Forgot to cancel magnus credit card

[gabu]

Now it's showing annual fees in unbilled amount. Can i ask them to cancel the card and reverse the fees?

 

[Rahul Gupta]

Now it's showing annual fees in unbilled amount. Can i ask them to cancel the card and reverse the fees?

Yes you can. This fees is for upcoming year, not previous one.

 

[gabu]

Yes you can. This fees is for upcoming year, not previous one.

Now it got billed in statement and I have placed cancellation request. Executive who took my request said reversal depends on approval. But your upcoming year fees point is valid.

 

[shashankrt]

Now it got billed in statement and I have placed cancellation request. Executive who took my request said reversal depends on approval. But your upcoming year fees point is valid.

Based on my past experience Axis will probably not reverse the fees (I hope they do in your case !) Also Axis customer service is a joke as they rarely respond to service requests related to financial transactions (especially reversals)

 

[CMGCMG is verified member.]

Now it's showing annual fees in unbilled amount. Can i ask them to cancel the card and reverse the fees?

Yes, they will, if you have zero transactions after the fee has been added.

 

[SSV]

Reminders and Alarms are greatly helpful in these scenarios…
Best wishes for your fee reversal and do update this thread with the outcome…

 

[gabu]

Yes, they will, if you have zero transactions after the fee has been added.

Yep no txn after fees was charged.

 

[gabu]

Reminders and Alarms are greatly helpful in these scenarios…
Best wishes for your fee reversal and do update this thread with the outcome…

I agree it was silly ignorance on my part. I thought annual fees is charged in dec but was billed in Dec.

 

[gabu]

Based on my past experience Axis will probably not reverse the fees (I hope they do in your case !) Also Axis customer service is a joke as they rarely respond to service requests related to financial transactions (especially reversals)

I guess annual fees is different from financial interest related txns. In that case even sbi and sc ignore from my past experience. But I will lure them with application of atlas card that I want to have instead.

 

[coolguy1]

Axis is a little shady but if you persist enough, they should return the fees and then you can cancel the card.

Or worst case scenario, if they don't return the fees, ask them to cancel the card and they will share some sort of retention offer.
You can use that to get back some percentage of fees, enjoy the reward points and other benefits for another year and then close it!

 

[gabu]

I have already placed cancellation request. She said annual fees may or may not be refunded. That too was taken when I asked for atlas card instead. First time the support ghosted my call.

 

[bigbrain]

How much have you spent on magnus card last year?

 

[gabu]

How much have you spent on magnus card last year?

7-8lacs.
But i am not asking for refund based on spend or waiver. I don't want to continue the card so annual fees should not be charged.

 

[bigbrain]

Got it. Just curious.
I think they will refund if you have not used the cards after the fees was charged. If not then you can raise a compliant to RBI

 

[gabu]

Received the call from retention/cancellation dept(hyd 040 no fyi) asked me to continue the card. Told him I would rather opt for atlas card after recent downgrade. Cancelled.
would be done within 2 days, annual fees will be adjusted and noc would be issued according to him(finger cross) and I can apply for atlas via whichever channel I like.
Thank you everyone problem solved.

 

[helloworld]

Received the call from retention/cancellation dept(hyd 040 no fyi) asked me to continue the card. Told him I would rather opt for atlas card after recent downgrade. Cancelled.
would be done within 2 days, annual fees will be adjusted and noc would be issued according to him(finger cross) and I can apply for atlas via whichever channel I like.
Thank you everyone problem solved.

Annual fee where it will be adjusted or refunded?

 

[gabu]

Annual fee where it will be adjusted or refunded?

Annual fees is already levied in latest statement. He said no need to pay. Account will be adjusted and closed.

 

[BMR]

This is scary. My Magnus was issued on 23 Jan 2023 and my bill gets generated on 18th of every month.

So will the annual fee be added to my statement that will be generated on 18th Dec ?

 

[bigbrain]

This is scary. My Magnus was issued on 23 Jan 2023 and my bill gets generated on 18th of every month.

So will the annual fee be added to my statement that will be generated on 18th Dec ?

No. It will be charged on 23rd Jan 2024 and will reflect in Feb statement.

 

[gabu]

Mine was charged on 19th nov 2022 last time.
This time added on 16th nov 2023.