Axis Magnus Axis Burgundy Salary account approval eligibility

[CC_Exuberant]

I have HDFC salary account for last 13 years and I have received INFINIA METAL LTF , yes LTF . Now I want to switch my salary account to some other bank . And close this old account for some reason , don’t ask me why I want to close such old account which would lead to lower CIBIL ..

I have ITR of 45 lakhs but my salary credit is only close to 1.5 . Hence not directly eligible for AXIS burgundy though my institution comes in their list where only 2 lakh credit is eligibility.

Approached branch , they told me if I share my last 3 months salary they will get it checked by their back end team and get approval for burgundy account .
So my question here is “Is it possible ? Or is it scam or bluff ? Anyone here who has the same case ” Thanks !

 

[m4b]

I still can't understand why Magnus Burgundy with their subpar 4.8% rewards?

Infinia gives fantastic on 5x/10x

SBI Air India Signature gives 10% Air India points with each point value between 0.6 to 1

Your use case is GVs for 5x/10x. I use for offline txn mostly and various high educational/rental spends. Sometimes marks and spencer with additional discount. Will comeback to this later. I prefer miles over discounts anyday.

 

[sonuyos]

yes yes no doubt
atleast twice in an year we spend 3l in a month we can easily reap benefits

Yes.

For high spenders it can be even more lucrative.

The only sad part is the rent limit.

If it was 1.2-1.5lk I could have done more concentrated spends for rent as my rent is 40k.

 

[Wealth is my birth right!]

Yes.

For high spenders it can be even more lucrative.

The only sad part is the rent limit.

If it was 1.2-1.5lk I could have done more concentrated spends for rent as my rent is 40k.

currently 50k pm right
they kept it for misuse of that category

 

[magnusfan]

What!! Did you receive the new Magnus Burgundy card after the upgrade earlier?

Yup - I think I got it in November or December

 

[magnusfan]

I pay rent of 65k per month..If I use Magnus, do un guys think I will get base rewards for 50k?

 

[sahilgulati5]

I pay rent of 65k per month..If I use Magnus, do un guys think I will get base rewards for 50k?

yes u will

 

[Wealth is my birth right!]

I pay rent of 65k per month..If I use Magnus, do un guys think I will get base rewards for 50k?

yes MLY upto 50k rent permissible with rewards (no extra charges till that i guess)

 

[m4b]

Yup - I think I got it in November or December

Send them one with the consent sms

 

[m4b]

yes MLY upto 50k rent permissible with rewards (no extra charges till that i guess)

1%+GST(Axis) on rent after any rent payment platform charges
Rent payment considered by axis is the rent after any rent payment platform charges

 

[Wealth is my birth right!]

1%+GST(Axis) on rent after any rent payment platform charges
Rent payment considered by axis is the rent after any rent payment platform charges

so for one who cross 1.5l then its well and good cover 50k rental charges

 

[m4b]

so for one who cross 1.5l then its well and good cover 50k rental charges

y e s,
I think after IDFC Vistara, m4b comes in to the picture for best RR on rental txn up to 50K
red giraffe charges ~0.5 and axis 1%+GST, next around 1.7%
Net base reward in this is 3%
If AEP then 8.7%

 

[Wealth is my birth right!]

y e s,
I think after IDFC Vistara, m4b comes in to the picture for best RR in rental txn up to 50K
red giraffe charges ~0.5 and axis 1%+GST, next around 1.7%
Net base reward in this is 3%
If AEP then 8.7%

yes i prefer m4b no nonsense straight rewards till 50k as well as qualify for reaching 1.5l soon

 

[cardio_guy]

Is it possible to switch salary accounts after getting premium credit cards as LTF?
For e.g., open ICICI salary account. Get sapphiro LTF.
Then close it and open HDFC salary account. Get regalia LTF
Then close it and open axis salary account and get their premium card as LTF

And so on.

Technically each switch will take anywhere between 6 to 8 months or 1 year.
But the question is - are these cards tied to bank accounts? If we close the bank account, will the LTF benefit be lost?

 

[pgarg24]

Is it possible to switch salary accounts after getting premium credit cards as LTF?
For e.g., open ICICI salary account. Get sapphiro LTF.
Then close it and open HDFC salary account. Get regalia LTF
Then close it and open axis salary account and get their premium card as LTF

And so on.

Technically each switch will take anywhere between 6 to 8 months or 1 year.
But the question is - are these cards tied to bank accounts? If we close the bank account, will the LTF benefit be lost?

If the salary is not credited for 3 months the accounts are generally downgraded to normal savings account. Once the cc is issued as ltf you can move your salary account to different bank.

 

[cardio_guy]

If the salary is not credited for 3 months the accounts are generally downgraded to normal savings account. Once the cc is issued as ltf you can move your salary account to different bank.

Yes I mean once I get the card, close that account and move to next bank. Not even wait to downgrade to normal salary account. But if we close the bank account, will it affect the card? Will the card become chargeable?

For icici, I know it doesn't. How about other banks? For axis, I read in this thread that card will become chargeable..

 

[pgarg24]

Yes I mean once I get the card, close that account and move to next bank. Not even wait to downgrade to normal salary account. But if we close the bank account, will it affect the card? Will the card become chargeable?

For icici, I know it doesn't. How about other banks? For axis, I read in this thread that card will become chargeable..

Never closed any account so not sure. Would request someone else to answer this.