• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

Credit card to Bank account transfer @0.50% charge

pgarg24

TF Premier
VIP Lounge
Does the transaction get settled immediately or does it take time Bharatnxt
Depends on priority selected. As per screenshot looks like low priority takes 6 days.
I was thinking of doing this for dcb.. but for dcb it is written in screenshot that 1% extra will be charged.. so it will be 1.5% right? Can someone confirm my understanding. Thanks.

Edit - checked for DCB/Amex(incase someone looking for same info)
Dinners can only be done for T+1 priority(24 hrs payment), and the charges are 2.5%.
Considering 3.3% RR, this is still good to complete milestones.

Edit 2 - since DCB would take 1% extra, so charges would be 3.5% (more than Reward rate so not good for dcb)

Wish I had infinia :(
 
Last edited:

P B R G

TF Ace
Does the transaction get settled immediately or does it take time Bharatnxt
Depends on transaction priority. There are total six priorities you can opt for.

Instant - transaction settles instantly.
Same Day - transaction settles within 3 hours.
T+1 - takes 1 business working day.
T+2 - takes 2 working days
T+3 - takes 3 working days
Low - Takes 4 working days.

Saturdays and Sundays are non working days.
 
  • Like
Reactions: ARV

a_tease

TF Buzz
VIP Lounge
folks the MCC is of utility here. trade carefully. especially magnus holders.
If I make a transaction of 1 lakh using Magnus

I lose Rs 500 as transaction charges:

and I gain:

(1lakh/200)x12 = 6000 reward points

500 + 25000 (milestone) = 31,000 reward points

Considering minimum value redemption of 20 paisa
31,000 x .2 = Rs 6,200

What am I missing ?
Edit1: Fixed some calculations
 
Last edited:

CP24

TF Premier
VIP Lounge
If I make a transaction of 1 lakh using Magnus

I lose Rs 500 as transaction charges:

and I gain:

(1lakh/200)x12 = 500 reward points

500 + 25000 (milestone) = 25,500 reward points

Considering minimum value redemption of 20 paisa
25,500 x .2 = Rs 5,100

What am I missing ?
(1lakh/200)x12 = 6000 reward points, no?
 

chenrichy

TF Ace
VIP Lounge
If I make a transaction of 1 lakh using Magnus

I lose Rs 500 as transaction charges:

and I gain:

(1lakh/200)x12 = 500 reward points

500 + 25000 (milestone) = 25,500 reward points

Considering minimum value redemption of 20 paisa
25,500 x .2 = Rs 5,100

What am I missing ?
We will get 6000 ER points for 1L spends in Magnus + 25K ER points for milestone

So total 31000

31000 * 0.2 = Rs. 6200
 

dhiraz

TF Ace
The Process They Follow For KYC And Collect Everything I Mean Everything Which a Scammer Really Wants If He Wants To Do A Scam
 

ak93

TF Ace
VIP Lounge
If I make a transaction of 1 lakh using Magnus

I lose Rs 500 as transaction charges:

and I gain:

(1lakh/200)x12 = 6000 reward points

500 + 25000 (milestone) = 31,000 reward points

Considering minimum value redemption of 20 paisa
31,000 x .2 = Rs 6,200

What am I missing ?
Edit1: Fixed some calculations
Your card may get blocked 😅 They may ask you to justify your transaction.
 

Deathsnatcher

TF Ace
VIP Lounge
Its personal use card not bussiness or corporate card so axis may or will raise query on 1 lac specially if it's all on utility. Best to do some gv purchases(shopping) and some spends here and there.
i made a payment of 1.5l that was some kind of education fees it wont flag it right?
 

ak93

TF Ace
VIP Lounge
i made a payment of 1.5l that was some kind of education fees it wont flag it right?
One time should be fine, not regularly like every month. If it's genuine, no need to worry, just provide proof. Ex: I paid 6L using BharatNxt to buy a car. If they every ask me to justify this transaction, i have proof of purchase.
 
Top