Could you please explain me in detail whats its use?
- 1000 GV per month X 12 = 12K points
- 5000 GV per year X 1 = 5K points
Total= 17K on an effective joining fee of (5900-5000)= 900 INR. Renewal fee anyway will be Zero from next year upon spending 3L+ in previous year.
- Return Percentage for 1st year= (17K-900)/12L ~ 1.34%
- Return percentage next year onwards= 17K/12L ~ 1.41%
Best Value: If your spends aren’t that high, hitting 5L in a year is the sweet spot.
In 1st year You get 5K Monthly + 5K Annual benefit = (10K-900)/5L ~ 1.82%
And next year onwards you get (5K + 5K)/5L ~ 2%
If you spend more than 12L in a year, return value goes downwards. As you can see, this card holds good till annual spends of 12L max only (preferably 1L per month spend with minimum 10K in a month to earn cashbacks as GV)
GVs available: Wide range of GVs with multiple price points are available for redemption against both Welcome/ Monthly benefits. Notable ones are Amazon, Flipkart, Croma, Bigbasket etc.
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