Hi All,
Until now, I assumed that since we are getting 4 airmiles for every 5 edge points, the reward rate of Magnus credit card is 4.8%, which is also mentioned in the below link of the technofino community.
https://www.technofino.in/community...-reserve-credit-card-reward-rate-update.2393/
But in reality, each mile is not equal to 1 rupee, instead, it is around 0.2* rupees for each Mile which means technically the reward rate on the Magnus credit card is only 1%. I think it's the same with Infinia Credit Card also.
So, can someone confirm if my understanding is correct? if the reward rate of this card is only 1% and not 4.8 (or 3.3 for Infinia) how are these cards better card than other cashback cards which will give a 5% cashback on the transaction (ignoring the accelerated reward rates through various ports and also ignoring 25K reward rates on Magnus card )
*Note:- conversion of AirMiles to INR is a rough calculation and not accurate based on the Airlines site
Regards,
Chaitanya Pinnamaneni.
Until now, I assumed that since we are getting 4 airmiles for every 5 edge points, the reward rate of Magnus credit card is 4.8%, which is also mentioned in the below link of the technofino community.
https://www.technofino.in/community...-reserve-credit-card-reward-rate-update.2393/
But in reality, each mile is not equal to 1 rupee, instead, it is around 0.2* rupees for each Mile which means technically the reward rate on the Magnus credit card is only 1%. I think it's the same with Infinia Credit Card also.
So, can someone confirm if my understanding is correct? if the reward rate of this card is only 1% and not 4.8 (or 3.3 for Infinia) how are these cards better card than other cashback cards which will give a 5% cashback on the transaction (ignoring the accelerated reward rates through various ports and also ignoring 25K reward rates on Magnus card )
*Note:- conversion of AirMiles to INR is a rough calculation and not accurate based on the Airlines site
Regards,
Chaitanya Pinnamaneni.