Axis Magnus Magnus closure, retention offer and alternatives

[maynigam]

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!

 

[Quiksilver27]

Did you claim 10k ER for retention before devaluation as well?

Yes and for that reason they have not credited the points this time inspite of making an SR for the same.. was trying my luck anyways🤣

 

[ccdc]

i called recently and they just closed...no retention.

 

[agrawalshishir]

I hv over spent their threshold so it is automatically fee waiver, should i still call n close n not renew to get 10000 er

 

[maynigam]

I hv over spent their threshold so it is automatically fee waiver, should i still call n close n not renew to get 10000 er

No. You can just tell them that you want bonus edge rewards in view of devaluation. They will give

 

[Deleted member 9785]

Any retenion bonus now a days?

 

[m4b]

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.

Princess Magnus
A tale of passion, obsession and destruction​

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.

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.

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) and wants to fly.

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.

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.

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.

Good story! Now get back

 

[PallavBhargava]

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.

Princess Magnus
A tale of passion, obsession and destruction​

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.

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.

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) and wants to fly.

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.

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.

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.

Awesome writing...and greatly summarized..

 

[HumorSimpson]

Awesome writing...and greatly summarized..

Thanks for acknowledging .

 

[avikrish]

Once a card is closed with axis, do they create problems in issuing another axis card in near future?

cooling period varies from bank to bank on average 6-12 months after only you can aplly cc from closed bank

 

[diptarkaroy]

Axis Atlas - however that will not be LTF.
Why ICICI card? except Sapphiro & amzon pay, I believe all other ICICI cards are useless.

Even Sapphiro is useless after the recent devaluation!!!!

 

[avikrish]

Even Sapphiro is useless after the recent devaluation!!!!

Now icici cards are only useful for 10% instant discount during offers and sales time

 

[kuchbhi]

Even Sapphiro is useless after the recent devaluation!!!!

ab har thread mai icici ki badnami chalu hai