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 🙏

 

[CVR]

Got confirmation from A-xis on email that TRV not required for salary customers. Attaching the screenshot.

 

[MilesMax]

Got confirmation from A-xis on email that TRV not required for salary customers. Attaching the screenshot.

TRV, 10L AQB, 3L+ Salary. All 3 are eligible.

 

[CVR]

TRV, 10L AQB, 3L+ Salary. All 3 are eligible.

Yes. You just need one of the 3 criteria. Unnecessary confusion by bank since yesterday.

 

[Salvo08]

Yes. You just need one of the 3 criteria. Unnecessary confusion by bank since yesterday.

Ya it had to be. Poor customer care executives weren’t obviously briefed well by the higher ups.

 

[SteelSh0t]

Ya I had to be. Poor customer care executives weren’t obviously briefed well by the higher ups.

I don't think customer care has the power to deny upgrade offer. It maybe the bank's system that decides whether to upgrade or not. I have connected to well over 5 customer care execs and all of them said that the system is giving an error while upgrading my card.

Sent an email to premium experience and they are saying that I need to wait 45 days till I fulfill the requirements before I can request to get my card upgraded. What a joke 🙂

 

[anirban.choudhuryanirban.choudhury is verified member.]

Yes. You just need one of the 3 criteria. Unnecessary confusion by bank since yesterday.

Tried with burgundy salary for my wife
3 different executives picked up and all 3 had same stance , as per their internal circular they can issue LTF Burgundy Magnus only to those who have a 30 lakhs TRV in last one glance statement , they told she can still apply but it will be charged 12500 Rs.
Anyways will wait for a few more day and would try again

 

[CVR]

Tried with burgundy salary for my wife
3 different executives picked up and all 3 had same stance , as per their internal circular they can issue LTF Burgundy Magnus only to those who have a 30 lakhs TRV in last one glance statement , they told she can still apply but it will be charged 12500 Rs.
Anyways will wait for a few more day and would try again

Customer care is confused. It is 100% confirmed that burgundy salary doesn’t require any other criteria as i have that on email as well and multiple people in my office have also got the upgrade.

 

[Salvo08]

Tried with burgundy salary for my wife
3 different executives picked up and all 3 had same stance , as per their internal circular they can issue LTF Burgundy Magnus only to those who have a 30 lakhs TRV in last one glance statement , they told she can still apply but it will be charged 12500 Rs.
Anyways will wait for a few more day and would try again

Ya it’ll be clear in couple of days when people start receiving the card. But frankly Magnus with 30L will hardly be a sell. The ones already having the TRV would qualify not many can spare 30L for a credit card. It may be a marketing strategy that for few days keep saying TRV and then say ok we’ll give it to AQB as well. Most of us will rush for the offer thinking that we’ll be saving 20L to put in an account. Probably I was one of those lucky ones yesterday who got the upgrade for AQB only.

 

[chasni]

Ya it’ll clear in couple of days when people start receiving the card. But frankly Magnus with 30L will hardly be a sell. The ones already having the TRV would qualify not many can spare 30L for a credit card. It may be a marketing strategy that for few days keep saying TRV and then say ok we’ll give it to AQB as well. Most of us will rush for the offer thinking that we’ll be saving 20L to put in an account. Probably I was one of those lucky ones yesterday who got the upgrade for AQB only.

I think you may be maintaining the AQB for longer than a month? Most people here, I have noticed have transferred funds in last 2-3 weeks.

 

[Salvo08]

I think you may be maintaining the AQB for longer than a month? Most people here, I have noticed have transferred funds in last 2-3 weeks.

Ya for the past two and a half years

 

[SteelSh0t]

Ya for the past two and a half years

Since when were you maintaining 10 lakhs in your bank account?

 

[Salvo08]

Since when were you maintaining 10 lakhs in your bank account?

Family ID with me as primary account holder since conversion to Burgundy with bal being 8-9 lakhs in my account, with health insurance through Axis, MF investment and couple of FDs. Moved my FDs 3 months back to some other bank. Individually beefed up just a week back to meet the individual AQB criteria.

 

[Hardik2104]

Family ID with me as primary account holder since conversion to Burgundy with bal being 8-9 lakhs in my account, with health insurance through Axis, MF investment and couple of FDs. Moved my FDs 3 months back to some other bank. Individually beefed up just a week back to meet the individual AQB criteria.

If it is FDs, MF etc, it becomes TRV of 30 lakhs.

For 10 lakhs AQB, it has to be idle 10 lakhs lying in your savings / current account.

 

[Salvo08]

If it is FDs, MF etc, it becomes TRV of 30 lakhs.

For 10 lakhs AQB, it has to be idle 10 lakhs lying in your savings / current account.

Ya that’s what i explained in the post. I brought out other things just to narrate my relationship with the bank. For AQB i had to transfer money to my account.

 

[drabhishekladdha]

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 🙏

I was told that card will be delivered in 10 to 12 working days

 

[Dragon_slayer]

Received the new Magnus Burgundy card, but transfer ratio still shows 5:2 on app. Probably they will fix it later

 

[drsel]

Received the new Magnus Burgundy card, but transfer ratio still shows 5:2 on app. Probably they will fix it later

Customer care said that you will get 5:2 ratio for the other cards in your portfolio (which earn edge points) when you have either old Magnus or new Magnus Burgundy, in both cases.

But points earned by Magnus Burgundy card are shown separately and will get 5:4 ratio, which may come later, 3 days after you use it.

 

[Dragon_slayer]

Customer care said that you will get 5:2 ratio for your other cards in your portfolio when you have either old Magnus old or new Magnus Burgundy.

But points earned by Magnus Burgundy card are shown separately and will get 5:4 ratio, which may come later

Actually, my points are from my old mangus itself.

 

[hrishig]

Received the new Magnus Burgundy card, but transfer ratio still shows 5:2 on app. Probably they will fix it later

How much time it takes to get new card in hand after approval?

 

[Dragon_slayer]

How much time it takes to get new card in hand after approval?

Less than 48 hours in my case. I upgraded from normal mangus