Axis Magnus Query regarding Magnus Renewal date and cancellation timeframe

[navam]

My renewal for magnus is coming up soon and given axis has weird and interesting policies wanted to check with the community about the following -

1. I see that I was charged my joining fee on 29th August 2022, so is the expectation here that I would be charged the renewal on 29th only or will it somehow be moved to beginning of month or something?
2. Can I cancel the card anytime before 29th August or do they have like a X week processing time so If I want to cancel I must do it X weeks before.
3. For the yearly milestone (15 lk for now) do they keep adding all the way till 29th August or I would have to achieve it before?

PS: the customer service guy got confused with the questions and hung up the phone lol... Sooo lmk if you understand how this thing works 🙂

 

[V G]

I think since the change is effective from 1st Sep, you will be charged 10000 plus GST and you will also receive renewal bonus - Tata Cliq voucher of 10K or Flight ticket. Other members to confirm.
Whether continue or not, now depends on you. Call to customer care to check renewal date. I think it will be few days before the 29th Aug as joining fees is charged on the date of activation of credit card. Renewal fees is charged on the date of issuance of credit card after one year.

 

[Deleted member 11974]

1.Joining fee will be levied on 29th august if i am not wrong
2.cancel it atleast 2-3 buisness days before 29th so that they have time to cancel it.
3.They will consider milestone until 29th august
4.Yes you will receive renewal benefit but do not tata cliq gold hack has been patched

 

[navam]

" For customers onboarded before 1
st September 2023, annual fee waiver will be applicable on
cumulative spends of INR 15,00,000 in preceding card anniversary year. However, for such
customers, on card anniversary dates after 1
st September 2024, fee waiver will be applicable
on cumulative spends of INR 25,00,000 in preceding card anniversary year. "

Was just re-reading the tnc and ran into the line and am curious what the community makes of this (since customer support and Jon snow are the same...)
So it means this year my fee waiver cumulative spend is 15lk but (given the next renewal date is on 29 August 2024) the fee waiver will be again on 15lk as it's before 1st sep 2024?
So people with renewal before the new tnc come into play are gonna have another year of 15lk renewal fee waiver :O

 

[Himanshu Rathi]

My renewal for magnus is coming up soon and given axis has weird and interesting policies wanted to check with the community about the following -

1. I see that I was charged my joining fee on 29th August 2022, so is the expectation here that I would be charged the renewal on 29th only or will it somehow be moved to beginning of month or something?
2. Can I cancel the card anytime before 29th August or do they have like a X week processing time so If I want to cancel I must do it X weeks before.
3. For the yearly milestone (15 lk for now) do they keep adding all the way till 29th August or I would have to achieve it before?

PS: the customer service guy got confused with the questions and hung up the phone lol... Sooo lmk if you understand how this thing works 🙂

You can waive your annual fee even after 29th August if you wish to cancel the card. You just need to make sure that you haven't done any transactions on the card after the annual fee is charged to your account.

 

[navam]

You can waive your annual fee even after 29th August if you wish to cancel the card. You just need to make sure that you haven't done any transactions on the card after the annual fee is charged to your account.

I did not know that, thanks!