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Axis Magnus Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)
- Thread starter shibili
- Start date
If every CC holder becomes a TF community member and redeems the rewards to get the maximum value out of them, then I doubt how long the banks can afford to offer these rewards on CC spends.. It would be like Mixed basket case scenario mostly ....otherwise the industry can't survive..
Maybe in the time, he will spend to save that money, he can earn more than double of that
.There was a joke that a "billionaire" won't get down to pickup 500 note fallen from his pocket, because in that time he can make 5000 more
.They will deposit 10L to get the transfer rate they want and then after they do it they will withdraw the 10L and close magnus as well or spend enough to get it waived off or keep the card as a paid card if they find it lucrative.
Only someone stupid would keep his money at 3% interest rate when liquid funds and overnight funds also offer better returns that that
These devaluations on cards are only because of forums like ours, banks were so happy with people having limited knowledge of points redemption. Banks are internally crying and devaluing cards these sooner.
Yes, of course..
That is the double edged sword of digital yuga and information technology...
About 20 years ago, knowledge used to sit in the brains of GURUs. Now it is residing on the net..enjoy..
We have go along with the changes that were brought when time changes, can't resist..
Change is certain in life..
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CARDBITRAGE
TF Legend
Agreed! A very small group of people would actually need to maintain that kind of liquidity. Without the proper utility, it's as good as burning it. I can't get myself to justify leaving 10L in an account with strings attached just for a card that can be devalued again any day.
How is it stupid if someone gets says 14.4lk (accor 8lk miles transfer) value out of the card by putting in 10lk as deposit?
It's not about thr 3% return It's about the 144% return over 10lk..
Plus 10lk is a small price to pay (keep in acc) to avoid future devaluation as majority will leave.
Care to explain the math behind 14.4LK points
10lk points = 8lk accor miles = 14.4lk Rupees.
how did you get 10LK points?
On spends? That's the max cap for burgundy.
isnt the capping of 5L ?
Not for Burgundy. For Burgundy it's 10lk.
for earning 10L points you would be spending close to 1.6 crs in a year.
someone who spends that much wouldn't care to keep 10L liquid in a bank
he would look to maximize returns
also someone spending that much would have definitely shifted to something like amex platinum assuming he is a credit card reward geek
Also, someone spending 1.6cr would not be reading this thread
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1.6cr=> ~13lakhs spends per month, that itself makes the card free... wont the guy have burgundy private or reserve then?
true that lolAlso, someone spending 1.6cr would not be reading this thread
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1.6cr=> ~13lakhs spends per month, that itself makes the card free... wont the guy have burgundy private or reserve then?
your calculations are just like your comments, baseless.
To earn 10lk points 1 has to spend 58.12lk in a month or 69lk in a yr or 5.75lk a month. And this does not include 5x points that u can earn via traveledge or gyftr. With travel edge and gyftr the spend falls to almost half but that's not realistic, no one is buying 2lk tickets a month + 77k vouchers a month.
If you getting 14.4lk for spending 69lk in a yr that's 20.87% return in accor.
