Axis Magnus Closure and conversion

[pranavk]

I know this discussion has been made a few times, but wanted to be sure and hence the question.

I want to close my Axis Magnus , but the retention team called and mentioned that they can convert the Magnus to Select with no charges.

I have around 80k edge reward points and my concern is would the conversion ratio of 5:2 be affected after I convert the Magnus to any other card.

And also would the edge rewards lapse after the closure.

 

[sourpai]

Transfer the points before Magnus closure.... transfer ratio without Magnus is very bad.. I think it is 5:1. So you will loose half the value of points instantly if you close before transfer.

Also, once you close, take Axis Atlas as replacement instead of Axis select. Atlas is a paid card, but provides better value even if paid

 

[pranavk]

thanks for the quick reply.

So without the Magnus , there is a default ratio is it ?

Not sure on where to transfer and park the edge rewards and wanted to buy some time.

I do hold the Atlas.

 

[sourpai]

Accor is the best option value wise....

If you already hold Atlas then no need to take Select... just close Magnus... you can choose to take Axis Airtel Rupay if you use Airtel services... or take Axis supermoney pro at a later date, when available for UPI payments

 

[pranavk]

Accor is the best option value wise....

If you already hold Atlas then no need to take Select... just close Magnus... you can choose to take Axis Airtel Rupay if you use Airtel services... or take Axis supermoney pro at a later date, when available for UPI payments

understood.

just so that my stupid brain gets it.

Closing magnus would still mean that the edge rewards are available, and can be transferred at 5:2 ratio

 

[Wealth is my birth right!]

Yes with burgundy 5:4 if normal 5:2 but if u close card it’s too risky the resultant we don’t know
Better move out rewards before closing

 

[sourpai]

understood.

just so that my stupid brain gets it.

Closing magnus would still mean that the edge rewards are available, and can be transferred at 5:2 ratio

Was it not clear in my earlier post?

Transfer the points before Magnus closure.... transfer ratio without Magnus is very bad.. I think it is 5:1. So you will loose half the value of points instantly if you close before transfer.

 

[bing1309]

I know this discussion has been made a few times, but wanted to be sure and hence the question.

I want to close my Axis Magnus , but the retention team called and mentioned that they can convert the Magnus to Select with no charges.

I have around 80k edge reward points and my concern is would the conversion ratio of 5:2 be affected after I convert the Magnus to any other card.

And also would the edge rewards lapse after the closure.

Axis Magnus 5:2 for 5 points you get 2
Axis Select 5:1 for 5 points you get 1

if you close your magnus you will loose 5:2 option and within 30 days you will loose entire points
if you take Select by downgrading your magnus you will get 5:1 ratio

closing Magnus by upgrading to Select will not close your Edge Points your points will retain as it is as your downgrade card is in same points categories hence your entire points will be there but the transfer ratio will be reduced from 5:2 to 5:1


Hope this information clears you

 

[pranavk]

ohh yes , thanks @sourpai , @bing1309 , @Wealth is my birth right!

Moved around 50k of them to krisflyer , have around 30k edge rewards remaining.

What would be the best way to optimise these , would have to travel to Europe this year.

Already have 60k united miles currently.
So was thinking of moving the 30k ER to Virgin Atlantic for better value , what would be the way to do this , via ITC -> Marriott -> Virgin Atlantic , would this be optimal.

Any other suggestions, more than willing to take them since I'm planning to convert them today.