Axis Magnus Magnus closure, retention offer and alternatives

[maynigam]

Hello guys.

I started my Magnus journey in Feb 2023 and used it to the fullest but it is time to bid farewell as I have only crossed 9.5 lakhs in the past year and I am nowhere near renewal fees waiver criteria. Since I don't hold burgundy status, the card will not hold much value for me next year.
I have the following questions before I close my magnus.

1. What is the easiest way to close and what is the ideal time to close it? Should I wait for the renewal fees to be posted in my statement or call customer care before completing a year?
2. Do they offer any retention offers when you call them? Is it worth?
3. I am looking at ICICI Emerald Private metal card as my alternative to this card. Can someone guide me how to obtain this card?

Thanks.

P.S. I recently completed my Singapore trip where my hotel and dining worth more than 2.5 lakhs in a 5 star property was covered by edge rewards. So I'm satisfied with my experience!

 

[QUIKSILVER27]

anyone tried closing magnus card recently in last week or so.....how much retention offer is axis giving?

They were offering 10000ER points when i called few days back

 

[Deleted member 19066]

Hello guys.

I started my Magnus journey in Feb 2023 and used it to the fullest but it is time to bid farewell as I have only crossed 9.5 lakhs in the past year and I am nowhere near renewal fees waiver criteria. Since I don't hold burgundy status, the card will not hold much value for me next year.
I have the following questions before I close my magnus.

1. What is the easiest way to close and what is the ideal time to close it? Should I wait for the renewal fees to be posted in my statement or call customer care before completing a year?
2. Do they offer any retention offers when you call them? Is it worth?
3. I am looking at ICICI Emerald Private metal card as my alternative to this card. Can someone guide me how to obtain this card?

Thanks.

P.S. I recently completed my Singapore trip where my hotel and dining worth more than 2.5 lakhs in a 5 star property was covered by edge rewards. So I'm satisfied with my experience!

For Emerald Private metal u must have private account with them... And some connections..


Else not possible even u have decent amount of Fd's ...

@Tejo @jack333

 

[maynigam]

For Emerald Private metal u must have private account with them... And some connections..


Else not possible even u have decent amount of Fd's ...

@Tejo @jack333

Thanks for info

 

[maynigam]

They were offering 10000ER points when i called few days back

Not worth it

 

[ccdc]

Not worth it

cant we just take the ER...redeem and close after few days

 

[gg123]

For Emerald Private metal u must have private account with them... And some connections..


Else not possible even u have decent amount of Fd's ...

@Tejo @jack333

I think people got upgrade offers with the decent limit on existing cards.

 

[hari99]

Every day there is a new thread on Magnus.

I was never interested in any of those super 'prem' cards as its a big mental load on me in earning and burning before expiry of points.
Still for a fellow Finto* I will try to help you by getting to the root of the issue by whatever the information I have gathered on these forums.

Let's analyze from the start.

Chapter 1 : The Genesis of Magnus
The saga of Magnus starts like a fairy tale. Oh No !!! fairy tales have happy endings.
Let us just say it starts like a Shakespeare's love drama.

Like a typical love story that we have been listening for generations be in the west or in our India, the tale starts with a street urchin (awara or poor kid) as a hero wooing a princess in secrecy from her father.

Affair with princess Magnus is a financially draining one. The hero has to shell ~1.5L INR (monthly milestone) a month to meet her needs. Occasionally she needs pampering in 5 star hotels like Taj/Marriot (edge rewards redemption).

In the first year, the hero some how managed meeting her expectations(FYF criteria) by pawning his possessions or money rotation. In the second year, when the hero is making plans for money, as the fate had it gets caught by the princess' father(Axis mails to justify txns). Lo ... the angry father who thinks the hero is not a suitable match to the princess separates them (devaluation).


Chapter 2 : Peaks of Obsession
The obsession for Magnus was so high that eligible bachelors wanted to marry Axis RMs demanding Magnus for dowry. Some even planned their destination weddings, honeymoon etc on Magnus for reward points.

As the Magnus obsession was going beyond anyone's control it had to be stopped for the sake country's sovereign security. The card was deemed a threat as someone in sensible positions might get honey trapped into it.


Chapter 3 : Getting out
Now coming to your question ...
Even though the story was same the fate of hero was different based on their mentality. These heroes could be grouped to 3 categories.
One - who moved on finding love in some other prem cards like Infinia. Heard that they still miss Bargundy and occasionally keep looking at it in deep thoughts. Seems this category is majority.
Two - who vowed celibacy (Brahmacharya Oath) of credit cards and not to use any cc in their life at all. This category is extreme minority.

Three - who still keep fighting and finding ways to get one.


Now the answer ...
You should move on like category one people. Support groups help in overcoming grief. May be BBPS (Burgundy Bhagna Premika Sangham - Burgundy Failed Lovers Society) or BaBu (Badhitha's of Burgundy - Victim's of Burgundy) societies are needed for this. Even if anyone is getting Magnus for Bargundy or whatever, be reminded the chameleon changes its color every quarter.



Appendix : Parting Poem
Saturday tharuvatha Sunday
Vesavilo yendalu manday
jeevitanni nasanam chesedi Burgunday

Poor translation/adaption of above :
After Saturday it's Sunday,
the next day is Monday,
financially destructing CC is Burganday.



Disclaimer : Truth is slightly exaggerated and may coincide with some. No offence meant to anyone.

Finto : TechnoFINO member.

Ultimate bro awesome explanation 👏👏👏

 

[techt]

Ultimate bro awesome explanation 👏👏👏

Glad you liked it.

 

[Dai]

Don't wait for annual fees to be charged coz any txn after that and you have to pay full annual fees.
Without milestone/burgundy atlas/infinia/dcb are better than magnus.

Nothing like that.. for me fees was levied and post which I escalated and got the 100% waiver...

 

[Dai]

Lolz. I like the explanation, But I cannot manage Burgundy. I will look into Atlas. Already have Amex Trifecta but returns are not that lucrative.
ICICI Emeralde Private seems like a good card

You can check yes reserve card with subscription that card beats other super premium cards as well

 

[sgoyal9]

I have Burgundy and had more than 13L spends on Magnus in 4-5 months.

Called to close it and they did not even once try to retain me. They might have offered the 10K points but I never asked and it was pretty worthless considering the 5:2 ratio I was getting.

For a Burgundy Magnus or 5:4 ratio, you need 30L NRV, 1Cr demat, or salary credit of 3L per month. You will NOT get Burgundy Magnus for measly 10L in Savings account.

 

[stech18]

Once a card is closed with axis, do they create problems in issuing another axis card in near future?

Nope, you will start seeing pre-approved cards 1-2 days after closing the card.

 

[maynigam]

Nothing like that.. for me fees was levied and post which I escalated and got the 100% waiver...

How much did u spend previous year?

 

[Ankur dhanda]

They were offering 10000ER points when i called few days back

Not offering any retention now on MB

 

[QUIKSILVER27]

Not offering any retention now on MB

This was offered on plain old Magnus not Magnus for Burgundy

 

[SSV]

Saturday tharuvatha Sunday
Vesavilo yendalu manday
jeevitanni nasanam chesedi Burgunday

Poor translation/adaption of above :
After Saturday it's Sunday,
the next day is Monday,
financially destructing CC is Burganday.

First of all, very well put... by the Kavi @techt 🫡

Kavi bhavana marindeti chepma ??

 

[_ayush]

They were offering 10000ER points when i called few days back

Did you claim 10k ER for retention before devaluation as well?

 

[techt]

First of all, very well put... by the Kavi @techt 🫡

Kavi bhavana marindeti chepma ??

For the sake of rhyming I had to compromise and I have said thats a poor translation.

You sounded like that guy, who after reading that lengthy mail all he asked is why Annamalai is spelt Unnamalai. Oh!!! wait !!! that guy was me.

 

[SSV]

For the sake of rhyming I had to compromise and I have said thats a poor translation.

You sounded like that guy, who after reading that lengthy mail all he asked is why Annamalai is spelt Unnamalai. Oh!!! wait !!! that guy was me.

First of all, very well put... by the Kavi @techt

For that exact reason, I acknowledged the content first ,
unlike in the case of Annamalai!!

Anyway, Kavi Bhavana emaina undemo ani..
Kavi uddeshyam rhyming ikkada.
Let's move on .
Just to add some fun kavi garu..
Once again very well put, not everyone will have that skill..

 

[techt]

For that exact reason, I acknowledged the content first ,
unlike in the case of Annamalai!!

Anyway, Kavi Bhavana emaina undemo ani..
Kavi uddeshyam rhyming ikkada.
Let's move on .
Just to add some fun kavi garu..
Once again very well put, not everyone will have that skill..

I was being sarcastic and I was joking about my situation in Annamalai. I didn't mean any disrespect in any regards.
With all the devaluation, only thing left is making fun of those cards.