BharatNXT: Best App for Rent Payment with Credit Card!! (@1.59% charges)

[explorer_972]

Someone who completed first txn on the day before yesterday & was settled yesterday, can you please PM me?

I have done that. Please tell me how can I help?

Also, can you please help understand the tax implications of using Bharatnxt for salary class? I am planning on transferring money (1L) from my Magnus CC to a friend's account and vice-versa from his CC to my account but wanted to understand if it will lead to any tax liability?
We are doing this transaction only to reach Magnus milestone and do not have any other reason to make this transaction.

Also, if we keep doing it every month, would Axis bank take any action and block our Magnus card?

Thanks!

 

[SiddharthR]

Also, can you please help understand the tax implications of using Bharatnxt for salary class? I am planning on transferring money (1L) from my Magnus CC to a friend's account and vice-versa from his CC to my account but wanted to understand if it will lead to any tax liability?
We are doing this transaction only to reach Magnus milestone and do not have any other reason to make this transaction.

Also, if we keep doing it every month, would Axis bank take any action and block our Magnus card?

Thanks!

Simply just don't do that, whatever tax implications are there, this can lead to card ban. If you do it every month, very high chances of permanent ban.
@Abhishek012 can tell tax implications as he is too much money rotation tricks

 

[faraaz303]

For Magnus, do you get points on BharatNXT transactions when you're transferring payment to someone's account and it is showing up as Utilities? Or does it get counted only for milestone spends?

 

[Venky]

For Magnus, do you get points on BharatNXT transactions when you're transferring payment to someone's account and it is showing up as Utilities? Or does it get counted only for milestone spends?

We do get points for BharatNXT transactions. I think they are considered at utility payments for now.

My other two transactions are yet to be settled but I am sure they’ll fetch ER too.

 

[kkk]

I have done that. Please tell me how can I help?

Also, can you please help understand the tax implications of using Bharatnxt for salary class? I am planning on transferring money (1L) from my Magnus CC to a friend's account and vice-versa from his CC to my account but wanted to understand if it will lead to any tax liability?
We are doing this transaction only to reach Magnus milestone and do not have any other reason to make this transaction.

Also, if we keep doing it every month, would Axis bank take any action and block our Magnus card?

Thanks!

Card block ho jaega.

 

[Venky]

Card block ho jaega.

Repeated transactions might lead to this for sure. Once-twice, I don’t think will be an issue.

 

[SiddharthR]

Update:
1.BharatNXT increased convenience fees (below stated are inc. GST)

For Retail/Personal Credit Cards:-

1. Quick Pay- 1.71% (Before 3rd March: 1.5%)
2. Classic Pay- 1.53% (Before 3rd March: 1.3%)

No changes for Business Credit Cards.


2. U can now use ur BharatNXT Cash earned by refferal with below steps:
Steps for ₹16K Bank Transfer for Absolutely FREE!! (For New User):

1. Install BharatNXT from above refferal link.
2. Complete SignUp process & KYC {Completely online process with Digilocker}.
3. You will instantly get 100 BNXT Cash in Scratch card.
4. Do transaction of ₹6,500 by using 100 BNXT Cash with Personal Credit Card & Classic Pay.
5. You will get 150 BNXT Cash on the next day after transaction settles.
6. Now, on next day, do transaction of ₹9,800 by using 150 BNXT Cash with Personal Credit Card & Classic Pay.

*By this way you will get ₹16,300 in your bank account from your Credit Card for FREE!!

 

[explorer_972]

Card block ho jaega.

Do you also know about the tax implications of BharatNXT for salaried individuals?

 

[Oscar]

Update:
1.BharatNXT increased convenience fees (below stated are inc. GST)
For Retail/Personal Credit Cards:-
1. Quick Pay- 1.71% (Before 3rd March: 1.5%)
2. Classic Pay- 1.53% (Before 3rd March: 1.3%)

No changes for Business Credit Cards


2. U can now use ur BharatNXT Cash earned by refferal with below steps
Steps for ₹17K Bank Transfer for Absolutely FREE!! (For New User)
Step 1: Install BharatNXT from above refferal link.
Step 2: Complete SignUp process & KYC {Completely online process with Digilocker}.
Step 3: You will instantly get 100 BNXT Cash in Scratch card.
Step 4: Do transaction of ₹6,500 by using 100 BNXT Cash with Personal Credit Card & Classic Pay.
Step 5: You will get 150 BNXT Cash on the next day after transaction settles.
Step 6: Now, on next day, do transaction of ₹9,800 by using 150 BNXT Cash with Personal Credit Card & Classic Pay.
**By this way you will get ₹16,300 in your bank account from your Credit Card for FREE!!

It shows only Classic pay for me after 3rd March with 1.30% which was 1.10% earlier

 

[Wealth is my birth right!]

I have done that. Please tell me how can I help?

Also, can you please help understand the tax implications of using Bharatnxt for salary class? I am planning on transferring money (1L) from my Magnus CC to a friend's account and vice-versa from his CC to my account but wanted to understand if it will lead to any tax liability?
We are doing this transaction only to reach Magnus milestone and do not have any other reason to make this transaction.

Also, if we keep doing it every month, would Axis bank take any action and block our Magnus card?

Thanks!

Pro tip
Pay bill from friends account itself don’t bring money into ur account
Caution
Don’t do every month
Here and there 3 months gap
Also don’t create regular patterns

 

[SiddharthR]

It shows only Classic pay for me after 3rd March with 1.30% which was 1.10% earlier

Yup, that's excluding GST
And Quick Pay not showing because of Holiday (Sat Sun)

 

[Venky]

I made 2 transactions via BharatNXT and both settled before the given ETA. I’ll have to say the experience with BharatNXT has been seem less but make sure you don’t overdo it.

 

[satish0987]

I made 2 transactions via BharatNXT and both settled before the given ETA. I’ll have to say the experience with BharatNXT has been seem less but make sure you don’t overdo it.

Yes i have some transaction failure issues as well
In those cases they will give refund in 3-5 business days
WhatsApp customer support is too good
Hope they continue same in future as well

If anyone want refercode ,you can DM me

 

[Rahul Gupta]

Update:
1.BharatNXT increased convenience fees (below stated are inc. GST)
For Retail/Personal Credit Cards:-
1. Quick Pay- 1.71% (Before 3rd March: 1.5%)
2. Classic Pay- 1.53% (Before 3rd March: 1.3%)

No changes for Business Credit Cards


2. U can now use ur BharatNXT Cash earned by refferal with below steps
Steps for ₹17K Bank Transfer for Absolutely FREE!! (For New User)
Step 1: Install BharatNXT from above refferal link.
Step 2: Complete SignUp process & KYC {Completely online process with Digilocker}.
Step 3: You will instantly get 100 BNXT Cash in Scratch card.
Step 4: Do transaction of ₹6,500 by using 100 BNXT Cash with Personal Credit Card & Classic Pay.
Step 5: You will get 150 BNXT Cash on the next day after transaction settles.
Step 6: Now, on next day, do transaction of ₹9,800 by using 150 BNXT Cash with Personal Credit Card & Classic Pay.
**By this way you will get ₹16,300 in your bank account from your Credit Card for FREE!!

What about old cashback expiry? Did they increase it by the time they didn't let us use it?

 

[SiddharthR]

What about old cashback expiry? Did they increase it by the time they didn't let us use it?

Which cb are you taking about?

 

[Rahul Gupta]

Which cb are you taking about?

The referral cashback we get for referring.

 

[SiddharthR]

The referral cashback we get for referring.

Refferal cb isn't expired yet

 

[satish0987]

Anyone tried paisabazaar step up card on Bharat NXT app

Is it working?

 

[Rahul Gupta]

Refferal cb isn't expired yet

Its written in their policy that referral cashback will be expired after 30 days.

 

[SiddharthR]

Its written in their policy that referral cashback will be expired after 30 days.

Can you share for that?