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

[isatyajeet]

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!

 

[Hisoka]

No, you can't. You can check Gold coins.

Hey I just read your question and my needs are very similar to yours. I can spend one lakh but not every month. So I’d try to utilise the 10K Tata voucher to compensate for such high joining fees. Can you tell how will you use your Tata voucher? Will you buy gold coins or some other technique which would be as good as cash

Also, Congrats for your new Magnus card!

 

[isatyajeet]

Hey I just read your question and my needs are very similar to yours. I can spend one lakh but not every month. So I’d try to utilise the 10K Tata voucher to compensate for such high joining fees. Can you tell how will you use your Tata voucher? Will you buy gold coins or some other technique which would be as good as cash

Also, Congrats for your new Magnus card!

Thanks man. About using the 10k voucher, it's very subjective. Before getting the card, I was also trying to calculate all this to get the best value. But it's not a big deal. The voucher is valid for 1 year. You can use it multiple times on both tatacliq.com and luxury.tatacliq.com. I mean I personally wouldn't buy an Armani t-shirt worth 10k, but there are many other useful things on both the websites. You have to explore around. For example, I bought a Zippo lighter, that design is not available anywhere but on luxury.tatacliq, and then I also bought a backpack worth 2k to gift someone. Then I got a chinos from tatacliq for 1.5k. So I'm sure I'll be able to use it without any issues. Just don't buy anything unnecessary just because you have 10k in the wallet.

 

[Hisoka]

Thanks man. About using the 10k voucher, it's very subjective. Before getting the card, I was also trying to calculate all this to get the best value. But it's not a big deal. The voucher is valid for 1 year. You can use it multiple times on both tatacliq.com and luxury.tatacliq.com. I mean I personally wouldn't buy an Armani t-shirt worth 10k, but there are many other useful things on both the websites. You have to explore around. For example, I bought a Zippo lighter, that design is not available anywhere but on luxury.tatacliq, and then I also bought a backpack worth 2k to gift someone. Then I got a chinos from tatacliq for 1.5k. So I'm sure I'll be able to use it without any issues. Just don't buy anything unnecessary just because you have 10k in the wallet.

Oooh so you can load that voucher into Tata cliq and use it in multiple times? That’s great. I thought it has to be utilised in one go

 

[isatyajeet]

Oooh so you can load that voucher into Tata cliq and use it in multiple times? That’s great. I thought it has to be utilised in one go

Yes, you can use it multiple times 🙂