Axis Magnus Advice on whether to keep or cancel Axis Magnus credit card with high annual fee.

[Gabbar.Singh]

I currently hold five credit cards as follows:

1. Axis Magnus
2. HDFC DCB
3. IDFC Wealth CC
4. ICICI Sapphiro CC
5. PNB RuPay Select CC

While the last four cards are lifetime free, Axis Magnus is not. Although I received it for free in the first year, I am now required to pay Rs 12000 annually, which is a significant amount for me as a retired individual.

I enjoy the benefits of the Priority Pass with eight guests per year, but I cannot spend Rs 15 lacs on Axis Magnus to make it free for the next year. My annual expenses are around Rs 10 lacs (now but may be in 15 lacs in future), with a significant portion going towards travel.

I am in a dilemma about whether to keep Axis Magnus or not. I do not see any way to recover the fee of Rs 12000 by way of rewards from Axis Magnus.

I value your expertise and look forward to hearing from you soon.

 

[Pavan]

On same boat ++ I have MRCC.
Reason am holding i might close DCB soon since it's not LTF

 

[WhoU]

I currently hold five credit cards as follows:

1. Axis Magnus
2. HDFC DCB
3. IDFC Wealth CC
4. ICICI Sapphiro CC
5. PNB RuPay Select CC

While the last four cards are lifetime free, Axis Magnus is not. Although I received it for free in the first year, I am now required to pay Rs 12000 annually, which is a significant amount for me as a retired individual.

I enjoy the benefits of the Priority Pass with eight guests per year, but I cannot spend Rs 15 lacs on Axis Magnus to make it free for the next year. My annual expenses are around Rs 10 lacs (now but may be in 15 lacs in future), with a significant portion going towards travel.

I am in a dilemma about whether to keep Axis Magnus or not. I do not see any way to recover the fee of Rs 12000 by way of rewards from Axis Magnus.

I value your expertise and look forward to hearing from you soon.

You will get TataCliq voucher of 10k you can probably value it at 8500. So effectively you are paying only 3300.
I would say it is definitely worth it especially if you travel frequently.

 

[Namans]

I currently hold five credit cards as follows:

1. Axis Magnus
2. HDFC DCB
3. IDFC Wealth CC
4. ICICI Sapphiro CC
5. PNB RuPay Select CC

While the last four cards are lifetime free, Axis Magnus is not. Although I received it for free in the first year, I am now required to pay Rs 12000 annually, which is a significant amount for me as a retired individual.

I enjoy the benefits of the Priority Pass with eight guests per year, but I cannot spend Rs 15 lacs on Axis Magnus to make it free for the next year. My annual expenses are around Rs 10 lacs (now but may be in 15 lacs in future), with a significant portion going towards travel.

I am in a dilemma about whether to keep Axis Magnus or not. I do not see any way to recover the fee of Rs 12000 by way of rewards from Axis Magnus.

I value your expertise and look forward to hearing from you soon.

If you’re enjoying priority pass free visits at least 4 times a year I think you should keep it.
11800 (fees) less 10000 (Tata cliq voucher) so net outflow is only rs 1800.

Plus if you can transfer your expenses to Magnus and achieve the 1 lakh milestone even in 2 months, you will get 40,000 miles which is worth rs 40,000 at least.

If you travel by air, use travel edge and the benefits will multiply.

 

[SUCHI51]

IMHO, Infinia and DCB have pretty much devalued, and are in a kind of steady state now (they cant really go any lower with the super premium tag), Magnus on the other hand is where DCB/Infinia were in pre covid days - at some point magnus has to devalue (and its happening) - SO may be pay the fee for another year - enjoy till. the party lasts, and take this call next year. the total outflow for now would be around 1800 only

 

[Gabbar.Singh]

If you’re enjoying priority pass free visits at least 4 times a year I think you should keep it.
11800 (fees) less 10000 (Tata cliq voucher) so net outflow is only rs 1800.

Do they give Tata Cliq voucher every year? The reading on the website indicates so.

 

[cardwizard]

Do they give Tata Cliq voucher every year? The reading on the website indicates so.

Yes, tata cliq voucher is given every year.

 

[Namans]

Do they give Tata Cliq voucher every year? The reading on the website indicates so.

Yes, every year on payment of fees.

 

[drshenoy]

if u can spend Rs 1L for 3 months, u will get extra Rs 15K worth rewards. i think you should not close it

 

[Prime Carlsen]

You will get TataCliq voucher of 10k you can probably value it at 8500. So effectively you are paying only 3300.
I would say it is definitely worth it especially if you travel frequently.

Why do you say we can value it at 8500 only? Can't it be used as full amount to pay on their store?

 

[anirban.choudhury]

if u can spend Rs 1L for 3 months, u will get extra Rs 15K worth rewards. i think you should not close it

What’s this 15k extra ?

 

[4uziaul]

What’s this 15k extra ?

I think he is talking about Edge Rewards from the monthly milestone.

 

[VGisHere]

25k Edge RP * 3 = 75k RP
Effective value 75k * 0.2 = Rs 15k

 

[WhoU]

Why do you say we can value it at 8500 only? Can't it be used as full amount to pay on their store?

You can use full 10000 of course. What I meant was that you can buy tatacliq gv from gyftr which gives you some reward points and stuff in tatacliq is usually priced more as compared to Amazon/FK/Myntra.

 

[Prime Carlsen]

You can use full 10000 of course. What I meant was that you can buy tatacliq gv from gyftr which gives you some reward points and stuff in tatacliq is usually priced more as compared to Amazon/FK/Myntra.

Oh, ok ok. Thanks for clarifying. I think even with these caveats, renewal benefit such as this makes up sufficiently for the annual charges.

 

[abhishek0882]

25k Edge RP * 3 = 75k RP
Effective value 75k * 0.2 = Rs 15k

And that is if the Edge RPs are not used with Transfer Partners. Since @Gabbar.Singh mentioned he travels frequently, this could be used for much better value.

IMHO, Infinia and DCB have pretty much devalued, and are in a kind of steady state now (they cant really go any lower with the super premium tag), Magnus on the other hand is where DCB/Infinia were in pre covid days - at some point magnus has to devalue (and its happening) - SO may be pay the fee for another year - enjoy till. the party lasts, and take this call next year. the total outflow for now would be around 1800 only

I think this makes a lot of sense.

 

[drshenoy]

I think he is talking about Edge Rewards from the monthly milestone.

yes

 

[Dai]

would suggest not to close the card as voucher is compensated

 

[purush]

How this question arrives first of all.

 

[Salvo08]

I currently hold five credit cards as follows:

1. Axis Magnus
2. HDFC DCB
3. IDFC Wealth CC
4. ICICI Sapphiro CC
5. PNB RuPay Select CC

While the last four cards are lifetime free, Axis Magnus is not. Although I received it for free in the first year, I am now required to pay Rs 12000 annually, which is a significant amount for me as a retired individual.

I enjoy the benefits of the Priority Pass with eight guests per year, but I cannot spend Rs 15 lacs on Axis Magnus to make it free for the next year. My annual expenses are around Rs 10 lacs (now but may be in 15 lacs in future), with a significant portion going towards travel.

I am in a dilemma about whether to keep Axis Magnus or not. I do not see any way to recover the fee of Rs 12000 by way of rewards from Axis Magnus.

I value your expertise and look forward to hearing from you soon.

I'll suggest you to keep it as one is getting the joining fee back in the form of Tata Cliq vouchers.