Revised terms and conditions for Spend based milestones

[AsB]

Devaluation alert
Affected cards- all axis bank credit cards
Effective from date- 5/03/2023
1% surcharge for rent payment upto Rs. 1500 per transaction.
No Reward points for Insurance premium payment.
Rent, Wallet transactions will not be counted towards monthly milestone benefit & annual fees reversal.



Full details here - http://Axbk.in/UNlPi9NbP1k

 

[Sandy Singh]

Vistara card was never part of.milestone hence not mentioned but still vistara earns miles just like magnus earns er

Vistara has milestone benefits, you get free tickets. I don't know what you mean by Vistara was never part of milestone. XD

 

[Sharjeelshaikh]

Vistara has milestone benefits, you get free tickets. I don't know what you mean by Vistara was never part of milestone. XD

Ohk . that way .I thought er milestone

 

[anirban.choudhury]

Ohk . that way .I thought er milestone

I don’t think vistara cards earn ER, they directly earn CV points and there was no milestone for points , milestone are for tickets like on spend of 2.5 lakhs 1 business class ticket. Rent and insurance are still counted towards that milestone.

 

[jack333]

I think sc ultimate

Someone said bob eterna also giving

 

[anirban.choudhury]

Someone said bob eterna also giving

Never tried rent payments on eterna , but I think they devalued the card.

Will try once and update

 

[jack333]

I was also thinking the same but Someone said for rents its not devaluated

 

[Copycat]

Ok, here is the response from Axis Magnus Support (Premium.Experience@axisbank.com)
@helloworld @cmg @004archit

This is what I wrote

I just wanted to confirm that the following will hold true after 5th March 2023 for my Magnus card

a) That Insurance payments will continue to earn ER points at the rate of 12 points per Rs 200, upto a maximum limit of 6000 ER
b) That Insurance payments will be included in the monthly spend milestone calculation.
c) That Insurance payments will be included in the annual spend milestone calculation.

This is what they replied

We would like to inform you that with effect from 05-03-2023 spends threshold for Milestone benefits will exclude rent and wallet transactions.

A) We would like to inform you that With effect from 22nd September 20, edge rewards accrual on transactions towards insurance spends on your Magnus credit card will be capped at 6000 per transaction. It means as per the product feature on Magnus, you will earn 12 EDGE REWARDS per Rs. 200 transaction. But in the case of transactions pertaining to insurance premium, you can earn maximum of 6000 EDGE REWARDS per transaction.

You may visit the following link to know the complete terms and conditions: https://edgerewards.axisbank.co.in/terms-conditions?channel=Desktop

B) As of now for milestone benefit of 25000 edge reward points on achieving the spends of 1 Lakh in a calendar month, the wallet transactions were not considered as spends for milestone benefit. However, effective from 05-03-2023 the rental transaction spends will also not be considered for milestone benefit.

C) With regards to insurance spends the insurance spends will be considered for milestone benefit of annual fee waiver. However, spends threshold for Annual Fee reversal will exclude rent and wallet transactions.

 

[anirban.choudhury]

Ok, here is the response from Axis Magnus Support (Premium.Experience@axisbank.com)
@helloworld @cmg @004archit

This is what I wrote


This is what they replied

So there is no changes to Magnus with respect to insurance

 

[vina]

Ok, here is the response from Axis Magnus Support (Premium.Experience@axisbank.com)
@helloworld @cmg @004archit

This is what I wrote


This is what they replied

In places like Bangalore, many people who are eligible for this card on the basis of income already pay over 50k in rent per month; reaching the milestone had become too easy

 

[CardUser28]

What if i pay my March rent before 5th, will that be counted towards March month milestone benefit, sorry if someone already asked this i this thread before.

 

[004archit]

What if i pay my March rent before 5th, will that be counted towards March month milestone benefit, sorry if someone already asked this i this thread before.

As per the t&c

Yes

 

[bala.sakthi1983]

What if i pay my March rent before 5th, will that be counted towards March month milestone benefit, sorry if someone already asked this i this thread before.

yes they do..

 

[sahil624]

If one pays rent through Magnus card post 5th March on Payzapp (through Red Girraffe), will that be counted as insurance payment or rent payment?

 

[anirban.choudhury]

If one pays rent through Magnus card post 5th March on Payzapp (through Red Girraffe), will that be counted as insurance payment or rent payment?

Only time will tell, if your base rewards are limited to 50k then probably it won’t be counted as milestone post 5th March

 

[caabhi]

If one pays rent through Magnus card post 5th March on Payzapp (through Red Girraffe), will that be counted as insurance payment or rent payment?

I believe they are working on pulling up correct MCC and that's why new magnus cards are not getting option to onboard on payzapp. My gut feel is they will plug this soon

 

[vina]

Only time will tell, if your base rewards are limited to 50k then probably it won’t be counted as milestone post 5th March

From March 6th will they count insurance payment towards milestone?

 

[bala.sakthi1983]

From March 6th will they count insurance payment towards milestone?

yes... only for Milestone rewards..

 

[SamPtnk]

Does ace gets Cb for insurance ?

 

[bala.sakthi1983]

Does ace gets Cb for insurance ?

No.

 

[akshay_m]

I have a question, apologies if this was covered already. The maintenance + electricity of my apartment gets paid on PayTm and operates as a prepaid meter. If I use Magnus to pay that, will that spend count towards monthly milestone?