Burgundy Private Debit card upgrade

[EINSTEIN]

I opened Axis burgundy account digitally last month and today I was changing my debit card pin when I stumbled upon upgrade option. I was not able to find the difference between this and existing debit card can anyone please explain?

 

[EINSTEIN]

One query to HNI/UHNI people holding private/wealth accounts: What special benefits do you folks look for ? Is it luxury benefits? Coz even a regular savings account has most of the comparable offers - DC, CC are more or less same (except like classic vs infinite); nearly everything is digitized, so banking services also remain same, except when professional help is need... Just want to know from an HNI perspective... All I can think of the extra is the luxury benefits and dedicated service in such cases.

Everyone likes to keep a portion of their income readily available so if someone is already keeping lakhs or crores in accounts to be spent regularly or waiting for investment opportunities why not get a higher variant account. There is no penalty if you don’t maintain balance for a few months anyway. Most of the time if you’re maintaining a certain amount in balance bank will automatically upgrade your account.

 

[Wealth is my birth right!]

Spouse opened Burgundy digitally (not online, but at the branch with the RM guiding). Got Visa Infinite DC. Got the option to upgrade to Burgundy Private (also Visa Infinite) DC.

I opened an account in her family (different process, needed a cheque, but only 50k initial funding), just received Burgundy Mastercard DC, and there's no option for me to upgrade to Private DC.

Just adding as a data point here. I don't think there's any logic to this.

What’s the initial funding requirement by branch and is it same for burgundy and burgundy pvt both?

 

[Wealth is my birth right!]

Everyone likes to keep a portion of their income readily available so if someone is already keeping lakhs or crores in accounts to be spent regularly or waiting for investment opportunities why not get a higher variant account. There is no penalty if you don’t maintain balance for a few months anyway. Most of the time if you’re maintaining a certain amount in balance bank will automatically upgrade your account.

True true ur last line
I was pooling some where around 20lac for a home loan closure in my scb account and it was in account for a quarter and I got my account upgraded to premium banking automatically
Then I paid HL and till now several months they didn’t degrade yet with balance less than a lakh

 

[Rahul92]

True true ur last line
I was pooling some where around 20lac for a home loan closure in my scb account and it was in account for a quarter and I got my account upgraded to premium banking automatically
Then I paid HL and till now several months they didn’t degrade yet with balance less than a lakh

Which bank/account varient?

 

[EINSTEIN]

What’s the initial funding requirement by branch and is it same for burgundy and burgundy pvt both?

For Burgundy it’s same 5L minimum for private I will ask tomorrow.

 

[Wealth is my birth right!]

Which bank/account varient?

Standard chartered salary account

 

[Wealth is my birth right!]

For Burgundy it’s same 5L minimum for private I will ask tomorrow.

Ok thanks
Did they promised for ltf select cc as compliment for burgundy

 

[avishj]

Ok thanks
Did they promised for ltf select cc as compliment for burgundy

Even if they don't allow, CS can convert paid select and reverse charges + GST.

I wrote to the MD desk and got a call clarifying that if I maintain the Burgundy Savings TRV, there will be 0 annual charges for Burgundy Private Debit Card.

Can you please share this screenshot?

 

[CVR]

I have Burgundy Debit (not private) card. What are the ways to earn edge reward points on debit card as well? Can we get reward points for using debit card to pay credit card outstanding?

 

[hrishig]

I have Burgundy Debit (not private) card. What are the ways to earn edge reward points on debit card as well? Can we get reward points for using debit card to pay credit card outstanding?

yes, do it via cred ( above 1 lkh) or via Paytm. burgendy private debit will give you more edge rewards than normal buegendy. But the success ratio of direct cc bill payment is less. Insted add money first from debit card to bank account (25k daily limit) and then keep paying via bank account via multiple transactions. Works worder with magnus milestone rewards as at year-end you get huge edge reward points.

 

[CVR]

yes, do it via cred ( above 1 lkh) or via Paytm. burgendy private debit will give you more edge rewards than normal buegendy. But the success ratio of direct cc bill payment is less. Insted add money first from debit card to bank account (25k daily limit) and then keep paying via bank account via multiple transactions. Works worder with magnus milestone rewards as at year-end you get huge edge reward points.

what do u mean by add money from debit card to bank account? And y above 1 lakh only?

I have axis credit card, axis bank account and axis debit card. i do have other bank accounts and credit cards as well but axis is primary.

 

[avishj]

yes, do it via cred ( above 1 lkh) or via Paytm. burgendy private debit will give you more edge rewards than normal buegendy. But the success ratio of direct cc bill payment is less. Insted add money first from debit card to bank account (25k daily limit) and then keep paying via bank account via multiple transactions. Works worder with magnus milestone rewards as at year-end you get huge edge reward points.

CRED minimum for DC payment has been 50k for a while now, also add money from DC to bank account? You mean K811 one? That too iirc has been restricted to 10k * 3 after the IDFC Festive Offer Exploitation.

 

[hrishig]

what do u mean by add money from debit card to bank account? And y above 1 lakh only?

I have axis credit card, axis bank account and axis debit card. i do have other bank accounts and credit cards as well but axis is primary.

if you have to pay say axis magnus card bill of 1 lkh. Then insted of auto payment first transfer 25k for 4 days to Paytm via axis debit card. Then move it from paytm to any bank. This will give edge points using debit card on 1lkh (around 1.5k for private debit card). If you keep the money in Paytm bank account pay the 1 lkh bill via Paytm and get Paytm points or via cred to get cred points.

 

[avishj]

if you have to pay say axis magnus card bill of 1 lkh. Then insted of auto payment first transfer 25k for 4 days to Paytm via axis debit card. Then move it from paytm to any bank. This will give edge points using debit card on 1lkh (around 1.5k for private debit card). If you keep the money in Paytm bank account pay the 1 lkh bill via Paytm and get Paytm points or via cred to get cred points.

Makes sense, but won't the reward via alternative DC's be better like HDFC Plat/IndusInd Exlusive/RBL Signature+?

 

[hrishig]

Makes sense, but won't the reward via alternative DC's be better like HDFC Plat/IndusInd Exlusive/RBL Signature+?

hdfc plat dc limit is 750 rs per month which can easily get exausted via other bill payments. You can turn axis edge points for more than 1 rs per point if you plan properly. ( business class / first class travel or marriot stay for 5 days using points). Again not everyone might do this. Don't have other cards and i am reducing my cc and bank accounts so may not go for those.

 

[shubhamosy]

now, they stopped issuing Burgundy VISA variant also. Only Burgundy MC variant is available now. PNO said they don't issue VISA variant of the card anymore, not even Burgundy VISA variant. I've raised an issue with RBI Ombudsman, got a call yesterday from AXIS bank yesterday, they said they'll update me in 3 days.

any help from RBI Ombudsman?

 

[__Kash__]

any help from RBI Ombudsman?

No, they didn't do anything. RBI ombudsman closed the case after getting a reply from AXIS that they can't upgrade the card. That's it, they didn't even ask my response.

 

[insight]

No, they didn't do anything. RBI ombudsman closed the case after getting a reply from AXIS that they can't upgrade the card. That's it, they didn't even ask my response.

Any updates since then? Still with B MC?