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Is it possible to get LTF Magnus for new Burgundy accounts?

maynigam

TF Premier
Hello guys
I am considering opening a new burgundy account and I have the following queries.
I was holding magnus last year and I closed it in February 2024. Since then, I am using a paid Atlas. I don't have any other relationship with Axis.

1. Can I open a new burgundy account and request for a LTF Magnus? If not LTF, atleast FYF?
2. Can I request that my Atlas be made LTF?
3. How soon can I expect to receive the card if approved?
4. If burgundy criteria is not met after few months, is there any penalty or I'll just loose the 5:4 privilege? What happens to the LTF card?

Let me clarify my purpose:
1. I need to keep a large amount in some savings account (for liquidity) for around 6 months only. So this seems to be the most rewarding deal if they give me LTF/FYF Magnus.
2. I need to make 10L down payment for a new car. M4B seems much more rewarding than Atlas for this amount! As per my calculations, a paid M4B is also more rewarding than Atlas for this transaction. (Please correct me if I'm wrong)

Please guide! Thanks in advance
 
He wasn't even sure on call.H e kept saying we can try but no guarantee.

I checked with another BM who checked with m4b team and said the application will get rejected from backend.
For all who are expecting MB with 5lakh funding burgundy account. Please note that Axis will not approve as the criteria is quite strict for MB. And frankly paid MB with 10l balance does not make any sense
 
Went to Brach, BM was known person. They asked for 5 lakh check and ITR above 40 lakh. And opened the burgundy account. Not sure if that is sufficient to get Burgundy magnus card.
- Called the credit card guy and checked with his manager's manager. He is saying card can be delivered post True burgundy status is achieved. Max he offered me is that I need to maintain a 15L balance in a savings account for at least 45 days instead 90 days and he'll get it approved.

- Said No for FYF and LTF.

@maynigam any success for you ??
 
- Called the credit card guy and checked with his manager's manager. He is saying card can be delivered post True burgundy status is achieved. Max he offered me is that I need to maintain a 15L balance in a savings account for at least 45 days instead 90 days and he'll get it approved.

- Said No for FYF and LTF.

@maynigam any success for you ??
See told you ! Also even if you maintain 15 lakhs for 45 days, there is no guarantee as Axis needs 2 OGS at minimum to establish true burgundy status. Also for less than 30 lakhs NRV, you may need 3 OGS.
 
What is OGS?
I am trying to negotiate LTF M4B with 35L initial funding
One glance statement. Its what Axis generates at end of every month. Unless your Avg balance is above 10 L in this statement, your status will not reflect as true burgundy. You can try for LTF. No point getting this even as FYF. Sit with the BM directly and negotiate. Also take approval in writing on email (from official email ID). REMEMBER - DO NOT TRUST AXIS OR ANY EMPLOYEE AT AXIS WITHOUT WRITTEN PROOF.
 
Sadly I moved my salary account to Axis. This will make things faster. But is it really worth paying 35k as first year fee to buy a car worth 15 lakh ?
For me, the calculations work like this
M4B 10L down payment - 121400 miles
Atlas - 42500 miles

Even after paying the fees, I get double miles! But I don't know if it is worth the effort and if they are going to issue the card to me in time. I need to make the payment on 6th Sept.
 
There are 2 milestone right? 3L and 7.5L. Both will give 2.5k EM.

So 10L would give you 40K base miles+ 10K milestone miles. Assuming you haven't reached any milestone already.
Also you will get 2.5K EM = 5K Miles on renewal as well.
If you have reached 3L milestone then you would get 45k miles + 5k on renewal. If you have reached both 3L and 7.5L then you'll get 50K miles because of 15L milestone. Not sure how you calculated 42.5k miles 🤔
 
Get normal magnus then and pay through it. Its fees would be almost compensated by 12.5k yatra voucher. Once you have m4b you can transfer it for 5:4.
I can try this. I am holding Atlas.
1. I hope I can call up the customer care and ask for Magnus?
2. If I don't receive the card in time, I will not activate it and avoid paying the fees?
3. I will have to pay 35k fees for M4B if they don't give me LTF right?
4. Any conditions to the Yatra coupon?
 
There are 2 milestone right? 3L and 7.5L. Both will give 2.5k EM.

So 10L would give you 40K base miles+ 10K milestone miles. Assuming you haven't reached any milestone already.
Also you will get 2.5K EM = 5K Miles on renewal as well.
If you have reached 3L milestone then you would get 45k miles + 5k on renewal. If you have reached both 3L and 7.5L then you'll get 50K miles because of 15L milestone. Not sure how you calculated 42.5k miles 🤔
You are correct. Currently have 2L spends. So I will get 50K miles and gold status.
 
Get normal magnus then and pay through it. Its fees would be almost compensated by 12.5k yatra voucher. Once you have m4b you can transfer it for 5:4.
As per my re-calculations, Normal Magnus is also more rewarding than Atlas.
My exact amount on CC will come to 9.1L

Atlas gives 46400 miles
Normal Magnus gives 56800 miles (5:2)
M4B will give me 113600 miles. (5:4)

Paying 35k to get 56800 extra miles doesnt make much sense to me. Better keep pushing for LTF/FYF, If they give then okay otherwise normal Magnus is more rewarding!
Please suggest and see if my calculations are correct!
 
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Calculations seem correct.
Are you planning to renew atlas next year? If you are maybe you can consider renewal bonus as well. Renewal benefit is only if you reach gold or above.

Also if you'll spend around 4L more on atlas in remaining year, you'll also get 10k miles. ( Considering you use atlas)
 
Renewal benefit is only if you reach gold or above
Did not take that into consideration!
In haste, I called axis, they said they could not apply for magnus because rekyc was due on some saving account in which I am a joint holder (had completely forgotten about this account). In further FOMO, I applied for magnus on axis bank website, (took a CIBIL hit as well).
Now I'm wondering if this was the right thing to do! May be I should have stuck to Atlas.
I know I have the option of not activating Magnus but I don't know if that will work. Have read many posts of people claiming that they were charged fees despite the fact that they never activated their card and they had to fight a long battle along with negative CIBIL impact due to outstanding joining fees.
I dunno how axis works. Do they send separate statement for both cards? Can they charge me even if I don't activate Magnus?
 
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