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)

[shibili]

Just received confirmation from bank officials that they will provide Magnus LTF for Burgundy customers from Sep 1st onwards

 

[iAmPm]

I thought X5000 - Atlas fees is 5k. They might waive off fees for some type of axis account.

 

[CVR]

Does it mean TRV criteria is mandatory for the new Magnus Burgundy and Salary Account or 10L SB won't work?

Salary above 3 lakh+ monthly is valid for Burgundy has been mentioned many times earlier in other pdfs. Only point of confusion was on Family Burgundy which is also not clarified.

 

[CVR]

I speculate that they might get 5:4 but not free Magnus.

That will be too many variations.. 5:2 vs 5:4 and then free vs paid even within 5:4.. they can’t handle so much.. i think they have just written TRV for simplicity to convey that you have to meet one of the required criteria (TRV or savings or salary)

 

[K.R]

Yes, so as per the document they clearly mention TRV.
That means AQB or Salary account might not be eligible for Magnus Burgundy, hence no 5:4 and paid card.

Dear Mr. XXXXX,

Thank you for writing to Axis Bank.

This is with reference to your e-mail dated 25/09/2023, we understand that you wish to avail of the special offering on a points conversion ratio of 5:4 towards your credit cards. We will certainly check and assist you.

We would like to inform you that, we are in the process of announcing the special offer for Burgundy customers. We shall be writing to you shortly with the process to avail of the benefit. Till then we request your cooperation on the same.

To be eligible for the new version, the customer has to have burgundy eligible status as defined below:

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

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

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

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

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

5) 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

6) 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)

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



Hence, we request you to wait till the announcement.

Your cooperation is much appreciated in this interim.

We thank you for banking with us & look forward to your continued patronage.

We assure you the best of our services at all times.

The reference number for this interaction is 230925266643.

For an instant response, you may also “CHAT” with us from https://www.axisbank.com/support or for any other query you may visit below links.

Personal Phone Banking Link

NRI Phone Banking Link

Business Phone Banking Link

Agri Rural Phone Banking Link

Burgundy Phone Banking Link

Forex Card Phone Banking Link



Warm Regards,
XXXXXX- (Premium Customer Support)
Team Axis Bank
Dil Se Open

 

[K.R]

Dear Mr. XXXXX,

Thank you for writing to Axis Bank.

This is with reference to your e-mail dated 25/09/2023, we understand that you wish to avail of the special offering on a points conversion ratio of 5:4 towards your credit cards. We will certainly check and assist you.

We would like to inform you that, we are in the process of announcing the special offer for Burgundy customers. We shall be writing to you shortly with the process to avail of the benefit. Till then we request your cooperation on the same.

To be eligible for the new version, the customer has to have burgundy eligible status as defined below:

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

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

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

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

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

5) 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

6) 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)

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



Hence, we request you to wait till the announcement.

Your cooperation is much appreciated in this interim.

We thank you for banking with us & look forward to your continued patronage.

We assure you the best of our services at all times.

The reference number for this interaction is 230925266643.

For an instant response, you may also “CHAT” with us from https://www.axisbank.com/support or for any other query you may visit below links.

Personal Phone Banking Link

NRI Phone Banking Link

Business Phone Banking Link

Agri Rural Phone Banking Link

Burgundy Phone Banking Link

Forex Card Phone Banking Link



Warm Regards,
XXXXXX- (Premium Customer Support)
Team Axis Bank
Dil Se Open

Just to add Magnus for Burgundy is free as per their document in the website

 

[MayankBamboria]

What is the point of having Family ID, if eligibility is based on the requirements met at customer ID level. Should not have mentioned family I'd from the beginning itself.

 

[K.R]

What is the point of having Family ID, if eligibility is based on the requirements met at customer ID level. Should not have mentioned family I'd from the beginning itself.

Burgundy is Primarily a Savings account.

 

[insight]

Lol I don't know if they got confused or what, but today I see joining fee and gst reversal in my card, which was charged last year in September.

Today is my renewal date and I was supposed to get charged for another 11800, but instead I have been reversed last year's joining fee 😅.

I had sent a reminder to MD desk last week (after one month) and this time I got a response that they are working on it. I think they got confused that I am asking to waive renewal fee and instead they waived off joining fee. Or maybe RBI Ombudsman Complaint was also there.

Let's see if they still charge renewal fee in 1-2 days or not. But at least I have got it back in another form. So I am done for now😁.

Now I can patiently wait for 1-2 month also for Magnus burgundy announcement 🤣, as I don't have immediate transfer requirements.

Interesting Dramas!

 

[Harry1]

Not sure if it is genuine. Probably his rm or bm sent him.

 

[Harry1]

Official pdf - https://www.axisbank.com/docs/defau...cards/magnus-credit-card-for-burgundy-faq.pdf

Source - https://www.axisbank.com/retail/cards/credit-card/axis-bank-magnus-card/feature-benefits

14 pages😂

 

[sxchzy]

koi gist samjha do
kiska kya nuksan hai kiska kya phayda hai

 

[Harry1]

Official pdf - https://www.axisbank.com/docs/defau...cards/magnus-credit-card-for-burgundy-faq.pdf

Source - https://www.axisbank.com/retail/cards/credit-card/axis-bank-magnus-card/feature-benefits

14 pages😂

TLDR for people with burgundy and magnus:

Call 1800 419 0065 for upgrade. No 5000 voucher😔. Free (if applied before 30 November) until burgundy criterion in maintained (at individual level) in OGS. 5:4 is permanent. All existing points transfer after upgrade (one time transfer).

Everything as expected except missing welcome voucher 😔.

 

[arun4455]

Not sure if it is genuine. Probably his rm or bm sent him.

arey wo aa gaya.. wo aa gaya...

 

[CVR]

TLDR for people with burgundy and magnus:

Call 1800 419 0065 for upgrade. No 5000 voucher😔. Free (if applied before 30 November) until burgundy criterion in maintained (at individual level) in OGS. 5:4 is permanent. All existing points transfer after upgrade (one time transfer).

Everything as expected except missing welcome voucher 😔.

Called on the no. As of now they have no clue and no communication regarding this. I think we need to wait till we get official email/sms from bank on this.

 

[Viper1057]

Called on the no. As of now they have no clue and no communication regarding this. I think we need to wait till we get official email/sms from bank on this.

Its Axis, what more you can expect lmao

 

[CMG]

TLDR for people with burgundy and magnus:

Call 1800 419 0065 for upgrade. No 5000 voucher😔. Free (if applied before 30 November) until burgundy criterion in maintained (at individual level) in OGS. 5:4 is permanent. All existing points transfer after upgrade (one time transfer).

Everything as expected except missing welcome voucher 😔.

10L relationship gets new burgundy, right? They could have shown this in page 3 table. They chose not to.

 

[CVR]

Its Axis, what more you can expect lmao

Yes very typical of them. Although pdf is quite comprehensive and answers all doubts one might have. Having Magnus free (for burgundy) is actually quite good deal for a card of such features and rewards.

 

[CVR]

10L relationship gets new burgundy, right? They could have shown this in page 3 table. They chose not to.

10 lakh savings/current is clearly mentioned in page 2 of pdf.. table on page 3 is showing trv example and not savings/current account example

 

[Viper1057]

Yes very typical of them. Although pdf is quite comprehensive and answers all doubts one might have. Having Magnus free (for burgundy) is actually quite good deal for the card of such features and rewards.

They didn't clarified one doubt clearly which was what about bonus edge reward points which are yet to be credited, I explained it here

Axis Magnus - Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

-- 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...

www.technofino.in

 

[Harry1]

Called on the no. As of now they have no clue and no communication regarding this. I think we need to wait till we get official email/sms from bank on this.

Same.