Only Premium & Super Premium Cards Discussion

[tryabptryabp is verified member.]

I just had call with my Axis Bank RM cum Friend (Credit Card Dept.) that there is serious discussion regarding Axis Magnus Monthly Milestone of 25000 points to be back again exclusively for Burgundy Accounts only.

Put your views and lets plan together if this happens!

 

[CC-Muncher]

cant say anything until it's done!

 

[imdjay]

Do you mean Burgunndy accounts?

 

[Deleted member 11974]

I just had call with my Axis Bank RM cum Friend (Credit Card Dept.) that there is serious discussion regarding Axis Magnus Monthly Milestone of 25000 points to be back again exclusively for Magnus Accounts only.

Put your views and lets plan together if this happens!

View attachment 29519

magnus accounts yaani ke burgundy wale you mean
then it might be a good propositon

 

[NOOBY]

magnus accounts yaani ke burgundy wale you mean
then it might be a good propositon

how is that good ?

Keep 10L in savings to get 25k milestones at 5:4 ?

ghaate ka sauda I think

 

[Deleted member 11974]

how is that good ?

Keep 10L in savings to get 25k milestones at 5:4 ?

ghaate ka sauda I think

10L pe 3% mil raha hai jo oppurtunity cost lose hoga vo recover kardega 25k poitns plus 5:4 ratio pe

 

[Deleted member 11974]

not sure need to do the cost benefit analysis

 

[Dragon_slayer]

I think you meant Burgundy account, not Magnus account

 

[tryabptryabp is verified member.]

I think you meant Burgundy account, not Magnus account

Sorry, made correction

 

[CARDBITRAGE]

Let's wait for them to first honour the promises of Magnus+Burgandy benefits(incl. LTF Magnus). XD
But if they are crazy enough to reintroduce the 25k milestone benefit, they will have to roll back the current reward system which will complicate things again.

 

[Deleted member 11974]

also running 2 rewards system on one card wont be possible
that's why as someone shared burgundy magnus can be re introduced as a new credit card itslef

 

[RupayMan]

25k is definitely not at all possibl. We can just speculate thing, and this rumours I believe its like a negative promotion for a movie and make the box office hit. As long as Axis taking burgundy accounts it's going to be beneficial for them.

 

[tryabptryabp is verified member.]

not sure need to do the cost benefit analysis

Lets determine value to 1 true magnus burgundy point then everything is simple?

OR calculate ROI as base rate of 12% which we will get in market investments. then, 10L in burgundy will give 3%. So below is my calculation.

1,26,825 - 30,415 = 96,410Rs Opportunity Cost.

Consider we get monthly milestone for full 12 months. 25000*12= 3 Lac bonus points. + base points 72000.

Calculate bonus points opportunity cost: 96410Rs/300000points= 0.32

So, for my personal calculation if i am getting 0.32 paisa value for each point then i will be at breakeven.

 

[ARV]

LOL nothing can be sure with AXIS, we take all the effort to open Burgandy account and people start misusing it and 3 months later boom its devalued. BTW most of the categories are excluded from spending including gyftr, where will you spend to meet milestone ?

 

[tryabptryabp is verified member.]

LOL nothing can be sure with AXIS, we take all the effort to open Burgandy account and people start misusing it and 3 months later boom its devalued. BTW most of the categories are excluded from spending including gyftr, where will you spend to meet milestone ?

good point.

 

[Deleted member 11974]

Lets determine value to 1 true magnus burgundy point then everything is simple?

OR calculate ROI as base rate of 12% which we will get in market investments. then, 10L in burgundy will give 3%. So below is my calculation.

1,26,825 - 30,415 = 96,410Rs Opportunity Cost.

Consider we get monthly milestone for full 12 months. 25000*12= 3 Lac bonus points. + base points 72000.

Calculate bonus points opportunity cost: 96410Rs/300000points= 0.32

So, for my personal calculation if i am getting 0.32 paisa value for each point then i will be at breakeven.

take roi as the highest fd possible now
which is insured by dicgc
assuming two fds of 5L
then calculate accordingly
utkarsh small fin gives 9.1% for senior citizens calculate accordingly and post it

 

[Deleted member 11974]

also add the gains at a net level after tax for clarity

 

[tryabptryabp is verified member.]

also add the gains at a net level after tax for clarity

Valid point! Earnings in rupees cost tax, earnings in points cost no income tax! Good thing to save tax 😀

 

[CMGCMG is verified member.]

25,000 + 35RP/200 (>1.5L spends) + LTF Magnus + 5:4 + 10L Traveledge limit


This will get exploited and will be devalued.

 

[S.S.]

Cap of 5 lakhs transfer will limit everything.