Axis Magnus | Spend on 30/31 of the month. Is it considered in same month or next month?

[mynameisusername]

Hi

I have joined magnus on 24th Jan 2023 and I know same month we're not eligible for 1L milestone. I wanted to check if transactions done on 30th or 31st are considered in January or it is based on settlement date which could be 1st Feb therefore spend would be considered in Feb'23.

I searched the thread where there was discussion about settlement date and transaction date but didn't find end conclusion which date is considered for monthly milestone

Many thanks

 

[mosco]

I have a recorded conversation with cc where they mentioned that it is counted as date of txn but she wasn't confident enough and not sure if we can use that as concrete confirmation. I'll try using it in future if I ever get in such situation.

 

[Copycat]

Can someone who has done transaction on last day of a month please confirm that its counted for milestone in same month or next month ? Milestone eligibility can be different from what is showing in statement. only a person who has done <1L till last day of a month can tell .. that too before jan / feb since he would have got / not got points by now.

It would be best to completely avoid such transactions (on the last day of the month and before noon of the 1st of the month). I think one of the mods did a transaction on the 1st, before 5AM, and it was counted in the previous month. I'm think the card was Magnus but I'm not 100% sure. Also, I have read of people who did transactions on the last day of the month and had it counted in the next month

 

[cardwizard]

It would be best to completely avoid such transactions (on the last day of the month and before noon of the 1st of the month). I think one of the mods did a transaction on the 1st, before 5AM, and it was counted in the previous month. I'm think the card was Magnus but I'm not 100% sure. Also, I have read of people who did transactions on the last day of the month and had it counted in the next month

Yes, That was me, I did a gyftr transaction on 1st of the month at 12:30 AM using Magnus, but in the statement it showed transaction date as the 30th of the prev month, hence it was not counted for the monthly milestone.

 

[mojo_jojo123]

Yes, That was me, I did a gyftr transaction on 1st of the month at 12:30 AM using Magnus, but in the statement it showed transaction date as the 30th of the prev month, hence it was not counted for the monthly milestone.

are you sure it was not counteed for current month milestone ?

 

[cardwizard]

are you sure it was not counteed for current month milestone ?

Actually for this, I need to wait for the next couple of months and see.
Currently, this information was verified by customer care as in my Axis mobile app also transaction settlement date is shown as the 30th and cc told the same. For milestone benefit, they consider the calendar month only ie. settlement should happen from 1st to 30th of that month.

 

[mojo_jojo123]

Actually for this, I need to wait for the next couple of months and see.
Currently, this information was verified by customer care as in my Axis mobile app also transaction settlement date is shown as the 30th and cc told the same. For milestone benefit, they consider the calendar month only ie. settlement should happen from 1st to 30th of that month.

I think in app it shows only the transaction date and not the settlement date..

 

[Copycat]

If you look at this thread, it confirms that they use the settlement date

Axis refusing to reverse Magnus Annual Fees

I hold Magnus since March 2022 and my card anniversary was 2nd Mar 2023 to complete the Rs. 15 lakh criteria. I have been going back and forth with Axis through email on premium experience customer care. According to them, I have done Rs. 14.95 lakh spends till 2nd March. However, while...

www.technofino.in

So, skip paying via Magnus on the 30th/31st for the monthly milestone
Also, if you are going for the annual milestone, make sure that you finish all spends a week in advance of your anniversary date to avoid any hassle IMP: It most likely will not be 30th/31st, so take care.

 

[mojo_jojo123]

In Edge rewards statement I see that day of a transaction is 5-6 days after actual transaction date . For example the transaction I did on 21-05-2023 , Its showing as 27-05-2023 , does it means that it was settled on 27-05 ? if yes then it means we need to have 1 week as safety margin and not just 2 days

 

[akf]

In Edge rewards statement I see that day of a transaction is 5-6 days after actual transaction date . For example the transaction I did on 21-05-2023 , Its showing as 27-05-2023 , does it means that it was settled on 27-05 ? if yes then it means we need to have 1 week as safety margin and not just 2 days

Also, this is very arbitrary. Sometimes the posting is quicker, sometimes slower. Very hard to predict

 

[Copycat]

In Edge rewards statement I see that day of a transaction is 5-6 days after actual transaction date . For example the transaction I did on 21-05-2023 , Its showing as 27-05-2023 , does it means that it was settled on 27-05 ? if yes then it means we need to have 1 week as safety margin and not just 2 days

Please post a screenshot of the date that you are talking about. The only date that I see in the desktop version of the ER statement is a date called transaction date. That is the date on which the points were credited. The transaction refers to the credit of points. Unless you are talking about a different date ...

 

[mojo_jojo123]

Please post a screenshot of the date that you are talking about. The only date that I see in the desktop version of the ER statement is a date called transaction date. That is the date on which the points were credited. The transaction refers to the credit of points. Unless you are talking about a different date ...

ok so the transaction date on ER sections means the transaction date of ER credit and not the actual transaction/settlement date of the spend ?

 

[Copycat]

ok so the transaction date on ER sections means the transaction date of ER credit and not the actual transaction/settlement date of the spend ?

Yes

 

[woolooloo]

I can confirm. I did a transaction on 27th/28th Feb which was still showing "In process" on 1st april.

But I got the milestone points for Febuary a few days back.

It was a 40k transaction so without it I wouldn't have reached the 1L spend.