Invest using credit card (specially Axis Magnus)

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Deal Cadet
John_Wick

In my earlier thread, I was suggested by Dimers how to profitably close an ongoing LIC.

https://www.desidime.com/discussions/best-way-t...

Since expenses of my LIC will be stopped now onwards (which formed major chunk of my Magnus spending) and also I am looking for new investment opportunities, which investment option should I explore so that I can continue availing benefits of Magnus and secure my and family’s future at the same time?

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Deal Cadet Deal Cadet
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Is it a life time free magnus card?

Deal Newbie Deal Newbie
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rajatindia wrote:

Is it a life time free magnus card?

Don't ask this no one get magnus ltf only income of 60 Lakh salary person get ltf 

Deal Cadet Deal Cadet
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Kumarparo wrote:

Don't ask this no one get magnus ltf only income of 60 Lakh salary person get ltf 

Should the salary account be in axis bank only?


Deal Subedar Deal Subedar
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Kumarparo wrote:

Don't ask this no one get magnus ltf only income of 60 Lakh salary person get ltf 

And it is net income in bank post all deductions. So, actual must be around 1.5 crore (maybe less if someone is in startup without rsu and Espp plans).

Deal Cadet Deal Cadet
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John_Wick wrote:
No
Can we use magnus to invest in NPS tier 2?
Is it working, can you check and confirm?
Deal Cadet Deal Cadet
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rajatindia wrote:
Can we use magnus to invest in NPS tier 2?
Is it working, can you check and confirm?
Govt has banned CC for NPS Tier 2 payments. Kisi ke paas kucch jugaad ho to batana
Cool Cool
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Gv reselling/flight booking

Deal Cadet Deal Cadet
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John_Wick wrote:
Govt has banned CC for NPS Tier 2 payments. Kisi ke paas kucch jugaad ho to batana

Myntra started selling gold coins you can use magnus card with cashback sites. It is good for investment purpose.

Deal Cadet Deal Cadet
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That gold is much much costlier than that in market, offsetting every ounce of gain on my Magnus, leaving behind a product that I neither like nor want

Deal Cadet Deal Cadet
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Kumarparo wrote:

Don't ask this no one get magnus ltf only income of 60 Lakh salary person get ltf 

ok there is difference between 60 L salary and per month salary credit .. Axis needs 5L net salary credit post all dedcutions like income tax/ epf / nps etc for LTF , not 5L gross. 
Elite Elite
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mojo_jojo123 wrote:
ok there is difference between 60 L salary and per month salary credit .. Axis needs 5L net salary credit post all dedcutions like income tax/ epf / nps etc for LTF , not 5L gross. 
Would a person earning this much even care if s/he’s being charged or given ltf? I’m sure s/he’ll meet the spend criteria to make it free anyways
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