Hype around Axis Magnus

[BigdeBigde is verified member.]

Off late I have been observing a lot of hype around Axis Magnus, people on Twitter going bonkers for this card. I see unboxing images for it almost every other day on Twitter and absolute craze around this card simply reminds me of the hey days of Infinia and DCB. Since Infinia is an invite only card and DCB lost its sheen during recent devaluations, card enthusiasts are finding solace in Magnus. Almost 6% returns on spending of 1L sounds too good to be true and recent Edge reward conversion to Kris Flyer miles added icing on the cake for the travel enthusiasts.

While HDFC created exclusivity around Infinia and DCB, Magnus is easily available to those with annual income of 18L+ who are willing to shell out 10K+GST, this easy availability led to hoard of people applying for it, Axis is also showering card approvals in return as Magnus is truly bringing in lot of revenues for their credit card department in terms of joining and annual fees. Some may argue that in lieu of joining or annual fee one is getting 10K worth of Air ticket or Tata Cliq voucher, first of all air ticket comes with its own set of terms and conditions and not everyone would be comfortable complying with those. Secondly, Tata Cliq voucher does bring in some additional value however a person can get better deals on Amazon or Flipkart than on Tata Cliq and on top of this not all PIN codes are serviceable by Tata Cliq.

It would have really a match made in heaven had Axis offered 10K worth of Amazon Gift card in place of Tata Cliq. Alas, not all wishes come true.

Inspired by the social media hype around Magnus a lot of gullible individuals have applied for Magnus now finding it difficult to spend 1L per month to extract 6% value out of this card. Many of them are contacting Card experts on Twitter for suggestion to manufacture the 1L monthly spends.

This brings me to the crux of this topic, is the hoopla around Magnus really justified? Does one really have to be a part of the Magnus bandwagon to get this card?

Ask yourself following questions if you really wish to opt for this card.
1. Are you comfortable spending 1L every month?
2. If you yearly income ranges between 18L-24 L (18L is eligibility criteria for Magnus) and if you are spending 1L each month are you really saving enough for those emergency days?
3. Are you okay with a meagre reward rate of 1.2% if you do not manage to spend 1L in a month?
4. Is it really worth getting 6% value back on spending 1L via manufactured spends? You can make a fix deposit in bank and get 6% interest on your principle amount,
5. Even if you are having genuine spends of 1L aren't you letting go more returns on other cards in form of instant discounts (10% discounts offer from different banks offered on Flipkart/Amazon time to time).
6. Are you a travel enthusiast who can get more bang for buck in terms of Air miles.

If answers to above questions are a BIG NO then I would recommend you considering following cards.
1. SBI Cashback card:

Flat 5% discount on most of the online transactions except a few (utility, rent, insurance and fuel) it is offered first year free and an annual fee of 999 +GST doesn't hurt as at the end of each billing cycle you will be getting your cashback credited back your card account. Cashback in account worth more than those edge rewards.

2. Axis Ace:


Flat 5% off on utility bill payments (Via GPay Android) and 2% on all offline spends (except fuel, EMI and cash advances) makes this a perfect card to carry with you all the time. A meagre fee of 499 +GST is nothing in comparison to the value it offers.

3. BOB Eterna:



This one is a bit low profile card which 5X rewards (3.75%) value back on International, Travel and Dinning spends, for now one can get rewards on rent and insurance payments too. Best for those who have a monthly online spends of 42,000.

In the end I would say do not fall prey to Magnus bandwagon, there are better cards available which offer more value than Magnus. Make your decision wisely. Sooner or later Magnus will get devalued and then you would be staring at an annul fee of 11800 (including GST) every year without being able to extract most value out of it.

Do let me know your thoughts in the comment section of this thread.

 

[R!ppEr]

CL?

Not sure yet

 

[Rahul92]

If you are fine with low limit and no addon cards, apply online. It will probably get approved without submitting any documents. If it gets rejected, proceed with an offline application with a card with 4L limit and 1yr old.

Got Myzone LTF approved as my 2nd axis card yesterday.

Should I wait sometime before applying for magnus ?

I'm also eligible for LTF select card. but i don't see any special benefits of it when I already got a LTF axis card.

 

[R!ppEr]

CL?

510000.. same as my apay card which i used to apply for magnus 😁

 

[Wealth is my birth right!]

510000.. same as my apay card which i used to apply for magnus 😁

yes c2c mostly same limit and if very old card then 10% hiked limit sometimes🙂

 

[Satish]

Finally Magnus got approved 🥹

When did you apply? & Was it online or offline?

 

[R!ppEr]

When did you apply? & Was it online or offline?

Was offline, on 25th oct

 

[alphamagnus]

You will not be earning regular points for jewellery I guess.

Can someone confirm?

 

[Wealth is my birth right!]

Can someone confirm?

I too have jewelry plan with magnus but purely focus on 25k Reward only
That 6k no issues we can compensate by grab deals order here and there

 

[Stevie G]

I too have jewelry plan with magnus but purely focus on 25k Reward only
That 6k no issues we can compensate by grab deals order here and there

Do we get normal RPs ( 12 RPs per Rs.200 spent) for Jewellery purchase??

For spends beyond 1 Lakh , do we get normal RPs for that amount as well which is over and above 1 lakh?? or is there any capping??

 

[souvikdey2002]

Off late I have been observing a lot of hype around Axis Magnus, people on Twitter going bonkers for this card. I see unboxing images for it almost every other day on Twitter and absolute craze around this card simply reminds me of the hey days of Infinia and DCB. Since Infinia is an invite only card and DCB lost its sheen during recent devaluations, card enthusiasts are finding solace in Magnus. Almost 6% returns on spending of 1L sounds too good to be true and recent Edge reward conversion to Kris Flyer miles added icing on the cake for the travel enthusiasts.

While HDFC created exclusivity around Infinia and DCB, Magnus is easily available to those with annual income of 18L+ who are willing to shell out 10K+GST, this easy availability led to hoard of people applying for it, Axis is also showering card approvals in return as Magnus is truly bringing in lot of revenues for their credit card department in terms of joining and annual fees. Some may argue that in lieu of joining or annual fee one is getting 10K worth of Air ticket or Tata Cliq voucher, first of all air ticket comes with its own set of terms and conditions and not everyone would be comfortable complying with those. Secondly, Tata Cliq voucher does bring in some additional value however a person can get better deals on Amazon or Flipkart than on Tata Cliq and on top of this not all PIN codes are serviceable by Tata Cliq.

It would have really a match made in heaven had Axis offered 10K worth of Amazon Gift card in place of Tata Cliq. Alas, not all wishes come true.

Inspired by the social media hype around Magnus a lot of gullible individuals have applied for Magnus now finding it difficult to spend 1L per month to extract 6% value out of this card. Many of them are contacting Card experts on Twitter for suggestion to manufacture the 1L monthly spends.

This brings me to the crux of this topic, is the hoopla around Magnus really justified? Does one really have to be a part of the Magnus bandwagon to get this card?

Ask yourself following questions if you really wish to opt for this card.
1. Are you comfortable spending 1L every month?
2. If you yearly income ranges between 18L-24 L (18L is eligibility criteria for Magnus) and if you are spending 1L each month are you really saving enough for those emergency days?
3. Are you okay with a meagre reward rate of 1.2% if you do not manage to spend 1L in a month?
4. Is it really worth getting 6% value back on spending 1L via manufactured spends? You can make a fix deposit in bank and get 6% interest on your principle amount,
5. Even if you are having genuine spends of 1L aren't you letting go more returns on other cards in form of instant discounts (10% discounts offer from different banks offered on Flipkart/Amazon time to time).
6. Are you a travel enthusiast who can get more bang for buck in terms of Air miles.

If answers to above questions are a BIG NO then I would recommend you considering following cards.
1. SBI Cashback card:
View attachment 4426
Flat 5% discount on most of the online transactions except a few (utility, rent, insurance and fuel) it is offered first year free and an annual fee of 999 +GST doesn't hurt as at the end of each billing cycle you will be getting your cashback credited back your card account. Cashback in account worth more than those edge rewards.

2. Axis Ace:

View attachment 4427
Flat 5% off on utility bill payments (Via GPay Android) and 2% on all offline spends (except fuel, EMI and cash advances) makes this a perfect card to carry with you all the time. A meagre fee of 499 +GST is nothing in comparison to the value it offers.

3. BOB Eterna:


View attachment 4428
This one is a bit low profile card which 5X rewards (3.75%) value back on International, Travel and Dinning spends, for now one can get rewards on rent and insurance payments too. Best for those who have a monthly online spends of 42,000.

In the end I would say do not fall prey to Magnus bandwagon, there are better cards available which offer more value than Magnus. Make your decision wisely. Sooner or later Magnus will get devalued and then you would be staring at an annul fee of 11800 (including GST) every year without being able to extract most value out of it.

Do let me know your thoughts in the comment section of this thread.

You mentioned the income Criteria as 18 Lakhs/Annum but in realty even if somebody has just a limit of over 2,00,000 in any card, AXIS will offer it to anybody & everybody. Personally i don't belong to that bracket but Magnus has been offered to me as a part of Pre-Approved offer. To me AXIS/SBI will offer cards to them who is willing to give them money, they don't have any other compulsion.

Secondly the benefits against the charges, you mentioned it correctly:- Either it's tatacliq voucher or airline ticket, they earn a huge money from these vendors, reason behind they will never ever offer Amzon/Flipkart voucher because that's where the maximum benefits can be gotten.

Last but not the least the people who are running for magnus is not able to understand where they stand in reality. Getting a card from AXIS/SBI doesn't matter at all in any aspects other than having a card against money. So the influencers who are actually able to churn out the benefits against 10,000+GST should aware the normal people that it's not everybody's cup of tea.

 

[card_enthusiast]

If you are fine with low limit and no addon cards, apply online. It will probably get approved without submitting any documents. If it gets rejected, proceed with an offline application with a card with 4L limit and 1yr old.

Axis has a very weird application process... applied online for Axis Magnus as already having Axis Myone with 5.25 lac limit hoping for getting it approved without any physical verification again...
But to my surprise, they sent an agent for physical verification who filled all the details again and asked for salary slip and bank statement.. no issues with that but he generated a new application reference no.. means a new civil inquiry again as axis already made an inquiry as soon as I applied online..
Also while asking for details, I asked the agent to apply for Add-on card which he completely denied, telling me that the bank does not take any add-on request can't take any request by myself for an add-on card..
At one point felt like canceling my application because of Axis weird behavior

 

[CMGCMG is verified member.]

Axis has a very weird application process... applied online for Axis Magnus as already having Axis Myone with 5.25 lac limit hoping for getting it approved without any physical verification again...
But to my surprise, they sent an agent for physical verification who filled all the details again and asked for salary slip and bank statement.. no issues with that but he generated a new application reference no.. means a new civil inquiry again as axis already made an inquiry as soon as I applied online..
Also while asking for details, I asked the agent to apply for Add-on card which he completely denied, telling me that the bank does not take any add-on request can't take any request by myself for an add-on card..
At one point felt like canceling my application because of Axis weird behavior

I checked js

    if(((vintage <= 2 && risk <= 3) || (vintage > 2 && vintage <= 7 && risk <=2) || (vintage > 7 && vintage <= 10 && risk < 2)) && resAddchange == "No") {
        REKYC_FLAG = "N";
    }

They set rekyc based on vintage and risk. So there is a possibility that, if you have not recently updated address, you might have to do kyc.

 

[Wealth is my birth right!]

I checked js

    if(((vintage <= 2 && risk <= 3) || (vintage > 2 && vintage <= 7 && risk <=2) || (vintage > 7 && vintage <= 10 && risk < 2)) && resAddchange == "No") {
        REKYC_FLAG = "N";
    }

They set rekyc based on vintage and risk. So there is a possibility that, if you have not recently updated address, you might have to do kyc.

great techy work!
good value add!!

 

[CMGCMG is verified member.]

I checked js

    if(((vintage <= 2 && risk <= 3) || (vintage > 2 && vintage <= 7 && risk <=2) || (vintage > 7 && vintage <= 10 && risk < 2)) && resAddchange == "No") {
        REKYC_FLAG = "N";
    }

They set rekyc based on vintage and risk. So there is a possibility that, if you have not recently updated address, you might have to do kyc.

after authenticating with OTP in cc application portal, type these in console to see whether there will be rekyc

jsonDemogDataGlobal.DATA.VAR_CUSTOMER_VINTAGE

jsonDemogDataGlobal.DATA.VAR_RISK_PROFILE

jsonDemogDataGlobal.DATA.VAR_REKYC_DATE

 

[BigdeBigde is verified member.]

You mentioned the income Criteria as 18 Lakhs/Annum but in realty even if somebody has just a limit of over 2,00,000 in any card, AXIS will offer it to anybody & everybody. Personally i don't belong to that bracket but Magnus has been offered to me as a part of Pre-Approved offer. To me AXIS/SBI will offer cards to them who is willing to give them money, they don't have any other compulsion.

Secondly the benefits against the charges, you mentioned it correctly:- Either it's tatacliq voucher or airline ticket, they earn a huge money from these vendors, reason behind they will never ever offer Amzon/Flipkart voucher because that's where the maximum benefits can be gotten.

Last but not the least the people who are running for magnus is not able to understand where they stand in reality. Getting a card from AXIS/SBI doesn't matter at all in any aspects other than having a card against money. So the influencers who are actually able to churn out the benefits against 10,000+GST should aware the normal people that it's not everybody's cup of tea.

Indeed it is not everyone's cup of tea, but the fear of missing out is making people gung-ho about this card. CC Influencers' inboxes are filled with messages from such users who joined the Magnus bandwagon without even keeping their spending in consideration and now asking for the ways to manufacture the spends to gain the bonus edge points. It is counter productive in the long run as either the gullible users end up spending what they can afford or the banks opt the devaluation route to bar the users from misusing their cards.

 

[souvikdey2002]

Indeed it is not everyone's cup of tea, but the fear of missing out is making people gung-ho about this card. CC Influencers' inboxes are filled with messages from such users who joined the Magnus bandwagon without even keeping their spending in consideration and now asking for the ways to manufacture the spends to gain the bonus edge points. It is counter productive in the long run as either the gullible users end up spending what they can afford or the banks opt the devaluation route to bar the users from misusing their cards.

Now you see the effect of issuing the cards against money!!!
In the same way you would never be able to get Infinia/Emeralde/DCB/Wealth even if you are ready to pay any amount.
This is the reason I'm against these 2 banks, i.e. AXIS/SBI, since they don't see the profile of the particular people, rather issue cards to pump in money.

 

[BigdeBigde is verified member.]

Now you see the effect of issuing the cards against money!!!
In the same way you would never be able to get Infinia/Emeralde/DCB/Wealth even if you are ready to pay any amount.
This is the reason I'm against these 2 banks, i.e. AXIS/SBI, since they don't see the profile of the particular people, rather issue cards to pump in money.

Agreed, but had Axis not been there, CC game would have turned quite appalling specially after the devaluation of Infinia and DCB. I am an admirer of Axis for bringing in cards like ACE, Flipkart Axis, Airtel and Magnus. They not only pulled in lot of new users in the CC world but also taught few lessons to biggies like HDFC, ICICI and SBI about designing cards which are truly rewarding their customers.

For offering cards to ineligible customers, I agree Axis should have been more careful but for them it's more about capturing the market share specially the premium segment which was handed over to them on a platter by HDFC.

 

[souvikdey2002]

Agreed, but had Axis not been there, CC game would have turned quite appalling specially after the devaluation of Infinia and DCB. I am an admirer of Axis for bringing in cards like ACE, Flipkart Axis, Airtel and Magnus. They not only pulled in lot of new users in the CC world but also taught few lessons to biggies like HDFC, ICICI and SBI about designing cards which are truly rewarding their customers.

For offering cards to ineligible customers, I agree Axis should have been more careful but for them it's more about capturing the market share specially the premium segment which was handed over to them on a platter by HDFC.

To offer Premium cards the Customer base also have to be in the same category which shall be chosen purely based on Credit Depth, History, Income & many other factors. But AXIS took a very simple Principle, "Paisa feko, maja dekho" which I don't like.

 

[SDK]

I have applied magnus CC offline via A-pay CC Can we check credit limit before dispatch ?Today i have received CC approved message ?

 

[Rahul92]

I have applied magnus CC offline via A-pay CC Can we check credit limit before dispatch ?Today i have received CC approved message ?

What is your apay limit ?