Axis Magnus Burgundy Magnus 5:4 ratio

[drsel]

1) Please post here when your Magnus card with Burgundy status shows a 5:4 conversion ratio.

2) Also post if you have received a brand new Burgundy Magnus card or have the same old Magnus card.

3) Whether the brand new burgundy Magnus card is lifetime free or old Magnus card is made lifetime free because of your Burgundy 10 lac AQB savings account.

So far I don't think anyone in India is getting it, but its supposed to be starting from 15 to 21 September 2023.

Also kindly let us know how simple and easy it is to convert your existing ordinary savings account in Axis Bank to a Burgundy savings account. Thanks 🙏

 

[SteelSh0t]

Nothing yet. Axis should have fixed this transfer ratio by now.

 

[bhandchawla]

Axis is just stalling all of us.

 

[drsel]

I deposited 5 lacs in my axis regular savings to convert to Burgundy, but they could not do it.

this said you have to keep 10 lacs to start with and then they can process the application to convert regular savings account to burgundy

 

[Sanjeet]

1. Open a new burgundy account in your spouse/family member name with 5L
2. Create a family ID
3. Deposit 5L in existing account with 'consent to upgrade' form
4. Now both of you are Burgundy under a common Family ID
5. Maintain AQB of 10L cumulative in savings and avail Magnus 5:4 for being 'True Burgundy' customer

 

[drsel]

1. Open a new burgundy account in your spouse/family member name with 5L
2. Create a family ID
3. Deposit 5L in existing account with 'consent to upgrade' form
4. Now both of you are Burgundy under a common Family ID
5. Maintain AQB of 10L cumulative in savings and avail Magnus 5:4 for being 'True Burgundy' customer

What about the 5 lacs idle in my account ?
should I transfer it to my wife's name and open a new Burgundy account in her name?

But my wife does not have any Axis credit card.
only I have three including Magnus

 

[mastfun]

Amex is providing 3:1 on Vistara isn't it good?

 

[drsel]

Amex is providing 3:1 on Vistara isn't it good?
View attachment 30032

Not good.
Amex points are worth about 30--31 paisa
Vistara points are worth 50 paisa for economy, more than 1 rupee for business class.

 

[Deleted member 5387]

1. Open a new burgundy account in your spouse/family member name with 5L
2. Create a family ID
3. Deposit 5L in existing account with 'consent to upgrade' form
4. Now both of you are Burgundy under a common Family ID
5. Maintain AQB of 10L cumulative in savings and avail Magnus 5:4 for being 'True Burgundy' customer

Axis says, it should be per customer id . I received this reply from their customer care.

 

[edm]

please don’t go for burgundy account if axis able to grab enough customers will lead to other banks also trying same strategy

 

[drsel]

please don’t go for burgundy account if axis able to grab enough customers will lead to other banks also trying same strategy

Let other banks also provide cards like Magnus.

 

[Deleted member 11974]

Amex is providing 3:1 on Vistara isn't it good?
View attachment 30032

wasnt amex to vistara transfer ratio 2:1?

 

[aakashyadava]

Axis says, it should be per customer id . I received this reply from their customer care.

At least they could have allowed 5:4 for Family Burgundy. Initially they communicated they will allow for Family Burgundy.

 

[PavanPavan is verified member.]

Guys it's not family ID cust id should have 10 LAKH savings or 30 Lkah FD
Confirmed from region head only

So don't rush if there are questions

Once upgraded you can't downgrade for three months

 

[anirban.choudhuryanirban.choudhury is verified member.]

Not good.
Amex points are worth about 30--31 paisa
Vistara points are worth 50 paisa for economy, more than 1 rupee for business class.

If used properly , Amex points are worth around 50-70 paise in Marriot to 1.5-2 Rs in Virgin Atlantic and Cathay Pacific.

 

[SohailAhmad]

Customer care also confirmed, 10 Lakh has to be maintained at individual customer id level.

 

[drsel]

Thanks so having 5 lakhs in your account and 5 lacs in your wife account, combined 10 lakhs will not help you get the 5:4 conversion

 

[drsel]

So far not a single person has got 5:4 conversion. still waiting for the first person to get it

 

[CardScout]

confirmed by burgundy customer care, changes will come in action by tomorrow. when i asked about magnus+ , they werent aware of same.

I also had a converstaion with a guy from the cards team. He said 5:4 should start from 3rd week of Sept for burgundy customers.
Waiting for it to show up

 

[PavanPavan is verified member.]

Thanks so having 5 lakhs in your account and 5 lacs in your wife account, combined 10 lakhs will not help you get the 5:4 conversion

I also had a converstaion with a guy from the cards team. He said 5:4 should start from 3rd week of Sept for burgundy customers.
Waiting for it to show up

Real burgandy with mangus are seems less for people who open after spetember 1st and with AMB is 10 L they need to wait for another month because for them AMB will be less than 10L for now in system 🙂

 

[drsel]

Real burgandy with mangus are seems less for people who open after spetember 1st and with AMB is 10 L they need to wait for another month because for them AMB will be less than 10L for now in system 🙂

My Burgundy relationship manager said that for 10 lacs AQB, the 90 day period is considered from the start of opening the Burgundy account and not the calendar quarter of 90 days