Axis Magnus : Optimal Usage Guide and Valuation

Axis Magnus is undoubtedly the hot cake in the credit card community now. Everyone is jumping for it just because they just don't want to miss out. There are people who also are thinking if it's the right card for them or not as their spending is not at the higher end. This article is going to be useful for them as well as who're already holding this card but haven't made a proper spending calculations and value calculations.




First Let's talk about what are the features that make Magnus the best card out there in overall manner.

Sweet Spots:

1. Flat 4.8% reward rate
2. 25K bonus Edge RP on monthly ₹1L milestone, boost return to 24.8%
3. 5x RP on Travel Edge, Gift Edge with no cap on bonus RP
4. Markup is 2% + GST. Only useful if hitting ₹1L spending milestone in a calendar month.

Now the 3 Categories of People are:

1. Category 1: ₹12L to 15L of spending per annum

2. Category 2: ₹7L to ₹11L of spending per annum

3. Category 3: ₹4L to ₹6L of spending per annum

For all the 3 Categories you can identify yourself to which you do belong & thus you know where you do spend. Thus not going category wise spending.

Rather what I’m elaborating is where you can earn more and how much is the valueback even if you pay both the joining & annual fee


Category 1:

With ₹12L-15L of spending you’re paying joining fee as well as annual fee unless you’re hitting ₹15L annual spends.

Assuming that you’re hitting 1L milestone for at least 10 months.

Total milestone RP: 25K * 10 = 2.5L RP

For 12L Spends: 6K * 12 = 72K RP

For ₹15L Spends: 6K * 15 = 90K RP

Total RP Gain:

For ₹15L = 2.5L + 90K = 3,60,000 Edge RP

For ₹12L = 2.5L + 72K = 3,22,000 Edge RP

Equivalent KF Miles:

For ₹15L = 2,88,000

For ₹12L = 2,57,600

That’s 2x BOM/DEL SIN round trip in F class for you in both the cases

Fee Vs Value:

For 15L of annual spends you’re getting fee waiver. You’re paying only ₹11,800 as joining fee

For 12L of annual spends you’re paying both joining and annual fee. You’re paying ₹23,600

In both cases you’re getting ₹10K Tata Cliq voucher + ₹6L worth Flight Fare


Category 2:

For ₹7L-₹11L of spending you’re paying both the joining and annual fee.

Assuming that you’re hitting ₹1L milestone at least for 5 months.

Total milestone RP: 25K * 5 = 1.25L RP

For ₹7L Spends: 6K * 7 = 42K RP

For ₹11L Spends: 6K * 11 = 66K RP

Total RP Gain:

For ₹11L = 1.25L + 66K = 1,91,000 Edge RP

For ₹7L = 1.25L + 42K = 1,67,000 Edge RP

Equivalent KF Miles:

For ₹11L = 1,52,800

For ₹7L = 1,33,600

That’s BOM/DEL SIN roundtrip 1) 1x in Business Class & 1x in Economy Class
Or 2) 1x in F Class

Fee Vs Value:

For both cases you’re paying joining + annual fee, which is ₹23,600 in total.

You’re getting 10K Tata Cliq Vouchers in both cases of joining and renewal. ₹1.85L (Business + Economy) or ₹3L worth of Flight Ticket.


Category 3:

For ₹4L-₹6L of spending you’re paying both the joining and annual fee.

Assuming that you’re hitting ₹1L milestone at least for 3 months.

Total milestone RP: 25K * 3 = 75K

For ₹4L Spends: 6K * 4 = 24K

For ₹6L Spends: 6K * 6 = 36K

Total RP Gain:

For ₹6L = 75K + 36K = 1,10,000 Edge RP

For ₹4L = 75K + 24K = 99,000 Edge RP

Equivalent KF Miles:

For ₹6L = 88,000

For ₹4L = 79,200

That’s BOM/DEL SIN round trip 1) 1x in Business Class. 2) 2x in Economy Class

For ₹4L spends you’re short of 6K Miles

Fee Vs Value:

For both cases you’re paying joining + annual fee, which is ₹23,600 in total.

You’re getting 10K Tata Cliq Vouchers in both cases of joining and renewal. ₹1.2L (Business) or ₹1.3L (2x Economy) worth of Flight Ticket


Above all are the “Flat Value” calculations and ofcourse, real life usage will differ from one individual to another, but that’s what you get at those spending brackets.

That’s not the all, with Magnus you’ve access to quite a decent amount of accelerated RPs, monthly.


Accelerated RP Earning:

Gift Edge:

1. 3x RP on amazon voucher, with a monthly capping of ₹10K worth of vouchers
2. 5x RP on Croma, Tata Cliq, Flipkart, Kalyan Jewellery, PCJ, Reliance Digital, Blinkit etc
3. 10x RP on Myntra, Shopper’s Stop, Pantaloons, Yatra, MMT, KFC, Pizza Hut, Domino’s etc

Travel Edge:

You get 5x RP if you book flight and hotels via Travel Edge

Grab Deals:

Often you can see cashback or accelerated RP through it, but comes with capping

As you can see most of you basic needs will be covered with the vouchers

This is an overall usage guide, it’s not meant to be 100% suitable for an individual as everyone has different kind of spendings.

The best you can do is to firstly write down your spending categories, check if you can buy the GVs to spend in those then optimise it accordingly ​

 

[Hey.Manan]

In my opinion you should try this way and yes you will get ER which is Normal ER (12 per 200) + milestone benefit

1) Pay LIC in advance in one month till 1 lakh so in one month you get the milestone ER
2) remaining 70k you should do next month and 30k you can do with some other transaction

This way you can get 2 months milestone effectively

I also same way for remaining amount you can also invest in NPS (0.75 % fee)

I pay my LIC Bills online- is it even possible to pay in advance? i don't know if I can split the bill? Are you sure @jaimingandhi64 ?

 

[jaimingandhi64]

I pay my LIC Bills online- is it even possible to pay in advance? i don't know if I can split the bill? Are you sure @jaimingandhi64 ?

Sorry for the confusion

1) You can pay in advance from the lic website- There is option for advance payment
2) when I say split- I mean to say divide your payment among the policy

I don’t know if you have single policy of 1.7 lakh then you can’t but if you have total premium of 1.7 lakh for various policies then you can do it

 

[zpekter]

Why are you expecting 25k points?
100k/200*12= 6000ER
So 300k/200*12=18000ER
Plus in 3 months you’ll be getting that milestone’s 25k so a total of 43k ER for the 300k transaction.

Thank you for the detailed explanation. I did my calculations wrongly and got me confused with that.

 

[Prathamladha]

I purchased 12k Amazon voucher from gift edge..10k from one account and 2k from another account but used same magnus card for both transaction. Will i get 3x points on whole 12k transaction?

 

[mojo_jojo123]

I purchased 12k Amazon voucher from gift edge..10k from one account and 2k from another account but used same magnus card for both transaction. Will i get 3x points on whole 12k transaction?

following

 

[kkk]

I purchased 12k Amazon voucher from gift edge..10k from one account and 2k from another account but used same magnus card for both transaction. Will i get 3x points on whole 12k transaction?

following

 

[kohliS]

.

 

[James2307mr]

I purchased 12k Amazon voucher from gift edge..10k from one account and 2k from another account but used same magnus card for both transaction. Will i get 3x points on whole 12k transaction?

Probably not! Axis has been really strict in the past few weeks in awarding the rewards points.

Even if they credit, they might reverse them in future. Tread with caution!

 

[bothrag]

Anyone got the milestone rewards credited for Feb 23?

 

[WhoU]

Anyone got the milestone rewards credited for Feb 23?

No. You would see people mentioning proactively if they receive it. Asking this question will trigger everyone to check and waste their time

 

[Wealth is my birth right!]

No. You would see people mentioning proactively if they receive it. Asking this question will trigger everyone to check and waste their time

Exactly
Whenever this thread Akerts pop up I login Axis bank app lol

 

[thanix]

Is it possible to view the calendar month spends till date to find out how much is remaining to reach monthly milestone? Similar to what HDFC provides? Or is it all manually to be done by us?

 

[bothrag]

No. You would see people mentioning proactively if they receive it. Asking this question will trigger everyone to check and waste their time

I am a newbie to Axis Magnus and this would be my first milestone so was wondering by when it generally gets credited.

 

[bothrag]

Is it possible to view the calendar month spends till date to find out how much is remaining to reach monthly milestone? Similar to what HDFC provides? Or is it all manually to be done by us?

I have started downloading the statement from the axis website in Excel and keep appending to previous download so as to have all transactions in one place and can easily filter for the month.

 

[Venky]

I am a newbie to Axis Magnus and this would be my first milestone so was wondering by when it generally gets credited.

90 days. Like for April you’ll get the bonus 25k ER in July and if you’re talking about May then in August.

 

[a_tease]

Buy a car for Rs at least 15 Lakh, with at least 12 month waiting time. (Example: Thar or Xuv700)
Let us assume, a car with total on-road of 15 lakh rupees including everything.
1. Pay 1.25 Lakh every month (You get Rs 5000 in reward value, each month)
2. You'll save on renewal charges of Rs. 10,000

Total Money saved = (5k x 12) + 10k = 70k

 

[bothrag]

Buy a car for Rs at least 15 Lakh, with at least 12 month waiting time. (Example: Thar or Xuv700)
Let us assume, a car with total on-road of 15 lakh rupees including everything.
1. Pay 1.25 Lakh every month (You get Rs 5000 in reward value, each month)
2. You'll save on renewal charges of Rs. 10,000

Total Money saved = (5k x 12) + 10k = 70k

Where have you factored in the interest cost of funding that 1.25 lakh every month?

 

[ADITYA1904]

Where have you factored in the interest cost of funding that 1.25 lakh every month?

Yes what about interest?

 

[ADITYA1904]

Yes what about interest?

I mean dealer will get money without interest…dealer must be happy

 

[bhavik886151]

Yes as long as you are having magnus all ur Edge Rewards will be 5:4

can you please confirm ALL Edge Reward of CC and DC of axis have same ratio like 5:4 if we hold magnus or not ??