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Magnus bandwagon! Is Axis Magnus good for a use case like mine? Please advice.

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isatyajeet

isatyajeet

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I was really considering applying for the Magnus card, but I am not sure if it’s a good match for me or not. I have realised that there are many people in similar position like myself. This should help them as well. Here are my queries/confusions, and some points. I have already tried contacting Axis bank regarding these credit card queries before applying, but I am unable to go though the IVR without a credit card number 🤷🏻‍♂️
  1. About the 1lac/month milestone, I am not sure I’ll able to achieve that regularly with my necessary spends, it’s possible but uncertain. The point is at what point it is worth having the card. I have the HDFC Business Regalia right now, which I have received 3 months ago, and I have already spent 6+ lacs in last 3 months only, just 2 lacs away from Regalia’s 8lac milestone benefit. These spends were not just mine, family spends are included. But I don’t think this will be the case always, so let’s say I will achieve the Magnus’ 1lac/month milestone only 3-4 or may be 5 times in a year, would this still be a worthy card in this case is the question?

  2. The second point is I am going to apply this on C2C basis. I have the Amazon Pay card with 5Lac limit, no EMIs or anything, whole limit is vacant. I have read here that people have done C2C with this card successfully. But I would still need to pay around 11,800/year. Is this worth getting for me? If I am not wrong, this is annual fees. So if I apply right now, I pay 11,800, and then I will pay 11,800 on this day next year, is this correct? Confusion is because someone here said you have to pay joining+annual i.e 23,600.

  3. Now I am okay with this fees, only considering the welcome/annual benefits. Three queries regarding that as well.
    — Are the complimentary flight ticket and 10k Tata CLiQ voucher both just welcome benefit, or BOTH are annual benefits?
    — About the free flight ticket. I think this would be useless, as this is for a one way ticket, my usual domestic travel fare is Rs.5000 only. So I won't pick this.
    — About the 10k Tata CLiQ voucher, this is something I can utilise. I am guessing this is like money in the Tata CLiQ website, and I can use it multiple times? If this is the case, this is well worth it for me. I can easily order stuff worth 10k in a year, every year. This makes the 'effective' card cost down to Rs.1800 only, which I will gladly pay for the benefits of this card.

  4. I am a noob in miles conversion game, and I haven’t done this ever before. I reckon utilising this card to its full potential would require knowledge of miles game as well, is that too complicated? Pardon my ignorance. I have also bookmarked a few videos to learn that.

  5. As it must be evident, I am fairly new to the credit card game. My current portfolio is:
    — Amazon Pay LTF
    — IndusInd Legend LTF
    — HDFC Business Regalia LTF

  6. I will obviously direct all my transactions towards Magnus. After (if) reaching the monthly milestone, I am going to switch to Regalia.
I would really appreciate your suggestions/advice.

Thank you!
 
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Infiniti said:
yep..asked this specifically since I applied on 14th. checking if I should cancel and reapply or they can make an exception.
Click to expand...

Admin says this is last year's offer. Either it isn't live yet or the agent you spoke to was confused. If that is the case you better not cancel your existing application.

www.technofino.in

Axis bank vistara co-branded credit cards joining fees reversal offer 15th Nov to 31st Dec 2022

Hello everyone, Axis bank is back with it's joining fees reversal offer for its all three vistara co-branded credit cards. It's a spend based joining fees reversal offer. You have to spend X amount of money within first 90 days of card setup. For Axis Vistara Credit Card- You have to spend...
www.technofino.in www.technofino.in
 
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Copycat said:
Admin says this is last year's offer. Either it isn't live yet or the agent you spoke to was confused. If that is the case you better not cancel your existing application.

www.technofino.in

Axis bank vistara co-branded credit cards joining fees reversal offer 15th Nov to 31st Dec 2022

Hello everyone, Axis bank is back with it's joining fees reversal offer for its all three vistara co-branded credit cards. It's a spend based joining fees reversal offer. You have to spend X amount of money within first 90 days of card setup. For Axis Vistara Credit Card- You have to spend...
www.technofino.in www.technofino.in
Click to expand...
In lot of forums this pic of vistara cards yesterday and today hni cards are flying
We need officially confirmed for getting real benefit
 
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I am being told that they are not issuing Magnus on c2c basis anymore and yes previously they did, for cards which had a limit 2.5lakhs+.
Can anyone confirm this?
I am based in Raipur.
 
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Can anyone confirm? Now one of the RM’s from another branch is telling me that they need a limit of 4 lakhs+ to apply for c2c basis.

I am very confused on how to proceed with this.
 
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Venky said:
I am being told that they are not issuing Magnus on c2c basis anymore and yes previously they did, for cards which had a limit 2.5lakhs+.
Can anyone confirm this?
I am based in Raipur.
Click to expand...
I was told the same (Please go through the thread). You can still get this though, you'll need to make some calls. Ask friends/family if they know anyone in Axis. If anyone has a higher variant account in Axis (Like Burgundy) that's even better. Ask them to request their RM/BM for sending a internal lead for this.
 
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Venky said:
Can anyone confirm? Now one of the RM’s from another branch is telling me that they need a limit of 4 lakhs+ to apply for c2c basis.

I am very confused on how to proceed with this.
Click to expand...
When I applied last week, I was told 4lacs is the new required limit for CTC. I have 5lacs on APay card, so I used that.
 
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Copycat said:
Note: My initial calculation had an error. Thanks to @thementalist for pointing it out. What you see in this post is the corrected version.

You pay 11,800 before getting the card and 11,800 1 year later
You can choose either the TataCliq voucher or the air ticket once a year, every year, even if your renewal fees are waived off because you met the spend target
Simple calculation
Your charges:
1) GST: 1800/-
2) If you buy a gold bar from TataCliq assume you will lose about Rs 2000/- when you try to sell it
So your total one time yearly charges are: 1800/- + 2000/- = 3800
3) Now let's consider what you will lose by not using your other cards because they have better offers. Assume that you have to spend 1 lakh. Your best card gives you 5% back on all spends (don't know if such a one exists). We will take this as your opportunity cost of Rs 5000/-

Now assume you hit the milestone for 1 month in 12. You get Rs 6200 worth of points (Milestone benefit Rs 5000, Normal RP Rs 1200). So your loss is
6200 - 3800 (yearly spend as explained in points 1 & 2) - 5000 (opportunity cost as explained in point 3) = Loss of Rs 2600
Now assume you hit the milestone for 2 months in 12. You get Rs 6200 + Rs 6200 worth of points (Milestone benefit Rs 5000, Normal RP Rs 1200). So your loss is 6200 (Month 1) + 6200 (Month 2) - 3800 (yearly spend from 1 & 2) - 5000x2 (2 months x opportunity charge as explained in point 3) = Loss of Rs 1400
Now assume you hit the milestone for 3 months in 12. You get Rs 6200 x 3 worth of points (Milestone benefit Rs 5000, Normal RP Rs 1200). So your loss is 6200x3 - 3800 (yearly spend from 1 & 2) - 5000x3 (3 months x opportunity charge as explained in point 3) = Loss of Rs 200
Now assume you hit the milestone for 4 months in 12. You get Rs 6200 x 4 worth of points (Milestone benefit Rs 5000, Normal RP Rs 1200). So your profit is 6200x4 - 3800 (yearly spend from 1 & 2) - 5000x4 (4 months x opportunity charge as explained in point 3) = Profit of Rs 1000

After that, every month you hit a milestone it is pure profit
If you are not going to hit the milestone in that month then use your other cards. So you need to plan your spends in advance

Naturally, if you don't have a card that gives you 5% then your opportunity cost from point 3 is much lower so your break-even point occurs earlier
Assumptions: You will buy the TataCliq voucher, you will choose Amazon GVs as redemption options (because they are as good as cash). If you are into the air-miles/hotel points game then you get better redemption rates
Click to expand...
Can we buy Amazon GV using Tata Cliq voucher?
 
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satviksehgal said:
The first thing you should do is to keep that IndusInd Legend card in the sock drawer, absolutely useless card compared to the one's you have already.
Click to expand...
But I think Legend has the lowest foreign markup in comparison to other cards in his portfolio

It’s 1.8% in comparison to other 3.5%

I use legend only for international spends and weekend benefits , it has the lowest foreign markup in my portfolio also
 
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