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Axis Magnus Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)
- Thread starter shibili
- Start date
BucksBunny
TF Buzz
Yes, He said he will send me official information soon.
drabhishekladdha
TF Select
Only Burgundy with salary makes sense if you have it
Second one is for people who want to park money in FD for whatever reason ( 30L )
3rd best option if someone who has 1cr in demet balance
It would be foolish to park 10L in savings account and getting a magnus .It would he like I will pay you 30k for so called life time magnus
drabhishekladdha
TF Select
I have Infina , Magnus and select ..have applied for Amex travel platinum card .
gg123
TF Premier
Just contacted a BM who I have known for 3 years and recently got transferred to another branch.
He confirmed the card is not chargeable for "True Burgundy" they are currently discussing criteria of True Burgundy as of yesterday 18-09-2023
They are considering 30TRV Or 1CR including Demat holdings as True Burgundy and people who park 10L in savings does not qualify for true burgundy
Rest assured the 5:4 conversion will be available for all the Burgundy customers even the ones with 10L in savings.
Also followed up on Atlas for Priority. He said "There was a proposition but there aren't many discussions on this recently and bank has a lot of pressure on Burgundy Magnus. some things should be settled by End of this week"
He confirmed the card is not chargeable for "True Burgundy" they are currently discussing criteria of True Burgundy as of yesterday 18-09-2023
They are considering 30TRV Or 1CR including Demat holdings as True Burgundy and people who park 10L in savings does not qualify for true burgundy
Rest assured the 5:4 conversion will be available for all the Burgundy customers even the ones with 10L in savings.
Also followed up on Atlas for Priority. He said "There was a proposition but there aren't many discussions on this recently and bank has a lot of pressure on Burgundy Magnus. some things should be settled by End of this week"
CARDBITRAGE
TF Ace
Axis is truly Foolish! 10L Burgandy is more profitable for the bank. IMO the people who park 10L in savings should be categorised "True Burgandy", whatever that means.
gg123
TF Premier
They are what they are
But based on the info I got there is huge spike in Burgundy customers for the last one month. which made axis think about terms like "Burgundy" and "True Burgundy"
And from what I know there is also a significant increase in number of prospects who want to open burgundy account if the Magnus is free
They will only open to transfer the pending points. Who will trust AXIS after this mess
CARDBITRAGE
TF Ace
But why exclude the people who leave 10L in SA from getting an LTF Magnus? Either way when they withdraw the amount, they will get charged for the card by default. Just like with Burgandy Private CC.
gg123
TF Premier
And Totally off topic. Today I was paying off my Credit card bill with burgundy Debit card through payzapp and one my co worker saw that and said
"Hey man are you also a burgundy customer?"
I was like "Yeah"
and he said "How come your card looks different than mine?" and he casually pulled out BURGUNDY PRIVATE credit card from his wallet
That's the only credit card he has and he's been with axis since the days it used to be UTI Bank.
and guess what he does with the points he accumulate. He converts them to amazon vouchers and shop in amazon.
I just have to share this with someone. I am still processing that those points are getting converted to amazon vouchers
"Hey man are you also a burgundy customer?"
I was like "Yeah"
and he said "How come your card looks different than mine?" and he casually pulled out BURGUNDY PRIVATE credit card from his wallet
That's the only credit card he has and he's been with axis since the days it used to be UTI Bank.
and guess what he does with the points he accumulate. He converts them to amazon vouchers and shop in amazon.
I just have to share this with someone. I am still processing that those points are getting converted to amazon vouchers
gg123
TF Premier
This is not confirmed yet. I think they are worried about backlash (They should be ). because if they exclude 10L in SA for Burgundy Magnus. there might be a significant account downgrades
Peace of mind is more important for people earning that much.
gg123
TF Premier
You are correct. while that is true. I think this guy is losing money because there is lack of knowledge on benefits
From what I know this guy travels a lot and stays in 5 start properties. he also mentioned he goes on an international trips with his family every 1.5 years or so ..
and I can't ask how much this guys spends. so I just asked what did you buy with points last time and he said he spent about 2L + points to buy an Air conditioner in April. and those points were accumulated over 5-6 month period.
I was thinking in my mind. I would've had one luxury week in some Accor property with those points.
But it is what is
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