Axis Magnus Axis Magnus/Samsung Infinite with Burgundy account

[VGisHere]

So, the Axis Magnus with Burgundy currently offers LTF card with conversion ratio of ERPs of 5:4

The eligibility of Burgundy is as follows,
Burgundy relationship eligibility criteria, calculated at a Customer ID level or Family ID# level:

• Maintenance of an Average Quarterly Balance of INR 10,00,000 in the Savings Account, OR
• Maintenance of an Average Quarterly Balance of INR 10,00,000 across Savings Accounts
  and Current Accounts, OR
• Maintenance of a minimum Total Relationship Value^(TRV) of INR 30,00,000, OR
• Maintenance of a minimum Total Relationship Value^(TRV) of INR 1,00,00,000, which
  includes Demat holdings, OR
• 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
• 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)

Now, the question is, I have a pending 25k bonus points from month of August on Magnus.
If I now apply for Samsung Infinite Card, I get 30k more ERPs, totalling to 55k.

Additionally, if I have Burgundy account, that would mean, 55k ERPs converted at 5:4 ratio for airmiles
So, I would get 22k more CV points with Burgundy account.

My question would be,
1. How is it to upgrade to Burgundy (I don't have a Axis Savings Account yet)? Do we have to wait for few months first?
2. What if I go on to requesting for Downgrade after I convert the ERPs?
3. Is it actually worth upgrading to Burgundy for the point conversion?

 

[gamersgzb]

So, the Axis Magnus with Burgundy currently offers LTF card with conversion ratio of ERPs of 5:4

The eligibility of Burgundy is as follows,
Burgundy relationship eligibility criteria, calculated at a Customer ID level or Family ID# level:

What is the source of this information?
I do not think axis Bank has given any official confirmation.. and all the documents which are circulating on Twitter and the forum mention trv to be maintained at individual level instead of family level... there are two threads on this please check them...

 

[VGisHere]

Source of information: https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/mgtc.pdf

 

[vaibhav111vaibhav111 is verified member.]

Source of information: https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/mgtc.pdf

I couldn't find anything new point out to magnus+

 

[VGisHere]

I couldn't find anything new point out to magnus+

Lets keep Magnus+ aside for now.

My question is more bent towards current Magnus holders without Burgundy account.
Does it make sense to redeem the 25k+30k ERPs on 5:4 conversion ratio which would be provided by Burgundy account?

Does the 5:4 conversion ratio stand for Samsung Infinite Card too?

 

[vaibhav111vaibhav111 is verified member.]

Lets keep Magnus+ aside for now.

My question is more bent towards current Magnus holders without Burgundy account.
Does it make sense to redeem the 25k+30k ERPs on 5:4 conversion ratio which would be provided by Burgundy account?

Does the 5:4 conversion ratio stand for Samsung Infinite Card too?

Just for Magnus 5 : 4

 

[drsel]

Lets keep Magnus+ aside for now.

My question is more bent towards current Magnus holders without Burgundy account.
Does it make sense to redeem the 25k+30k ERPs on 5:4 conversion ratio which would be provided by Burgundy account?

Does the 5:4 conversion ratio stand for Samsung Infinite Card too?

Even I am waiting for my 25000 August points on magnus and 30000 welcome bonus points on Samsung infinite
it is yet to be seen whether the Samsung infinite points get converted at 5:4 or 5:2 or 10:1

 

[Salvo08]

So, the Axis Magnus with Burgundy currently offers LTF card with conversion ratio of ERPs of 5:4

The eligibility of Burgundy is as follows,
Burgundy relationship eligibility criteria, calculated at a Customer ID level or Family ID# level:

• Maintenance of an Average Quarterly Balance of INR 10,00,000 in the Savings Account, OR
• Maintenance of an Average Quarterly Balance of INR 10,00,000 across Savings Accounts
  and Current Accounts, OR
• Maintenance of a minimum Total Relationship Value^(TRV) of INR 30,00,000, OR
• Maintenance of a minimum Total Relationship Value^(TRV) of INR 1,00,00,000, which
  includes Demat holdings, OR
• 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
• 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)

Now, the question is, I have a pending 25k bonus points from month of August on Magnus.
If I now apply for Samsung Infinite Card, I get 30k more ERPs, totalling to 55k.

Additionally, if I have Burgundy account, that would mean, 55k ERPs converted at 5:4 ratio for airmiles
So, I would get 22k more CV points with Burgundy account.

My question would be,
1. How is it to upgrade to Burgundy (I don't have a Axis Savings Account yet)? Do we have to wait for few months first?
2. What if I go on to requesting for Downgrade after I convert the ERPs?
3. Is it actually worth upgrading to Burgundy for the point conversion?

With family ID one can have Burgundy acct but not Magnus Burgundy. As per the FAQs individual account (The one applying for Magnus) should meet the AQB criteria.

 

[Salvo08]

Even I am waiting for my 25000 August points on magnus and 30000 welcome bonus points on Samsung infinite
it is yet to be seen whether the Samsung infinite points get converted at 5:4 or 5:2 or 10:1

Though we would want them to go for 5:4 but I think those will go to 5:2 category.

 

[CVR]

Samsung Infinite welcome bonus of 30k mostly will get 5:2. Magnus August 25k milestone mostly will get 5:4.

 

[drsel]

I have just received my Burgundy card and after setting the 4 digit PIN on mobile app, the points to miles ratio has changed from 5:2 to 5:4 for all the points pending.

but in 2 weeks I am expecting some points from Samsung infinite card (Samsung points come after 60 days gap).
so should I wait for those points and then convert all at 5:4 or should I convert the existing points NOW?

If I convert all existing points now at 5:4 ratio, then after 15 days when the Samsung infinite points come, will they come in the same basket of 5:4 or some other basket of 5:2 or some other ratio?

Is it better that I don't convert any points right now and wait for all the Samsung points to come ?
then will they all come in the same basket?

@anirban.choudhury @TechnoFino @

 

[drsel]

On my phone banking I can see only one pool--
Edge points xxx

On my laptop netbanking I can see 3 pools-
Edge points xxx
Magnus burgundy 0
Atlas edge miles 0

Customer care can see the different points given by each individual card separately, (even old cards which were closed), which I cannot see.

I have not used Magnus burgundy card yet .

I strongly suspect that once I start using Magnus Burgundy and Magnus Burgundy points increase from zero, then the Magnus Burgundy pool will start getting 5:4 ratio and Edge points will get reduced to 5:2 ratio

 

[svs_23]

I have just received my Burgundy card and after setting the 4 digit PIN on mobile app, the points to miles ratio has changed from 5:2 to 5:4 for all the points pending.

but in 2 weeks I am expecting some points from Samsung infinite card (Samsung points come after 60 days gap).
so should I wait for those points and then convert all at 5:4 or should I convert the existing points NOW?

If I convert all existing points now at 5:4 ratio, then after 15 days when the Samsung infinite points come, will they come in the same basket of 5:4 or some other basket of 5:2 or some other ratio?

Is it better that I don't convert any points right now and wait for all the Samsung points to come ?
then will they all come in the same basket?

@anirban.choudhury @TechnoFino @

So far they have been allowing all points to be converted @ 5:4 for Magnus Burgundy card holders

 

[Salvo08]

I have just received my Burgundy card and after setting the 4 digit PIN on mobile app, the points to miles ratio has changed from 5:2 to 5:4 for all the points pending.

but in 2 weeks I am expecting some points from Samsung infinite card (Samsung points come after 60 days gap).
so should I wait for those points and then convert all at 5:4 or should I convert the existing points NOW?

If I convert all existing points now at 5:4 ratio, then after 15 days when the Samsung infinite points come, will they come in the same basket of 5:4 or some other basket of 5:2 or some other ratio?

Is it better that I don't convert any points right now and wait for all the Samsung points to come ?
then will they all come in the same basket?

@anirban.choudhury @TechnoFino @

Convert all points ASAP.. After few days, once the segregation of edge rewards kicks in, you will only get 5:2.