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Have a regalia gold with 11.28L. Chances for upgrade to Infinia

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@ccrnc I think someone dodging the question and then answering it indirectly answers a lot of things

In my opinion getting burgurandy on the basis of net sal credit >3L per month should be the only reason you get Magnus for burgurandy.

James simmons would come back from his grave yawn with his 66% CAGR of RenTec (for a period of 30 years) if he heard that people want safer "investments". Shit should always be full conviction
 
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Slayer said:
View attachment 53431

@ccrnc I think someone dodging the question and then answering it indirectly answers a lot of things

In my opinion getting burgurandy on the basis of net sal credit >3L per month should be the only reason you get Magnus for burgurandy.

James simmons would come back from his grave yawn with his 66% CAGR of RenTec (for a period of 30 years) if he heard that people want safer "investments". Shit should always be full conviction
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There is no point in answering a question when the answer is obvious.
Because there is no doubt that Magnus Burgundy is the best card in India, giving 24% return on air tickets and 14% return on spends over 1.5 lakhs every month.
Now it has become very difficult to obtain it, even more difficult than getting infinia.

however if your corpus is limited , then you should not put 30 lacs in fixed deposits, (unless you are a senior citizen).
In which case Magnus Burgundy is not for you
 
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drsel said:
You would have got 12.46% return on Magnus Burgundy
1.5 lacs return 7200
7.5 lacs return 105000.
Imagine how much your current credit card made out of you
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Reward rate doesn't mean anything if it is blocked. I am all good with blocking rewards of people who rotate/business spends on personal card. But blocking rewards not just for genuine, but for the intended usage is criminal and should be punished. I know people whose atlas /magnus rewards was blocked for genuine travel/hotel stays ( no rotation, not even rent or wallet). Recently someone posted that Axis is asking invoice of one cafe visit, without which they won't unblock the reward. Who keeps cafe invoice that too after 6-8 months?.
 
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drsel said:
30 lacs in equity doesn't guarantee you more than 7.25% per annum.

Chances of negative returns are very high when you insist on investing at the peak of the market and expect it to keep on going higher and higher.
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M4b makes sense only for salaried or current account holders. Keeping 10L in savings or 30L fd just for burgundy account makes no financial sense. Someone has to spend at least 20- 25L just to break even from the loss of "burgundy status".

1st of all, people need to differentiate between emergency, consumption & investment funds. Weridly, Burgundy balance can't be termed any of that because once you take the money out you lose burgundy status & the cc.

But where did you get the figure? Really 7.25%? People can get much higher return if they just do few simple things. People who dont have good finance knowledge & those who cant stay updated with relevant info, shouldn't even deal with individual stocks. Dealing with individual stocks is a full time job (though there are few exception).

If someone is putting money in burgundy account means he doesn't need to spend it in medium term then he should park the funds at mf. Even if there is a crash, it'll bounce back
drsel said:
What will you do if Flls keep on selling or if there is another virus attack or terrorist attack or war or the government falls or something nobody could never imagine?

you need to keep some money @7.25%, ready for that crash,
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If it happens, there are bigger things to worry about than cc rewards.

It's like saying someone might die next day/week/month, So he should spend all his money to enjoy. There is no sense of proportion in this argument.

Like @ccrnc said, if someone is so paranoid about war/govt/bank failing then they should buy gold ( may be with infinnia or even neu infinity/ kotak myntra 🤣)
 
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drsel said:
Agreed that people with limited resources should not block 30 lacs in fixed deposits, especially if they are young
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If argument is m4b is the best , then we can't ignore the cost of acquiring & maintaining the m4b cc & the burgundy status. We have to look at whole picture. This issue is same as infinnia against ulip/endowment investment.

Young/old/net worth isn't the primary concern. Primary concern is reward eligible spends on specific cc.
Lets say someone is going to spend 40-50L in a year mostly on travel/stay, m4b or Infinnia against ulip is a good option. They'll easily recover the cost & get higher return than if they had spent on a lower variant card. But if someone spends 15L, they can't recover the opportunity cost.( This is assuming rewards doesn't get blocked or cc doesn't get devalued further, both of which is unlikely )
 
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sidp said:
If argument is m4b is the best , then we can't ignore the cost of acquiring & maintaining the m4b cc & the burgundy status. We have to look at whole picture. This issue is same as infinnia against ulip/endowment investment.

Young/old/net worth isn't the primary concern. Primary concern is reward eligible spends on specific cc.
Lets say someone is going to spend 40-50L in a year mostly on travel/stay, m4b or Infinnia against ulip is a good option. They'll easily recover the cost & get higher return than if they had spent on a lower variant card. But if someone spends 15L, they can't recover the opportunity cost.( This is assuming rewards doesn't get blocked or cc doesn't get devalued further, both of which is unlikely )
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Interesting! so what is the opportunity cost over and above 7.25% per annum?
 
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drsel said:
There is no point in answering a question when the answer is obvious.
Because there is no doubt that Magnus Burgundy is the best card in India, giving 24% return on air tickets and 14% return on spends over 1.5 lakhs every month.
Now it has become very difficult to obtain it, even more difficult than getting infinia.

however if your corpus is limited , then you should not put 30 lacs in fixed deposits, (unless you are a senior citizen).
In which case Magnus Burgundy is not for you
Click to expand...
Best is a massive overstatement. Yes, air tickets, it's very good, and that's keeping in mind TravelEdge limitations, which often does not list all available flights/airlines. I have also read about other horrible issues like buying addons(luggage/meals) which gets charged for, but is not reflected in your airline booking. One such concerned poster had to pay overpriced rates at the airport counter to check in and waste time with the fabulous Axis customer care to claim the paid amount back(not sure if he did indeed get it back). If you travel internationally and fly airlines in Europe/NA where you'd often buy check in baggage separately, you can understand what a head ache it would be. I'm far happier taking my ~10% with my Atlas or 5% with SBI CB and booking direct. I'm a pilot and take my advice if you want, you always always wanna book direct. One tiny snag and you'd be running around trying to coordinate with multiple companies.

And that's the one and only category where it has good rewards. Axis Gyftr has been butchered, GrabDeals has never tracked for me and I have given up on it.

As for your 2nd category, 1.5L/month is pretty hard to hit for most upper middle class people even. Especially so, if you use any multiplier features, that gets excluded from the 1.5L calculation. So no pricy hotels/flights(TE spends), govt spends or the 15 other exclusions, what category would you even spend on to reach 1.5L and then a meaningful amount over it. Even people who are trying for Infinia need 7.5L/6 months, or 15L for the year. Take the example of OP, 4L in 3 months, or the other poster who spent 9L in what I am willing to bet is not less than 6 months. When would these normal folks ever benefit from that 14%?

But if you like your ER balance, it's very nice to see that you are happy and satisfied with your choice. I'd also like to thank you for funding my Atlas rewards. xD
 
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drsel said:
If so, then all banks will not get any fixed deposits.
There are thousands of crores in bank FDs
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Imagine someone says fd gives 7%. And then someone counters" If so, then all banks will not get any casa.
There are thousands of crores in bank in CASA. " 🤣 will it change the fact that fd is giving 7%.

And even regular/swipe in fd isn't that bad. It has instant access to funds with limited downside. So useful in case of emergency.

The same can't be said about burgundy fd. If someone wants to keep the cc, they can't take out funds. Burgundy fd is to fd what ulip is to mf ( though not to that degree). They have same limitations but don't get the same benefits.
 
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sidp said:
Imagine someone says fd gives 7%. And then someone counters" If so, then all banks will not get any casa.
There are thousands of crores in bank in CASA. " 🤣 will it change the fact that fd is giving 7%.

And even regular/swipe in fd isn't that bad. It has instant access to funds with limited downside. So useful in case of emergency.

The same can't be said about burgundy fd. If someone wants to keep the cc, they can't take out funds. Burgundy fd is to fd what ulip is to mf ( though not to that degree). They have same limitations but don't get the same benefits.
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Yes agreed, Magnus burgundy card is only for HNIs and senior citizens who have a lot of funds and don't want to put everything in the stock market.
They may want to diversify the portfolio with some guaranteed fixed income
 
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So far only one member complained that his burgundy card was downgraded to old Magnus, which is not worth paying for.

But I think Axis will warn you before they downgrade
 
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shantanu said:
Hi everyone. Have a regalia gold with 11.28L limit. If i take tata neu credit card just for upi payments, will my chances to upgrade to infinia reduce?

My last 3 months spends are around 4L


Previous thread : https://www.technofino.in/community...for-imperia-customer.22527/page-4#post-536914
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Every case scenario is different. Let me tell you 3 different cases.

Case 1: I got upgraded to Infinia without any core card, Have only Cobranded card (Tata Neu Plus)

Case 2: My friend recently have only co branded cards (6E Rewards XL, Tata Neu Infinity, Swiggy Card) with 7.9L and spends around 4Lacs in the past 6 months, got upgraded to Diners Black metal on request (Refer attachment) - Infinia not upgraded due to less CL and less spends.

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Case 3: In another case a friend of mine is not getting upgrade to Infinia due to co branded cards reason (Limit 8.4L, He has 4 Tata Neu Plus, Marriott Bonvoy, 6E Rewards, Swiggy and Moneyback) they are asking to close 2 cards and wait for 6 months.

So here I mentioned these cases because each case is different from others. Try yours if your spends, ITR, relationship, luck everything counts. Try for Infinia and you can even stand a chance to get Diners Black Metal FYF (Not a bad card).
 
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