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Axis Magnus Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)
- Thread starter shibili
- Start date
11th September, new magnus detail should be surfaced by then.
The fees are waived for those existing Magnus holders who have already paid the joining or renewal fee less than 12 months back.
These old Magnus holders will apparently get a new Magnus card linked to the Burgundy account with 5:4 conversion ratio after 11th or 15 September, subject to their acceptance of the terms and conditions.
5 days after opening a Burgundy account you will get SMS with a link to confirm your acceptance of the terms and conditions
Yeah Burgundy Mangnus to be announced by 11 Sep...waiting for their official announcement on fee waiver as they have clearly mentioned the welcome benefit of 5000 voucher for special offering (whereas for normal offering they are providing the 10000 voucher)..
That clarity is what has been awaiting from Axis, neither their RMs or the BM has any update on the fee waiver clause mentioned abruptly in above tweet
It is not a lifelong fee waiver ..
it is just that Axis will not charge you again for the new Magnus card linked to Burgundy, because you already paid the renewal fee of the old Magnus card.
Magnus card is not a free card, there will always be annual renewal fees
from what i have read, existing magnus & burgundy holder from 11th September onward, point earned and redemption would be 5:4. but let wait till 15th September cause axis would to replace their existing burgundy and magnus holder card with new magnus+ card too.. so let wait and watch.. and people looking to open to get magnus through burgundy they would get a clarity whether to open burgundy account for the sake for LTF magnus.. if that case it turned out to be.
My renewal is on 15th, I hope they convert it before that, otherwise 11800 loss
.Yesterday, had a call with one pno, he said like 3rd week of September.
Yes, because now you will not even get the 10000 Tata cliq voucher on paying the renewal fee.My renewal is on 15th, I hope they convert it before that, otherwise 11800 loss
Yesterday, had a call with one pno, he said like 3rd week of September.
the last date for that was 31 August
yeah i know i did read earlier post..why you had to pay the fees or would need to considering fees cause of you did spend 1 lakhs and it ER will be credited later on.. pay the fees cause there seem no clarity and later once you transferred the ER, and if thing reside in term of Burgundy customer get magnus+ free or something like that.. then do try to reverse the annual fees if possible only you had maintain burgundy account 10 AMB criteria.
My renewal is on 15th, I hope they convert it before that, otherwise 11800 loss
Yesterday, had a call with one pno, he said like 3rd week of September.
Yeah, that's the plan
If he is waiting for 25000 edge points in November then he had better pay the fees and not cancel the card, otherwise the 25000 points will also go to waste.
However, there is no such thing as reversal of fees for Magnus even if he is a Burgundy account holder.
mojo_jojo123
TF Ace
did you got any offer ? there was some suprise 5k offer also right ? what was that .. also what hapeens now to your existing magnus
drabhishekladdha
TF Select
True, my RM called and told me they had a conference call update on magnus and it will told to all that magnus offical announcement will come in 3rd week of September ( or before ) and this burgundy magnus will be issued on mastercard varient and will replace select as life time free card for burgundyMy renewal is on 15th, I hope they convert it before that, otherwise 11800 loss
Yesterday, had a call with one pno, he said like 3rd week of September.
drabhishekladdha
TF Select
Also 5k vocher is applicable for all and burgundy get it for free
mojo_jojo123
TF Ace
so shall we open burgundy now or wait ?
shashank08
TF Premier
Considering track record of Axis, better to wait till further clarity..
if offer comes then it will not be something like a day or two kind of offer..
Most probably people will get time to open the Burgundy account and avail that offer whenever clarity about Magnus+Burgundy will arrive..
drabhishekladdha
TF Select
If you don't have it already , I would suggest you wait until you have clreaity about it. Again I would emphasize that opening burgundy for magnus makes no sense , unless you spend 3L every month on magnus . It makes sense only if you have burgundy salary,or your family has cumulative FD of 30L
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