Introducing a new rewards structure at Jupiter šŸŽ

News from Jupiter
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21

There is something going on in Jupiterā€™s teamā€™s mind otherwise they would not have changed the structure.

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22

the new model will be easier for devaluation in future
and less of a monetary burden on them if people redeem for brand voucher instead of direct cash

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23

Are you joking fr?right? :woozy_face:

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24

  • I am a big fan of 1:1 structure because it gives a clear understanding of the whole reward structure.

  • 1:5 sometimes creates confusion in mind and a lot of calculations (e.g., if we have received 4 jewels for spending ā‚¹100 for bill payment)

  • Right now, it seems that there is no difference after looking at the new reward structure because of 5 jewels on 100 spends.

  • I want that there should be no devaluation in the future. Hope for the best.

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25

whenever banks do these 2x 5x 10x stuff, they open doors for future devaluation, which is inevitable if it becomes popular.
so if you want no future devaluation, then youā€™d have to pray for less usage/popularity of these feature/app.

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26

But they have capped various rewards isnā€™t that a limiting factor.

27

You shouldnā€™t make it this complex and difficult, 1Jewel=1 Re was perfect and easy. You couldā€™ve simply changed the value for Brand Vouchers. This opens up for Jupiter to further devalue the Jewels

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28

I think that change occur due to upcoming credit card from Jupiter

29

Letā€™s look at the silver lining - there is no earning of jewels in fractions as that could have been even more interesting.

While I am using Jupiter for the past 6 months, I am sure some of the more tenured users have benefited from the 1:1 conversion ratio. They would agree that sustained 1:1 redemption ratio is not sustainable in the long term

30

If you are going to make it 5x, then do one more step and make it 10x. It will be easier for us to understand and calculate and you wouldnā€™t have to make changes if any in the future. 10x devaluation would be better than 5x devaluation, we can omit the last digit in our mind while doing calculations. This is my opinion. What do you folks say? @Jiten @Shawnpinto @Ankit_Misra

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31

Felt this is unnecessary change. Simpler the app (and calculations) happier the customers.

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32

yes, but that doesnā€™t ensure that further devaluation will not happen in future.
banks can do a series of that till theyā€™re satisfied.
if youā€™re a CC enthusiast and keep tabs on those, youā€™ll know.

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33

Totally unnecessary changes there is no need to do any changes if you donā€™t have better idea. Please donā€™t reduce the experience in the Jupiter. It is completely foolness if you do this change.

34

Companies canā€™t survive on giving the freebies and rewards.
At some point or other, everyone will start devaluation.
This can be considered as a step towards devaluation where when the vouchers are introduced, there might be catalogue of different no.of jewels for different brands and also to get their rewards in sync with their CC offering which is about to be launched.
Seeing this now, I expect the reward structure to be very much similar to OneCard and Fi Credit card who offer 5X rewards on top brands.

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35

If I only consider the number of points earned and compare it to HDFCā€™s platinum debit card - Jupiter will offer 5 jewels for every 100 spent and HDFC offer 1 point for every 100 spent.

Again, before someone jumps up, this is just comparing the number of points offered and not the redemption options.

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36

Reading the comments, i think Itā€™s safe to say, not a single person from the community supports this change.

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37

I previously told in community that they will devalue reward point in case jewels :rofl: for the credit cardā€¦ They only do this for only the CCā€¦ But the old reward is same for the DC and upi :rofl: ( 750/5 = 150 for dc and 500/5= 100 for upi ) ā€¦ Letā€™s see the CC cashback per spentā€¦ Looking forward

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39

And if I donā€™t want thi type of update. So, what to do???

40

@Shaikh.Jafar Welcome to the Communityā€¦I donā€™t think a user can opt for the old/present reward structure once the new reward structure gets implemented soon, Since itā€™s not user-specific, it applies to the entire Jupiter account holders (pro and salary account holders)

41

Theyā€™ve been gracious enough to make an announcement to the community and gather feedback.

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