Axis Magnus Axis Magnus vs Citi Prestige

[vinrey287]

Hi, I'm currently having Axis Magnus paid and Citi Rewards LTF. Is it better to upgrade to Citi Prestige as my current Limit is 4L and will get 10k miles on every renewal effectively bringing down the annual charge to same as Magnus?
My Magnus is due in Jan and I doubt if it will be worth keeping after next years renewal.

@TechnoFino @bvc19296 @Wealth is my birth right! @sacgup @anirban.choudhury @xywowowvw

 

[BVCBVC is verified member.]

Hi, I'm currently having Axis Magnus paid and Citi Rewards LTF. Is it better to upgrade to Citi Prestige as my current Limit is 4L and will get 10k miles on every renewal effectively bringing down the annual charge to same as Magnus?
My Magnus is due in Jan and I doubt if it will be worth keeping after next years renewal.

@TechnoFino @bvc19296 @Wealth is my birth right! @sacgup @anirban.choudhury @xywowowvw

You also get 10000 ITC or Taj voucher along with 10K miles, your joining fees and renewal fees is waived off only GST extra has to be paid. Coming to renewal next year, not sure how Axis will transfer Citi prestige customers and other Citi credit card customers.

As your fees is waived off you get 4% miles on every eligible transaction mentioned so it's a good card compared to Axis Magnus.

 

[drsel]

Magnus with Burgundy is the best option but if you cannot keep 10 lacs idle in saving account then go for Axis Atlas.
Both these are better than Citi prestige

 

[BVCBVC is verified member.]

Just have a note that Citi prestige now being issued on Visa Infinite Platform, so you miss out on MC World Elite benefits.

 

[drsel]

5 star hotel vouchers like ITC or Taj should be discounted 50% so they are actually worth 5000.
You will not be able recover that 23600 spent on joining fee and annual fee every year

 

[drsel]

Use the credit pedia app to compare the two cards Atlas versus Citi prestige, and you will see the differences.
23600 joining and renewal fee is the main difference

 

[Deleted member 11974]

If it suits your needs go for it

Hi, I'm currently having Axis Magnus paid and Citi Rewards LTF. Is it better to upgrade to Citi Prestige as my current Limit is 4L and will get 10k miles on every renewal effectively bringing down the annual charge to same as Magnus?
My Magnus is due in Jan and I doubt if it will be worth keeping after next years renewal.

@TechnoFino @bvc19296 @Wealth is my birth right! @sacgup @anirban.choudhury @xywowowvw

Is what I would say

 

[Deleted member 11974]

Only downside here is not sure what will happen to the points earned on citi prestige and what will your card get converted into after takeover is completed

 

[vinrey287]

You also get 10000 ITC or Taj voucher along with 10K miles, your joining fees and renewal fees is waived off only GST extra has to be paid. Coming to renewal next year, not sure how Axis will transfer Citi prestige customers and other Citi credit card customers.

As your fees is waived off you get 4% miles on every eligible transaction mentioned so it's a good card compared to Axis Magnus.

I did not consider Taj or ITC as I don't know whether I will utilize it ever.

 

[vinrey287]

Magnus with Burgundy is the best option but if you cannot keep 10 lacs idle in saving account then go for Axis Atlas.
Both these are better than Citi prestige

No plans to move to Burgundy. I have Atlas as well but using it for foreign trans does not give any value. Considering Citi gives 5 add ons with unlimited lounge access + foreign trans has better value, I was thinking to switching to it by discarding Magnus(12k annual fee saved)

 

[vinrey287]

Just have a note that Citi prestige now being issued on Visa Infinite Platform, so you miss out on MC World Elite benefits.

What additional value does MC World Elite have? Can't we request for MC after we receive Visa card.. Also I am holding Magnus on Visa platform.

 

[drsel]

No plans to move to Burgundy. I have Atlas as well but using it for foreign trans does not give any value. Considering Citi gives 5 add ons with unlimited lounge access + foreign trans has better value, I was thinking to switching to it by discarding Magnus(12k annual fee saved)

Even Magnus plain gives you unlimited International Lounge access plus 8 extra for your friends and family.

On foreign spends, the return on Magnus Burgundy is 4.80% - 2.36% equals 2.44%.
What is the net return on Citi prestige after deducting the forex markup?

 

[vinrey287]

5 star hotel vouchers like ITC or Taj should be discounted 50% so they are actually worth 5000.
You will not be able recover that 23600 spent on joining fee and annual fee every year

Yes thats why I have only considered the miles benefit that is provided against the joining/annual fee. Magnus will also not be giving any renewal benefit going forward

 

[drsel]

Yes thats why I have only considered the miles benefit that is provided against the joining/annual fee. Magnus will also not be giving any renewal benefit going forward

I just received 10000 Tata cliq in August for renewing my Magnus, so I will wait and see if they have any incentive for paying the renewal fee in August 2024

 

[vinrey287]

Even Magnus plain gives you unlimited International Lounge access plus 8 extra for your friends and family.

On foreign spends, the return on Magnus Burgundy is 4.80% - 2.36% equals 2.44%.
What is the net return on Citi prestige after deducting the forex markup?

For Magnus it is 2.4% - 2.36%(Forex)= .04%
Prestige: 2RP for international spend = 8 Partner Miles (Forex: 4.13%) = 3.87% (considering 1Mile=1 Rs)

 

[vinrey287]

I just received 10000 Tata cliq in August for renewing my Magnus, so I will wait and see if they have any incentive for paying the renewal fee in August 2024

You are one of few members who applied at the right time last year..

 

[vinrey287]

Only downside here is not sure what will happen to the points earned on citi prestige and what will your card get converted into after takeover is completed

Thats what is stopping me.. Currently Axis doesn't have anything in their portfolio around 20k fee .. So I am hoping they will keep the card as it is

 

[drmsiva]

Citi Prestige does not even give points on educational spends - one of the reasons for me to close the card last year. It may have other exclusions too - please check the details.

 

[drsel]

A pity Accor is not there in the miles transfer list of citi Prestige

 

[drsel]

For Magnus it is 2.4% - 2.36%(Forex)= .04%
Prestige: 2RP for international spend = 8 Partner Miles (Forex: 4.13%) = 3.87% (considering 1Mile=1 Rs)

Singapore airlines and others are 60--80 paisa per mile.
Unfortunately Accor is not included .
If Accor was included I would have considered one rupee for each mile.
Why can't Citibank include transfer to Accor hotels?

For foreign transactions --
Plain Magnus it is 2.40%-- 2.36%(Forex)= 0.04%
Magnus Burgundy 4.80--2.36=2.44%
Prestige: 8 miles@80 paisa, 6.40-- 4.13% = 2.27%