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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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Regalia's 15,000 milestone bonus value is ₹7,500.

If you managed to achieve 1L milestone benefit once in magnus, the miles value is somewhere around 20-25k.
BOTH are annual benefits?
Click to expand...
Currently, yes.
noob in miles conversion game
Click to expand...
This community will help you with that.

Also, do all these as soon as possible. We don't know when the devaluation will hit magnus.
 
Last edited:
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isatyajeet said:
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?=worthy even if u hit 2 times in an year 1lc in magnus spends

  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.=yly 10k plus 1800 thats the card fee it can be termed joining fee and renewal fee year on year but 11,800/- per annum is the net charges

  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?=either one u can choose every year upon fee payment
    — 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.=dont take flight voucher, opt for TCliq
    — 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.= yes you're right, once u add coupon code to TCliq u can spend on multiple buyings

  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=its that much easy test with some 1k points conversion to learn practically.

  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!
Click to expand...
My replies are in yellow bold thanks
 
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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
 
Last edited:
Upvote 0 Downvote
isatyajeet said:
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!
Click to expand...
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.
 
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cmg said:
Regalia's 15,000 milestone bonus value is ₹7,500.

If you managed to achieve 1L milestone benefit once in magnus, the miles value is somewhere around 20-25k.

Currently, yes.

This community will help you with that.

Also, do all these as soon as possible. We don't know when the devaluation will hit magnus.
Click to expand...
Thank you! I am going to apply for this tomorrow. Meanwhile, I'll start reading about the air-miles game.
 
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Copycat said:
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 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). Magnus gives you 1.2%. So on a lakh you will lose 5-1.2 = 3.8 = Rs 3800

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 3800 (yearly spend from 1 & 2) + 3800 (opportunity charge as explained in point 3) - 6200 = Loss of Rs 1400
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 profit is 6200 (Month 1) + 6200 (Month 2) - 3800 (yearly spend from 1 & 2) - 3800x2 (2 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...
Yes! I didn't see (calculated) it in this way. This was very well explained. Planning necessary/certain spends in advance is the key. I will keep this in mind. Thank you.
 
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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...

I have barely used the Legend card. It's just there. I thought the Auto assist service can be of use sometime, unfortunately it's not available in my city. They have recently removed the complimentary Golf feature as well.
 
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Copycat said:
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). Magnus gives you 1.2%. So on a lakh you will lose 5-1.2 = 3.8 = Rs 3800

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 3800 (yearly spend from 1 & 2) + 3800 (opportunity charge as explained in point 3) - 6200 = Loss of Rs 1400
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 profit is 6200 (Month 1) + 6200 (Month 2) - 3800 (yearly spend from 1 & 2) - 3800x2 (2 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...
Aren't you counting 1200rs twice, once in opportunity cost, then again in Milestone spends??
Like for 1 month spends of 1L without Magnus = 5000rs back
and with Magnus = 6200 - 3800 = 2400rs back
thereby meaning loss of 2600rs instead of 1400rs
 
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thementalist said:
Aren't you counting 1200rs twice, once in opportunity cost, then again in Milestone spends??
Like for 1 month spends of 1L without Magnus = 5000rs back
and with Magnus = 6200 - 3800 = 2400rs back
thereby meaning loss of 2600rs instead of 1400rs
Click to expand...
You are right. Thank you for the correction

The opportunity cost should have been a flat 5000/- not 3800/- i.e. 5000/- is what you would have got back if you had a card that gave you 5% on all spends. As I mentioned, I don't think such a card exists, probably the closest is StanC Ult. at 3.3% but then you don't get AMZ vouchers there. Eterna gives 4.65 % but that is only on the first 41.7K. You could try to create something closer to 5% using a card combo: 5% on AMZ/FK with APay/FKAxis, 5% on utilities with Ace/GPay, 2% everywhere else with Ace, but even then some spends won't be rewarded (whereas they would be in Magnus). So in reality, your break-even point occurs earlier than 4 months because your existing card/card combo gives less than 5%

So
M1 = 6200 - 5000 - 3800 = Loss of 2600
M2 = 12400 - 10000 - 3800 = Loss of 1400
M3 = 18600 - 15000 - 3800 = Loss of 200
M4 = 24800 - 20000 - 3800 = Profit of 1000

@isatyajeet Please see the revised calculation in the earlier post of mine. Sorry about the initial error.
 
Last edited:
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Today I have gone to the Axis branch near me to apply for Magnus on card to card basis. They rejected saying they stopped C2C sometime ago. I said my friends have received the card on C2C, and one of them received very recently last week. They said they don't have any policy like that right now. So I went to a different branch. They said the same thing. They didn't even ask the card/limit I have. Straightforward rejection :\

Can anyone please help?
 
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