Can anyone point me to a current comparison of these 2? Searching for magnus always gives comparison of MB. I am looking for a current comparison of atlas with the regular magnus (not burgundy). TIA.
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Axis Atlas vs standard Magnus (NOT Burgundy)
- Thread starter theglobalinvestor
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- Replies 8
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- atlas axis axis atlas burgundy magnus
gg123
TF Premier
Magnus is not worth it man. Unless and until you have big spends to take advantage of that 35 points per 200 RS spend. even that had some capping introduced like Credit limit + 1.5L.
If your can spend like 7.5L per year on the card to be in gold tier and get milestone benefits. that's 5k miles on 1:2 transfer ratio. Since you're on gold tier you will get the 2.5k points year end renewal benefit. (Not sure about this someone can confirm if it is still there). and it'll only get better if you're in platinum tier (15L spend)
Just go for atlas and spend the same to climb up the tiers. if you're spending over and above 15L just get another card from amex or something. Magnus is not worth it for 12.5K.
gg123
TF Premier
Hey man. Just looked at your referral link and saw ibkr account.
I have an account as well. I currently fund account via ICICI bank wire transfer. I have compared the rates with HDFC and icici was better. but the 1k transfer fee is a little steep in addition to the already high rates
do you have a cost effective way to fund the account?
Avatar Aang
TF Ace
Long story short, get Atlas if you don't expect to cross 1.5L frequently and Substantially.
You can also use the following prompt on ChatGPT. Please modify the figures considering your spending habits/capacity.
"I have two cards. One is Axis Magnus and Other is Axis Atlas. Magnus gives 12 Edge Rewards for every 200 spend. Whereas Atlas gives 2Edge Miles for every 100 spend. Axis magnus points transfer at 5:2 ratio while the Edge miles transfer at 1:2 ratio.
Axis magnus has a feature where the Edge Rewards are 35 per 200 Rs spent for monthly spends above 1.5L upto the credit limit. I have credit limit of 10Lakhs.
Atlas has milestone benefits of 2500 Edge Miles on spending 7.5L and additional 5000 Edge Miles for 15L spends in a card anniversary year.
Now give me comparison for both card for Annual spend of 5L, 10L, 15L, 20L. For 15L and 20L spends consider 3 months where spends are approximately 3L"
You can also use the following prompt on ChatGPT. Please modify the figures considering your spending habits/capacity.
"I have two cards. One is Axis Magnus and Other is Axis Atlas. Magnus gives 12 Edge Rewards for every 200 spend. Whereas Atlas gives 2Edge Miles for every 100 spend. Axis magnus points transfer at 5:2 ratio while the Edge miles transfer at 1:2 ratio.
Axis magnus has a feature where the Edge Rewards are 35 per 200 Rs spent for monthly spends above 1.5L upto the credit limit. I have credit limit of 10Lakhs.
Atlas has milestone benefits of 2500 Edge Miles on spending 7.5L and additional 5000 Edge Miles for 15L spends in a card anniversary year.
Now give me comparison for both card for Annual spend of 5L, 10L, 15L, 20L. For 15L and 20L spends consider 3 months where spends are approximately 3L"
Don't like the 4.15% forex on atlas while magnis is only 2.36% in comparison. Will have 20-25L forex tx in a year and should meet 35/200 most months. Magnus will also be free from second year onwards by meeting 25L annual spend.
Already have an atlas in the family for domestic travel spends but low credit limit so not very usable for Intl business Flights etc.
Preapproved CL is 7.9L with Axis and trying to decide what to add to existing infinia. Not looking to have more than 2-3 cards total.
I use icici money 2world and typically do 5-7L at once per year so it is cost effective for me. I tried to use other banks to save money like Indusind who offered better fx rates but ended up costing me more in other ways. Search for details. I just stick to icici m2w now for reliability and peace of mind. Using ibkr from India is not worthwhile unless you have or plan to have a significant portfolio in time, at which point transfer costs become negligible. Anything less than $10k aum with ibkr from India is a waste imo.
gg123
TF Premier
Keeping it simple, I like that!
looks like Magnus works well for you. Try to get Magnus for burgundy if it's worth your time. better transfer rate and it will be free anyway for you meeting the spend criteria. watch out though. they may ask for invoices for your spends if they find the spends are unusually high
Olympus card would've been great for you due to 2x points on international spends
gg123
TF Premier
makes sense. ICICI just works. and rates are better than HDFC or Axis.
I am looking build sizable portfolio in US. currently building a bigger base in India once I reach my milestone will transfer a tiny % there
Yes, I have been holding out for olympus but doesn't look like it's happening anytime soon?
Yes, better to temper ibkr investments with Trump planning on 5% remittance tax and other shenanigans. Who knows what could happen.
Yes, better to temper ibkr investments with Trump planning on 5% remittance tax and other shenanigans. Who knows what could happen.
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