Amex not approving Jewellery transactions for the first 6 months

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Last Comment 2021-02-16

2021-02-15

Amex not approving Jewellery transactions and Cash withdrawals for the first 6 months, for new card deliveries. My friend had faced this issue to avail Tanishq offer and it was declined. Looks like they are saying its part of the Welcome Kit/Terms and conditions and its non-negotiable. So, please be mindful if you recently got the credit card.

https://www.americanexpress.com/content/dam/ame...

“We reserve the right to deny authorisation for any requested Charge. American Express reserves the right to decline all or any jewellery transactions. You agree to ensure that any Additional Cards issued on your Card Account are used in the manner consistent with this clause. Further you also agree and understand that if you are required to get your passport endorsed for any such Charges incurred by you as stipulated by RBI, the onus of getting the passport endorsed shall lie entirely on you. For contact details please refer to the last page of this agreement. American Express reserves the right to decline all or any jewellery transactions.”

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https://www.desidime.com/discussions/amex-not-approving-jewellery-transactions-for-the-first-6-months?page=1#post_7391304

andromeda

2021-02-15

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Looks like other card providers may also go in similar path

https://www.desidime.com/discussions/amex-not-approving-jewellery-transactions-for-the-first-6-months?page=1#post_7391757

dummyuser

2021-02-15

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this is weird but what harm gets done to them had they approved it ?

https://www.desidime.com/discussions/amex-not-approving-jewellery-transactions-for-the-first-6-months?page=1#post_7392803

guest_999

2021-02-16

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Avg jewellery transaction size is large which in any other case would have counted as commercial usage(e.g. 1 lakh electricity bill payments in one go or in 2-3 months, yes people have done this on credit cards). Card reward points are like insurance, if everybody starts claiming insurance then insurance company will go bankrupt. Card reward points are basically promotion & card companies earn mainly from those doing emi transactions & revolving credit on cards(aka paying min due amount & less than total due amount every month).