Axis Magnus Credit Card Review

[drshenoy]

@drshenoy In how many days you got your card approved after applying.

i think it was 1 week. even my friend to got in 1 week

 

[CreditcardUser_001]

Has anyone tried paying ICICI cc using BharNxt, as when I am trying I get error that invalid account number (Used CC number in account number)

 

[drshenoy]

@drshenoy In how many days you got your card approved after applying.

i think 1 week

 

[ujjawal]

Has anyone tried paying ICICI cc using BharNxt, as when I am trying I get error that invalid account number (Used CC number in account number)

Icici doesn't accept IMPS while bharNxt uses IMPS for account verification so you won't be able to pay icici bill.
Also following banks bill pay won't work.
1. Sbi
2. BoB
3. RBL
4. AUBank

 

[CreditcardUser_001]

Icici doesn't accept IMPS while bharNxt uses IMPS for account verification so you won't be able to pay icici bill.
Also following banks bill pay won't work.
1. Sbi
2. BoB
3. RBL
4. AUBank

Thanks for the update

 

[Maxwell]

Icici doesn't accept IMPS while bharNxt uses IMPS for account verification so you won't be able to pay icici bill.
Also following banks bill pay won't work.
1. Sbi
2. BoB
3. RBL
4. AUBank

Unable to pay Axis CC on Bharatnxt due to technical error. Any work around

 

[ujjawal]

Unable to pay Axis CC on Bharatnxt due to technical error. Any work around

You can try tomorrow

 

[saucy]

So after deval, the only thing that changes is -- now you need an extra Burgundy account to utilise these befenits. Yes?

 

[Arun Pratheep]

So after deval, the only thing that changes is -- now you need an extra Burgundy account to utilise these befenits. Yes?

Also monthly bonus is removed even for Burgundy users

 

[PlayStation DX]

Also monthly bonus is removed even for Burgundy users

Yes

 

[DevD]

Also monthly bonus is removed even for Burgundy users

Burgundy users can only transfer points to miles at 5:4 ratios. NO additional benefits.

 

[deepcards]

I think if one spends a lot on travel, having a Burgundy + Magnus still makes sense, as it can 60 edge points on 200 Rs. on the travel edge portal. I have some monthly travel expenses for the next 1 year, can someone confirm whats the value of each edge point if one books directly from travel edge? Otherwise the rewards comes out to be around 19.2%, assuming i convert them to Club Vistara and each CV point is approx 80 paisa.

 

[DevD]

I think if one spends a lot on travel, having a Burgundy + Magnus still makes sense, as it can 60 edge points on 200 Rs. on the travel edge portal. I have some monthly travel expenses for the next 1 year, can someone confirm whats the value of each edge point if one books directly from travel edge? Otherwise the rewards comes out to be around 19.2%, assuming i convert them to Club Vistara and each CV point is approx 80 paisa.

What is the MAB of burgundy account ? initial funding amount ?

 

[deepcards]

What is the MAB of burgundy account ? initial funding amount ?

I thisnk it's 10L, but i will probably shift my salary account there, then i believe its 0.

 

[vina]

What is the MAB of burgundy account ? initial funding amount ?

10L in savings; 30L in FD; 0 if your salary comes to that (though min salary is I think 3L for that)

 

[vina]

What is the MAB of burgundy account ? initial funding amount ?

If you are not getting Burgundy and already have Infinia, then forget about Magnus

If you can't get Burgundy without the MAB - I would still recommend you forget about Magnus (very likely) and perhaps get an Amex Platinum instead (or even Amex Gold)

getting Burgundy with MAB will cost you about 40k in pre-tax interest (FD vs savings' I wont even go into stock market average returns and other higher risk options; also taxes reduce this amount) For an average 2% difference between Infinia and Magnus, for you to recover it, you need to spend 20lakhs ! Of course reality is a bit different - if you exhaust the 1.8lakhs reward points (or rather 15k per month) regularly on Infinia - then the difference specially on travel will be 25% or so - and in that case "merely" 1.6L of such overflow purchases on Magnus will benefit you the enough to break even.

The question is - is that worth it? For me the answer is - I got Burgundy without MAB and Magnus will renew this year for free. I'll probably cancel it next year (unless of course Infinia revalues again) and probably get Amex Platinum/Gold depending on my needs at that time.

 

[deepcards]

If you are not getting Burgundy and already have Infinia, then forget about Magnus

If you can't get Burgundy without the MAB - I would still recommend you forget about Magnus (very likely) and perhaps get an Amex Platinum instead (or even Amex Gold)

getting Burgundy with MAB will cost you about 40k in pre-tax interest (FD vs savings' I wont even go into stock market average returns and other higher risk options; also taxes reduce this amount) For an average 2% difference between Infinia and Magnus, for you to recover it, you need to spend 20lakhs ! Of course reality is a bit different - if you exhaust the 1.8lakhs reward points (or rather 15k per month) regularly on Infinia - then the difference specially on travel will be 25% or so - and in that case "merely" 1.6L of such overflow purchases on Magnus will benefit you the enough to break even.

The question is - is that worth it? For me the answer is - I got Burgundy without MAB and Magnus will renew this year for free. I'll probably cancel it next year (unless of course Infinia revalues again) and probably get Amex Platinum/Gold depending on my needs at that time.

how did you get Burgundy without MAB ? Salary account? or something else?