Axis Reserve Axis reserve forex maximize question

[bing1309]

Hello members,

Can anyone tell me how to get away from 1% and gst to come into profit or equal ratio if we spend xxxx amount in forex only.

as i am aware of the devaluation on 5:2 ratio keeping in mind on 15 edge multiplication of 2X reward. now can anyone tell me if I spend so much amount in trip (forex) in a one month billing cycle what is that amount after I spend I am out of 1% charges and gst charges compensated on rewards points and redeem later on.

I have one credit. And if you guys suggest dinners black or infina or yes marquee or any other card let me know with a hold of take benefits on this much I spend I am in recovery

Thank you.

 

[Quiksilver27]

Hello members,

Can anyone tell me how to get away from 1% and gst to come into profit or equal ratio if we spend xxxx amount in forex only.

as i am aware of the devaluation on 5:2 ratio keeping in mind on 15 edge multiplication of 2X reward. now can anyone tell me if I spend so much amount in trip (forex) in a one month billing cycle what is that amount after I spend I am out of 1% charges and gst charges compensated on rewards points and redeem later on.

I have one credit. And if you guys suggest dinners black or infina or yes marquee or any other card let me know with a hold of take benefits on this much I spend I am in recovery

Thank you.

For Axis Reserve current rewards for forex is 30 ER per 200 (this does not include payments made in INR in foreign countries as that would attract DCC)

So for eg 10000 spent abroad will get 1500 ER which converts to 600 partner miles (out of which Accor is the only decent option valued at 1.8)
so 600*1.8=1080 less 1.50% plus gst forex conversion fee = 177

Net gain = 1080-177=903 which comes to approx 9% earn rate

If transferred to ITC(or other partner valued at 1Rs per point) then Net earn rate will be 600-177=423 which is approx 4.2% earn rate

(Please mark as solution if i answered your question or dont doesnt really matter)

 

[bing1309]

For Axis Reserve current rewards for forex is 30 ER per 200 (this does not include payments made in INR in foreign countries as that would attract DCC)

So for eg 10000 spent abroad will get 1500 ER which converts to 600 partner miles (out of which Accor is the only decent option valued at 1.8)
so 600*1.8=1080 less 1.50% plus gst forex conversion fee = 177

Net gain = 1080-177=903 which comes to approx 9% earn rate

If transferred to ITC(or other partner valued at 1Rs per point) then Net earn rate will be 600-177=423 which is approx 4.2% earn rate

(Please mark as solution if i answered your question or dont doesnt really matter)

So I have to spend minimum of 10,000inr to come into profit where( on forex 1% fee gst 18%) and 1% forex fee is 118rs which is covered in edge reward points which i can gain in Accor or airlines partner miles is that correct.

 

[Quiksilver27]

So I have to spend minimum of 10,000inr to come into profit where( on forex 1% fee gst 18%) and 1% forex fee is 118rs which is covered in edge reward points which i can gain in Accor or airlines partner miles is that correct.

10000 is just an example, same will apply even if u spend 1000 or even 200(as 200rs is minimum amount to earn any points)

for 200Rs forex trx ER will be 30, which converts to 12 partner points and forex charges will be 3.54.

Forex charges are 1.5% plus gst, not 1% plus gst

 

[drsel]

Do you think paying 59000 every year is worth it for this meagre profit?

 

[drsel]

Now there is zero points when you pay renewal fees 59000

 

[Quiksilver27]

No one in their right mind will renew, we are probably the few leftovers who got renewal benefits in Jan-March 2024.. now before next renewal there will be mass closures at the current state of things.. my friends/relatives love the BMS offer for 5 tickets every month.. also last use of meet and greet which axis has spoiled us with..

 

[bing1309]

Now there is zero points when you pay renewal fees 59000

renewal is on JAN so have to use it what i can do yes its going for via upgrade (basically downgrade) to another card.

 

[drsel]

No one in their right mind will renew, we are probably the few leftovers who got renewal benefits in Jan-March 2024.. now before next renewal there will be mass closures at the current state of things.. my friends/relatives love the BMS offer for 5 tickets every month.. also last use of meet and greet which axis has spoiled us with..

the joining points are only 15000 on payment of 59000.
Just like American express Platinum charge card, nobody will apply for this card also

 

[Quiksilver27]

the joining points are only 15000 on payment of 59000.
Just like American express Platinum charge card, nobody will apply for this card also

Yes Axis abandoned Reserve, waiting for Olympus to launch to make a switch