Axis Magnus Ways to get value from Magnus after Sept 23?

[hrishig]

After the recent massive Magnus devaluation, what can be good ways to get value from Magnus after Sept 23 for members spending 12-15lkh on Magnus?
HDFC infinia has shallow reward earning caps in a single transaction and per month. Thus high-value concentrated transactions can be USP for Magnus

Will the below strategy help?

1) Make sure to have a burgundy account ( else the transfer ratio will be pathetic)
(Update) 30lkh in savings or 10 lkh in saving account is the burgundy criteria
2) Club multi-month transactions in a single month (say 3-4 lakh).
3) Repeat the above step 3-4 times a year, depending on yearly spending; it can give you better value compared to the fees that you pay for Magnus
4) Try using travel edge, Gyftr to max level.->(Update) The accelerated reward calculations exclude travel edge and Gyftr. Thus use other sources such as intermiles, default Gyftr etc to stackup vouchers in the month when you are doing 3+ lkh transacations. The reward rate will be 3X rather than 2X in case of amazon and similar vouchers.
5) (Update) Include rental payment till 50k ( can use Cred or similar) in that month

(Update)Got confirmation that Meet and greet service is still present which is a good thing.

 

[CC-Muncher]

After the recent massive Magnus devaluation, what can be good ways to get value from Magnus after Sept 23 for members spending 12-15lkh on Magnus?


HDFC infinia has shallow reward earning caps in a single transaction and per month. Thus high-value concentrated transactions can be USP for Magnus
Will the below strategy help?
1) Make sure to have a burgundy account ( else the transfer ratio will be pathetic)
2) Club multi-month transactions in a single month (say 3-4 lakh).
3) Repeat the above step 3-4 times a year, depending on yearly spending; it can give you better value compared to the fees that you pay for Magnus
4) Try using travel edge, Gyftr ( Yes, lousy devaluation, but something better than nothing) to max level.



Note: I don’t see any discussion about meet and greet services. If they are removed, then it is a significant loss.

OP plz Updage the post based on the comments got so far. It will be easy to get a gist of all points

 

[bigbrain]

Thanks for the update, I have a 30 Lakh FD maturing soon from another bank and I'm willing to redo it with Axis for the 5:4 conversion benefit. Do you think it will be a good idea considering the opportunity cost?

if you are going to put an FD for 30 lakhs in a different bank then there is no question of opportunity cost right? Well I did that. I (and my wife) had FDs in differnt bank and started moving them. I also have some MF with Axis which the RM told will be considered in TRV.
I dont know if it is a good idea yet as the details of "Magnus x Burgandy"is not fully revealed. My RM told me that details should start coming in my 27th. As I am travelling next month I decided to open accounts now before the details are out.

 

[anonym]

Any update on the Axis Magnus reward structure for the newly onboarded customer those who would be getting the Magnus LTF from 1 Sept with Axis Burgundy account?

 

[GoodGuy]

I will spend 1 lac in august because

Get 6000 normal points as good as 1:1 on vistara
25000 points later will fetch 10000 points in vistara

16000 vistara points is 16% returns in a month

it will be 12400 points (considering 5:2 transfer ratio) right after you convert it to vistara (not 16k)

 

[neo.puneet]

it will be 12400 points (considering 5:2 transfer ratio) right after you convert it to vistara (not 16k)

6000 -> 4800 (converting by 31st Aug)
25000 -> 10000 (converting after 31st Aug)

-> 14800 points

 

[zephyr0]

@hrishig Can you please update the post based on comments thus far?

 

[moneydeep]

As a low spender. <1L pm on magnus. how can I recoup the renewal fee? Not counting the lounge access which is already beneficial
For eg if I spend 20-30kpm what's the max edge rewards I would get for the year and would it be more than the 10k renewal fee?

could someone help me calculate please.

 

[austin360]

As a low spender. <1L pm on magnus. how can I recoup the renewal fee? Not counting the lounge access which is already beneficial
For eg if I spend 20-30kpm what's the max edge rewards I would get for the year and would it be more than the 10k renewal fee?

could someone help me calculate please.

Personal view- Why do you want the credit card to decide your spends and not the other way around? If you are a low spender and lounge access is of no use, what other purpose is the card serving given the heavy devaluations. And I guess the renewal fee benefit is about to end from tomorrow.

 

[moneydeep]

Personal view- Why do you want the credit card to decide your spends and not the other way around? If you are a low spender and lounge access is of no use, what other purpose is the card serving given the heavy devaluations. And I guess the renewal fee benefit is about to end from tomorrow.

Lounge access is the only reason I want to keep the card. I use atleast 6-8 lounge access international per year. and I like the minimal airmiles edge rewards I will get now with deval.

What I was asking if I disregard the benefits its giving me with lounge access which is already worth the 10k renewal how much benefit will I get if I spend 20-30k on the card pm eg edge rewards wise. like is that already more than the renewal cost or not?

Hope that makes sense.

 

[MilesMax]

Lounge access is the only reason I want to keep the card. I use atleast 6-8 lounge access international per year. and I like the minimal airmiles edge rewards I will get now with deval.

What I was asking if I disregard the benefits its giving me with lounge access which is already worth the 10k renewal how much benefit will I get if I spend 20-30k on the card pm eg edge rewards wise. like is that already more than the renewal cost or not?

Hope that makes sense.

If you spend on multiplayers of Gyftr or Traveledge then it will be more than the renewal cost. You need to accumulate atleast 30-40k edge points.

 

[j_s]

Lounge access is the only reason I want to keep the card. I use atleast 6-8 lounge access international per year. and I like the minimal airmiles edge rewards I will get now with deval.

What I was asking if I disregard the benefits its giving me with lounge access which is already worth the 10k renewal how much benefit will I get if I spend 20-30k on the card pm eg edge rewards wise. like is that already more than the renewal cost or not?

Hope that makes sense.

You access international lounges 6-8 times but spend only 20-30k. Maybe start with understanding this first. Figure out where your spends are. Rewards are reciprocal to spends. Do you live in a location where card acceptance is low ? Or you spend on other cards?

 

[Avatar Aang]

As a low spender. <1L pm on magnus. how can I recoup the renewal fee? Not counting the lounge access which is already beneficial
For eg if I spend 20-30kpm what's the max edge rewards I would get for the year and would it be more than the 10k renewal fee?

could someone help me calculate please.

Considering your spends and your requirement of lounge access. Imo, DCB LTF or Infinia would be better option. Considering the magnus devaluation.

Or you might switch to some other LTF cards providing International lounge access.

 

[moneydeep]

Yes mostly because most spends are in cash local stores where they don't accept cards.

If you spend on multiplayers of Gyftr or Traveledge then it will be more than the renewal cost. You need to accumulate atleast 30-40k edge points.

Thank you that is all I wanted to know

 

[rj_arora]

I spent on new Samsung infinite card on 10 July and I thought I would get points after 1 sep. But I received them on 29 but forgot to check then. Now, I just checked today. Wasted half of the value

 

[violetevergarden]

Personal view- Why do you want the credit card to decide your spends and not the other way around? If you are a low spender and lounge access is of no use, what other purpose is the card serving given the heavy devaluations. And I guess the renewal fee benefit is about to end from tomorrow.

Finally someone said it. Indirectly based on how others are spending and getting rewards, we modify our spending. That's the entire motive of credit card companies.
Remember a thumb rule - Only spend what you really want. Goal is to maximise rewards via credit card based on what you actually require and not maximise points based on what offers card has.

 

[moneydeep]

Finally someone said it. Indirectly based on how others are spending and getting rewards, we modify our spending. That's the entire motive of credit card companies.
Remember a thumb rule - Only spend what you really want. Goal is to maximise rewards via credit card based on what you actually require and not maximise points based on what offers card has.

I am bhikari person only want paisa vasool. Don't know how I got eligible for magnus. guess they were giving it out for free.
I am happy just converting my regular spends to CC and the Edge rewards will outweigh the 10k cost of the card per year so I am happy.
I know for others they think magnus is useless now but I think it's still good for me. Esp lounge access.
I am still considering switching to Atlas but I think magnus will still give me more RP based on my low spending.

Before I used to always get headahces while flying now with always full belly before boarding enjoying flights much more.

 

[Avatar Aang]

I am bhikari person only want paisa vasool. Don't know how I got eligible for magnus. guess they were giving it out for free.
I am happy just converting my regular spends to CC and the Edge rewards will outweigh the 10k cost of the card per year so I am happy.
I know for others they think magnus is useless now but I think it's still good for me. Esp lounge access.
I am still considering switching to Atlas but I think magnus will still give me more RP based on my low spending.

Before I used to always get headahces while flying now with always full belly before boarding enjoying flights much more.

Why don't you try DCB? It has much lower criteria of annual fee waiver. Reward rate of 3.33% which is currently better than magnus. And the lounge access program is at par with magnus perhaps better than magnus as it gives unlimited lounge for add on cards also.

 

[Slayer]

You access international lounges 6-8 times but spend only 20-30k. Maybe start with understanding this first. Figure out where your spends are. Rewards are reciprocal to spends. Do you live in a location where card acceptance is low ? Or you spend on other cards?

Real

 

[Slayer]

Why don't you try DCB? It has much lower criteria of annual fee waiver. Reward rate of 3.33% which is currently better than magnus. And the lounge access program is at par with magnus perhaps better than magnus as it gives unlimited lounge for add on cards also.

Why are you shilling for DCB?

 

[MilesMax]

I am happy just converting my regular spends to CC and the Edge rewards will outweigh the 10k cost of the card per year so I am happy.
I know for others they think magnus is useless now but I think it's still good for me. Esp lounge access.
I am still considering switching to Atlas but I think magnus will still give me more RP based on my low spending.

Before I used to always get headahces while flying now with always full belly before boarding enjoying flights much more.

Good for you, you chose whatever works best for your spends.
Priority pass with 8 free guest access is a very underrated feature. Even Infinia or Amex platinum doesn't have free guest access.
With your regular spends on traveledge you'll make enough ERs that covers renewal fees.