In this thread, I am going to write why you should get axis reserve even if you're holding axis, Magnus. This applies to you if
1L of spending on Magnus is getting covered by rent, utilities, insurance, etc itself.
I will explain how reserve will be more beneficial for over 1L spends as compared to Magnus and how it justifies its 59,000rs annual fees.
The main purpose is how we can cover 59,000 rs, so let's start.
For this, we will consider 1 reward point = 0.8 miles = 0.8rs. So from now on 1reward point=0.8rs.
Base reward points - Magnus vs reserve
Magnus - 6/100rs = 4.8miles/100 = 4.8 (rs/%)
Reserve - 7.5/100rs = 6miles/100 = 6 (rs/%)
So essentially we get a difference of 1.2rs per 100 Rs spent.
For gyftr reward multiplier it becomes.
Remaining - 59,000 Rs
40k miles yearly bonus
Remaining 19,000 Rs
Shopping on myntra for 50k/year via gyftr voucher(10x)
Additional reward earned - 12*500 = 6000
Remaining 13,000 Rs
Shopping on amazon(electronics,etc) for 80k/year via gyftr voucher(5x)
Additional reward earned - 8*500 = 4000
Remaining 9,000 Rs
Grocery via swigyy-instamart/spencer 30k/year via gyft (5x)
Additional reward earned - 6*300 = 1800
Remaining 7800 Rs
Dining vouchers via gyftr (10x) - 30k/yr
Additional reward earned - 12*300 = 3600
Remaining 4200 Rs
Travel vouchers via gyftr(10x) - 35k/year
Additional reward earned - 12*350 = 4200
Remaining 0 Rs
Over and above we get the following benefits.
1L of spending on Magnus is getting covered by rent, utilities, insurance, etc itself.
I will explain how reserve will be more beneficial for over 1L spends as compared to Magnus and how it justifies its 59,000rs annual fees.
The main purpose is how we can cover 59,000 rs, so let's start.
For this, we will consider 1 reward point = 0.8 miles = 0.8rs. So from now on 1reward point=0.8rs.
Base reward points - Magnus vs reserve
Magnus - 6/100rs = 4.8miles/100 = 4.8 (rs/%)
Reserve - 7.5/100rs = 6miles/100 = 6 (rs/%)
So essentially we get a difference of 1.2rs per 100 Rs spent.
For gyftr reward multiplier it becomes.
- 5x - 6rs/100
- 10x - 12rs/100
Remaining - 59,000 Rs
40k miles yearly bonus
Remaining 19,000 Rs
Shopping on myntra for 50k/year via gyftr voucher(10x)
Additional reward earned - 12*500 = 6000
Remaining 13,000 Rs
Shopping on amazon(electronics,etc) for 80k/year via gyftr voucher(5x)
Additional reward earned - 8*500 = 4000
Remaining 9,000 Rs
Grocery via swigyy-instamart/spencer 30k/year via gyft (5x)
Additional reward earned - 6*300 = 1800
Remaining 7800 Rs
Dining vouchers via gyftr (10x) - 30k/yr
Additional reward earned - 12*300 = 3600
Remaining 4200 Rs
Travel vouchers via gyftr(10x) - 35k/year
Additional reward earned - 12*350 = 4200
Remaining 0 Rs
Over and above we get the following benefits.
- Accor 2 nights + 4person buffet - 12k rs approx
- Airport transfer 4/yr - 4k rs approx
- Additional 10k pts/month on grabdeal. Spending 3200 for shopping on marks and spencer (45x) will get you this.
- 6% return instead of 4.8% on other pos/online purchases.
- 10% return on international spends.
- Additional BMS benefit. - Very less additional benefit.
- ITC/Mariott membership - If required in worst case.