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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
Ya they are clueless. During each call, different executive will tell you a different thing. And I do not hold them responsible. Their top management is so confused so obviously employees will be. The human bias on even factual things is so evident. For example during the past two weeks, three executives on a simple question of my expenditure during the current calendar year on Select Credit Card have confirmed different figures to me and the variation is not small, it is 40-50K.
I have found HDFC Infinia customer care executives (or rather HDFC premier service executives) to be very professional. I would even rate them higher than Amex. They are very responsive and specific, even on queries asked through emails.
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Aryan Malhotra
TF Select
Yes its the fault of senior department, they should learn how to handle customers from HDFC
Think the men on top are confused with no clarity of thought. And imagine they must be having an enviable pay package to cook this mess for the customers. Its actually so surprising that bank did so well for so many years.
i would say it is more fault of top mgmnt & product team for not communicating clearly to customer care guys.. even after 14 page faq they have left scope for confusion
. Why blame the Product team? If management feels that Product team isn’t clear as to what they are doing then fire them.
aur kitna time and energy waste karoge axis pe. its over
I think that's the main purpose otherwise why would anybody need Magnus now. Its a gone case... Once Upon a Time types.
No closure fee. Though one can never be sure with Axis if they issue new T&C with all points contradicting with each other.
I was going through the T&C once again and found so many points where Axis purposely left the ambiguity. For example, for conversion/upgrade please refer Section 2.1.1 Q1 and Q2. Both scenarios can be interpreted the way you desire. Both are reproduced below:-
Q 1. I am an existing Burgundy customer holding a Magnus Credit Card. When can I upgrade to my new Magnus Credit Card for Burgundy?
A. Existing Burgundy customers who are maintaining the requisite Burgundy relationship with Axis Bank & holding existing Magnus Credit Card will have to call on 1800 419 0065 & give their consent to upgrade to new Magnus Credit Card for Burgundy. Once the consent for upgrade is given by the customer, the existing MAGNUS Credit Card will then be upgraded to new Magnus Credit Card for Burgundy and a new card will be dispatched to the customer. All existing EDGE Reward Points will be transferred to the new MAGNUS Credit Card.
Q 2. I am an existing Burgundy customer holding a Magnus Credit Card and maintaining requisite Burgundy relationship with the bank. Still, I have not received any communication to upgrade my Magnus Credit Card.
A. If you are maintaining the requisite Burgundy ‘Total Relationship Value' Criteria (refer Section 1.) with the bank, you may reach out to 1800 419 0065 to check your eligibility after 45 days of maintaining the requisite Burgundy ‘Total Relationship Value' Criteria.
In Q1 they only refer to "maintaining the requisite Burgundy relationship" whereas in scenario 2 they want you to maintain "Total Relationship Value". First includes Pay & AQB whereas second is 30L clause.
Q 1. I am an existing Burgundy customer holding a Magnus Credit Card. When can I upgrade to my new Magnus Credit Card for Burgundy?
A. Existing Burgundy customers who are maintaining the requisite Burgundy relationship with Axis Bank & holding existing Magnus Credit Card will have to call on 1800 419 0065 & give their consent to upgrade to new Magnus Credit Card for Burgundy. Once the consent for upgrade is given by the customer, the existing MAGNUS Credit Card will then be upgraded to new Magnus Credit Card for Burgundy and a new card will be dispatched to the customer. All existing EDGE Reward Points will be transferred to the new MAGNUS Credit Card.
Q 2. I am an existing Burgundy customer holding a Magnus Credit Card and maintaining requisite Burgundy relationship with the bank. Still, I have not received any communication to upgrade my Magnus Credit Card.
A. If you are maintaining the requisite Burgundy ‘Total Relationship Value' Criteria (refer Section 1.) with the bank, you may reach out to 1800 419 0065 to check your eligibility after 45 days of maintaining the requisite Burgundy ‘Total Relationship Value' Criteria.
In Q1 they only refer to "maintaining the requisite Burgundy relationship" whereas in scenario 2 they want you to maintain "Total Relationship Value". First includes Pay & AQB whereas second is 30L clause.
No clarity among themselves!
Has anyone with burgundy account and without holding a previously issued Magnus card been able to apply for Magnus Burgundy based on 10L in savings account?
drsel
TF Prestige
That is possible if you have held at 10 lacs already for 90 days and the one glance statement shows the average quarterly balance is 10 lakhs
those who opened Burgundy after 1st July by depositing only 10 lacs, will not have 10 lakhs average quarterly balance right now.
They have to wait a total of 90 days from the date of opening
alternately they can deposit a huge amount to boost the average quarterly balance quickly before the deadline of 30 November.
But it is much simpler and easier to open a 30 like term deposit and keep on renewing it as long as you want to keep on holding the Magnus for burgundy card
AS per pdf "Newly opened / upgraded Burgundy account holders will be required to build their requisite total relationship value required to maintain the Burgundy relationship with Axis Bank. As soon as the requisite relationship is depicting in the latest One Glance Statement,"
This doesnt talk about quarterly TRV but the TRV being depicted on One Glance statement. The one glance statement doesnt show quarterly TRV, it shows TRV on last date of statement generation and monthly average TRV. So I guess fresh Magnus can be applied as soon as either of those conditions is met and not the quarterly TRV.
