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

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)

Apply For Lifetime Free IDFC First Credit Card
Sort by date Sort by votes
drsel said:
That would be logical, because they have to earn something somewhere or the other.
They are in business to make money out of you, not to do social service
Click to expand...
I know they need to earn as well ....

but saying zero markup fee and taking a hidden markup in exchange rate is not good either .....
 
Upvote 0 Downvote
bikramnitj said:
New to the forum, but I would like to update you all on my conversation around Burgandy. The RM confirmed that the old Magnus will be replaced by new Magnus which will be LTF for Burgandy. The sales folks have confirmation they are just waiting for a product code to initiate that account opening process. So basically it’s mostly confirmed yet not operational..
Click to expand...
Does they provide any timeline for the same.
 
Upvote 0 Downvote
vaibhav111 said:
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.
Click to expand...
Lol I don't know if they got confused or what, but today I see joining fee and gst reversal in my card, which was charged last year in September.

Today is my renewal date and I was supposed to get charged for another 11800, but instead I have been reversed last year's joining fee 😅.

I had sent a reminder to MD desk last week (after one month) and this time I got a response that they are working on it. I think they got confused that I am asking to waive renewal fee and instead they waived off joining fee. Or maybe RBI Ombudsman Complaint was also there.

Let's see if they still charge renewal fee in 1-2 days or not. But at least I have got it back in another form. So I am done for now😁.

Now I can patiently wait for 1-2 month also for Magnus burgundy announcement 🤣, as I don't have immediate transfer requirements.
 
Upvote 0 Downvote
srihari1977 said:
Just shows how much of a farce premium banking is in India.
Click to expand...
well if it isnt profitable the bank wouldn't get to invested in this
50-70% of banks prfoits come from retail segment loans.might be higher for other banks
and premium banking is usually catered by the likes of dbs hsbc scb and citi before.
they had higher nrv requirements and the infrastructure was already there with them from other country operations
due to that everything was smooth
now for an Indian pvt bank that is miniting money selling home or car loans to the retail ,its infra will also be in accordance to something of that level itself
 
Upvote 0 Downvote
You must log in or register to reply here.

Similar threads

bugmenot
  • Question Question
Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.
422 423 424
Replies
8K
Views
672K
miles_guy
M
Back
Top