Rudresh Pramanik

        Thanks , got the Infinia. The metal has more heft than magnus.

  14. Darshdeep Singh Grewal

    Kindly remove Standard Chartered Ultimate from list of cards as there are no good redemption options available, you can earn points but no place to redeem them.

    1. Siddharth Post author

      I still see Marriott/Taj. Aren’t they good options?

    2. Rags

      Agree, SCB ultimate is not of value with so many restrictions on earn and redemption

  15. Paras

    What would you suggest ? Magnus vs Infinia ? Now after devaluation

  16. Vipul Aggarwal

    Government spends points would be available in Burgundy private credit card?

  17. VK

    I have a Magnus which is scheduled for renewal this oct. Will I be charged 12500 + taxes or old price? Also what about fee renewal waiver. Old one or the new? Totally confused.

  18. Ganesh Taddi

    Hi Siddharth,

    Need small suggestion!
    I have atlas/magnus/reserve 3 cards
    Atlas- now in platinum tier
    Magnus/reserve- next year fee waiver off already due to spends exceeded
    Now is it wise to close resrve and apply for vistara infinite as reserve benefits for next year meet and greet/chaffuer don’t seem that much lucrative

    Ps- I am from Andhra don’t have vistara route yet mostly to use I go to hyd

  19. ajay

    Nice article Sid. Don’t know how busy your are. But you should explore other lifestyle blogs now given your way of writing, and I am sure they would be successful.

  20. Madhusudan

    Its not 14% its 7% after accelerated earning above 1.5L

  21. krishna

    So If I just upgrade my account to Burgundy will the point system 5:4 will continue? or that will also change in due time?

  22. Mahesh S. Panicker

    Though I wasn’t considering Magnus in the near future, this was a card I was trying to under mose closely. And this happened. Massive hit from Axis, who really went bonkers with all their cards, guess nothing was spared from top to bottom.
    Noticed you mentioned SC Ultimate as an option worth exploring. Had received an upgrade offer to the card recently, and eventually decided not to take it. Yes they do give 3.3 percent for a lot of categories despite the recent devaluation, but their reward portal is an absolute disgrace, a total junk yard! We are now used to not having Amazon or Flipkart, but this had really nothing! And then they have spend based restrictions on international lounge access and no incentive to spend otherwise. So not sure its an option that Magnus users would enjoy…

  23. Magma

    The author would now need to do a 2 pronged or maybe a 3 pronged comparison

    Magnus + burgandy vs Atlas
    Magnus vs Atlas

    When all the devaluation dust is settled

    To see what makes sense after you work out the annual benefits or their absence thereof and which option would suit whome ?

  24. bikash

    5lakh point transfer capping will be there for burgundry private credit card aswell? for burgundry its not mentioned any where..

  25. Iyer

    1) If I understand the email from axis bank correctly by August 10, we should see credit of 25k points each for April, May, June and July.
    2) My card is up for renewal in Sep hence I plan to stop using this card after July monthly milestone is met. Transfer all points before Aug 15 and cancel the card by Aug 25 (after ensuring all points have been redeemed successfully).

    Is the above sound good or am I losing anything on table?

  26. Ravi Arya

    Hello Sid!
    Is it possible to book indigo tickets using any of the airmiles program in which Axis Edge points can be redeemed.

  27. vadakkus

    The Indian credit card market is really lopsided now. I realised after reading in another forum that if you want to be really rewarded for credit card spends in India you need to earn >3L per month. All super premium cards are available and cater to only people in this income bracket.
    Even if you spend like 1L per month the best you can get is 1.5-2.5% return consistently on general spends that constitute average online and offline spends including all categories. and that too if you are in the miles game, otherwise the best you can get is 2%. Those who spend 20K and 1L all get the same return.
    There is a big hole in the middle of the market. You have a pile of cards at the bottom for small-time spenders who mostly shop online and then they directly go to the super-premium cards. There are like 6 products all targeting the very narrow HNI crowd.
    There is no product optimised for those who spend around 12-15L per month using credit cards and they have to settle for mediocre cards. It is sad that Axis Ace or maybe ICICI APay is the best credit card that is available for such a bracket of high spenders today.

  28. Dhruv Soni

    Hi Siddharth,

    Do you hold an Accor Plus membership for Asia Pacific? Can you please write an article on Accor Plus?


  29. Suresh

    Hi Siddarth,
    I had gone through your review of the Magnus card and liked the benefits. so, I had applied for the card on 7th July. The card is now appearing in my axis mobile account. In the meantime, this devaluation happened.
    I have Flipkart Axis , Amazon pay ICICI, HDFC Regalia ( I have now applied for the upgrade online – want Infinia – not sure how the bank will respond), ICICI platinum and Amex Gold cards. I had also got Indusind Pinnacle card recently.
    I also have banking relationship with Axis ( not Burgundy).
    I had applied for Magnus to utilize the RP for transfer – for Travel / hotel booking for family trips. My credit cards spends are roughly 10-12 L PA.
    Considering the above details and the revised welcome and renewal fee / RP structure of Magnus, i am not sure whether to activate the Magnus card after receipt (understand they can’t charge me if it is not activated ).
    It will be great if you can revert with your views / advice.
    Other forum members also may weigh in.

    1. Gautam

      You should activate. You will Tatacliq vouchers of value Rs. 10,000 (net outlay is Rs. 1800). Plus if you spend Rs. 1 lac + in August, you earn anywhere between 13-15%.

  30. Selva

    Magnus which is scheduled for renewal this oct. Will I be charged 12500 + taxes or old price?
    Ans : 10000+ GST ,(old price) AFTER 2024 1st September ie, next renewal you may pay 12500+GST
    Also what about fee renewal waiver. Old one or the new?
    Old One 1500000 till 31st august 2024 after 1st Sep 2024 2500000.

  31. Chayan C

    Hi Sid,
    Will there be any capping on insurance premium payment from September?
    If someone spends 5 lacs on insurance premium, how many points will he get?

    1. Siddharth Post author

      1L spend is the monthly limit on Magnus already I suppose.

  32. Subhadip

    If Magnus would have kept at least the renewal benefit it still would have been a good value. With the removal of this feature as well …. RIP Magnus !! Will cancel before next renewal !!

    1. Siddharth Post author

      Renewal benefit is there, but you’ve to ask. 😉

  33. Murali Reddy

    I would like to transfer my magnus points mainly for hotel points where i want to use for food without staying. Is this possible ? If yes, which one supports (ITC / Accor / Marriot ??) to redeem for food without stay . Appreciate responses

  34. Shank

    Hi, My axis magnus first month billing cycle is 19th Aug 2022 to 18th Sep 2022 (statement received on email on Sep 21st 2022), and I can see on my statement the Joining fee 10k was shown on 18th Aug 2022.

    Do you think I will still get option to choose Tata Cliq voucher since technically my card will complete 1 year on August 19th (thus prior to Sep 1st when new rules kick in)?

  35. Nilesh

    A quick clarification. Earning 35k edge points for 1.5L a month spend is on total spend or only additional spend over 1.5L. If it is on total spend it is still 7%+ benefit even at 5:2 rewards ratio. Clarity on that will be good in deciding .

    On a separate note, I loved your article and also your advice on not getting obsessed about credit cards which i was getting into. Will need to reflect more 😊

  36. Sharan

    Hi Sid,

    Thanks for the informative article. There is one point which I need more clarity on.

    You have mentioned that we will need a “Burgundy PRIVATE” (which requires a 5cr NRV) account beyond September to maintain the 5:4 transfer ratio. However, the email from the bank suggest we need a “Burgundy” account which only requires a 10 lac NRV.

    Could you please provide more clarity on this. Do we really need a Burgundy PRIVATE account?

  37. Tanuj Gidwani

    Hi Siddharth,

    What if I cancel my card now and apply again after 2/3 months. Will this be considered as a new account and be applicable for the joining gift voucher.

    I had done that with SBI Elite and it worked.

  38. Nash

    Hi Sid, Would you be able confirm that 35 rewards points for 200 spend after the 1.5L spent in a month is on the total amount or only the increment amount. If it is on total amount, then even with 5:2 reward ratio this will be still be around 7% reward. Albeit a cap of much higher spend. Would be good to get a confirmation of my understanding is correct.

    Secondly, your article on moving our focus on other things in life and not get obsessed with credit card points is spot on. Has been a journey for me and trying to bring it under check. Thanks for the timely reminder

    1. Siddharth Post author

      – Only for the incremental amount.

      Most welcome!

  39. Tanuj Gidwani

    Hi Sid,

    My renewal date for Magnus is last week of September.
    In case I cancel card before that, can I reapply later (2/3 months down the line) and be eligible for joining benefit of 12.5K?

    I had done that with SBI Elite last time and it worked.


  40. Rohith

    Hi sid,

    I have been following your blog for very long time. Thanks for your effort and time.

    I would like you to suggest me a better option to transfer my 2.5L edge points before 31st Aug to take leverage of 5:4 transfer ratio.

    I’m not traveling anytime soon in 12 months. I have Amex plat for Marriot transfer, axis Vistara 1L points & 5 Bus class tickets unused.

    Please suggest me an airline partner that can hold my points without expiring for atleast 24months and also maximize the per point value at the same time.

    Thanks you.

    1. Tanuj

      Of all the airline partners, I liked United. Their miles don’t expire and will hold good as long as your account is active and not blocked.

      If you create an account and see options – you can find flights from India to Europe at 33.5K and US at 49.5K. Japan is at 27.5 and and even APAC is quite reasonable. While going from India, the additional tax could be anywhere between 20-80USD.

      Most of these flights are through partner airlines like Vistara, Lufthansa, Ethiopian, Singapore, Air Canada.

      Another viable option is Qatar airways and if flexible with dates, you can find flights at good points. Flights to US are at 40K points the only downsize being approx 10-15K iNR extra needs to be paid.

  41. vaibhav

    will Axis count our existing PPF balance from another bank to Axis for burgandy relationship value calculation

    1. Ali

      If you transfer your ppf account through them then
      Yes they will count it

      Though axis are being pretty cunning on the verge of lying while giving reasons why one is not eligible for the axis burgandy

      Be careful
      Take things in writing from the RM

      I hold a burgandy account savings and an old magnus

      Though point number 3 clearly states tha a trv of 30 makes me eligible for the magnus burgandy

      They are finding someway in saying that that trv is not applicable for new unvosrded accounts
      Fir example I thought of opening a current account this week with enough balance to get the trv 30L criteria

      And axis is being difficult about it
      Now saying trv will not include current account and I need to invest other instruments like ppf , mutual fund fd etc
      What bullshit

      If I want to include the current ax balance then I have to satisfy aqb criteria if 10L
      But to satisfy aqb I have to wait for 3 quarters
      Obviously the ltf magnus burgandy offer will expire by then

      How cunning

      So basically for a new holder trying to up his relation with axis by opening a current account with a 30L balamce
      He still doentt get the magnus

      That’s not only nuts
      It’s also not what their eligibility terms state

      And there’s no way to complain to higher ups about this particular interpration of this particular card agent that my RM is dealing with

  42. Tanuj

    Hi Sid,

    I called the bank and was discussing about cancelling the card since there are no renewal benefits.
    They themselves offered me 10K reward points (1 day transfer) which at the present rate is good 8K miles.

    Something to compensate if I decide to renew.


    1. Siddharth Post author

      I indeed consider it as a good untold renewal benefit. 🙂

  43. shashi

    hi Sid

    can you recommend some lesser known rent websites that report incorrect mcc?

    thank you,

  44. Pranav kumar

    Hi Siddharth..
    Today I took meet and greet at Bangalore airport. 1 porter and 1 person in suit and tie turned up. Ek dum vip feeling aa jati hai.. Zabardast!!!

  45. Gaurav Singh

    Hi Sidharth, thanks for sharing as always. Now, there might be a correction due in the Accor (ALL) conversion to Qatar (Avios) is not at 1:1 but 2:1. I checked on Accor’s own website. The issue is not transfer Axis Edge points since they both transfer in the same ratio to Accor or Qatar/Qantas but its with the HDFC Infinia points since you get the poor 2:1 transfer to British Avios, shared with Qatar as well. Thoughts?

  46. Sandeep

    I am fighting with Axis regarding this insurance payment rewards. They are saying insurance payment will not earn any rewards for Magnus Card as well. They telling this rule has been modified in March 2023. I told them that MCC code 6015 is not mentioned in the new offer document of Axis Bank then how can they deny rewards point on that , but they are adamant and not willing to accept.

    what is your opinion on it.

    Apart from this i am also fighting with TravelEdge. I booked hotel with room,breakfast and dinner. My voucher clearly shows halfboard. But when I checked into the hotel they informed that my booking comes with room only. Traveledge is not responding by email and phone both.

    I find the they have zero customer service . It is risky to book hotels and experiences through them .

  47. Rags

    I have earned 950k points with Axis Reserve and Magnus. As I have a burgundy relationship, didn’t hurry to transfer the points. I see the site still shows 5:2 for burgundy customers. I have called the CC, and they said the site has some teething issues that will be resolved in two days. During the interaction – The CC executive told me that one gets 5x of 35edge rewards (175 points for every 200/- spent) on travel edge after crossing 1.5lac monthly spend. Seems too good to be true.

    1. Siddharth Post author

      On the last point, I doubt. 5x/10x are ideally applied on base rate, so better to ignore them and may continue to hope luck comes your way. 🙂

    2. Abhi

      It’s clarified now in their portal, traveledge will be 5X of 12/200 (so 60/200) for spends upto 2L pm. Beyond 2L it will earn 35/200. Traveledge and other accelerated categories are completely excluded from the first 1.5L pm spend consideration. For eg, you first spend 1.8L on traveledge and later another 1.4L on grocery, shopping, dining, etc, then 1.8L will fetch 60/200 and the other 1.4L will fetch only 12/200 even though your total spend has exceeded 1.5L in that month. To get 35/200 on monthly spends, you need to cross 1.5L spend excluding traveledge+gyftr+grabdeals.

  48. Rags

    Hi Siddharth, time to update the title to Death of Magnus and fall of reserve?
    I see the accelerated edge rewards not there on gyfyr, grab deals, insurance etc.
    It’s truly a killer for Magnus when one get better rewards on amex plat travel, vistara infinite, HDFC infinia, etc. I am disappointed even after having magnus+burgundy combo

    1. Siddharth Post author

      With rent getting added, I would rather call it as “Resurrection of Magnus” 🙂

      1. Abhi

        Rent comes with some complications though…
        1. It still attracts 1.18% fee, other than platform’s fee.
        2. Points are capped at 50K spends pm, and will also be considered for accelerated spends which is above 1.5L spend for the month, which means it can earn 35pts/200Rs for max 50K.
        3. It won’t be counted towards annual fee waiver spend requirement of 25L.

    2. Abhi

      Gyftr is very much showing 2X to 5X for different brands. Infact one new feature is accelerated points will be posted little quicker than earlier. It used to be 90-120 days, it would now be T+45 days or within 1.5 months after the end of transaction month.

  49. Rags

    I am yet to see 5:4 a redemption ratio in spite of having a burgundy account. not sure if it is with me only? or with everyone?

    1. MT

      You will only see that after they change your magnus to burgundy magnus (or whatever they will call that version)

    2. Attom

      Same is the issue here. The CC reps tell me that they are setting up the system and they do not have any promised SLA yet.

      1. Siddharth Post author

        Magnus for Burgundy is likely to be ready this week and once the new variant reflects on a/c it should show 5:4

  50. madhusudan jaju

    I have magnus card, and want to setup burgundy for magnus. How can one go about that, what’s the process.

    1. Siddharth Post author

      Get the true burgundy ac ready and the upgrade process would be ideally shared by this month end.

          1. Rags

            Hi Sid, TRV is not required if monthly salary is >3 lacs. Confirmed by AXIS. the T&C are

            Burgundy relationship eligibility criteria, calculated at a Customer ID level:

            • Maintenance of an Average Quarterly Balance of INR 10,00,000 in the Savings Account, OR

            • Maintenance of an Average Quarterly Balance of INR 10,00,000 across Savings Accounts and Current Accounts, OR

            • Maintenance of a minimum Total Relationship Value^(TRV) of INR 30,00,000, OR

            • Maintenance of a minimum Total Relationship Value^(TRV) of INR 1,00,00,000, which includes Demat holdings, OR

            • In case of a salaried customer, one should be receiving a net salary credit in excess of INR 3,00,000 every month in Axis Bank Salary Account, OR

            • Foreign Inward Remittance of at least INR 40,00,000 received through Wire transfer or Remit Money in last 12 months (only for NRI’s)

            • Each member of the family id should be individually eligible basis cust ID to avail Magnus credit card

  51. Lxme

    @Rags :
    Lets say some one is getting 2.3 Lakh INR per month and after few years her salary increased and gets 3.1 Lakh INR per month after all deductions. Will the account automatically get bumped to Burgundy ?

  52. Basant Choudhary

    I migrated to Magnus for Burgundy day before yesterday and got the new card delivered today. It says zero joining and zero annual fees if migrated before 30th Nov.
    Why is Axis Bank issuing only Master Card? My current Magnus was Visa Infinite but they didn’t ask for permission before moving to Mastercard.
    All my debit and credit cards are Master Card now. Is MC offering better deal to bank over Visa? As a customer, do we not have any choice these day? I remember back in the days bank always made us choose the network.

    1. Siddharth Post author

      Probably for a change in series and also to balance the overall numbers across Visa/MC. If you’re aware, Magnus was initially available only on MC.

  53. ajay

    Sid, is axis vistara infinite still a great option? like does it reward on say education payments, insurance, etc? not rents. I usually used to use net banking for these as you pay some 1.5% platform fee while using credit card. Magnus was the best for the last round of pmts in spite of charges. I have infinia as well but don’t feel the 3.3% specially rewarding. pls update.

  54. Rags

    Did any one receives the upgraded card? How many days does it take to receive the card, post up gradation through the call centre?

  55. ARUN

    Oddly enough I got a 47% CL increase in my AXIS MAGNUS card. @Sid, I have a co branded card with Axis . If I cancel magnus , then the CL will be retained for it or cancelled?

  56. Ash

    Great, now no more Edge Rewards for Insurance and Gold spends anymore. Got the mail today

    1. Suresh Kumar Nadgoud

      Further, spends on fuel, insurance and jewellery are not considered as part of the spend for calculating fee waiver threshold spend. Book my show offer has been discontinued. Magnus is getting devalued frequently, making me wonder whether it’s worth holding the card after all.

      1. AbhiKohli

        With the constant flip flopping in their products, making me wonder if it is worth holding any Axis CC. They refuse to let me close without paying the fee when it was time to renew. I thought, lets atleast use meet and greet service. Now in the middle of the yr they discontinued that. Same thing with Vistara card, soon after my renewal they stopped utility CV points etc. Is that legal ? When I paid fee, it had certain benefits, then after the fee is paid, they stopped those benefits.

  57. PD

    They have removed Book my show, 24*7 concierge,meet and greet,for domestic lounge need to spend 50000k in the last 3 months, additional member lounge access from 8 to 4 etc……time has come to close this card

  58. Naishal Doshi

    hey people, i used axis select 2 cards only for movie benefits! now that is gone please help me with cards which still have movie benefits???
    i have fi fed bank as other option but no other cards so looking into it!


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