Doesn't Amex card trumps cards like ICICI Apay or Axis Flipkart
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As ICICI Apay/FK Axis cards promise 5% on select merchants(amazon/fk/myntra) and 1.5%/1% in all,
Amex however kinda gives more than 7% overall.
For example I have Amex Gold, and Amex MRCC, If I do 1.5k/4txns and 1k/6trxns on these card per month, I get 2,000 points (1k/card).
So, doing this for 8 months means 18k points which is 7000 INR on amazon/fk. So basically I am spending 6000/gold/mrcc card. 12k/month , and if we do this for 8 months , that's - 96,000. These spending itself gives u points too as 50rs/1point so, if u spend 96,000 that's 1920 points, So 2k points for 8 months = 16k points + 1920 = 17920 points. Spend 4k randomly gives u 80 points.
So basically if u spend 1k,1.5k/card 6/4 trxns and 4k separate for 8 months. You get 7000 amazon/fk voucher.
So, how much is that?? 1L spending = 7k cashback in the form of voucher. That's exactly 7%.
If amex is giving 7%, why are we using amazon/fk cards where there is a fees for FK and there is charge for prime account of 1k anyways.
This Q is only for amex users. Pls tell me was I wrong in keep using FK axis/apay card frm years?? when I can simply use my amex card for 7%.
Yes we can use axis/icici cards when there is a sale and it gives 10% or more or so but not normally is what I am saying. If I am wrong let me know.
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I get the point.
But there are many other things to consider.
1, Annual charges for these cards
2, Acceptance (as above comment pointed many times I face embarrassing situation of not Acceptance, as well as some good smiles for AMEX card)
3, If you need to buy something in 3-4K range or above you cannot split the bill to 1500 or 1000 as you calculated.
4, Adding from Credit cards to wallet has been a pain from many days and this will continue. + Add acceptance on top of it
What is the charges paid for gold card?? And is the MRCC complimentary with gold card??
Since you hold both card and combined spend of ₹1.2L giving you annual fees waiver? I mean 1.2L is easily achieved using 2 cards 1.5*4*12*2(cards) = ₹144000.
+1
2. The moment you increase your spending beyond 6000 per month, the cashback percentage will go down for u.
3. Most importantly, as another dimer mentioned, you can not make every transaction to be Rs. 1500.
I believe, It can only be beneficial if you make remaining 78k spends as artificial spend in order to avoid renewal charges.
Also, if I am not wrong, Amex Gold card has no fee waiver/reversal policy irrespective of spends.
MRCC reverses 100% fee upon reaching a spend target of Rs. 150000 in previous year.
Guys the most important thing here is.
Apay/FK gives you 5% in select retailers online.
Amex gives you 7% anywhere and everywhere , where-ever it is accepted.
Paytm+zomato is very unreliable, worked just one time for me, the end
offline Amex is no merchants simply deny saying it won't work
online there are always easy discount or CB offers so Amex is not a priority/beneficial
-my exp
Amex MRCC 1.5k * 4, needs no spends if you have a supplementary amex card. Easy via PayTM and paying CC bills. There are other ways too which doesn't need spending, but I won't advise them as it might get questioned.
You can anyways get this 4-5K points without any effort.
So now if you remove this 6k spend & point valuation aside, how can one get 5% on amazon/ FK. One will need Apay or FK axis or SBI CB card.
I for one, would use apay / fk axis card and be happy .
you are spending 1 lakh of INR on amex a year to make 7%
while people using az and fk cards spend Lakhs in a day
Try doing this in amex and calculate the reward ratio
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Keeping the accuracy of all your math aside, I have been struggling to find acceptance for Amex cards in general. Many online and offline merchants don’t accept Amex and reaching spend targets is such a pain.