Axis Bank has recently started accepting applications for its new Magnus Credit Card for Burgundy customers. The bank has sent out emails to inform eligible customers of this exciting opportunity. If you qualify, you can apply for this credit card which comes with numerous features and benefits. With the New Axis Bank Magnus Credit Card, you can earn 4 partner miles/points for every 5 EDGE Reward Points, which is an upgrade from the previous card.
This exclusive and premium card is most suited for high-income individuals with a taste for luxury and opulence. This card offers a 24/7 concierge service and discounts on dining, health, and wellness benefits, making it perfect for those seeking the best.
Read on more to know all the features, benefits and eligibility criteria for the New Axis Bank Magnus Credit Card for Burgundy.
Difference Between the New Magnus Credit Card for Burgundy and the Magnus Credit Card?
Let’s start by looking at the differences between the new and old Magnus Credit Card.
|New Magnus for Burgundy Credit Card||Magnus Credit Card|
|Miles Conversion Ratio||4 Partner Miles Against 5 EDGE Reward Points||2 Partner Miles Against 5 EDGE Reward Points|
|Capping||Up to 10 Lakh EDGE Reward Points||Up to 5 Lakh EDGE Reward Points|
NEW Axis Bank Magnus Credit Card for Burgundy Features
Here are the features of the New Magnus Credit Card-
There are no joining fees while applying or upgrading to the New Axis Bank Magnus Credit Card for Burgundy. Please keep in mind that this is a limited-time period offer only.
The offer period shall end on 30th November 2023.
Welcome Benefit for the New Axis Bank Magnus Credit Card
New cardholders of the Magnus Credit Card will be eligible for welcome benefits worth Rs. 5000. They can choose from the ones given below-
- Luxe Gift Card,
- One-way domestic flight ticket,
- PostCard hotels gift voucher.
You would need to make a successful transaction within the first 30 days of card issues to avail of the welcome benefit offer. Existing Magnus Credit Card holders will not be eligible for the above-mentioned welcome benefits if they upgrade their card.
EDGE Reward Structure for the New Magnus Credit Card for Burgundy
The reward structure for the new card shall remain the same as the previous Magnus Credit Card.
- 12 EDGE Reward points for every spend of Rs. 200 up to Rs. 1.5 lakh and 35 EDGE Reward points on incremental spends above Rs. 1.5 lakh.
- Wallet loads, cash withdrawals, rental payments above Rs. 50,000 and EMI transactions are excluded from the Rs. 1.5 lakh spend threshold.
- 5X EGDGE Reward points on spends via the Travel EDGE portal.
Quick Glance at Other Benefits-
- Unlimited domestic and international lounge access.
- BOGO on movies/non-movies through BookMyShow up to Rs. 500.
- With the Magnus Credit Card, you get 24*7 Concierge Service.
- Complimentary priority pass.
Have a look at the most frequently asked questions about the New Magnus Credit Card for Burgundy.
Eligibility for the New Axis Bank Magnus Credit Card for Burgundy
A few conditions must be met to upgrade or apply for the New Axis Bank Magnus Credit Card for Burgundy. Here are the eligibility criteria for the Magnus Card-
- One must be a Burgundy account holder,
- Maintain an average quarterly balance of Rs. 10 lakh across savings and current accounts. OR,
- All Burgundy account holders must complete the ‘Total Relationship Value’* metric. This would include maintenance of Rs. 30 lakh balance in your savings and current accounts. OR,
- You can also maintain Rs. 1 crore across your savings account, current account and demat holdings to fulfil ‘Total Relationship Value’. OR,
- In the case of salaried employees, you must be receiving at least Rs. 3 lakh monthly in your Axis Bank Salary Account.
- To be eligible for this card, NRI must have received Rs. 40 lakh through wire transfer as a foreign inward remittance.
- Please note that in order to qualify for the New Magnus Credit Card, you must meet the Total Relationship Value requirements at your individual customer ID level. This means that only your individual customer ID will be considered, not your family ID.
For ‘Total Relationship Value’ (TRV) at individual Customer ID level-
- Savings Accounts & Current Accounts include Term Deposits, Recurring Deposits and/or Investment Relationships.
- Investment Relationship includes Mutual Funds, Life Insurance, Private Equity Funds, Structured Products, Discretionary Portfolio Management Service, Non-Discretionary Portfolio Management Service, RBI Bonds, PPF, NPS and other Alternate Assets
Read More: Axis Bank to Issue New Magnus Credit Cards to Burgundy
The New Axis Bank Magnus Credit Card for Burgundy comes packed with so many benefits. This is a great credit card for Burgundy customers. Whether it is accelerated reward points, domestic or international lounge access, or BOGO offers on movies, this card provides it all.
Take advantage of this new offer and apply for the Magnus Credit Card for Burgundy now at zero joining fees for a limited period of time.