Hope you are doing great! We want to give you an early update regarding a new rewards structure at Jupiter
We strive to make everything money easy and rewarding. There are already millions of users earning Rewards on Jupiter with more and more joining us every day.
In order to create more opportunities to earn Rewards in the future, we are making certain changes to how you earn and redeem Jewels. Under the new rewards structure, we are also working on how you can redeem these rewards for more value of brand vouchers, offers, and discounts.
We assure you that there will be no impact to your current rewards.
More details are below:
When does this go live?
The following changes will happen towards the end of May. More updates on this soon. Users will receive an email.
Let us know your thoughts on the above construct and stay tuned for more updates
Why you guys are making it more complicated
I think there should be 50X Jewels on UPI and Debit card transactions and 50 Jewels = 1 Rupee
Hello @Ankit_Misra Sir, it’s great to see you again after a while.
I am not sure why I am a fan of the current reward system, but maybe it is because of 1 jewel = 1 Rupee tag. It’s a straightforward calculation that even a child can understand. In my opinion, the new reward structure seems a bit confusing and complicated (possibly because it is newly introduced).
I’m sure the new reward structure is introduced due to upcoming credit card offerings.
Nothing has changed but everything has been multiplied by 5. The values for the jewels are the same. You will get the same 1% cashback.
I fail to understand why this restructuring is happening could you please provide more clarity as of now it just looks more confusing to a lay man. Everything looks same just playing around with the numbers or Am I missing something?
Why you are making the calculation difficult? After all the benefits are same only. I hope Jupiter team is not trying cheat their customers intensely.
It appears that Jupiter may choose to utilize their current Jewels reward system for their credit card, with a possible offering of 5x jewels for credit card expenditures. It’s possible that they may need to restructure the rewards system to accommodate this change, but ultimately, it’s likely that users will receive the same value of rewards as they have in the past.
It is not as bad as cred having 4 different reward coins/tickets.
@Ankit_Misra with a fairly straightforward rewards structure of 1:1, any modification to this ratio will face pushback.
Just want to clarify- will the new conversion ratio apply to the existing jewels that the users have earned? Also, while the revised structure applies to jewels earned from debit card & UPI transactions, will the same redemption ratio apply to jewels earned as rewards for participating in lab tests or identifying a bug?
Currently structure is pretty neat. No confusion on the reward points conversion. This is the good thing I like at Jupiter. Even though rewards are unlocked after 15 days, people are not complaining as it’s straight forward and easily understandable.
With this new rewards structure, you are making is complex for sure with unnecessary calculations. Hope you review your approach on this.
Also, be ready to get a lot of questions to your customer care teams on this.
On similar note, I don’t like about Fi is their rewards program where the conversion is not at all clear and that’s why I don’t use Fi much.
Saurabh, that could be the case. But as of we can only speculate.
@razack Still Paytm Cashback point has more value than Cred coins😁
Please don’t depreciate the value of Jewels,
It has the same value as our country’s currency which is one of the reasons for getting attracted towards Jupiter,
Don’t make it look like those ancient card reward points features.
Stay the same it’s already better.
I am glad to see you back after a while.
At first, I too had concerns about the devaluation of jewels and jumped to conclusions all of a sudden, but upon closer examination, it seems that there is no such thing currently. The jewels, as well as the maximum limit, get multiplied by 5, and since there is an increase in the monthly limit, there is no devaluation. Thanks, @ManishSaini for clarification.
I agree with you that it will take some time to adjust to the new reward system.
Now it is 1 j = 1 rs
Later it wil be 5 j = 1 rs
Is it not devaluation in compared to rupees?
It doesn’t matter whether i earn 750 or 500 jewels, in the end it is same 150 rupees or 100 rupees. No limit increased. @razack
But this does open up jupiter a number of other opportunities to give rewards.
For example if they give 1% back for bill payments in jewels, realistically it would be 0.2% in rupees but in current system it would not be possible to do so.
So it would be interesting to see what other offers they will come up with.