Axis Magnus application rejection

[jeevanraj]

Hello everyone,

I applied online for Axis Magnus credit card 2 or 3 months ago. I meet all the eligibility criteria mentioned on their website for the card. Someone came to my house for KYC and document verification (fyi - he did not collect any income documents). There was an enquire on cibil as well (At the time of enquiry my cibil score was around 755 - 760). The application was shown as in review on application tracker for few days and it got rejected. I do meet all the eligibility criteria for Magus, my salary is well above the required limit, have a good cibil score as well but for the life me I couldn't figure out why they rejected my application.

So I decided to write to pno asking for the reason for rejection but i'm getting a standard "you did not meet our card issuance guidelines". They do take considerable number of days to reply and each time their reply seems like some predefined template instead of providing me the specific reason for rejection. This has been going on for a month now. Is there any way I could make them reconsider my application or get an answer for their rejection?

PS: They are asking me to wait for another 6 month before re-applying.

Also I already have an Axis Flipkart credit card with Rs 2 Lakh limit. Not an axis bank account holder though.

@TechnoFino

 

[CMGCMG is verified member.]

I received a similar message for my application submitted in may

Thank you for applying for an Axis Bank Credit card. However, we regret to inform you of our inability to process the same, as it aces not meet the banks prevailing card issuance guidelines.

I think all the recent applications are getting approved.

 

[jeevanraj]

@cmg did you resubmitted your application after the rejection?

 

[BMR]

How about applying it offline instead ? Atleast you will know the exact reason if the process gets halted.

 

[CMGCMG is verified member.]

@cmg did you resubmitted your application after the rejection?

Nope.

 

[jeevanraj]

How about applying it offline instead ? Atleast you will know the exact reason if the process gets halted.

To apply fresh application now I might have to wait for 6 months. In case if I apply again via offline within 6 months they might not consider it again. So I'm thinking of asking them to reconsider my existing application.

 

[TechnoFinoTechnoFino is verified member.]

Hello everyone,

I applied online for Axis Magnus credit card 2 or 3 months ago. I meet all the eligibility criteria mentioned on their website for the card. Someone came to my house for KYC and document verification (fyi - he did not collect any income documents). There was an enquire on cibil as well (At the time of enquiry my cibil score was around 755 - 760). The application was shown as in review on application tracker for few days and it got rejected. I do meet all the eligibility criteria for Magus, my salary is well above the required limit, have a good cibil score as well but for the life me I couldn't figure out why they rejected my application.

So I decided to write to pno asking for the reason for rejection but i'm getting a standard "you did not meet our card issuance guidelines". They do take considerable number of days to reply and each time their reply seems like some predefined template instead of providing me the specific reason for rejection. This has been going on for a month now. Is there any way I could make them reconsider my application or get an answer for their rejection?

PS: They are asking me to wait for another 6 month before re-applying.

Also I already have an Axis Flipkart credit card with Rs 2 Lakh limit. Not an axis bank account holder though.

@TechnoFino

View attachment 4765

"Internal policies" is not a valid reason in my opinion, you can move to RBI and ask for clarification, if you want.
and just email axis bank and ask them to upgrade your Flipkart card to Magnus and keep both card active. as you have 2L limit they might upgrade your card.

 

[jeevanraj]

"Internal policies" is not a valid reason in my opinion, you can move to RBI and ask for clarification, if you want.
and just email axis bank and ask them to upgrade your Flipkart card to Magnus and keep both card active. as you have 2L limit they might upgrade your card.

If I wish to move to RBI, what is the procedure? Should I email crpc@rbi.org.in or any other emails or is there a portal where I have to raise a complaint (

https://cms.rbi.org.in/cms/indexpage.html#eng

not sure if this is the right one?) ?

Also I didn't knew that they would upgrade Axis Flipkart to Magnus. Even though if they upgrade wouldn't they cancel Flipkart card and issue Magnus?

Thank you for your reply.

 

[TechnoFinoTechnoFino is verified member.]

use the CMS portal. the link is correct.

 

[jeevanraj]

Thanks @TechnoFino

If they upgrade Axis Flipkart card to Magnus, wouldn't they cancel Flipkart card and issue Magnus? Have been using HDFC for so long I don't have any idea how other card upgrades work. As much as I want Magnus, I would like to keep Axis Flipkart as well since it is LTF.

 

[BMR]

As far as I have heard from the community here , and from my own personal experience , customer care has stopped taking upgrade requests. They ask you to apply for a new credit card online. They talk about some new rbi rule for not accepting upgrade request. There’s a thread here detailing this discussion.

 

[TechnoFinoTechnoFino is verified member.]

Thanks @TechnoFino

If they upgrade Axis Flipkart card to Magnus, wouldn't they cancel Flipkart card and issue Magnus? Have been using HDFC for so long I don't have any idea how other card upgrades work. As much as I want Magnus, I would like to keep Axis Flipkart as well since it is LTF.

yes, email and request.

As far as I have heard from the community here , and from my own personal experience , customer care has stopped taking upgrade requests. They ask you to apply for a new credit card online. They talk about some new rbi rule for not accepting upgrade request. There’s a thread here detailing this discussion.

yes, they are not upgrading card on call but via email... it's still working.

 

[CMGCMG is verified member.]

Thanks @TechnoFino

If they upgrade Axis Flipkart card to Magnus, wouldn't they cancel Flipkart card and issue Magnus? Have been using HDFC for so long I don't have any idea how other card upgrades work. As much as I want Magnus, I would like to keep Axis Flipkart as well since it is LTF.

When upgrades were possible, if the upgraded card is on same reward system, the old card would get cancelled. If it is a different reward system(for eg: Select upgrading to vistara) a new card will be issued with same limit and the existing card continues.

There was a pdf from axis bank mentioning this. Can’t find it now.

 

[chaphya]

going by what you have described, apply again. if they did just kyc and did not collect any documents then your application was never taken up for consideration and rejected because there was no supporting documentation. I know a lot of people with whom this has happened
just apply again and make sure the person collects your documents, C2C statement if you are going that route, and signatures.
These KYC and document services are outsourced and not everyone does a great job.

best bet? go to a branch and apply.

 

[RAJAT1]

I am having a similar case, my CIBIL is 780. I already hold Vistara Infinite and ACE, meet all eligibilty criteria, Cancelled my axis flipkart recently so I can apply for magnus(considering max 3 cards). I applied 3 times already via online link however each team its getting declined and below reason is shared.

"we regret our inability to process the same as
the documents provided by you are insufficient/inadequate and does not meet the Bank's credit norms"

Now, I never submitted them any document as during online application they do not ask for any documents, on speaking with CC they also have no clue and only saying decline should not happen blah blah...

I hold a savings account with them ,Also, when I login to axis app I can see atlas select aura and 3 other cards pre-approved... but not magnus

Can anyone advise how do I proceed in this case??

 

[BMR]

I am having a similar case, my CIBIL is 780. I already hold Vistara Infinite and ACE, meet all eligibilty criteria, Cancelled my axis flipkart recently so I can apply for magnus(considering max 3 cards). I applied 3 times already via online link however each team its getting declined and below reason is shared.

"we regret our inability to process the same as
the documents provided by you are insufficient/inadequate and does not meet the Bank's credit norms"

Now, I never submitted them any document as during online application they do not ask for any documents, on speaking with CC they also have no clue and only saying decline should not happen blah blah...

I hold a savings account with them ,Also, when I login to axis app I can see atlas select aura and 3 other cards pre-approved... but not magnus

Can anyone advise how do I proceed in this case??

Go to the branch and apply. The offline agent will take your documents and process the application. I don’t see a reason why you shone not get the new card.

Same thing happened with me.

 

[TechnoFinoTechnoFino is verified member.]

When upgrades were possible, if the upgraded card is on same reward system, the old card would get cancelled. If it is a different reward system(for eg: Select upgrading to vistara) a new card will be issued with same limit and the existing card continues.

There was a pdf from axis bank mentioning this. Can’t find it now.

While placing upgrade request, you can request axis to keep your both card active or you can request them to close your old card. both are possible.

 

[jeevanraj]

yes, email and request.

yes, they are not upgrading card on call but via email... it's still working.

Looks like they are not taking upgrade requests on email either. I reached out to axis customer care via email and this was their response - "As per RBI Circular all Credit Card Conversion request to be stopped with effect from 6th Aug'22 until further notice,"

 

[Namans]

Applied for Magnus on Thursday, completed eKYC same day, next day person came with physical application form and I signed it but when I asked him if he needed any documents he said not required.
Saturday I got this message
“Congratulations, welcome to Axis Bank Credit Cards! Your Application for Axis Bank Credit Card is approved. The card details will follow shortly.”
Does this mean the card has been approved? Because today I called the guy who came for the physical application and he just said that it is still with underwriting team so the application will take time.

 

[CMGCMG is verified member.]

Applied for Magnus on Thursday, completed eKYC same day, next day person came with physical application form and I signed it but when I asked him if he needed any documents he said not required.
Saturday I got this message
“Congratulations, welcome to Axis Bank Credit Cards! Your Application for Axis Bank Credit Card is approved. The card details will follow shortly.”
Does this mean the card has been approved? Because today I called the guy who came for the physical application and he just said that it is still with underwriting team so the application will take time.

Do you have axis bank account?