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.

 

[neogen]

I think Axis Magnus is a no brainer.. it self compensates very well

 

[Consultant]

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[4uziaul]

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[Salvo08]

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Ya. That's for the vouchers

 

[ashishp]

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

Yes, with that voucher.. buy gold coins on tata cliq. It will give you lot of appreciation.