Axis Magnus Magnus Burgandy Credit Card Rejected

[lazyme]

Hello everyone,

I previously had an Axis Magnus credit card, which I closed around six months ago. Since then, I’ve been using the Axis Atlas card and have spent over ₹12 lakh. Last month, I opened a Magnus Burgundy account with a deposit of over ₹30 lakh. This month, my Axis Bank RM applied for the Magnus Burgundy credit card on my behalf. However, today I received an SMS stating that my application was rejected due to the bank's credit norms.

We regret to inform you that we are unable to process your Credit Card application as it does not meet the Bank's credit norms - Axis Bank

My CIBIL score is close to 800. Has anyone experienced this before? Any suggestions on how I can get the application approved?

 

[Anupama_Jha]

Hello everyone,

I previously had an Axis Magnus credit card, which I closed around six months ago. Since then, I’ve been using the Axis Atlas card and have spent over ₹12 lakh. Last month, I opened a Magnus Burgundy account with a deposit of over ₹30 lakh. This month, my Axis Bank RM applied for the Magnus Burgundy credit card on my behalf. However, today I received an SMS stating that my application was rejected due to the bank's credit norms.

We regret to inform you that we are unable to process your Credit Card application as it does not meet the Bank's credit norms - Axis Bank

My CIBIL score is close to 800. Has anyone experienced this before? Any suggestions on how I can get the application approved?

Check ur pre-approved cards section and get normal magnus from there. Don't activate it and request RM for upgrade.

 

[uchitshah]

I feel RM applied in hurry
You need to wait atleast 3 to 4 months in Burgundy status and then apply.

Are you aware of the new joining and renewal charges ?

 

[lazyme]

I feel RM applied in hurry
You need to wait atleast 3 to 4 months in Burgundy status and then apply.

Are you aware of the new joining and renewal charges ?

10L is for the AQB. I made a deposit of more than 30L on the account so was eligible within the month he said. I'm aware of the fees and stuff.

 

[uchitshah]

I know the criteria, but you account need to be Burgundy for 3 to 4 months (atleast for a quater) then you can apply for Burgundy Magnus Credit Card.

 

[techstrom007]

10L is for the AQB. I made a deposit of more than 30L on the account so was eligible within the month he said. I'm aware of the fees and stuff.

Your RM tricked you into depositing 30L instead of 10L for burgundy that's all. You still need to wait for 3 complete months before applying.