Magnus card: Does it make sense to to spend more than 15 lakh/year on this card?

[atulsingh]

Hello everyone,
I have average monthly expenditures of around 3 lakh/month
1- Does it make send to spend more than 1.25 lakh/month on Magnus? (15 lakh/year for fee waiver)
2- does it make more sense to shift all expenses beyond 1.25 lakh to Axis ace, Icici Amazon cards for better returns? (1.2% vs 2%,5%)

My purpose is to collect miles for air travel and hotel deals.
Thanks

 

[atulsingh]

Get 2nd Magnus ..... thanks me later

Can I hold 2 Magnus??

 

[Avijeet]

Can I hold 2 Magnus??

No ... on your family member's name .. spouse's name or business partner's name ...

 

[ULTRA-MAGNUS]

No ... on your family member's name .. spouse's name or business partner's name ...

How many add-on magnus can be taken for family members?

 

[SubhankarSubhankar is verified member.]

Hello everyone,
I have average monthly expenditures of around 3 lakh/month
1- Does it make send to spend more than 1.25 lakh/month on Magnus? (15 lakh/year for fee waiver)
2- does it make more sense to shift all expenses beyond 1.25 lakh to Axis ace, Icici Amazon cards for better returns? (1.2% vs 2%,5%)

My purpose is to collect miles for air travel and hotel deals.
Thanks

It'd totally depend on how much you usually spend above 1L. If it's additional 1 more lakh or so, you need to get Axis Reserve. Post 1L you get the base 4.8% RP value but on Reserve it'd be 6% value. The card you mentioned and the need you mentioning will not be much helpful. 3L will be giving you waive off, it's good to go, if the spend above 1L is not too high, but it's definitely the other way around if it's like the one I mentioned.

You definitely need to pay the fees but the value will be much greater. You get well compensated with the fees you paid anyway

 

[atulsingh]

It'd totally depend on how much you usually spend above 1L. If it's additional 1 more lakh or so, you need to get Axis Reserve. Post 1L you get the base 4.8% RP value but on Reserve it'd be 6% value. The card you mentioned and the need you mentioning will not be much helpful. 3L will be giving you waive off, it's good to go, if the spend above 1L is not too high, but it's definitely the other way around if it's like the one I mentioned.

You definitely need to pay the fees but the value will be much greater. You get well compensated with the fees you paid anyway

Thanks a lot for your reply

 

[suhas.gopal]

Thanks will try that. I have raised an escalation saying not happy with the resolution. Don't know to whom the escalation goes. Had got that option in the mail to raise escalation which I have done. Will mail Grievance if this also does not workout.

I had mailed to the Escalations team saying that I have 2 other cards with spending spread over all cards . So, they had asked me to send a statements of both cards after which they agreed to upgrade to Infinia FYF and asked to send the filled upgrade form. Mailed them 4-5 days ago and no correspondence from them yet. So waiting to see if they will mail an acknowledgment or send the upgraded card or simply ignore my upgrade form

 

[aryanexpedition]

I am not sure of escalation as I have never tried.
but I have upgraded my DCB to Infinia by sending the upgrade request to ""Grievance.Redressalcc@hdfcbank.com"" and it was very quick, i have received the upgraded card in 1 week

I have an LTF DCB. Do you think it can be upgraded to Infina on LTF basis? Been holding the DCB for almost 2 years now.

 

[chaitanya]

I have an LTF DCB. Do you think it can be upgraded to Infina on LTF basis? Been holding the DCB for almost 2 years now.

If you already have the Magnus Card and planning to use it as a primary card, then it does not make any sense to take Infina, but if you are planning to use Infina as a primary card then you can consider it.

 

[aryanexpedition]

So my Magnus card arrived yesterday after more than a month since I had applied for it. I'm not sure if I'll be able to spend 1 lakh every month to make the most out of it. Does anyone know if I can cancel this card without using and the implications thereof? Many thanks in advance.