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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
Further breakdown.
12 months = first 9000p at 12p per 200rs for the first 150k.
And then after 35p per 200rs.
So in a month if one is spending 5.75lk then that becomes 575000-150000=425000
150000 at 12p/200 & 425000 at 35p/200.
9000 + 74375 = 83375 x 12 = 1000500 = 8lk miles = 14.4lk value in accor or 8lk miles in MB.
Also I fail to understand how is 5MB points on Amex Platinum for 200rs spend is better than 9.6MB points on Magnus for 200rs?
Wheras that card costs 70k a yr and this costs 14.5k in fees and 30-40k in lost opportunity for storing the 10lk in Axis account?
Wheras that card costs 70k a yr and this costs 14.5k in fees and 30-40k in lost opportunity for storing the 10lk in Axis account?
a
assuming he has the card free for free via magnus burgundy
my bad
i took the base reward rate of 6% for the total spends as mentioned
but my point still stands
if someone is even spending 70 lakhs a year he would either shift to reserve,burgundy private ,or amex platinum and that person most of anybody wouldn't keep his funds idle at 3%
Reserve has 5lk limit at 5:2.
Burgundy Private has 5cr TRV.
Amex Platinum reward rate sucks compared to Magnus.
How is 10lk at 3% not ideal but 5cr TRV is ideal?
The people who can achieve 5cr TRV is far less than the people who can achieve 10lk AQB.
Your point is invalidated by the fact that you can get 21% return of 14.4lk by spennding 70lk, no card gives that much return, the 10lk AQB, you are only losing 40k at best if u count 7% RR. Plus you get padded benefits in home loan, and what not, i got my Home Loan at 6k processing fees at 8.6% (other banks were offering 9.25% because of surrogacy). HDFC quoted 35k in just processing fees and 8.9% Interest Rate even though i am Imperia there.
Giving a list of cards that could be better than Magnus is easy, back your point with actual calculations. And then tell me.
Tell me which card gives 8lk miles for 70lk spend.
A person spending almost a crore rupees a year doesn't look at points
for people like those these benefits are minuscule
they would be rather invested in another high yielding asset class than keep their money idle losing value for reward points
becuase in trv illiquid products such as insurance mutual funds loans are included almost all are asset products for the bank
mostly people having such trv are having money invested in demats or somewhere else
so maintaining a higher trv than 5 cr would also make sense given the point that the monetary return on your investment in generating any substantial net returns.
1 - Its not crore. Its 69lk, BIG DIFFERENCE.
2 - I spend on an average that much and for me 20% return on my SPENDS (Not even investments) is HUGE. 20% is ALOT.
You are contradicting yourself at this point, losing out 40k over interest vs gaining 14.4lk, any smart person with investment knowledge would chose the this over investing the 10lk somewhere else.
I can apply your own logic here and say that why would anyone invest from Axis when investing directly with the fund house will yield more units than thru a broker.
1.I rounded off the 30Lk for ease
2.do you think a guy who spends 70 lks a year would think of investing in a safe asset like a fd for example?
rich people don't become rich by investing in fds
it is upto the person to do his due diligence,
he might maintain his trv via demat and insurance and loans only
you are choosing 20% return on your spends
while the person who doesn't keep his funds there is looking at more than 20% return on investment
while you feel 20% is a lot there are investment opportunities according to his risk appetite that might double in a month
which have in the recent months
1 - 30lk round off on a 70lk expense? What are u? 5 yr old?
2 - You clearly wouldnt know.
Even if a person makes 30% return, thats 3lk on 10lk investment.
Here you are getting 20% on your SPENDS, not your investments. WHAT YOU SPEND, YOU GET 20% on.
Its like talking to a wall at this point.
For a person who is spending 70lk in a yr, 10lk isnt gonna be a big deal, considering they getting 20% on that 70lk in a yr in return.
Even if they make 30% return on that 10lk, thats still 3lk, and they getting 14.4lk in return easily. Why would they invest it when this is sureshot guaranteed return.
Even if they make 30% return on that 10lk, thats still 3lk, and they getting 14.4lk in return easily. Why would they invest it when this is sureshot guaranteed return.
kardiya bhai round off kya hogaya usme
i spend close to that amount and i do not invest in an fd
now coming to your stats
someone spending 70 lks on a magnus in a year would be a salaried individual at least earning 2 crs or more a year to be spending such a high amount year on year.
now we will only consider salaried people here due to this being a personal usage cc and not for business usage
now 2 cr or more salary in India is something that senior management and c -suite executives will be getting
do you think they will have the time to calculate which card yields then how much return.
someone spending 70 lks on a magnus in a year would be a salaried individual at least earning 2 crs or more a year to be spending such a high amount year on year.
now we will only consider salaried people here due to this being a personal usage cc and not for business usage
now 2 cr or more salary in India is something that senior management and c -suite executives will be getting
do you think they will have the time to calculate which card yields then how much return.
This conversation is so stupid, i am out of it now, its literally like talking to a wall.
I agree there is a lot of return with high spending. With so many exclusions in rewards, its hard to keep track of whats included. With government spend gone, grab deals gone. Cap on Amazon GV purchase, 50k limit on rental & insurance where would one spend 5.75L? Travel may be but not every month. I am still wondering who the bank is targetting
