Questions related to Magnus's milestones?

[satviksehgal]

I have gone through multiple threads on this topic and basis that has a few questions related to the monthly spending milestones.

1. Rent payments up to 45K are counted- What is the best portal to use it? Do not want to be in a situation where 3 months later Axis says the merchant backend code for the transaction did not qualify it as a rent payment.
2. Follow up to 1, can I pay 45K as rent, and 40K as maintenance fees in the same month? Will these 85K of spending count against the milestones? (Rewards may be restricted to 6K points only)
3. Any restrictions on the number of insurance payments one can do in terms of milestones allowance and points accruing?
4. NPS Tier 1 transactions - any limit on the amount? While 50K in tier 1 is allowed, what if I select to do 2*50K transactions in a month? Any issue as far as milestones spend and reward points are concerned?
5. I have a low-tier HDFC Card with no upgrades being provided by HDFC(to millennia or regalia), have some 12K points on the HDFC card, I checked on Smartbuy where it takes me to Gyftr site, where I can get Amazon voucher worth 10K for 8500, can I use Magnus here to pay for 8500? Will this count towards milestones, and regular rewards from Axis? I understand that using Smartbuy one can get 5X reward points with HDFC but I do not want that since the card is pretty low tier but has low benefits and would want to optimize for Magnus over anything else.

 

[Copycat]

Please read the 2 documents I've attached if you have not seen them before

I don't know all of the answers
3) There is a per transaction limit of 6000 points
4) From the NPS side there is no issue. From the Axis bank side I doubt there will be an issue either. I plan to do the same in the next financial year. 50K in each a/c (for my wife's a/c I would get a Magnus add-on and use that to get the 80CCD1(B) benefit which is supposed to be self contribution). Even if you put in 50K in the same a/c NPS won't object

 

[Wealth is my birth right!]

I have gone through multiple threads on this topic and basis that has a few questions related to the monthly spending milestones.

1. Rent payments up to 45K are counted- What is the best portal to use it? Do not want to be in a situation where 3 months later Axis says the merchant backend code for the transaction did not qualify it as a rent payment.
2. Follow up to 1, can I pay 45K as rent, and 40K as maintenance fees in the same month? Will these 85K of spending count against the milestones? (Rewards may be restricted to 6K points only)
3. Any restrictions on the number of insurance payments one can do in terms of milestones allowance and points accruing?
4. NPS Tier 1 transactions - any limit on the amount? While 50K in tier 1 is allowed, what if I select to do 2*50K transactions in a month? Any issue as far as milestones spend and reward points are concerned?
5. I have a low-tier HDFC Card with no upgrades being provided by HDFC(to millennia or regalia), have some 12K points on the HDFC card, I checked on Smartbuy where it takes me to Gyftr site, where I can get Amazon voucher worth 10K for 8500, can I use Magnus here to pay for 8500? Will this count towards milestones, and regular rewards from Axis? I understand that using Smartbuy one can get 5X reward points with HDFC but I do not want that since the card is pretty low tier but has low benefits and would want to optimize for Magnus over anything else.

Single answer to all questions:
Other than wallet loading you’ll get edge rewards for all spending

 

[satviksehgal]

Please read the 2 documents I've attached if you have not seen them before

I don't know all of the answers
3) There is a per transaction limit of 6000 points
4) From the NPS side there is no issue. From the Axis bank side I doubt there will be an issue either. I plan to do the same in the next financial year. 50K in each a/c (for my wife's a/c I would get a Magnus add-on and use that to get the 80CCD1(B) benefit which is supposed to be self contribution). Even if you put in 50K in the same a/c NPS won't object

Thanks so much, yes seen this 6K point limit, which means abt 50K per transaction or 50K transactions in a month. eg- instead of paying 1L to insurance, if I get a payment link and pay 50K today and the rest 50K after 2-3 days, will that be an issue? not able to clearly decipher this.
Yes, getting an Add on card is something that did not strike me, I will now get one. What is usually the process for this? In Amex, it used to be extremely easy.

 

[satviksehgal]

Single answer to all questions:
Other than wallet loading you’ll get edge rewards for all spending

Wow, thanks so much,
but for 1- which app/ website is recommended?

 

[lucifer]

Please read the 2 documents I've attached if you have not seen them before

I don't know all of the answers
3) There is a per transaction limit of 6000 points
4) From the NPS side there is no issue. From the Axis bank side I doubt there will be an issue either. I plan to do the same in the next financial year. 50K in each a/c (for my wife's a/c I would get a Magnus add-on and use that to get the 80CCD1(B) benefit which is supposed to be self contribution). Even if you put in 50K in the same a/c NPS won't object

i think nps no longer accpets credit cards

 

[Wealth is my birth right!]

Wow, thanks so much,
but for 1- which app/ website is recommended?

Hassle free will be paytm
Rest redgiraffee NoBrokerHood all ask for rental agreement
And Reg add on for magnus it’s a big route and I visited branch to apply it 4 days back and got request no which is WIP will update once any progress I get

 

[satviksehgal]

i think nps no longer accpets credit cards

Tier 1 does, tier 2 does not.

 

[Wealth is my birth right!]

i think nps no longer accpets credit cards

T1 accepts cc
T2 only dc or net banking

 

[satviksehgal]

Hassle free will be paytm
Rest redgiraffee NoBrokerHood all ask for rental agreement
And Reg add on for magnus it’s a big route and I visited branch to apply it 4 days back and got request no which is WIP will update once any progress I get

So Paytm it is then.
What about point number 2?

- Follow up to 1, can I pay 45K as rent, and 40K as maintenance fees in the same month? Will these 85K of spending count against the milestones? (Rewards may be restricted to 6K points only)

 

[Wealth is my birth right!]

So Paytm it is then.
What about point number 2?

- Follow up to 1, can I pay 45K as rent, and 40K as maintenance fees in the same month? Will these 85K of spending count against the milestones? (Rewards may be restricted to 6K points only)

Follow up query:
A big yes
Transactions pls do on different dates

 

[Copycat]

i think nps no longer accpets credit cards

NPS Tier I accepts credit cards. Tier II does not

 

[satviksehgal]

What should I do about this?

- I have a low-tier HDFC Card with no upgrades being provided by HDFC(to millennia or regalia), have some 12K points on the HDFC card, I checked on Smartbuy where it takes me to Gyftr site, where I can get Amazon voucher worth 10K for 8500, can I use Magnus here to pay for 8500? Will this count towards milestones, and regular rewards from Axis? I understand that using Smartbuy one can get 5X reward points with HDFC but I do not want that since the card is pretty low tier but has low benefits and would want to optimize for Magnus over anything else.​

 

[Wealth is my birth right!]

What should I do about this?

- I have a low-tier HDFC Card with no upgrades being provided by HDFC(to millennia or regalia), have some 12K points on the HDFC card, I checked on Smartbuy where it takes me to Gyftr site, where I can get Amazon voucher worth 10K for 8500, can I use Magnus here to pay for 8500? Will this count towards milestones, and regular rewards from Axis? I understand that using Smartbuy one can get 5X reward points with HDFC but I do not want that since the card is pretty low tier but has low benefits and would want to optimize for Magnus over anything else.​

You can but smart buy that 1500 off is only for hdfc cards
In general under magnus if u want to buy vouchers pls visit here

E-Gift Cards & Gift Vouchers | Amazing Discount Offers | Axis Bank

Edgerewards Home Page

www.gyftr.com

 

[satviksehgal]

You can but smart buy that 1500 off is only for hdfc cards
In general under magnus if u want to buy vouchers pls visit here

E-Gift Cards & Gift Vouchers | Amazing Discount Offers | Axis Bank

Edgerewards Home Page

www.gyftr.com

yes, but the cart says I need to pay 8500 only, while paying, what if I enter my magnus card, they won't stop my transaction right?

 

[adi]

You can but smart buy that 1500 off is only for hdfc cards
In general under magnus if u want to buy vouchers pls visit here

E-Gift Cards & Gift Vouchers | Amazing Discount Offers | Axis Bank

Edgerewards Home Page

www.gyftr.com

3x for Amazon gvs it shows, if magnus is used while purchasing, am i eligible for 5x or 3x?

 

[Copycat]

3x for Amazon gvs it shows, if magnus is used while purchasing, am i eligible for 5x or 3x?

3x

 

[Wealth is my birth right!]

yes, but the cart says I need to pay 8500 only, while paying, what if I enter my magnus card, they won't stop my transaction right?

AFAIK if u enter other card u won’t get that discount

 

[satviksehgal]

AFAIK if u enter other card u won’t get that discount

So I'm stuck with HDFC points then. To redeem those 12K points, I'd have to spend some 80k on the low tier card, and spending 80k will get another 5X points for which will have to do a similar drill. It's a never ending loop.

Other option is that I take the statement credit at .20 INR and be done with HDFC until they offer a regalia to me (atleast)

 

[Wealth is my birth right!]

So I'm stuck with HDFC points then. To redeem those 12K points, I'd have to spend some 80k on the low tier card, and spending 80k will get another 5X points for which will have to do a similar drill. It's a never ending loop.

Other option is that I take the statement credit at .20 INR and be done with HDFC until they offer a regalia to me (atleast)

Yes if your accumulated RPs are approaching expiration then it’s better to convert to the best option available to avoid loss
And sure if u spend 80k in a premium card the rewards will be n fold