Post milestone is Magnus still more rewarding than AmEx Platinum Charge for domestic and forex transactions?

[yashendra2797]

I don’t hold a Reserve and have hit my milestone this month. I still have to make a lot of bookings for a trip abroad totaling ~3L and I was wondering if I should switch to using AmEx or will Magnus still be more rewarding. I also have a Vistara Infinite on which I haven’t hit any milestones yet.

Also with 3X MR is AmEx more rewarding than Magnus when spending in Euros?

 

[yashendra2797]

I

- Post 1L, magnus gives you 12RP for 200 which can be utilized 5:4 transfer partners, no extra benefits.

- Amex usually, € -> $ -> ₹ (each has forex fee).

Your options:

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Is it confirmed that AmEx converts to USD first?

 

[CCUser_1999]

Even with Amex Plat 3X offer, you get 7.5 points per Rs.100 with a Forex charge of 4.13% (3.5%+18% of 3.5%). Even if you assume reward point value at Rs.0.50 per point (Taj Voucher conversion, you can sometime get higher value through Marriott but that required lot of planning and luck), you end up incurring fee of 0.225%.
For Magnus, even after 1Lakh milestone (Till 1 lakh there is no comparison), you get 6 Reward points eq to 4.8 miles for many partners like Vistara/Accor etc. Rs.0.8 is fair value for these points (here also option to get considerable higher value on business class tickets and Accor conversion). This comes with a fee of 2.36% (2% + 18% of 2%). With this you will be getting reward rate of ~1.57%.
Only variable pending above is the exchange rate. In my experience the exchange in Visa is better more often than not. Also the difference in reward rate will never set off any exchange rate difference.
As evident from above calculations, I strongly believe that Magnus make lot more sense for Forex spends vs the Amex Platinum.

Comparison between Vistara Infinite and Magnus becomes lot more subjective. Vistara infinite also has a good rate but need to consider 2 thing for the same. The conversion fee is 3.5% vs 2% of Magnus. Also the reward rate largely depends on value you put on the business ticket. For every 2.5Lakh spend on Infinite, you will end up paying INR 4425 as additional Forex fee and get 4500 less Vistara point vs Magnus. In your view, if that is worth a business class ticket, you can very well go for Vistara infinite. If you can hit the milestones in domestic spends, its prudent to use Vistara infinite for domestic spends and put international spends on Magnus so as to avoid the addition INR 4425 which you are paying in forex fee.

Hope above helps.

 

[yashendra2797]

Even with Amex Plat 3X offer, you get 7.5 points per Rs.100 with a Forex charge of 4.13% (3.5%+18% of 3.5%). Even if you assume reward point value at Rs.0.50 per point (Taj Voucher conversion, you can sometime get higher value through Marriott but that required lot of planning and luck), you end up incurring fee of 0.225%.
For Magnus, even after 1Lakh milestone (Till 1 lakh there is no comparison), you get 6 Reward points eq to 4.8 miles for many partners like Vistara/Accor etc. Rs.0.8 is fair value for these points (here also option to get considerable higher value on business class tickets and Accor conversion). This comes with a fee of 2.36% (2% + 18% of 2%). With this you will be getting reward rate of ~1.57%.
Only variable pending above is the exchange rate. In my experience the exchange in Visa is better more often than not. Also the difference in reward rate will never set off any exchange rate difference.
As evident from above calculations, I strongly believe that Magnus make lot more sense for Forex spends vs the Amex Platinum.

Comparison between Vistara Infinite and Magnus becomes lot more subjective. Vistara infinite also has a good rate but need to consider 2 thing for the same. The conversion fee is 3.5% vs 2% of Magnus. Also the reward rate largely depends on value you put on the business ticket. For every 2.5Lakh spend on Infinite, you will end up paying INR 4425 as additional Forex fee and get 4500 less Vistara point vs Magnus. In your view, if that is worth a business class ticket, you can very well go for Vistara infinite. If you can hit the milestones in domestic spends, its prudent to use Vistara infinite for domestic spends and put international spends on Magnus so as to avoid the addition INR 4425 which you are paying in forex fee.

Hope above helps.

This genuinely helped a shit ton. I'll make my transactions on Magnus, and keep VI as a backup, Thank you so much. While I have to make the majority of my spending this week, I have applied for a Reserve just because my spends will cross 1L next month as day to day expenses won't be pre paid.

 

[CCUser_1999]

This genuinely helped a shit ton. I'll make my transactions on Magnus, and keep VI as a backup, Thank you so much. While I have to make the majority of my spending this week, I have applied for a Reserve just because my spends will cross 1L next month as day to day expenses won't be pre paid.

Latest update. There is devaluation in Magnus redemption. Hold your spends for a day or two till dust settles and we get clarity.

 

[yashendra2797]

Latest update. There is devaluation in Magnus redemption. Hold your spends for a day or two till dust settles and we get clarity.

I just saw. Can't believe I've been holding this card from the year it came out, and it gets devalued the first month I spend 1L on it.

I was young and dumb and spent on VI for 3 years. Had no idea about the Milestone benefits, annual gift, or meet and greet.

 

[CCUser_1999]

I just saw. Can't believe I've been holding this card from the year it came out, and it gets devalued the first month I spend 1L on it.

I was young and dumb and spent on VI for 3 years. Had no idea about the Milestone benefits, annual gift, or meet and greet.

No worries. just hold your spend for few days. There definitely a combination exists which can help you get return on 5-10% on your international spends.

 

[yashendra2797]

Even with Amex Plat 3X offer, you get 7.5 points per Rs.100 with a Forex charge of 4.13% (3.5%+18% of 3.5%). Even if you assume reward point value at Rs.0.50 per point (Taj Voucher conversion, you can sometime get higher value through Marriott but that required lot of planning and luck), you end up incurring fee of 0.225%.
For Magnus, even after 1Lakh milestone (Till 1 lakh there is no comparison), you get 6 Reward points eq to 4.8 miles for many partners like Vistara/Accor etc. Rs.0.8 is fair value for these points (here also option to get considerable higher value on business class tickets and Accor conversion). This comes with a fee of 2.36% (2% + 18% of 2%). With this you will be getting reward rate of ~1.57%.
Only variable pending above is the exchange rate. In my experience the exchange in Visa is better more often than not. Also the difference in reward rate will never set off any exchange rate difference.
As evident from above calculations, I strongly believe that Magnus make lot more sense for Forex spends vs the Amex Platinum.

Comparison between Vistara Infinite and Magnus becomes lot more subjective. Vistara infinite also has a good rate but need to consider 2 thing for the same. The conversion fee is 3.5% vs 2% of Magnus. Also the reward rate largely depends on value you put on the business ticket. For every 2.5Lakh spend on Infinite, you will end up paying INR 4425 as additional Forex fee and get 4500 less Vistara point vs Magnus. In your view, if that is worth a business class ticket, you can very well go for Vistara infinite. If you can hit the milestones in domestic spends, its prudent to use Vistara infinite for domestic spends and put international spends on Magnus so as to avoid the addition INR 4425 which you are paying in forex fee.

Hope above helps.

With the 5:1 changes confirmed for Reserve and most likely incoming to Magnus as well, will AmEx give higher returns in forex transactions now?

Also I might be getting a Reserve by this weekend. Will Reserve beat out AmEx with the 2X ER?

 

[thanix]

With the 5:1 changes confirmed for Reserve and most likely incoming to Magnus as well, will AmEx give higher returns in forex transactions now?

Also I might be getting a Reserve by this weekend. Will Reserve beat out AmEx with the 2X ER?

Why do you even want to have Reserve with 59k fees after the devaluation to 5:1 unless it is FYF or LTF?

 

[yashendra2797]

Why do you even want to have Reserve with 59k fees after the devaluation to 5:1 unless it is FYF or LTF?

FYF, plus the soft rewards like Accor, and ITC Culinaire look worth it to me.

 

[Ankur dhanda]

FYF, plus the soft rewards like Accor, and ITC Culinaire look worth it to me.

How did you get it FYF?

 

[yashendra2797]

How did you get it FYF?

Company is footing the bill

 

[thanix]

FYF, plus the soft rewards like Accor, and ITC Culinaire look worth it to me.

Then, great. If you are purely looking at currency Mark up, the reserve at 1.5% is anyday better than Amex.