What Is The Axis Application Quota

What Is The Axis Application Quota – Axis Bank has introduced a number of improvements to its credit card portfolio, one of the best being the Magnus credit card launched in 2019. Unfortunately for the bank, like many of our peers, we were unable to live up to the potential of this launch as the 2020 COVID-19 pandemic hit us and the world ground to a halt.

However, as Covid-19 eased, Axis Bank focused on the card and made it more attractive to the affluent/HNI category. I applied for this card last year and in this post I would like to talk about the details of the card and my experience with it.

What Is The Axis Application Quota

What Is The Axis Application Quota

One of the first things you notice about the card is its metal profile, which is more similar to the Amex Platinum card than any other metal card in India. This card fits securely in your hand and serves as a conversation starter. Moreover, since the numbers are imprinted on the metal, there is no risk of them being erased over time. Originally issued on the MasterCard platform, the card is now issued as a Visa Infinite credit card.

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Axis Bank Magnus Credit Card is for high net worth/HNI customers. The card is designed to provide cardholders with lifestyle benefits in travel, dining, movies and wellness. In 2022, Axis Bank added a new reward to the card and offered 25,000 bonus EDGE to users who spend INR 100,000 (INR 100,000) per month. Then they also added shipping partners. The overall combination makes it one of the best spending cards in India.

Axis Bank Magnus Credit Card can be used online/offline. Eligibility for the card is an annual income of INR 1.8 lakh whether employed or self-employed. You can also apply per card by submitting another credit card statement with a minimum approved balance of INR 5 lakh on your card. The card is available for customers who already have a banking relationship with Axis Bank and for customers who are new to the bank. Apply here to get started.

After spending INR 1.5 lakh in a membership year, the dues will be waived for the next membership year.

Axis Bank Magnus credit card link/renewal fee is INR 10,000 + GST ​​(INR 11,860 nett). In return, the bank offers a free domestic flight ticket worth up to INR 10,000 (tax included) or a TataCLIQ voucher worth INR 10,000. A payment link will be sent to you upon registration of your first card transaction during each annual membership period. You have 6 months after receiving the letter to apply for a benefit.

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TataCLIQ Coupons will be converted into TataCLIQ Cash valid for one year and credited to your account once added. For a free ticket, you can get an Economy or Premium Economy ticket and it must be booked on Yatra.com. There is no limit on the number of tickets, but for tickets above INR 10,000, the balance will be charged from your card.

Magnus offers 12 EDGE rewards / INR 200 spent on the card. As with everything else on the Axis Bank credit card, spending is rounded up to the nearest INR 200 and you get points for doing so. For example, if you spend INR 1448, the points credited will be 84 EDGE Rewards. These points are usually calculated after the transaction is completed or within a day or two. Here you can use your bank customer ID to see how many points you have earned.

However, if you spend INR 1,00,000 in a calendar month, Axis Bank will also give you 25,000 bonus points (EDGE Rewards), which will usually be credited to your account within 90 days of the last spending month. For example, I made October 2022 the first month of consumption and the points will arrive on time in January 2023. Points for November 2022 will also count in February 2023.

What Is The Axis Application Quota

The bonus of 25,000 points per month is not a promotion, it is a full card benefit. The only expenses that don’t count towards this benefit are wallet fees, and for the next few days, credit card rental payments don’t count either. Many people have questions about the 90-day schedule. However, the bank is at liberty to determine the schedule of such generous distribution. They may want to prosecute fraudulent practitioners who will do anything to generate payment.

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In addition, Axis Bank offers a number of other benefits that allow you to earn bonus points with your Magnus credit card:

You can use Axis Bank Magnus Credit Card EDGE Rewards for many use cases. The most basic that has been offered for a long time is to use them for INR 0.20 per EDGE Rewards point. But I also said Axis Bank recently added remittance partners, here is the list of 19 remittance partners and remittance ratios:

As you can see, Axis Bank covers all alliances, national operators and international hotel chains with a very generous transfer ratio, allowing Magnus to please those who want to use their miles and points for a comfortable life. 5 of these programs have direct transfer capabilities. Meanwhile, the rest will take up to 10 working days to complete the delivery.

While Axis Bank’s Magnus credit card is designed to let you spend globally, the main focus is on travel. The bank offers primary and secondary cardholders unlimited access to lounges across India after swiping their card. Not only that, but the card comes in a box with an unlimited use priority pass that you can use to enter lounges outside of India. This Priority Pass also allows you to visit up to eight guests for free during your membership year. This means that in a year you can have 8 +1 to join the lounge or 8 friends to join once a year.

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In addition to these two benefits, Axis Bank also offers eight free services at airports in India every year. You can avail this welcome and welcome at 29 airports in India. This service must be booked online at least 48 hours before departure. You can also bring companions, but they must be announced in advance and will be deducted from your quota of 8 services per year.

I suggest you schedule an appointment a day or two before the end of the schedule, as your request has been pushed to the point where it is a very low priority for Aspire Lifestyle. These people provide concierge services for Axis Bank. They usually confirm the service on the day of travel or up to a day before. In a recent case, when I flew from Delhi airport in December 2022, I made my request about 15 days in advance and did not hear any confirmation from the service until 5 hours before departure. At this point I had to call them and they declined the request, although they didn’t admit it.

Some of the other Magnus credit card benefits fall into the entertainment and wellness categories. In partnership with Bookmyshow, Magnus card members get buy 5, get 1 free tickets every month on their card, for both movie and non-movie categories, with a limit of INR 500 for free tickets. Axis Bank also partners with EazyDiner to offer up to 40% off meals twice a month and up to $3,000 annually.

What Is The Axis Application Quota

Fuel pump costs do not score bonus points for Magnus. Instead, they get a 1% discount on fuel surcharges. They still charge monthly and annual fees. In addition, there is currently a limit of INR 100,000 on insurance payments for the award of points per transaction. Lease transactions have been phased out since March 5, 2023. Forex fees are 2% + GST, which is lower than other market players.

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Overall, Axis Bank Magnus credit card has a very lucrative structure and is an excellent card for those who regularly spend more than INR 100,000 per billing cycle. The card comes with an annual voucher worth INR 10,000 to redeem the card every year. You also get 12 EDGE rewards / spend INR 200 and also get 300,000 bonus points for spending INR 1.2 lakh on the card per year (25,000 rewards per month for integrated INR). Add to that a nice list of shipping partners and you have a card that predicts everything

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