Samsung Infinite with magnus gives 8% vb on international transactions

[rajgopalsinghal]

Any international transaction on Samsung infinite gives 15 points per 100rs.

if you have magnus then transfer ratio is 5:4 for airlines i.e 12 airmiles per 100rs.

Transaction charges 3.5% + 18 GST comes around 4%. For 100Rs transaction 4Rs will be charged.

I mostly value per airmile as 1rs.

so for 100rs transaction you are getting 12Rs-4Rs = 8Rs value back.

 

[CMGCMG is verified member.]

Until one fine day they start segregating points and suddenly entire collected points become worthless.

If you collect and redeem rps frequently, it is a good option.

 

[tdot]

OP obviously didn’t read the TCS being levied on International trx

 

[CMGCMG is verified member.]

OP obviously didn’t read the TCS being levied on International trx

It doesn't matter. You'll get your TCS money back. It's just a hassle to keep track of and confirm all international transactions when filing your taxes.

 

[tdot]

It doesn't matter. You'll get your TCS money back. It's just a hassle to keep track of and confirm all international transactions when filing your taxes.

Of course it’s refundable but 20% is pretty significant and a big pain to keep track and file in time

 

[arpitium]

Any international transaction on Samsung infinite gives 15 points per 100rs.

if you have magnus then transfer ratio is 5:4 for airlines i.e 12 airmiles per 100rs.

Transaction charges 3.5% + 18 GST comes around 4%. For 100Rs transaction 4Rs will be charged.

I mostly value per airmile as 1rs.

so for 100rs transaction you are getting 12Rs-4Rs = 8Rs value back.

Isnt Forex mark-up 2% for magus?

 

[rajgopalsinghal]

Isnt Forex mark-up 2% for magus?

for samsung infinite it's 3.5%

 

[rajgopalsinghal]

Of course it’s refundable but 20% is pretty significant and a big pain to keep track and file in time

sorry i cannot calculate pain in value back

 

[Wealth is my birth right!]

Isnt Forex mark-up 2% for magus?

Role of Magnus card here is to collate all Edge Rewards transfers on 5:4 ratio

 

[PiperatGatesofDawn]

Yeah this will work till Axis figures out this flaw and then puts a huge dent in your points balance. They have been fixing problems with their points system quite aggressively. Granted that the earlier instances were mostly people trying to game the system. In this case even a honest person will get the same results.

 

[Diptajit]

Well, I don't think it is a flaw in Axis system. As long as you are holding a super premium card, it doesn't matter to Axis if you spend through that card or some other card. Their likelihood of earning money from you remains the same regardless of the card you use, so giving the top reward rate on lower card variants is possibly a design, not a flaw.

 

[punindya]

Well, I don't think it is a flaw in Axis system. As long as you are holding a super premium card, it doesn't matter to Axis if you spend through that card or some other card. Their likelihood of earning money from you remains the same regardless of the card you use, so giving the top reward rate on lower card variants is possibly a design, not a flaw.

I definitely don't think that is their intended design. Samsung Infinite card is giving 30000 ER points on joining when the joining fees are only Rs. 5900. This is an easy Rs. 18000 profit for any Magnus/Reserve cardholder by just getting the joining ER points and then not using the card at all. I doubt Axis would willingly give up so much money even for customers already holding their HNI cards.

 

[Diptajit]

I definitely don't think that is their intended design. Samsung Infinite card is giving 30000 ER points on joining when the joining fees are only Rs. 5900. This is an easy Rs. 18000 profit for any Magnus/Reserve cardholder by just getting the joining ER points and then not using the card at all. I doubt Axis would willingly give up so much money even for customers already holding their HNI cards.

Your argument is totally logical. I have a slightly different perspective though.

Firstly, I don't see the point of anyone taking a Samsung co-branded credit card, so they have to somehow sweeten the deal. Maybe it is a step to make sure all your future electronics purchases are secured by them (and by Samsung).

Secondly, what is a one time Rs 18k for Axis who are giving away monthly bonuses of 25k points each month?

Axis has had one singular edge reward system since the program exists,AFAIK. Don't see them changing that soon.