Axis burgundy account for card

[Kpawar04]

Hey guys I want axis bank credit card with high limit.
So if I open axis burgundy account with 30L fd then what's the procedure for card and what's the expected credit limit?
And which card they can offer me?

As I read a thread recently about that.

 

[sumit_yadav]

For Burgundy customers, you will get Axis Select as LTF. You will have to apply for the same.

There can be negotiations for a better card.

 

[Kpawar04]

For Burgundy customers, you will get Axis Select as LTF. You will have to apply for the same.

There can be negotiations for a better card.

R

Thread 'Here’s how credit card gamers are getting Axis Magnus Burgundy credit card playing around the qualification criteria'

Nov 29, 2024

A concerning scheme involving Axis Bank employees and credit card gamers has surfaced:

1) Multiple FDs (Fixed Deposits) are being created using lien money taken against the FDs itself, forming a pyramid of FDs as explained below:
First, short duration FD of ₹819500 is being opened on 23rd-24th of the month. A loan against the FD is being taken to get around 85% of the FD amount back and the same amount is again invested in an FD. This is repeated for 4 cycles and ultimately the customer ends up with FDs worth more than 30lacs by the end of the month(check the screenshot for getting...

• RoshanAgarwal
• axis axis magnus burgundy credit card magnus magnus burgundy
• Replies: 23
• Forum: Axis Bank Credit Card

• 
• 
• 

Check this!

 

[sumit_yadav]

R

Thread 'Here’s how credit card gamers are getting Axis Magnus Burgundy credit card playing around the qualification criteria'

Nov 29, 2024

A concerning scheme involving Axis Bank employees and credit card gamers has surfaced:

1) Multiple FDs (Fixed Deposits) are being created using lien money taken against the FDs itself, forming a pyramid of FDs as explained below:
First, short duration FD of ₹819500 is being opened on 23rd-24th of the month. A loan against the FD is being taken to get around 85% of the FD amount back and the same amount is again invested in an FD. This is repeated for 4 cycles and ultimately the customer ends up with FDs worth more than 30lacs by the end of the month(check the screenshot for getting...

• RoshanAgarwal
• axis axis magnus burgundy credit card magnus magnus burgundy
• Replies: 23
• Forum: Axis Bank Credit Card

• 
• 
• 

Check this!

I am providing the information what is applicable per the program (Burgundy). Visit: https://www.axisbank.com/burgundy-personal-banking

If you are looking for exploiting that trick, best of luck!

 

[Kpawar04]

A

I am providing the information what is applicable per the program (Burgundy). Visit: https://www.axisbank.com/burgundy-personal-banking

If you are looking for exploiting that trick, best of luck!

View attachment 76692

Any idea about how much limit (min-max) they'll provide in select card with burgundy account?

 

[sumit_yadav]

I don't consider Select any good card to have. Before opening the account you should negotiate with the branch if they will be able to provide you with a certain card with the burgundy account. Credit limit is based on the profile and I don't think Select will give you any better limit. Credit department is different from the normal banking operations.
I applied for Magnus last year before the devaluation using Card to card method. Used my AmazonPay card which had the limit of 4.9L and Axis matched the same.

 

[Anupama_Jha]

I don't consider Select any good card to have. Before opening the account you should negotiate with the branch if they will be able to provide you with a certain card with the burgundy account. Credit limit is based on the profile and I don't think Select will give you any better limit. Credit department is different from the normal banking operations.
I applied for Magnus last year before the devaluation using Card to card method. Used my AmazonPay card which had the limit of 4.9L and Axis matched the same.

What's the min c2c limit, they accept for magnus.

 

[Anupama_Jha]

Hey guys I want axis bank credit card with high limit.
So if I open axis burgundy account with 30L fd then what's the procedure for card and what's the expected credit limit?
And which card they can offer me?

As I read a thread recently about that.

You can negotiate for LTF Atlas. Don't go anything below that.

You can approach like this.

Sir, by putting 30L in FD I loses atleast 3-4% = ₹90k-1.2L (If I do any SIP, or invest in market)

So, in order to compensate I am just asking for LTF Reserve.
BM- NO
Okay, LTF Magnus Burgundy
BM - Strictly NO
Fine, I will not accept anything below LTF Atlas. Many corporates have it. It's more commonly issued LTF than others.

 

[sumit_yadav]

What's the min c2c limit, they accept for magnus.

4L is what was told to me. So I gave them 4.9L on my AmazonPay CC.

 

[Anupama_Jha]

4L is what was told to me. So I gave them 4.9L on my AmazonPay CC.

Any other income docs asked?

 

[Pissant]

You can negotiate for LTF Atlas. Don't go anything below that.

You can approach like this.

Sir, by putting 30L in FD I loses atleast 3-4% = ₹90k-1.2L (If I do any SIP, or invest in market)

So, in order to compensate I am just asking for LTF Reserve.
BM- NO
Okay, LTF Magnus Burgundy
BM - Strictly NO
Fine, I will not accept anything below LTF Atlas. Many corporates have it. It's more commonly issued LTF than others.

LTF Atlas is worse than paid Atlas

 

[sumit_yadav]

You can negotiate for LTF Atlas.

I have Axis Cashback (migrated from Citi cashback LTF) and plan to talk to the RM for Atlas LTF. Let's see how it goes. I have an FD coming to maturity 😉

 

[sumit_yadav]

Any other income docs asked?

Normal KYC documents. Aadhaar, PAN etc.

 

[sumit_yadav]

LTF Atlas is worse than paid Atlas

Are you suggesting just get the Atlas if you can? Even when they have halved the joining Edge miles to 2500?

 

[Anupama_Jha]

LTF Atlas is worse than paid Atlas

Okay, can you explain why?

If u spend less than 7.5L in a yr, u won't get any renewal benefits (5900 waste)

One-time loss of 2500 miles (joining bonus) can be sacrificed for 5900 easily.

 

[Pissant]

Are you suggesting just get the Atlas if you can? Even when they have halved the joining Edge miles to 2500?

Okay, can you explain why?

If u spend less than 7.5L in a yr, u won't get any renewal benefits (5900 waste)

One-time loss of 2500 miles (joining bonus) can be sacrificed for 5900 easily.

2500 miles will easily be worth more than 5900 inr any day and in some cases almost 2x more (Accor).

And a person should only really be getting the Atlas if they can comfortably spend 7.5lk a year anyway. Otherwise a cash back card would be better suited for them.

 

[Riva]

I have Axis Cashback (migrated from Citi cashback LTF) and plan to talk to the RM for Atlas LTF. Let's see how it goes. I have an FD coming to maturity 😉

Are you planning to convert the LTF cashback to LTF Atlas? I checked with customer care for conversation for my migrated Citi cards and they said it cannot be done for now.
Let us know what your BM says.

 

[Anupama_Jha]

2500 miles will easily be worth more than 5900 inr any day and in some cases almost 2x more (Accor).

And a person should only really be getting the Atlas if they can comfortably spend 7.5lk a year anyway. Otherwise a cash back card would be better suited for them.

Accor accor.
Do people only take atlas to stay in accor?
How many accor properties have u stayed?
Have u ever compared accor prices with MMT or other booking platforms?

FYI. Check attached pic. Excluding 5k joining and renewal fee, u still get much much better value than any cashback card.
@anirban.choudhury @drsel

 

[Anupama_Jha]

Accor accor.
Do people only take atlas to stay in accor?
How many accor properties have u stayed?
Have u ever compared accor prices with MMT or other booking platforms?

FYI. Check attached pic. Excluding 5k joining and renewal fee, u still get much much better value than any cashback card.
@anirban.choudhury @drsel
View attachment 76715

Again FYI: He's referring to this flight

 

[Pissant]

Accor accor.
Do people only take atlas to stay in accor?
How many accor properties have u stayed?
Have u ever compared accor prices with MMT or other booking platforms?

FYI. Check attached pic. Excluding 5k joining and renewal fee, u still get much much better value than any cashback card.
@anirban.choudhury @drsel
View attachment 76715

Since I took the card I stayed at Novotel Juhu, Novotel Kochi, Sofitel Singapore and Grand zmercurr Khao Lak. All my points have been redeemed only for Accor and I firmly believe that is the best redemption. But you make a good point too.