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

 

[shashank08]

Has anyone with burgundy account and without holding a previously issued Magnus card been able to apply for Magnus Burgundy based on 10L in savings account?

I called premium support yesterday. It was told that eligible Burgundy account holders with no Magnus will receive communication by Monday.

 

[SM24]

That is possible if you have held at 10 lacs already for 90 days and the one glance statement shows the average quarterly balance is 10 lakhs

those who opened Burgundy after 1st July by depositing only 10 lacs, will not have 10 lakhs average quarterly balance right now.
They have to wait a total of 90 days from the date of opening
alternately they can deposit a huge amount to boost the average quarterly balance quickly before the deadline of 30 November.

But it is much simpler and easier to open a 30 like term deposit and keep on renewing it as long as you want to keep on holding the Magnus for burgundy card

A lady at Burgundy Cc just now told me, after supposedly checking with her supervisor -

1. 30L in FD is better as TRV than 10L in Savings + 20L recently transferred to Savings, to reach 30L TRV.
When questioned. She resorted to fall back.

2. 30L TRV needs to be maintained for atleast 45 days.

She knew about One Glance Statement.
But didn't have an answer when I brought up TRV maintained as shown in One Glance as a sufficient prerequisite.

*Her fall back was -
Speak to RM.

So if this lady is to be believed, then instant eligibility via
30L TRV is a non starter.

 

[drsel]

A lady at Burgundy Cc just now told me, after supposedly checking with her supervisor -

1. 30L in FD is better as TRV than 10L in Savings + 20L recently transferred to Savings, to reach 30L TRV.
When questioned. She resorted to fall back.

2. 30L TRV needs to be maintained for atleast 45 days.

She knew about One Glance Statement.
But didn't have an answer when I brought up TRV maintained as shown in One Glance as a sufficient prerequisite.

*Her fall back was -
Speak to RM.

So if this lady is to be believed, then instant eligibility via
30L TRV is a non starter.

Fixed deposit of 30 lacs will instantly make you eligible for magnus for burgundy.
but you need to maintain that fixed deposit as long as you keep the magnus for burgundy.

When you want to break the fixed deposit , you need to first close the Magnus for burgundy card and then break the fixed deposit.
This is so that they don't charge you 14750 for a new downgraded ordinary Magnus card.

 

[ankitfintech]

I dont understand why everyone is pressing for 30L TRV via FD when the Axis document clearly says that even having 10L in savings is enough to fulfil the TRV condition.

 

[chasni]

I dont understand why everyone is pressing for 30L TRV via FD when the Axis document clearly says that even having 10L in savings is enough to fulfil the TRV condition.

Because everyone is trying to use their brain to interpret things better. Tbh, the document is not very clear. We will have more clarity in a few weeks.

 

[devine_mortal]

While everyone's trying to get Burgandy accounts via FDs and what not, here I am still chasing my Citi RM to know if my Citi Gold relationship wud transfer to Axis as Burgandy. It's worrying that even they don't have the complete picture yet as migration is still happening and it might be next year until they have any clarity.

I think closing Citi and opening a wealth account with Axis would be faster? Because I would really like a LTF Magnus.

 

[drsel]

While everyone's trying to get Burgandy accounts via FDs and what not, here I am still chasing my Citi RM to know if my Citi Gild relationship wud transfer to Axis as Burgandy. It's worrying that even they don't have the complete picture yet as migration is still happening and it might be next year until they have any clarity.

I think closing Citi and opening a wealth account with Axis would be faster? Because I would really like a LTF Magnus.

Definitely close Citi and transfer your funds to Axis into a Burgundy account.

 

[ARV]

Guys, the point to note is offer is valid only till Nov 30 2023.

 

[devine_mortal]

Definitely close Citi and transfer your funds to Axis into a Burgundy account.

I tried to start the process online but it says I have an existing account with Axis. No option to connect with an agent or anything. I think visiting a branch is the only option? Because as @ARV mentioned, this offer is only valid till 30th Nov.

 

[drsel]

I tried to start the process online but it says I have an existing account with Axis. No option to connect with an agent or anything. I think visiting a branch is the only option? Because as @ARV mentioned, this offer is only valid till 30th Nov.

Just take a bankers check for the entire amount and surrender your cheque book etc

 

[vaibhav111]

Guys, the point to note is offer is valid only till Nov 30 2023.

it marketing gimmick. once 30th nov 2023. is passed axis will extend again.. do remember it axis bank not American express. lol

 

[drsel]

it marketing gimmick. once 30th nov 2023. is passed axis will extend again.. do remember it axis bank not American express. lol

But we should not take any chances

 

[ARV]

it marketing gimmick. once 30th nov 2023. is passed axis will extend again.. do remember it axis bank not American express. lol

May be but why take chances

 

[starstruck]

it marketing gimmick. once 30th nov 2023. is passed axis will extend again.. do remember it axis bank not American express. lol

Yeah. Or else after 30th Nov, it signals to people who can open Burgundy that no new such customer will ever be given same benefits as old ones. Better go to other banks as anyways the services will be similar.

 

[CVR]

Got confirmation from A-xis on email that TRV not required for salary customers. Attaching the screenshot.

 

[seachle]

Applied for Magnus Burgundy freshly. I'm an existing Burgundy Salary account holder without any active Axis credit card.
WhatsApped the BM and in an hour I got a call from credit card team, who then immediately sent a person to complete the process. The application was showing Magnus Burgundy as a separate variant, and it clearly showed LTF. Got the below message as a confirmation. Will keep the thread updated.

Thank you for applying for Axis bank Magnus Burgundy Credit Card. Charges applicable- Joining Fee: INR 0, Annual Fee: 0 & Interest: 3% per month. Your registered email ID is SomeEmail@GMAIL.COM. Enter OTP SomeOTP on the tablet within 30 mins to confirm your consent on the application, T&Cs (http://www.axisbank.com/Mitnc) & Key Fact Sheet (http://www.axisbank.com/ccsoc). Do not share with anyone.

 

[H2O]

Axis in the background going through all mails/calls/tweets/forum threads.

 

[devine_mortal]

Applied for Magnus Burgundy freshly. I'm an existing Burgundy Salary account holder without any active Axis credit card.
WhatsApped the BM and in an hour I got a call from credit card team, who then immediately sent a person to complete the process. The application was showing Magnus Burgundy as a separate variant, and it clearly showed LTF. Got the below message as a confirmation. Will keep the thread updated.

Thank you for applying for Axis bank Magnus Burgundy Credit Card. Charges applicable- Joining Fee: INR 0, Annual Fee: 0 & Interest: 3% per month. Your registered email ID is SomeEmail@GMAIL.COM. Enter OTP SomeOTP on the tablet within 30 mins to confirm your consent on the application, T&Cs (http://www.axisbank.com/Mitnc) & Key Fact Sheet (http://www.axisbank.com/ccsoc). Do not share with anyone.

Did you open this account online itself? Not sure if there's an option.

 

[drsel]

If you can see the last four digits of Magnus Burgundy Mastercard on your mobile app kindly check your Edge points and see if there are separate categories/pools for 5:4, 5:2, 5:1, 10:1, 20:1 and 1:2 (Atlas edge miles);
OR
Is it just one common pool for all edge points.

in which case, all your other cards in your portfolio will also get 5:4 ratio

 

[drabhishekladdha]

Applied for Magnus Burgundy freshly. I'm an existing Burgundy Salary account holder without any active Axis credit card.
WhatsApped the BM and in an hour I got a call from credit card team, who then immediately sent a person to complete the process. The application was showing Magnus Burgundy as a separate variant, and it clearly showed LTF. Got the below message as a confirmation. Will keep the thread updated.

Thank you for applying for Axis bank Magnus Burgundy Credit Card. Charges applicable- Joining Fee: INR 0, Annual Fee: 0 & Interest: 3% per month. Your registered email ID is SomeEmail@GMAIL.COM. Enter OTP SomeOTP on the tablet within 30 mins to confirm your consent on the application, T&Cs (http://www.axisbank.com/Mitnc) & Key Fact Sheet (http://www.axisbank.com/ccsoc). Do not share with anyone.

What is your TRV with Axis bank ?