Only Premium & Super Premium Cards Discussion

[MilesMax]

25k is too ambitious tbh. Instead of giving 25k and then removing it altogether, they should stick to a more sustainable smaller number like 5k or 10k for 1L spent.

 

[CMGCMG is verified member.]

25k is too ambitious tbh. Instead of giving 25k and then removing it altogether, they should stick to a more sustainable smaller number like 5k or 10k for 1L spent.

They could also do milestones like they do with other cards like Select, Atlas, Vistara.

 

[tryabptryabp is verified member.]

25k is too ambitious tbh. Instead of giving 25k and then removing it altogether, they should stick to a more sustainable smaller number like 5k or 10k for 1L spent.

They want to offer True Burgundy to True Rich people! And then they can sell policies & ULIP to those people and even if they dont sell the policies they know that person maintaining 10 lac bal dont have time to calculate rewards and milestones.

 

[NikTravelEnthusiast]

They could also do milestones like they do with other cards like Select, Atlas, Vistara.

Exactly. Slow devaluation can be digested. Going rougue and eliminating all the reward structure of a card is not justified.

 

[CMGCMG is verified member.]

Exactly. Slow devaluation can be digested. Going rougue and eliminating all the reward structure of a card is not justified.

What probably happened is they went all in for the devaluation. Magnus's spending for the last month and this month has reduced significantly. They must be brainstorming now to fix this.

 

[CMGCMG is verified member.]

Fictional fix:

• Ditch EdgeRP for HNI cards.
• Introduce LuxeEdge where 1LE = 1 Rupee
• Bring back gyftr/fix grabdeals. Introduce capping here.
• Cap Traveledge spends. Also for traveledege booking 1LE = 1Rupee.
• Introduce milestones at 2.5, 5, 10, 25L for Magnus, a different structure for Reserve
• Allow people to hold only one HNI card. Either Magnus or Reserve.
• Introduce Burgundy Elite at 50L. Give extra bonus % for points for Burgundy/Elite/Private (like they do for citi prestige with Gold accounts)
• Reward magnus at 3.6%. 4.5% for reserve (+ different caps and milestones for each card).
• Also, merge traveledge/gyftr/grabdeals into a single platform where there are discounted sales of hotel, flight bookings.

 

[ARV]

Fictional fix:

• Ditch EdgeRP for HNI cards.
• Introduce LuxeEdge where 1LE = 1 Rupee
• Bring back gyftr/fix grabdeals. Introduce capping here.
• Cap Traveledge spends. Also for traveledege booking 1LE = 1Rupee.
• Introduce milestones at 2.5, 5, 10, 25L for Magnus, a different structure for Reserve
• Allow people to hold only one HNI card. Either Magnus or Reserve.
• Introduce Burgundy Elite at 50L. Give extra bonus % for points for Burgundy/Elite/Private (like they do for citi prestige with Gold accounts)
• Reward magnus at 3.6%. 4.5% for reserve (+ different caps and milestones for each card).
• Also, merge traveledge/gyftr/grabdeals into a single platform where there are discounted sales of hotel, flight bookings.

I like the suggestion, but it's a distant dream with AXIS bank. Their tech team is not able to handle small change, how will they do so many changes. I think it's easier to launch a new product with these features. Most of these features are already there in ATLAS but as miles

 

[CMGCMG is verified member.]

I like the suggestion, but it's a distant dream with AXIS bank. Their tech team is not able to handle small change, how will they do so many changes. I think it's easier to launch a new product with these features. Most of these features are already there in ATLAS but as miles

Yes like Atlas, with few changes here and there with accelerated points for gyftr/grabdeals stuff. Something good to replace Citi prestige.

They have introduced Edge Loyalty 10 years back. If they can't fix their product, they should outsource it to a competent startup. They will do a better job than this.

 

[Deleted member 11974]

Fictional fix:

• Ditch EdgeRP for HNI cards.
• Introduce LuxeEdge where 1LE = 1 Rupee
• Bring back gyftr/fix grabdeals. Introduce capping here.
• Cap Traveledge spends. Also for traveledege booking 1LE = 1Rupee.
• Introduce milestones at 2.5, 5, 10, 25L for Magnus, a different structure for Reserve
• Allow people to hold only one HNI card. Either Magnus or Reserve.
• Introduce Burgundy Elite at 50L. Give extra bonus % for points for Burgundy/Elite/Private (like they do for citi prestige with Gold accounts)
• Reward magnus at 3.6%. 4.5% for reserve (+ different caps and milestones for each card).
• Also, merge traveledge/gyftr/grabdeals into a single platform where there are discounted sales of hotel, flight bookings.

most important patch loopholes where people where rotating money

 

[Deleted member 11974]

Fictional fix:

• Ditch EdgeRP for HNI cards.
• Introduce LuxeEdge where 1LE = 1 Rupee
• Bring back gyftr/fix grabdeals. Introduce capping here.
• Cap Traveledge spends. Also for traveledege booking 1LE = 1Rupee.
• Introduce milestones at 2.5, 5, 10, 25L for Magnus, a different structure for Reserve
• Allow people to hold only one HNI card. Either Magnus or Reserve.
• Introduce Burgundy Elite at 50L. Give extra bonus % for points for Burgundy/Elite/Private (like they do for citi prestige with Gold accounts)
• Reward magnus at 3.6%. 4.5% for reserve (+ different caps and milestones for each card).
• Also, merge traveledge/gyftr/grabdeals into a single platform where there are discounted sales of hotel, flight bookings.

suggest this to pno and md desk
best case they might implement this worst case they ignore it

 

[CMGCMG is verified member.]

most important patch loopholes where people where rotating money

Yup. Or ask HDFC/Amex to give Tips 🤣

 

[Deleted member 11974]

i also have senior management contact if you would want to escalate this to them as a suggestion

 

[rohitb]

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.

Not a fair comparison
risk profile of market investment and SB is different . You can compare it to FD(post tax) for fairer comparison.

Opportunity cost will be lesser than 30k .

 

[NikTravelEnthusiast]

What probably happened is they went all in for the devaluation. Magnus's spending for the last month and this month has reduced significantly. They must be brainstorming now to fix this.

'Brain(less) storming'
What I would like to call😄

 

[CMGCMG is verified member.]

i also have senior management contact if you would want to escalate this to them as a suggestion

Take it to them. By Technofino Community 😌

 

[Deleted member 11974]

Take it to them. By Technofino Community 😌

i have anyways shifted to infinnia and got my fees waived of for first year
will close it at renewal if they charge mein fees

 

[D7162]

even milestone will come back (i doubt strongly - as they already set accelerated points above 1.5lakh) with lot of exclusions, it will be hard

 

[ADITYA1904]

But for 25k milestone where to spend due to lots of exclusions, mainly utilities and government spends…

 

[mojo_jojo123]

This month have 0 spent in Magnus and already 1+ in hdfc .. Axis is big no now ..

 

[NikTravelEnthusiast]

This month have 0 spent in Magnus and already 1+ in hdfc .. Axis is big no now ..

How many rewards points on Infinia you are able to accumulate on an average for 1 Lac spend? I am new to Infinia so just curious.