u/Accomplished-Fill-35 — reddlx

Air India's Maharaja Club Points Fest is back, offering up to a 50% bonus on converted partner reward points. This bonus is tempting for anyone eyeing an Award Flight or Cabin Upgrade.

I'm wondering, are you planning to convert any of your card points, and at what rate? I know conversion rates vary wildly by bank and card, which makes the decision tricky:

• HDFC Bank: If you have an Infinia/Diners Black (like my Diners Black card), the base conversion is 2:1 (2 HDFC points = 1 Maharaja Point).

• Axis Bank: Ratios are all over the place, from 1:4 on the Olympus to 20:1 on some entry-level cards.

• ICICI Bank: High-end cards like the Emeralde Private Metal and Times Black get a great 1:1 ratio, but other cards like Rubyx are stuck at a pretty bad 6:1.

The question is, does the "up to 50% bonus" make even the less favorable ratios (like 3:1 or 5:2) a decent value right now?

Any suggestions, I have 100k ICICI EPM and 70k DCBM?

I finally got my Axis Magnus for Burgundy (M4B) delivered, but it feels like I arrived at the party just as the lights were being turned off. With the Accor removal and the general shift in transfer ratios, I’m struggling to see where this fits into my current rotation.

My Current Stack:

• Axis M4B (New)

• HDFC Diners Club Black Metal (DCBM)

• ICICI Emeralde Private Metal (EPM)

Spend Profile:

My monthly spend is consistently >₹2L. Currently, I’ve been leaning heavily on the EPM for vouchers and flights specifically to funnel everything toward voucher at a 1:1 ratio. I value that guaranteed 1:1 value for flights/hotel redemptions.

The Dilemma:

With the M4B in hand, is there any logical reason to divert that ₹2L+ spend away from the EPM/DCBM combo?

For those still holding M4B post-devaluation, what are your primary redemption partners now? Are you sticking to KrisFlyer/Air India at 5:4, or is there a hidden gem I'm missing?
Does the math for a 5:4 transfer actually beat a stable 1:1 Tanishq redemption when you factor in the "Magnus tax" (high fees and frequent devaluation risk)?
Is anyone using M4B for anything other than international air miles at this point?

I’m curious how others with this specific "Big Three" stack are balancing their spends to maximize value. Any insights would be appreciated!