Axis Burgundy Account/LTF Magnus for Burgundy: Relaxation in on-going eligibility criteria

[Quantum]

Hello Folks,
Has anyone who recently opened (or upgraded to) an Axis Burgundy account, were they able to get/negotiate any relaxation in 10L AQB or 30L TRV?
Especially the 10L AQB?
That seems to be the on-going eligibility criteria for "Magnus for Burgundy" to remain LTF. Is that true?

Thanks!

 

[RakeshChrv]

I too got the MB after maintaining 10L for 3 months .. Cust care has upgraded over a call.

 

[Quantum]

I too got the MB after maintaining 10L for 3 months .. Cust care has upgraded over a call.

Congratulations!
Did you have usual Magnus before and it was converted to MB?
What is the new credit limit that you got?

 

[CardScout]

oh, how to raise request via Axis mobile app?

Finally in December my RM pinged me that apply for M4B now (after December's OGS). Finally application went through and I got my M4B.

 

[CardScout]

I have a question.
I see two types of points now on Travel Edge portal: Edge Reward Points & Magnus Burgundy points.
When I am trying to convert the point to miles, I can't select ER Points. Thus what's the use of ER points then?

 

[statusquo]

How much did you all have to maintain in balance for a month? I’m thinking of opening a Burgundy account with 10L in balance. Do you think it might go through? I know that the Magnus for Burgundy offer ends on January 31, by which time I won’t get OGS probably, but am hoping the date gets extended

 

[HumorSimpson]

Whats ogs ??

 

[pgarg24]

How much did you all have to maintain in balance for a month? I’m thinking of opening a Burgundy account with 10L in balance. Do you think it might go through? I know that the Magnus for Burgundy offer ends on January 31, by which time I won’t get OGS probably, but am hoping the date gets extended

Once we get M4B, and then we remove the excess balance to another bank or something.. will it still remain as ltf and not go back to regular magnus?

 

[coolguy1]

Whats ogs ??

One Glance Statement, it's generated monthly and you can see your AQB(Average Quarterly Balance) balance there.
Once it goes above 10L, you become eligible for Magnus Burgundy card.

 

[pgarg24]

One Glance Statement, it's generated monthly and you can see your AQB(Average Quarterly Balance) balance there.
Once it goes above 10L, you become eligible for Magnus Burgundy card.

Will they downgrade and charge magnus if u remove the money after getting m4b?

 

[coolguy1]

Will they downgrade and charge magnus if u remove the money after getting m4b?

Yes, you'll be charged 30K+ annual fees if you stop maintaining the balance and lose the true Burgundy status.

 

[pgarg24]

Yes, you'll be charged 30K+ annual fees if you stop maintaining the balance and lose the true Burgundy status.

What if my account is already burgandy.. (salary 2lpm) so burgandy status is maintained.. by true burgandy it means either 10L aqb or 3Lpm salary credit only?

 

[coolguy1]

What if my account is already burgandy.. (salary 2lpm) so burgandy status is maintained.. by true burgandy it means either 10L aqb or 3Lpm salary credit only?

Axis is weird, I would suggest staying away if you're going to withdraw that money as soon as you get the card.
There are other better cards in the market that can get you similar reward rate on much lower spends.

 

[insight]

One Glance Statement, it's generated monthly and you can see your AQB(Average Quarterly Balance) balance there.
Once it goes above 10L, you become eligible for Magnus Burgundy card.

What if my account is already burgandy.. (salary 2lpm) so burgandy status is maintained.. by true burgandy it means either 10L aqb or 3Lpm salary credit only?

The question is what is the lowest set of thresholds after qualifying & getting MB where you can maintain the MB without Axis charging?

 

[coolguy1]

The question is what is the lowest set of thresholds after qualifying & getting MB where you can maintain the MB without Axis charging?

10L AQB or 30L TRV or 1cr TRV with Demat.

Axis is trying hard to make money from the credit card division, devaluation after devaluation. Any day, they could start sending emails and charging money to their customers who are even 10 rs. lower than those mentioned numbers.

 

[insight]

30L TRV or 1cr TRV with Demat.

Whats the difference between these two things?

 

[coolguy1]

Whats the difference between these two things?

If you invest directly then it's 30L.

But if you move your Mutual funds from elsewhere then it has to be 1cr. Weird rules but their bank so they can decide anything lol.

 

[statusquo]

If you invest directly then it's 30L.

But if you move your Mutual funds from elsewhere then it has to be 1cr. Weird rules but their bank so they can decide anything lol.

Are you fully confident that this 1 cr limit is valid? Hope I’m not sounding rude, but for Magnus for Burgundy, a lot of people have replied in the past with semi-true information. I am ready to transfer this amount of mutual funds/ SGBs/ other demat holdings

 

[coolguy1]

Are you fully confident that this 1 cr limit is valid? Hope I’m not sounding rude, but for Magnus for Burgundy, a lot of people have replied in the past with semi-true information. I am ready to transfer this amount of mutual funds/ SGBs/ other demat holdings

With Axis, even the employees can't say anything with confidence. Reach out to your RM and speak to him personally!