Buying a car on Magnus?

[Infiniti]

I am planning to apply for Magnus and use it to buy a car. Few queries I had :-

1) Considering they do not allow points for the issuance month, I will have to delay the purchase to Dec 1st. Is there any way they can make an exception to this?

2) What would be the quickest way to apply and also get a decent limit? I currently have MyZone from them but hold DCB with 7L+, IDFC Wealth and Premier Miles. Also a Citigold client (got exception on NRV) which is soon to be transitioned to Axis.

3) No issues on getting points / caps for a single large transaction I hope? So to be clear, I will effectively get airmiles at 6% of the trxn value?

4) Any other card which I should look to use vs Magnus?

 

[bugmenot]

If you could share, what's the price of car?

 

[gurbina]

I am planning to apply for Magnus and use it to buy a car. Few queries I had :-

1) Considering they do not allow points for the issuance month, I will have to delay the purchase to Dec 1st. Is there any way they can make an exception to this?

2) What would be the quickest way to apply and also get a decent limit? I currently have MyZone from them but hold DCB with 7L+, IDFC Wealth and Premier Miles. Also a Citigold client (got exception on NRV) which is soon to be transitioned to Axis.

3) No issues on getting points / caps for a single large transaction I hope? So to be clear, I will effectively get airmiles at 6% of the trxn value?

4) Any other card which I should look to use vs Magnus?

I've seen around a lot of people in the forum mentioning the points per transaction was capped at 6k ER. So that being the most common case I'd try some other card.

 

[ankushanup1]

I've seen around a lot of people in the forum mentioning the points per transaction was capped at 6k ER. So that being the most common case I'd try some other card.

Many have shared that base points on transactions upto 1.75 lakhs has been credited . but don't know how axis system may throw up issue as it's totally unpredictable
For buying a car it would be higher than 1.75 lakh for sure unless there is something like down payment/split payment or old car exchange etc so better to speak to credit card team before going ahead
Car dealers usually don't accept credit card for car purchases they straight away deny or say would add charges but if anyone has any reliable dealer who accepts credit card kindly share for benigit of all users

 

[Infiniti]

If you could share, what's the price of car?

it's around 10 lakhs.

 

[Infiniti]

Many have shared that base points on transactions upto 1.75 lakhs has been credited . but don't know how axis system may throw up issue as it's totally unpredictable
For buying a car it would be higher than 1.75 lakh for sure unless there is something like down payment/split payment or old car exchange etc so better to speak to credit card team before going ahead
Car dealers usually don't accept credit card for car purchases they straight away deny or say would add charges but if anyone has any reliable dealer who accepts credit card kindly share for benigit of all users

yes precisely i wanted to check if there is a limit. dealer is accepting CC with 1% charge and nil with debit card.

 

[Infiniti]

I've seen around a lot of people in the forum mentioning the points per transaction was capped at 6k ER. So that being the most common case I'd try some other card.

I think that's only for insurance or rent.

 

[ankushanup1]

yes precisely i wanted to check if there is a limit. dealer is accepting CC with 1% charge and nil with debit card.

1%is ok but what about the threshold of purchase if you're not comfortable with exact amount kindly put approx 4-5 lakh Or something like that
plus check othercard options like Axis reserve as itgives good returns on high spends

 

[ankushanup1]

it's around 10 lakhs.

you should definitely check out axis reserve or citi cards then try to split in two transactions (like once booking /full on delivery)and you would get 2 month milestone benifits if planned accordingly...

 

[Infiniti]

you should definitely check out axis reserve or citi cards then try to split in two transactions (like once booking /full on delivery)and you would get 2 month milestone benifits if planned accordingly...

50k fee - this I cannot afford! I buy a car once in 10 years so this is large value trxn but regular spends are not too high. same with Citi Prestige.

 

[ankushanup1]

50k fee - this I cannot afford! I buy a car once in 10 years so this is large value trxn but regular spends are not too high. same with Citi Prestige.

but 50k fee is rewarded in points also true for renewal but still it's hefty fair point
but with a 10lakh car you would spend at least 3 lakh /yr on service, insurance and fuel +other spends if hitting 10lakh also consider reserve
if spendsof even 5 lakh in forex reserve is sure for you
plus tax and gst payments would also be paid at good ℅ rewards
same is true for nps if you have majority of this don't think too much about fer