What are the expected upcoming devaluations for Magnus?

[mmd]

Some of the ones that are floating in twitter and other forums are

1. Removal of rent/gold/fuel/insurance from milestone benefits.
2. Decrease of milestone benefits from 25000 RP to 5000 RP.
3. Removal of renewal benefit (tatacliq/flight ticket).

There are also talks about Axis not devaluing Mangus before the merger of Citi is complete.

 

[PavvanPavvan is verified member.]

 

[Gkcards]

I thought Magnus rewards play has just started, and already devaluations have started !!

 

[ARV]

View attachment 4982

I think this is for normal rewards, not for milestone

 

[churn]

If they remove fuel/rent/gold and change the transfer ratio to something like 5:1, it should all be fine for the bank.

 

[Harry1]

Some of the ones that are floating in twitter and other forums are

1. Removal of rent/gold/fuel/insurance from milestone benefits.
2. Decrease of milestone benefits from 25000 RP to 5000 RP.
3. Removal of renewal benefit (tatacliq/flight ticket).

There are also talks about Axis not devaluing Mangus before the merger of Citi is complete.

They can add utilities also in number 1 like SBI cashback card.

Number 2 will be deal breaker for me.

3 is highly unlikely. Most high end cards give vouchers/points of equivalent value.

 

[Gkcards]

They can add utilities also in number 1 like SBI cashback card.

Number 2 will be deal breaker for me.

3 is highly unlikely. Most high end cards give vouchers/points of equivalent value.

Some of the ones that are floating in twitter and other forums are

1. Removal of rent/gold/fuel/insurance from milestone benefits.
2. Decrease of milestone benefits from 25000 RP to 5000 RP.
3. Removal of renewal benefit (tatacliq/flight ticket).

There are also talks about Axis not devaluing Mangus before the merger of Citi is complete.

2&3 will definitely lead to card closure
2 will also lead to card closure
3 maybe not if you are hitting 1L for most months

 

[Nemesis]

Lol i have seen many requesting for VIP section using Magnus... seems like issuing too much premium cards, devaluation would be near

 

[Gkcards]

Lol i have seen many requesting for VIP section using Magnus... seems like issuing too much premium cards, devaluation would be near

yeah, but then how many will be too many...i mean what will be sweet spot for bank for number of customers to have, and beyond what devaluations will start, but then people will also start moving on to other cards...any insights from infinia devaluations

@TechnoFino
@Subhankar
@bhavyegoel

Any comments?

 

[chasni]

Lol i have seen many requesting for VIP section using Magnus... seems like issuing too much premium cards, devaluation would be near

High number of issued card doesn't mean everyone is reaping the benefits. I feel many have applied due to FOMO. If you look at the SBI Cashback thread you will see more number of people. Probably many repeat people from the Magnus thread.

For people who use multiple cards, it is not easy to attain the milestone of 1 lac per month. There will be some who can do it as they might have high income and expenses. For most people spending 1 lac per month is not easy. 1-2 times a year is possible for most people if they consolidate all your spends on one card.

 

[kejriwal]

E

I think this is for normal rewards, not for milestone

Exactly

 

[SubhankarSubhankar is verified member.]

yeah, but then how many will be too many...i mean what will be sweet spot for bank for number of customers to have, and beyond what devaluations will start, but then people will also start moving on to other cards...any insights from infinia devaluations

@TechnoFino
@Subhankar
@bhavyegoel

Any comments?

It depends on what the individual bank has planned. Could be many more reasons. Specifically which for this specific scenario is hard to assume

 

[LogOut]

The current reward structure of magnus is not sustainable. Magnus might get transformed into a tiered card.
Future possibility of tiered card: Normal magnus with 5:1 reward rate. Magnus with burgundy account will have a 5:2 transfer rate. Magnus with a burgundy elite (new axis acc tier) and above will have a 5:4 transfer rate. Milestone benefits limited to burgundy elite and above. This will be like citigold and citi private account holders earning higher bonus points on citi prestige cards.