• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

Axis Magnus My experience with Magnus to Magnus for Burgundy upgrade

bombayduckling

TF Select
VIP Lounge
Warning: this could be very long! Main purpose is to highlight the shoddy systems of Axis where the right hand doesn’t know what the left hand is doing and nobody has any clue about what is happening.
So I have been a Burgundy account holder with Axis Bank for a few years and was of course happy when they emailed me saying that my Magnus Card would be upgraded to LTF Magnus for Burgundy. And so I went and spent 1 lakh in August thinking I would be able to redeem Edge points in 5:4 ratio. My hopes were dashed when shortly afterward, that notorious T&C pdf started floating around wherein they specified the difference between Burgundy and True Burgundy.
I didn’t meet any of the criteria.
However, my BM spoke to someone from the credit card team and they said that basis your substantial demat holdings, you should qualify. Now as you know, there is no mention of demat holdings in the True Burgundy definition. Anyway, I was told to email a copy of my one-glance statement to premium.experience and assured they would do the needful. Which I did on 12 Oct 2023.
Lots of back and forth followed (including cc to BM). This email of mine dated 18 November, on which I cced PNO, summarises my emails.
Pasting the text below:

Dear Premium Experience/ PNO team,

Could I please have an update on this ongoing Magnus upgrade to Magnus for Burgundy issue?

My first interaction on this issue was way back on 12 October.

In your reply, you wrote,
“The request raised with the reference number 231012172979 has now been resolved….
I would like to inform you that we are in need of an additional consent for to be filled from your end for the upgrade to be processed….
Requesting your consent to upgrade your existing Magnus Credit Card to Magnus Burgundy Credit Card.”

I was quite surprised and pleased at the quick resolution and immediately gave my consent.

On October 22, in interaction reference no.
231022652671, you said that “we have initiated an internal communication for credit card upgradation and same will be resolved at the earliest possible time.”

On October 30, I asked for an update and again in interaction reference no. 231031054843, I was requested for more time.

Today, more than a month has passed since my first email. Is this what the Burgundy promise is all about?

I would appreciate it if you could please value my time even if you don’t value my relationship and just give me a simple YES or NO answer.

I don’t want more fake assurances and empty Burgundy promises.

I am once again attaching my latest One Glance statement.

I am also CCing this email to pno@axisbank.com although to be honest, in the past, they have not been of much help either.

Regards,
Noel


As usual, I was asked to wait 3 working days. On 22 Nov evening, I get an SMS:
While we are actively working on resolving your SR no. 231118942791 related to feedback on service experience, we regret it may take longer. Request some more time to share an appropriate resolution

I was so angry that I resolved to close all my accounts the very next day. Then about 3 hours later, I get another SMS saying that my Magnus has been upgraded alongwith the last 4 digits of the new card!
The very next morning, I got the Magnus for Burgundy card!
And because this is Axis, I got an SMS that afternoon saying Delivery of your replace Magnus Burgundy Credit Card no. (hidden) attempted on 23-11-23 by BLUEDART was unsuccessful. With a link to request changes.
Anyway, forgave them this small stupidity and was planning to write a thank you email but decided to wait for them to email me regarding their successful resolution.
Well, today, almost a week later, I get an email in which someone from the PNO team sends me this email (screenshot attached). Please let me know what you think of the response and whether you think they even know I have got the upgrade or not!
 

Attachments

  • IMG_0248.jpeg
    IMG_0248.jpeg
    328.5 KB · Views: 307
Section 1.A: Important changes w.e.f from 1st January, 2024 Q 1. When is the limited period offer for lifetime free Magnus Credit Card for Burgundy getting over? A. The limited period offer for life time free Magnus Credit Card for Burgundy is getting over on 31st December, 2023. Q 2. What is the last date to apply for lifetime free Magnus Credit Card for Burgundy? A. All Burgundy customers who have opened or up-migrated to Burgundy account on or before 31st December, 2023 and maintaining the requisite ‘Burgundy Relationship Eligibility Criteria’ (ref. section 1.B) can apply for or upgrade to lifetime free Magnus Credit Card for Burgundy till 31st January, 2024. Any application for new or upgrade to Magnus Credit Card for Burgundy received after 31st January, 2024 will incur a joining and annual fee of Rs. 30,000 + GST Q 3. I have opened/up-migrated my account to Burgundy on 10th January, 2024. Can I apply for Lifetime Free Magnus Burgundy Credit Card? A. No, LTF Magnus Burgundy Credit Card is applicable only for customers who have opened or up-migrated their account to Burgundy on or before 31st Dec’23 subject to the requisite ‘Burgundy Relationship Eligibility Criteria’ is reflecting in December, 2023 One Glance Statement.
I feel that they should have kept this as a feature of burgundy account. People are opening for burgundy just to get free card so axis is getting net benefits only. this is improving their deposits only. BUT axis is axis only.
 
I feel that they should have kept this as a feature of burgundy account. People are opening for burgundy just to get free card so axis is getting net benefits only. this is improving their deposits only. BUT axis is axis only.
It depends on bro, like I have had IDFC wealth account, but I never got any benefits from that after landing so much of money, or even with HDFC imperia, this is in fact a good offering they had for people opening burgundy, because most of the banks do not consider nrv for credit cards. And this is a good product m4b despite devaluation 5;4 ratio is good.
 
no they think people are fools and hyponetized by magnus and axis and will pay 30k for futire rewards and show off . And trust me many will even pay this. What is 30k fees vs 30 lc FD
30L ,FD@7%:: 10%TDS, 30k Fee M4B ==> Effective Rate 5.3%.
Defeating the purpose of fd or inflation counter.
 
Back
Top