AMEX MRCC to Wallet rotation [DETAILED POST]

[codenerd]

Hi TCFers,
This is a detailed post with calculations on the usage of AMEX MRCC to rotate money from wallet to bank.

Mobikwik Wallet:

• We need 3-4 Mobikwik accounts to maximize the benefit and minimize our wallet loading cost. Mobikwik allows 1 credit card to be linked to max 3 Mobikwik accounts. To make it further rewarding, you can opt for an add-on card and then use total 4 Mobikwik accounts by splitting 4 transactions on 4 accounts but via 1 card per 2 mobikwik accounts.
• We need multiple accounts because Mobikwik allows first Rs.1000 loaded via a credit card to wallet per Mobikwik account for free. No charge, no GST. Beyond 1000 rupee, it charges 29.5 per Rs 1000 loaded inclusive of GST.
• Below calculations are on that basis.

Transaction 1: 1500 (Cost = 14.75)
Transaction 2: 1500 (Cost = 14.75)
Transaction 3: 1500 (Cost = 14.75)
Transaction 4: 15500 (Cost = 457.25-50(via CENTURY code)=407.25)
Total: Rs.20000 (Cost = 14.75*3 + 407.25 =451.5)

Withdrawal:
Withdrawal from Mobikwik Wallet to savings account is free and no charges applicable

Amex MR:
Rs.1500*4 Bonus = 1000
Rs.20000 spend bonus= 1000
Total base rewards on 20k spent = 20000/50=400
Total MR Points = 1000+1000+400 = 2400
MR Points value (Considering worst case cash redemption @ 1MR=0.25p) = 2400/4= Rs.600

Mobikwik Xtra:
Now, to take it to next level and enjoy the interest free credit period (AMEX provides around 48 days period), we can invest the money we rotated via credit card to our savings account on Mobikwik Xtra which is a P2P which gives 12% PA.

Daily interest earning on 20K = (20000*0.12)/365 = 6.5
Amex interest free credit period = 30+18 days = 48 days
Approx earning for 44 days = 6.5*44=286 (removing 4 days for contingency for CC bill payment/investing/withdrawal)

Final Calculations:
Mobikwik credit card to wallet loading cost = Rs.401.5
Amex MR points value @0.25/MR = Rs.600
MB Xtra earning = Rs.286
Final estimated earning =600+286-401.5=Rs.485/month
Yearly eastimated earning = 485*12 = Rs. 5820

Earning the same interest via Bank Savings account interest rate:
Interest Amount earned above = 5820
Avg interest rate =4.5%
Principal Amount = 5820/0.045 = 1.29Lakhs

Avg interest rate =4.0%
Principal Amount = 5820/0.04 = 1.45Lakhs

If you feel that this calculation is off/some important factors not considered by me, please enlighten me and I will update the post accordingly.
By far i think this is the best way to utilize it without manufacturing unnecessary spends like Amazon GVs, etc.

One can question if all this is actually worth the hassle for a mere 500 rupee monthly? Well thats subjective and totally upto the cardholder!
There are people who undergo much more hassle for a mere less reward!

NOTE:
This is not for people who madly just go on a money rotation spree with no income and just for the sake of rewards. This whole strategy holds good if you have a financial standing to be able to prove so.
Also, when you can make money with a bit of extra effort, why leave that stone unturned as long it doesnt hurt you .

 

[HumorSimpson]

Joke's on you! too young to take a pill.
Like a wise man (Red forman) once said, " if a horse is in good shape, they say it's healthy as me".
And unlike him, my pant isn't on fire.

P.s.- is that Daniel day Lewis?

Joke is on you. I meant for Jhonny.

 

[ccdc]

itni magajmari for 6k per annum...kya yaar..itni chindi giri....

 

[vaibhavpp0707]

Hi TCFers,
This is a detailed post with calculations on the usage of AMEX MRCC to rotate money from wallet to bank.

Mobikwik Wallet:

• We need 3-4 Mobikwik accounts to maximize the benefit and minimize our wallet loading cost. Mobikwik allows 1 credit card to be linked to max 3 Mobikwik accounts. To make it further rewarding, you can opt for an add-on card and then use total 4 Mobikwik accounts by splitting 4 transactions on 4 accounts but via 1 card per 2 mobikwik accounts.
• We need multiple accounts because Mobikwik allows first Rs.1000 loaded via a credit card to wallet per Mobikwik account for free. No charge, no GST. Beyond 1000 rupee, it charges 29.5 per Rs 1000 loaded inclusive of GST.
• Below calculations are on that basis.

Transaction 1: 1500 (Cost = 14.75)
Transaction 2: 1500 (Cost = 14.75)
Transaction 3: 1500 (Cost = 14.75)
Transaction 4: 15500 (Cost = 457.25-100(via CENTURY code)=357.25)
Total: Rs.20000 (Cost = 14.75*3 + 357.25 =401.5)

Withdrawal:
Withdrawal from Mobikwik Wallet to savings account is free and no charges applicable

Amex MR:
Rs.1500*4 Bonus = 1000
Rs.20000 spend bonus= 1000
Total base rewards on 20k spent = 20000/50=400
Total MR Points = 1000+1000+400 = 2400
MR Points value (Considering worst case cash redemption @ 1MR=0.25p) = 2400/4= Rs.600

Mobikwik Xtra:
Now, to take it to next level and enjoy the interest free credit period (AMEX provides around 48 days period), we can invest the money we rotated via credit card to our savings account on Mobikwik Xtra which is a P2P which gives 12% PA.

Daily interest earning on 20K = (20000*0.12)/365 = 6.5
Amex interest free credit period = 30+18 days = 48 days
Approx earning for 44 days = 6.5*44=286 (removing 4 days for contingency for CC bill payment/investing/withdrawal)

Final Calculations:
Mobikwik credit card to wallet loading cost = Rs.401.5
Amex MR points value @0.25/MR = Rs.600
MB Xtra earning = Rs.286
Final estimated earning =600+286-401.5=Rs.485/month
Yearly eastimated earning = 485*12 = Rs. 5820

Earning the same interest via Bank Savings account interest rate:
Interest Amount earned above = 5820
Avg interest rate =4.5%
Principal Amount = 5820/0.045 = 1.29Lakhs

Avg interest rate =4.0%
Principal Amount = 5820/0.04 = 1.45Lakhs

If you feel that this calculation is off/some important factors not considered by me, please enlighten me and I will update the post accordingly.
By far i think this is the best way to utilize it without manufacturing unnecessary spends like Amazon GVs, etc.

One can question if all this is actually worth the hassle for a mere 500 rupee monthly? Well thats subjective and totally upto the cardholder!
There are people who undergo much more hassle for a mere less reward!

NOTE:
This is not for people who madly just go on a money rotation spree with no income and just for the sake of rewards. This whole strategy holds good if you have a financial standing to be able to prove so.
Also, when you can make money with a bit of extra effort, why leave that stone unturned as long it doesnt hurt you .

U forgot to mention rewards on card bill payment through platforms like hdfc bill pay or indusind debit cards. 1% of 20k = 200₹ additional benefit.

 

[ontherocks]

Also this whole rotation takes mere 15 mins of my time once a month. Already have 3 mobikwik accounts in the family.

If you do a monthly SIP for the same amount, it will take zero minutes of your time in a month and fetch you X times ROI

 

[codenerd]

If you do a monthly SIP for the same amount, it will take zero minutes of your time in a month and fetch you X times ROI

Umm, already doing that. Plus this post is above and beyond all the investments we do.

This strategy is not like a main course. It's just like peanuts on the sides.

 

[Riya]

Hi TCFers,
This is a detailed post with calculations on the usage of AMEX MRCC to rotate money from wallet to bank.

Mobikwik Wallet:

• We need 3-4 Mobikwik accounts to maximize the benefit and minimize our wallet loading cost. Mobikwik allows 1 credit card to be linked to max 3 Mobikwik accounts. To make it further rewarding, you can opt for an add-on card and then use total 4 Mobikwik accounts by splitting 4 transactions on 4 accounts but via 1 card per 2 mobikwik accounts.
• We need multiple accounts because Mobikwik allows first Rs.1000 loaded via a credit card to wallet per Mobikwik account for free. No charge, no GST. Beyond 1000 rupee, it charges 29.5 per Rs 1000 loaded inclusive of GST.
• Below calculations are on that basis.

Transaction 1: 1500 (Cost = 14.75)
Transaction 2: 1500 (Cost = 14.75)
Transaction 3: 1500 (Cost = 14.75)
Transaction 4: 15500 (Cost = 457.25-100(via CENTURY code)=357.25)
Total: Rs.20000 (Cost = 14.75*3 + 357.25 =401.5)

Withdrawal:
Withdrawal from Mobikwik Wallet to savings account is free and no charges applicable

Amex MR:
Rs.1500*4 Bonus = 1000
Rs.20000 spend bonus= 1000
Total base rewards on 20k spent = 20000/50=400
Total MR Points = 1000+1000+400 = 2400
MR Points value (Considering worst case cash redemption @ 1MR=0.25p) = 2400/4= Rs.600

Mobikwik Xtra:
Now, to take it to next level and enjoy the interest free credit period (AMEX provides around 48 days period), we can invest the money we rotated via credit card to our savings account on Mobikwik Xtra which is a P2P which gives 12% PA.

Daily interest earning on 20K = (20000*0.12)/365 = 6.5
Amex interest free credit period = 30+18 days = 48 days
Approx earning for 44 days = 6.5*44=286 (removing 4 days for contingency for CC bill payment/investing/withdrawal)

Final Calculations:
Mobikwik credit card to wallet loading cost = Rs.401.5
Amex MR points value @0.25/MR = Rs.600
MB Xtra earning = Rs.286
Final estimated earning =600+286-401.5=Rs.485/month
Yearly eastimated earning = 485*12 = Rs. 5820

Earning the same interest via Bank Savings account interest rate:
Interest Amount earned above = 5820
Avg interest rate =4.5%
Principal Amount = 5820/0.045 = 1.29Lakhs

Avg interest rate =4.0%
Principal Amount = 5820/0.04 = 1.45Lakhs

If you feel that this calculation is off/some important factors not considered by me, please enlighten me and I will update the post accordingly.
By far i think this is the best way to utilize it without manufacturing unnecessary spends like Amazon GVs, etc.

One can question if all this is actually worth the hassle for a mere 500 rupee monthly? Well thats subjective and totally upto the cardholder!
There are people who undergo much more hassle for a mere less reward!

NOTE:
This is not for people who madly just go on a money rotation spree with no income and just for the sake of rewards. This whole strategy holds good if you have a financial standing to be able to prove so.
Also, when you can make money with a bit of extra effort, why leave that stone unturned as long it doesn't hurt you .

I'll have to keep an assistance for all these one thousand five hundred transaction with an accounting software as well in order to avoid even one payment delay to wipe off my entire savings and CIBIL points accumulated through the years

 

[Buttman]

Mobiqwik extra shows error for me. Any way to activate it?

 

[opbamldg]

I do have something better which probably a lot of people know here but dont know to use. Its just pure loot, will keep using it until the parties concerned come to know about it.

 

[Buttman]

I do have something better which probably a lot of people know here but dont know to use. Its just pure loot, will keep using it until the parties concerned come to know about it.

Could you DM?

 

[opbamldg]

Could you DM?

I dont want to leak it yet.

 

[Buttman]

I dont want to leak it yet.

Check my post history mate. I ain’t a leaker. Rest is your wish

 

[Infamous]

I do have something better which probably a lot of people know here but dont know to use. Its just pure loot, will keep using it until the parties concerned come to know about it.

I'd like to know it too, if you allow

 

[sousnake]

I do have something better which probably a lot of people know here but dont know to use. Its just pure loot, will keep using it until the parties concerned come to know about it.

I think I know what you are talking about . No charges right?

 

[dhiraz]

I have 6 Airtel Axis Card and i am only spending 21,000 and get 3k Every months

 

[Krishna Kumar]

I think I know what you are talking about . No charges right?

Any clues ?

 

[opbamldg]

I think I know what you are talking about . No charges right?

Are you talking about +?

 

[kushhh]

I do have something better which probably a lot of people know here but dont know to use. Its just pure loot, will keep using it until the parties concerned come to know about it.

Dm kar do Bhai , kisi ko nahi bataunga

 

[Wealth is my birth right!]

I do have something better which probably a lot of people know here but dont know to use. Its just pure loot, will keep using it until the parties concerned come to know about it.

Hi its great
It sounds like you have found a valuable resource or opportunity that others might not be fully utilizing yet. However, it’s important to consider the ethical implications of using such opportunities. Ensuring that the use of this resource is fair, legal, and not exploitative can help avoid potential issues down the line. If you’d like to share more about it, I can provide guidance on how to use it responsibly.

 

[kushhh]

Hi its great
It sounds like you have found a valuable resource or opportunity that others might not be fully utilizing yet. However, it’s important to consider the ethical implications of using such opportunities. Ensuring that the use of this resource is fair, legal, and not exploitative can help avoid potential issues down the line. If you’d like to share more about it, I can provide guidance on how to use it responsibly.

/s

 

[sousnake]

Are you talking about +?

no sir.. not park +