Hot Deal

Isn't Amex MRCC one of the most rewarding credit card for a medium level spender?

1093°
Coupon Connoisseur
IamRage
Disclaimer: I am writing this post not for any promotions/self benefits, just thought of sharing this to explain how I see this card and its benefits from my perspective American Express Membership Rewards Credit Card is an entry level card just above smart earn Annual Fees -- 1500 via referral, waived off on spends of 1.5 L or above and 50% waived off if spend 90k or above Main USP of this card - 1000 extra reward points for 4*1500 transactions in a month and 1000 extra rewards points for monthly spend of 20000 and above I used to load Mobikwik 3*1500 and used to buy a amazon voucher of 1500 every month and used it to recharges / pay bills like Electricity, Water, Broadband, Insurance Premium, DTH etc. At least twice in a year this card would come with a targeted offer of 10% cashback in Amazon even applicable for purchase of gift cards (have seen the same in last 3 years at least) 1 reward point for every 50 Rs spend, 1 reward point = 0.375 Rs in cash or 0.388 in Amazon voucher (Explore Amex Gold Collection to understand better) 24000 points required for 9000 cash statement, 18000 points required for 7000 Amazon voucher Below is the way in which I calculate the returns on this card (based on my average spends) 4*1500 amazon e-voucher purchase via Amex reward multiplier portal (2x on 50 spends) gives 240 points in a month or 2880 points in a year 1000 extra points every month from above spends gives 12000 points in a year 20000 amazon voucher once in a year when 10% offer is applicable gives 2000Rs as cashback the above spend would also give 400 regular points + 1000 bonus points so total 1400 points Total spends = 92000 Rs (6000*12 + 20000) , eligible for 50% fee waiver Total reward points + cashback value = 16280 points , which in cash is 6105 +2000 (cashback) = 8105 Rs 50% fee = 885 Rs (750 + 18% GST) Final Benefit = 8105 - 885 = 7220 Returns on spending 92000 = 7.85% if redeemed for amazon voucher returns would be ~ 8.08% PS:- Currently American Express is banned from sourcing new cards
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Generous Generous
Link Copied

YES , also add 24×7 customer care support voice+chat , and they are the best voice , i like there waiting tune even sunglasses
also they dont make bitchy term condition like no wallet support or anything,

only drawbacck i think is no lounge access and some shop dont have support, keep a rupay platinum debit card and paytm/upi or some other for it

Finance Ninja Finance Ninja
Link Copied
Amex & RuPay should launch co-badged credit cards or Dual EMV chip credit card like Union bank card - One side card will work on Amex network and another side card will work on RuPay-JCB network. Credit card customers first prefer to use Amex network because of higher rewards benefit and where Amex doesn't accept, customers will use RuPay-JCB network. grinning
71 Comments  |  
27 Dimers
  • Sort By
Deal Cadet Deal Cadet
Link Copied

Thanks for the detailed post. Finally someone clearly explained how to make optimum use of MRCC. Had never bothered to get an Amex card as reward system seemed too complex.

Can you provide a comparison of returns of this card with Gold Charge and Platinum Travel (including 4L milestone benefits)?

Coupon Connoisseur Coupon Connoisseur
Link Copied

To be honest, I don’t have the right knowledge to compare Platinum Travel with MRCC as it is more of a travel segment oriented card which I never explored.
for Gold Charge card I guess the main difference comes as you don’t have to bother much about the limit and rest of the features is almost similar except gold card being 5x via reward multiplier and 20000 monthly spend reward being not available in gold card

View 1 more reply
Deal Subedar Deal Subedar
Link Copied

would be it better to buy Amazon GV from smartbuy thorugh HDFC CC ?
It gives 5% cashback credit in bill.

and when you but anything through Amazon GV, you will not get any card offer running.

Generally i purchase Amazon GV for bill payment and smartbuy purchase for any item order. so in both i get 5% cashback in bill credit.

and now it is very difficult to reach 18k points in Amex.

Coupon Connoisseur Coupon Connoisseur
Link Copied

Yes, Amex also runs 10x, 15x offers frequently mainly during festival time and when some big sales are available.
Would also get decent offers time to time like the ones I mentioned above 10% cashback on Amazon , Flipkart etc and cashback would be credited within 5 days.
I am also using a HDFC CC as well, based on my spends I found MRCC was more rewarding than the former, it would absolutely differ from person to person as spend patterns would differ

“when you but anything through Amazon GV, you will not get any card offer running” – True, but the voucher which we accumulated is already a discounted one and can mainly use to pay bills, insurance premium etc

18k points can be achieved in a minimum of 14 months based on a normal usage

Deal Cadet Deal Cadet
Link Copied

Wow, nicely posted. I will try to get one once ban is lifted blush

Finance Ninja Finance Ninja
Link Copied

I am also waiting for RBI to lift Amex ban.
Any idea when they’ll lift it?
What are the chances of card approval?🤔

Deal Legend Deal Legend
Link Copied

Chances of card approval are pretty good for smartearn and mrcc cards

View 2 more replies
Generous Generous
Link Copied

YES , also add 24×7 customer care support voice+chat , and they are the best voice , i like there waiting tune even sunglasses
also they dont make bitchy term condition like no wallet support or anything,

only drawbacck i think is no lounge access and some shop dont have support, keep a rupay platinum debit card and paytm/upi or some other for it

Finance Ninja Finance Ninja
Link Copied
Amex & RuPay should launch co-badged credit cards or Dual EMV chip credit card like Union bank card - One side card will work on Amex network and another side card will work on RuPay-JCB network. Credit card customers first prefer to use Amex network because of higher rewards benefit and where Amex doesn't accept, customers will use RuPay-JCB network. grinning
View 29 more replies
Deal Subedar Deal Subedar
Link Copied

is 2x rewards applicable on gv?

Coupon Connoisseur Coupon Connoisseur
Link Copied

Yes when you buy thru their gytr portal
gyftr . com / amexrewardmultiplier
also the extra points would get credited mostly in very next day or two

View 2 more replies
Helpful Helpful
Link Copied

Also 1k points on 20k spend.
10x and 5x points with smartearn companion card on az fk and reliance n dmart helps reaching 18-24k points

Finance Ninja Finance Ninja
Link Copied

Must add this once ban is up

Finance Mentor Finance Mentor
Link Copied

Please edit, make this phrase in bold & add the fees when it is acquired without referral along with renewal charges- Annual Fees — 1500 via referral, + 18% GST. and Renewal fee Rs.4,500 + 18% GST without referral

Coupon Connoisseur Coupon Connoisseur
Link Copied

Sure, will make it. right now I am not able to edit the post will try in sometime again

Helpful Helpful
Link Copied

Any suggestions how to spend 4 * 1500 transaction,tried all wallet option but not working.

Coupon Connoisseur Coupon Connoisseur
Link Copied

I am personally loading 3*1500 in mobikwik wallet and buying an amazon voucher e-voucher via reward multiplier portlet (eligible for 2x). Next month onwards I would consider buying the e-voucher itself 4*1500

Deal Cadet Deal Cadet
Link Copied

very well written about the usage but I am not able to understand the benefir of buying amazon GV from Mobikwik and then later used in Amazon. I nstead directly add the money Amazon pay directly.

Please explain this maths.

Coupon Connoisseur Coupon Connoisseur
Link Copied

if you are referring to this statement “I used to load Mobikwik 3*1500 and used to buy a amazon voucher of 1500 every month” then what I meant was 3 out of 4 transactions of 1500 was done in mobikwik (1500 wallet load each) and used that for mobikwik payments only and then for the 4th transaction I used to buy an Amazon voucher via reward multiplier. But since last month mobikwik  made some changes to the supercash utilization and now loading mobikwik doesn’t seems much beneficial, instead I would buy 4 amazon vouchers of 1500 each via reward multiplier  

Deal Cadet Deal Cadet
Link Copied

ok bro but please explain more about rward multipier. What is this all about.

Coupon Connoisseur Coupon Connoisseur
Link Copied

This is similar to HDFC smartbuy portal where you get additional benefits when the purchase is done via this portal, 

pls refer - 

https://www.americanexpress.com/in/benefits/rew...

Deal Cadet Deal Cadet
Link Copied

ok..good info bro

Helpful Helpful
Link Copied

Earn 1 Membership Rewards® Point for every Rs. 50 spent except for spend on Fuel, Insurance, Utilities, Cash Transactions and EMI conversion at Point of Sale2.

How to earn rewards then 😳

Helpful Helpful
Link Copied
On amazon flipkart?
Benevolent Benevolent
Link Copied

off topic have Amex started issues LTF cards yet ?

Finance Mentor Finance Mentor
Link Copied

Never heard of LTF Amex till there is some corporate tie up offer going on. 

View 6 more replies
Helpful Helpful
Link Copied

Amex referral is open

Helpful Helpful
Link Copied
On apply page I see kolkata in their list then other eligibility criteria I dont see kolkata. Cam I eligible or not?  Screenshot2022-11-23-09-49-02-510com.android.chromeScreenshot2022-11-23-09-50-13-038com.android.chrome

Deal Lieutenant Deal Lieutenant
Link Copied
Is the once a year 10% offer on amazon voucher goven by amex or on amazon? And whats the timeframe of that?
Coupon Connoisseur Coupon Connoisseur
Link Copied
Amex as it comes as cashback in 120 days,
didn't notice this offer coming this year instead there were some other targeted offers like 2000 Amazon voucher on 40000 , Random 10x , 15x on reward multiplier offers
replyuser
Click here to reply
Reply