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Axis Magnus Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)
- Thread starter shibili
- Start date
MayankBamboria
TF Buzz
Let's assume that magnus for burgundy is not free, and since they are issuing new card for existing Magnus holders (for burgundy), will they consider spends till date for annual fees calculation and whether the criteria will bhi 15 lakhs or 25 lakhs.
If someone paid the fees in last few months and had some good amount of spends, issuing new card to them may mean that they have to achieve now the new milestone of 25 lakhs to get card free for next year and spends till date may not be considered.
If someone paid the fees in last few months and had some good amount of spends, issuing new card to them may mean that they have to achieve now the new milestone of 25 lakhs to get card free for next year and spends till date may not be considered.
CCUser_1999
TF Select
For any card to card change, generally they will not reset your annual cycle. In my view you will still be eligible for fee waiver based on your original annual cycle and expenses till now will be considered.
Saying that, Axis is special. Will have to wait and watch.
drsel
TF Prestige
This analysis has not considered the 24% return on traveledge portal using Magnus Burgundy
drsel
TF Prestige
However the fares on traveledge are generally around 8 to 10% higher then direct airline booking or travel aggregators like goibibo MakeMyTrip, Cleartrip after applying the credit card coupon code to get 10% discount and including their convenience fee.
drabhishekladdha
TF Select
Same with smartbuy I guess ..but ability to use large rewards ir make a large number of edge miles compensate you well ,provided you make make most out of miles or rewards
Actually fares on traveledge are mostly inline with the market fares without any convenience fee. For low value domestic tickets, most of the times discounts other portals offer are anyways lower than convenience fee so TE offers you similar discount in a way by not charging convenience fee plus 24% with Burgundy. Big game changer for me atleast.
For high value international tickets, tou do get 7.5 to 10% discount on other portals. But most of the times that is also capped. On TE you get 24% without convenience fee. Capped at 200000 spend a month. But till 2 lakhs it's great value
It does happen at times that tickets on one portal are cheaper than the others and TE could be higher for a particular tickets. Especially in international. But most if the times that's not the case
For high value international tickets, tou do get 7.5 to 10% discount on other portals. But most of the times that is also capped. On TE you get 24% without convenience fee. Capped at 200000 spend a month. But till 2 lakhs it's great value
It does happen at times that tickets on one portal are cheaper than the others and TE could be higher for a particular tickets. Especially in international. But most if the times that's not the case
I have checked on multiple occasions and found that the fare is the same as that on the airline website, and in some cases less after convenience fees charged on the airline website are taken into account.
This assumes 4.8% post tax cost for maintaining Burgundy. Assuming one is taking it out from the FD, the realistic cost is 7-3% pre tax and about 2.8% post tax. As in you will earn 3% on Saving vs 7% on FD and pay 30% tax, ignoring surcharges etc. One could be in a different tax bracket and this calculation would change but realistically it will be in 2.8-3.5% range and not 4.8% is what I think. One international ticket for a couple could make up for it and more you travel, more sense it makes
However, if one is not booking revenue tickets at all, given lots of points in account possibly, then recouping even 28-35k could become challenging and I agree that it doesn't make too much sense for many people to take Burgundy
But if you are someone who spends reasonable amount on travel, Could be airtickets or 5 star hotels, which also have booked through TE many times at similar prices as other portals, it makes perfect sense to go for Burgundy. Or you are someone who just has to shift TRVs to Axis without any real significant cost, then also it makes sense IMHO
All this assuming Axis gives 5:4 to Burgundy, which also they have yet to implement. If that doesn't happen, then this entire discussion has no meaning. And neither has Magnus.
drsel
TF Prestige
I would book only international air tickets on the traveledge portal to get 24%.
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drsel
TF Prestige
If the 5x rewards of traveledge were removed, then Magnus Burgundy card may not be worth paying for.
True..I also use cleartrip a lot. Not only for Kotak 35% on international but domestic too. And if not Kotak, there is always one or the other 35%.
But they add about 5% convenience fee and are usually a bit higher than the others so you end up getting 20-25% discount in comparison to the other portals.
Then for hotels there is Infinia for 33% but that is capped. I reach my 15k Bonus limit on Infinia and then move to TE if need be. Travel edge I mentioned particularly for 5 star hotels, where cleartrip or other portals' discount vouchers don't work. Prices are pretty similar across the board. First option is Infinia for those and after hitting the cap, Travel edge for me
drsel
TF Prestige
Yes i verifed my card and made a booking, but I did not see any 50% discount coupon code.
I only saw the 40% discount code for Magnus and 15 to 30% discount on other cards.
EazyDiner customer care says that the coupon code will come after the time of reservation, at the time of paying the bill and not before that
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gg123
TF Premier
My RM said something similar. once they announce it and start taking applications. he said he'll process my application
But I might not be eligible for the Magnus card on paper. because I am not a HNI. I make around 60-70k ( I meet burgundy criteria under family ID), I do have good credit score and ACE card with 90k Limit and ICICI platinum with 2.7L limit
But my RM is saying that you'll be approved. and he said you just need 7L NET income per year for Magnus and I am not sure about this. I have had bad experiences like this with axis before.
Right now I can see SELECT card pre approved in mobile app for 0 joining and 0 annual. and I am thinking about taking it and hoping once SELECT is replaced by Magnus with charges waiver they might upgrade this card to Magnus. but I am hesitant to apply.
Any suggestions from anybody?
People with 0 income were getting magnus 😀
