Which MCC for best rewards on Magnus?

[samridhhisen]

Hi community

I hold a Magnus card and run a business.

I make payment to commission broker every month of ₹1.2L.

Instead of using bharatnxt and getting flagged , I have convinced the vendor to get registered on a payment gateway.

He is not that tech savy and has left it on me to get registered.

After several research I found CashFree is with best rates 1.9%.(Any better rate provider please suggest)

What category should I select while registering so that the MCC allocated gives best reward and arise no suspicion on business trnx.( As it is asking me category , I think it can be done ).

Do you think there will be any loophole and chance to get cought?
(I will pay few bucks extra to agent so to reach the actual amount)

 

[Wealth is my birth right!]

Hi community

I hold a Magnus card and run a business.

I make payment to commission broker every month of ₹1.2L.

Instead of using bharatnxt and getting flagged , I have convinced the vendor to get registered on a payment gateway.

He is not that tech savy and has left it on me to get registered.

After several research I found CashFree is with best rates 1.9%.(Any better rate provider please suggest)

What category should I select while registering so that the MCC allocated gives best reward and arise no suspicion on business trnx.( As it is asking me category , I think it can be done ).

Do you think there will be any loophole and chance to get cought?
(I will pay few bucks extra to agent so to reach the actual amount)

The concern here will be u r using the card for whole 1lac to only 1 merchant which may trigger suspicious
Reg mcc u can give grocery store since all cards are generous in that mcc no exclusivity there

 

[samridhhisen]

The concern here will be u r using the card for whole 1lac to only 1 merchant which may trigger suspicious
Reg mcc u can give grocery store since all cards are generous in that mcc no exclusivity there

I think Magnus have fuel surcharge waiver. I can make fuel spends of ₹40K per month for me and my family. Is there any cap on fuel spends waiver or milestone consideration

 

[Wealth is my birth right!]

I think Magnus have fuel surcharge waiver. I can make fuel spends of ₹40K per month for me and my family. Is there any cap on fuel spends waiver or milestone consideration

No cap for fuel on milestones
But for any swipe if it’s less than 4001/- u won’t get edge rewards it’s only surcharge reversal

 

[samridhhisen]

No cap for fuel on milestones
But for any swipe if it’s less than 4001/- u won’t get edge rewards it’s only surcharge reversal

If I pay cumulative at petrol pump for ₹40 K , will I get both waiver and rewards?

 

[samridhhisen]

No cap for fuel on milestones
But for any swipe if it’s less than 4001/- u won’t get edge rewards it’s only surcharge reversal

Selected Retail and Shopping->Others. Good to go?

 

[samridhhisen]

Selected Retail and Shopping->Others. Good to go?

@Wealth is my birth right! I very much want to avoid this hassle and want to use BaharatNxt , do you think it will flag my account?

 

[James2307mr]

I think Magnus have fuel surcharge waiver. I can make fuel spends of ₹40K per month for me and my family. Is there any cap on fuel spends waiver or milestone consideration

Magnus Fuel surcharge waiver is only for fuel transactions between Rs. 400 and Rs. 4000 and no Edge Reward points for these are awarded.

For transactions greater than Rs. 4000, no fuel surcharge waiver but you do earn edge reward points. So plan accordingly.

You can also check this, it might help you in deciding the MCC you want your vendor to get registered in : https://www.technofino.in/community...-31st-mar-2023-03-10-pm-ist.9863/#post-157844

 

[samridhhisen]

Magnus Fuel surcharge waiver is only for fuel transactions between Rs. 400 and Rs. 4000 and no Edge Reward points for these are awarded.

For transactions greater than Rs. 4000, no fuel surcharge waiver but you do earn edge reward points. So plan accordingly.

You can also check this, it might help you in deciding the MCC you want your vendor to get registered in : https://www.technofino.in/community...-31st-mar-2023-03-10-pm-ist.9863/#post-157844

thanks for the details info and for reference.
Do you think using BharatNXT will be a more simple option ? I am only doing the current process (1.9%) charge only to avoid card block. Is it worth it?