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Axis Magnus Magnus closure, retention offer and alternatives

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maynigam

maynigam

TF Premier
Hello guys.

I started my Magnus journey in Feb 2023 and used it to the fullest but it is time to bid farewell as I have only crossed 9.5 lakhs in the past year and I am nowhere near renewal fees waiver criteria. Since I don't hold burgundy status, the card will not hold much value for me next year.
I have the following questions before I close my magnus.

1. What is the easiest way to close and what is the ideal time to close it? Should I wait for the renewal fees to be posted in my statement or call customer care before completing a year?
2. Do they offer any retention offers when you call them? Is it worth?
3. I am looking at ICICI Emerald Private metal card as my alternative to this card. Can someone guide me how to obtain this card?

Thanks.

P.S. I recently completed my Singapore trip where my hotel and dining worth more than 2.5 lakhs in a 5 star property was covered by edge rewards. So I'm satisfied with my experience!
 
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maynigam said:
Hello guys.

I started my Magnus journey in Feb 2023 and used it to the fullest but it is time to bid farewell as I have only crossed 9.5 lakhs in the past year and I am nowhere near renewal fees waiver criteria. Since I don't hold burgundy status, the card will not hold much value for me next year.
I have the following questions before I close my magnus.

1. What is the easiest way to close and what is the ideal time to close it? Should I wait for the renewal fees to be posted in my statement or call customer care before completing a year?
2. Do they offer any retention offers when you call them? Is it worth?
3. I am looking at ICICI Emerald Private metal card as my alternative to this card. Can someone guide me how to obtain this card?

Thanks.

P.S. I recently completed my Singapore trip where my hotel and dining worth more than 2.5 lakhs in a 5 star property was covered by edge rewards. So I'm satisfied with my experience!
Click to expand...
For Emerald Private metal u must have private account with them... And some connections..


Else not possible even u have decent amount of Fd's ...

@Tejo @jack333
 
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techt said:
Every day there is a new thread on Magnus.

I was never interested in any of those super 'prem' cards as its a big mental load on me in earning and burning before expiry of points.
Still for a fellow Finto* I will try to help you by getting to the root of the issue by whatever the information I have gathered on these forums.

Let's analyze from the start.

Chapter 1 : The Genesis of Magnus
The saga of Magnus starts like a fairy tale. Oh No !!! fairy tales have happy endings.
Let us just say it starts like a Shakespeare's love drama.
romeoandjulietcoverimage-300x182.png

Like a typical love story that we have been listening for generations be in the west or in our India, the tale starts with a street urchin (awara or poor kid) as a hero wooing a princess in secrecy from her father.
princess-jasmine.gif

Affair with princess Magnus is a financially draining one. The hero has to shell ~1.5L INR (monthly milestone) a month to meet her needs. Occasionally she needs pampering in 5 star hotels like Taj/Marriot (edge rewards redemption).
whole-new-world-aladdin.gif



In the first year, the hero some how managed meeting her expectations(FYF criteria) by pawning his possessions or money rotation. In the second year, when the hero is making plans for money, as the fate had it gets caught by the princess' father(Axis mails to justify txns). Lo ... the angry father who thinks the hero is not a suitable match to the princess separates them (devaluation).


Chapter 2 : Peaks of Obsession
The obsession for Magnus was so high that eligible bachelors wanted to marry Axis RMs demanding Magnus for dowry. Some even planned their destination weddings, honeymoon etc on Magnus for reward points.
0R3038.gif

As the Magnus obsession was going beyond anyone's control it had to be stopped for the sake country's sovereign security. The card was deemed a threat as someone in sensible positions might get honey trapped into it.


Chapter 3 : Getting out
Now coming to your question ...
Even though the story was same the fate of hero was different based on their mentality. These heroes could be grouped to 3 categories.
One - who moved on finding love in some other prem cards like Infinia. Heard that they still miss Bargundy and occasionally keep looking at it in deep thoughts. Seems this category is majority.
Two - who vowed celibacy (Brahmacharya Oath) of credit cards and not to use any cc in their life at all. This category is extreme minority.

IMG_20200415_132655_compress7.jpg

Three - who still keep fighting and finding ways to get one.


Now the answer ...
You should move on like category one people. Support groups help in overcoming grief. May be BBPS (Burgundy Bhagna Premika Sangham - Burgundy Failed Lovers Society) or BaBu (Badhitha's of Burgundy - Victim's of Burgundy) societies are needed for this. Even if anyone is getting Magnus for Bargundy or whatever, be reminded the chameleon changes its color every quarter.



Appendix : Parting Poem
Saturday tharuvatha Sunday
Vesavilo yendalu manday
jeevitanni nasanam chesedi Burgunday

Poor translation/adaption of above :
After Saturday it's Sunday,
the next day is Monday,
financially destructing CC is Burganday.



Disclaimer : Truth is slightly exaggerated and may coincide with some. No offence meant to anyone.

Finto : TechnoFINO member.
Click to expand...
Ultimate bro awesome explanation 👏👏👏
 
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gabu said:
Don't wait for annual fees to be charged coz any txn after that and you have to pay full annual fees.
Without milestone/burgundy atlas/infinia/dcb are better than magnus.
Click to expand...
Nothing like that.. for me fees was levied and post which I escalated and got the 100% waiver...
 
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maynigam said:
Lolz. I like the explanation, But I cannot manage Burgundy. I will look into Atlas. Already have Amex Trifecta but returns are not that lucrative.
ICICI Emeralde Private seems like a good card
Click to expand...
You can check yes reserve card with subscription that card beats other super premium cards as well
 
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I have Burgundy and had more than 13L spends on Magnus in 4-5 months.

Called to close it and they did not even once try to retain me. They might have offered the 10K points but I never asked and it was pretty worthless considering the 5:2 ratio I was getting.

For a Burgundy Magnus or 5:4 ratio, you need 30L NRV, 1Cr demat, or salary credit of 3L per month. You will NOT get Burgundy Magnus for measly 10L in Savings account.
 
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techt said:
Saturday tharuvatha Sunday
Vesavilo yendalu manday
jeevitanni nasanam chesedi Burgunday

Poor translation/adaption of above :
After Saturday it's Sunday,
the next day is Monday,
financially destructing CC is Burganday.
Click to expand...

First of all, very well put... by the Kavi @techt 🫡

Kavi bhavana marindeti chepma ??🤔
 
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S S V said:
First of all, very well put... by the Kavi @techt 🫡

Kavi bhavana marindeti chepma ??🤔
Click to expand...
For the sake of rhyming I had to compromise and I have said thats a poor translation.

You sounded like that guy, who after reading that lengthy mail all he asked is why Annamalai is spelt Unnamalai. Oh!!! wait !!! that guy was me.😵
 
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techt said:
For the sake of rhyming I had to compromise and I have said thats a poor translation.

You sounded like that guy, who after reading that lengthy mail all he asked is why Annamalai is spelt Unnamalai. Oh!!! wait !!! that guy was me.😵
Click to expand...
S S V said:
First of all, very well put... by the Kavi @techt
Click to expand...


For that exact reason, I acknowledged the content first ,
unlike in the case of Annamalai!! 😉

Anyway, Kavi Bhavana emaina undemo ani..
Kavi uddeshyam rhyming ikkada.
Let's move on .
Just to add some fun kavi garu..
Once again very well put, not everyone will have that skill..
 
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S S V said:
For that exact reason, I acknowledged the content first ,
unlike in the case of Annamalai!! 😉

Anyway, Kavi Bhavana emaina undemo ani..
Kavi uddeshyam rhyming ikkada.
Let's move on .
Just to add some fun kavi garu..
Once again very well put, not everyone will have that skill..
Click to expand...
I was being sarcastic and I was joking about my situation in Annamalai. I didn't mean any disrespect in any regards.
With all the devaluation, only thing left is making fun of those cards.
 
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