Axis Magnus | 1 lakh spend on same merchant/shop every month

[mynameisusername]

Hi

If I spend 1 lakh every month on same shop/merchant using axis magnus, would it be red flag?


Thanks

 

[anirban.choudhuryanirban.choudhury is verified member.]

Hi

If I spend 1 lakh every month on same shop/merchant using axis magnus, would it be red flag?


Thanks

May be
This are completely on bank discretion , no one can give a definite Answer . If same shop is getting used every month , bank can mark this as money rotation and cancel your card

 

[purush]

Definitely a Red flag.

 

[vysakh]

Yes

 

[NOOBY]

Hi

If I spend 1 lakh every month on same shop/merchant using axis magnus, would it be red flag?


Thanks

its indeed a red flag but it also depends on how you can explain yourself..... if its something like rent/item that you buy for your own (or for your shop, you being single owner) then it should be fine

I dont think Banks would block some shopkeeper from buying his items in bulk via CC (The only risk being, they may block your card and ask you to get Business CCs)

 

[Teja Bhai]

Hi

If I spend 1 lakh every month on same shop/merchant using axis magnus, would it be red flag?


Thanks

For sure it is...
Don't do it..

 

[drvikas231]

You can still do it every month but remember to pay it back before your bill generation date.