Rent Payment Using Axis Magnus Credit Card Doubt

[Akshay9512]

As per the video by Technofino, The rent payent capping for Axis Bank Magnus is given in the screenshot



Now, my current rent is Rs 1 lakh. Since the capping is on per transction. If i pay two different transactions of Rs 50k, will I get 3000 + 3000 Axis Bank Edge Reward points? And will this payment of rent of Rs 1 lakh will be considered against the milestone of Rupees Rs 1 lakh for Axis Magnus?? Please confirm someone?

And also has someone paid Rent using Axis Magnus ? did you recieve the points?

 

[vibhorgupta96]

Following. I have similar doubts.

 

[hashiro7]

Now, my current rent is Rs 1 lakh. Since the capping is on per transction. If i pay two different transactions of Rs 50k, will I get 3000 + 3000 Axis Bank Edge Reward points? And will this payment of rent of Rs 1 lakh will be considered against the milestone of Rupees Rs 1 lakh for Axis Magnus?? Please confirm someone?

And also has someone paid Rent using Axis Magnus ? did you recieve the points?

Rent Payment will be considered against the milestone of INR 1 Lakh. regarding the rent payment over 50k have no idea.

 

[alphamagnus]

I have paid 45000 rent on Cred using Axis Magnus. I have received the points. It is my second month. No idea abt milestone but as per T&C it is eligible. Magnus limit is 50k and Reserve is 100k.

 

[vina]

Magnus card is not letting me pay rent; I tried nobroker, magicbricks and housing.com; each time it says "payment blocked due to security reasons"

has anyone else faced this?

 

[hashiro7]

Magnus card is not letting me pay rent; I tried nobroker, magicbricks and housing.com; each time it says "payment blocked due to security reasons"

No, I am not facing such an issue. Try Freecharge and what is the transaction amount? keep it below 45k

 

[Mvkreddy]

same i called customer care and said only 9k per day limit on 3rd party apps like paytm , phone pay housing

 

[vina]

No, I am not facing such an issue. Try Freecharge and what is the transaction amount? keep it below 45k

Unfortunately, freecharge is not working; it seems my landlord has different name spellings on bank account and PAN card

 

[vina]

same i called customer care and said only 9k per day limit on 3rd party apps like paytm , phone pay housing

they didn't tell me anything like that
is there a limit on how many times rent can be paid in a month?

 

[vina]

No, I am not facing such an issue. Try Freecharge and what is the transaction amount? keep it below 45k

ok, I was trying to send 48230 which was my rent +2000 (by mistake I paid 2000 less last month to my landlord)
even 46230 wasn't going through
after your advice I tried 40000 and that went through on housing.com
do you know how many times rent can be paid on Magnus card in a month? I'll try to send the rest also

 

[Mvkreddy]

they didn't tell me anything like that
is there a limit on how many times rent can be paid in a month?

for me 25000 also failed

 

[hashiro7]

ok, I was trying to send 48230 which was my rent +2000 (by mistake I paid 2000 less last month to my landlord)
even 46230 wasn't going through
after your advice I tried 40000 and that went through on housing.com
do you know how many times rent can be paid on Magnus card in a month? I'll try to send the rest also

I haven't tested all the possibilities. though as per my knowledge.
a) Try to keep the transaction at a max of 45k for Rent Payment.
b) You won't get any default reward points after 50k Rent Payment.
c) You can do multiple transactions of 45k for Rent Payment. *not tested/tried*

 

[CMG]

Magnus card is not letting me pay rent; I tried nobroker, magicbricks and housing.com; each time it says "payment blocked due to security reasons"

has anyone else faced this?

This is a common issue for new cards that don't have large purchases before


Contact customer care and tell them that was a legitimate transaction. Then another person will call you to verify the transaction. You will also receive a mail regarding this. Reply to it mentioning that those transactions were legitimate and to unblock the card.

 

[vina]

for me 25000 also failed

let's see how it goes next month for me

 

[vina]

I haven't tested all the possibilities. though as per my knowledge.
a) Try to keep the transaction at a max of 45k for Rent Payment.
b) You won't get any default reward points after 50k Rent Payment.
c) You can do multiple transactions of 45k for Rent Payment. *not tested/tried*

I wrote to them and they replied:

"... However, You can use the card twice in the same month but not for the same rent which you already paid for 40,000.00/- alternatively you can use it for other house rent, office rent or maintenance. ..."

I have asked them:

(1) By "same rent" in the above - I take it that you mean rent for the same property, is that correct?
(2) what is the maximum amount that will actually go through; like I wrote before my rent presently is 46230 (will increase 5% next June) so I would like as much of it to go through this channel as possible
(3) office rent : wouldn't that be counted a business transaction?


let's see what they say now

 

[vina]

This is a common issue for new cards that don't have large purchases before


Contact customer care and tell them that was a legitimate transaction. Then another person will call you to verify the transaction. You will also receive a mail regarding this. Reply to it mentioning that those transactions were legitimate and to unblock the card.

my card wasn't blocked; they just would refuse the transaction after taking in the otp and then I would get email and sms saying "transaction declined due to security reasons"

I think people have been paying themselves "rent" - this is common knowledge in the industry now my fintech friends have told me about this. There is also Yaper app

they will eventually figure out better ways to plug this fraud (I'm not sure legally it is fraud, but reasonably it is), in the meantime we have to endure this.

 

[vina]

my card wasn't blocked; they just would refuse the transaction after taking in the otp and then I would get email and sms saying "transaction declined due to security reasons"

I think people have been paying themselves "rent" - this is common knowledge in the industry now my fintech friends have told me about this. There is also Yaper app

they will eventually figure out better ways to plug this fraud (I'm not sure legally it is fraud, but reasonably it is), in the meantime we have to endure this.

Also, the benefits are incredibly generous, I don't know how long it will last

 

[TheMentalist]

I wrote to them and they replied:

"... However, You can use the card twice in the same month but not for the same rent which you already paid for 40,000.00/- alternatively you can use it for other house rent, office rent or maintenance. ..."

I have asked them:

(1) By "same rent" in the above - I take it that you mean rent for the same property, is that correct?
(2) what is the maximum amount that will actually go through; like I wrote before my rent presently is 46230 (will increase 5% next June) so I would like as much of it to go through this channel as possible
(3) office rent : wouldn't that be counted a business transaction?


let's see what they say now

That's an irrelevant reply by Axis. They can't know whether it's same rent or different rent, if you are not paying directly on their site

You will get even more ridiculous replies to your mail

 

[CMG]

my card wasn't blocked; they just would refuse the transaction after taking in the otp and then I would get email and sms saying "transaction declined due to security reasons"

I think people have been paying themselves "rent" - this is common knowledge in the industry now my fintech friends have told me about this. There is also Yaper app

they will eventually figure out better ways to plug this fraud (I'm not sure legally it is fraud, but reasonably it is), in the meantime we have to endure this.

Happened to me too when initated a transaction for rent. I called the customer care to unblock for all transactions. Here is the screenshot of the message



When i repeated this, i received an email


After this, they unbloked for all transactions and i was able to pay the rent.

 

[vina]

That's an irrelevant reply by Axis. They can't know whether it's same rent or different rent, if you are not paying directly on their site

You will get even more ridiculous replies to your mail

I'm actually curious what they say, and better to get this stuff in writing from them just in case I need to waive it in their face in three months (Which is when they'll give the milestone reward)