Devaluation Axis Magnus & Magnus Burgundy Credit Card Huge Devaluation Effective From 20th April 2024

[drsel]

Watch this. It's very informative!

Senators Probe How Airlines Make Money From Frequent Flyer Programs

Airline loyalty programs are designed to offer frequent flyers an exclusive experience while keeping airlines profitable.

www.forbes.com

Another interesting analysis how artificially creating air miles out of thin air and selling them to credit card issuing banks for real money are so profitable for all the Airlines

 

[drsel]

Artificially creating air miles at will is like printing their own parallel online currency, without anyone to control them!

 

[drsel]

It's like any business printing gift vouchers and selling them for real cash.
AkbarAlly used to do it in the last century.
Now there are so many online companies doing it

 

[Namans]

Senators Probe How Airlines Make Money From Frequent Flyer Programs

Airline loyalty programs are designed to offer frequent flyers an exclusive experience while keeping airlines profitable.

www.forbes.com

Another interesting analysis how artificially creating air miles out of thin air and selling them to credit card issuing banks for real money are so profitable for all the Airlines

Wow! So devaluation is inevitable for any program with never expiring miles..

 

[drsel]

Wow! So devaluation is inevitable for any program with never expiring miles..

Devaluation is inevitable even for airline programs with expiring miles

 

[Namans]

It's like any business printing gift vouchers and selling them for real cash.
AkbarAlly used to do it in the last century.
Now there are so many online companies doing it

Starbucks had around $200 million in unused/expiring gift voucher credits in the US.. Read about it a while ago. Very sneaky!!

 

[Namans]

Devaluation is inevitable even for airline programs with expiring miles

Yes but I suppose they can delay or avoid doing it for longer

 

[drsel]

Ola sells 1000 gift vouchers which can be used only for one trip and the excess amount is completely wasted and forfeited.

But Uber cash is usable again, only the actual fare is deducted from your Uber cash

 

[Namans]

@Namans Devaluation news from United😅. Good thing that at least Europe/US rates are same.

Europe is also devalued today!
I think they are devaluing everything but it's just taking them some time. If I'm right, US should be next

 

[drsel]

Europe is also devalued today!
I think they are devaluing everything but it's just taking them some time. If I'm right, US should be next

International & domestic airmiles value in India by Moolah geeks--

1.00 Indigo
90p Vistara
80p, Singapore, British, Turkish, Japan, United
70p Emirates
65p Qatar
50p Etihad, Spicejet
30p Air India, Intermiles

So now the value of United airmiles should drop to 50 Paisa or ?

 

[manikanta5858]

Is there any chance to bring back Bookmyshow offer on Magnus card in coming Future?

 

[drsel]

Axis has officially confirmed that points are credited after a longer duration (from 20 April 2024), as follows (calendar days including holidays) --

Magnus burgundy 15 days
Atlas 18 days
Samsung Infinite 45--60 days
IOCL 5--7 days
Miles and More 28th of every month
Other cards 30 days

 

[Rags]

Axis has officially confirmed that points are credited after a longer duration (from 20 April 2024), as follows (calendar days including holidays) --

Magnus burgundy 15 days
Atlas 18 days
Samsung Infinite 45--60 days
IOCL 5--7 days
Miles and More 28th of every month
Other cards 30 days

Did they send a mail?

 

[drsel]

I phoned customer care to find out why points were delayed. They have not intimated officially.

 

[bvc19296]

Is there any chance to bring back Bookmyshow offer on Magnus card in coming Future?

No one can guarantee it. Hope for the best, as of now doesn't seem bright.

 

[rogerthat]

Axis has officially confirmed that points are credited after a longer duration (from 20 April 2024), as follows (calendar days including holidays) --

Magnus burgundy 15 days
Atlas 18 days
Samsung Infinite 45--60 days
IOCL 5--7 days
Miles and More 28th of every month
Other cards 30 days

I am convinced that Axis has a huge number of employees in a building somewhere manually checking every transaction on every card, dividing by 100 or 200 and multiplying by 2 or 12 and entering the result in a box on their screen which then goes through three levels of approvals (points crediter, manager points crediting, VP points crediting). How else can this stupid delay be explained when nearly all other banks automatically credit the points as soon as the transaction is settled?

But hey, we should credit them for employment generation which is badly needed in our country!

 

[techt]

But hey, we should credit them for employment generation which is badly needed in our country!

I appreciate your optimism.

 

[Rags]

I phoned customer care to find out why points were delayed. They have not intimated officially.

It's not new, these were always the same timelines , we used to get early so far

 

[Harry1]

Received few points for transactions on 23-24th. But transaction on 19th got missed🤦‍♂️.

 

[CVR]

Received few points for transactions on 23-24th. But transaction on 19th got missed🤦‍♂️.

In my case also transaction of 19th got missed