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 .

 

[codenerd]

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.

Whats the point of mentioning it here and not willing to disclose? May not have mentioned it altogether if not willing to disclose even in DM.

 

[Buttman]

Whats the point of mentioning it here and not willing to disclose? May not have mentioned it altogether if not willing to disclose even in DM.

Trying to run it in our faces maybe :”)

 

[opbamldg]

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.

It's not very ethical, it's actually a lot and Amex may come down anytime they find it.

 

[codenerd]

It's not very ethical, it's actually a lot and Amex may come down anytime they find it.

If you are aware of this, would you be kind enough to enlighten me about this trick over DM? Just curious to know what it is.

 

[shubhank008]

Kept spending over 20k on MRCC for last 2 months and didn't get any MR points, today learnt that benefit needs to be enrolled for manually. FML

 

[Infamous]

Kept spending over 20k on MRCC for last 2 months and didn't get any MR points, today learnt that benefit needs to be enrolled for manually. FML

a rookie mistake

 

[phoenix1386]

In the noise of RuPay, I can understand American's pains of Amex. But focus this math towards investments like MFs, Sharemarket.

Spoken wisely, Humor.

 

[phoenix1386]

Kept spending over 20k on MRCC for last 2 months and didn't get any MR points, today learnt that benefit needs to be enrolled for manually. FML

Welcome to Amex. Have we been able to make you feel special yet?

 

[shubhank008]

how long does extra 1k points take for mrcc (for the 20k spend per month) ? Been 1 week now I think, got initial 1k points but not the extra (and yes, this time I did register beforehand)

 

[Infamous]

It's not very ethical, it's actually a lot and Amex may come down anytime they find it.

If you could let me know about this over DM it would be great, we have a gentleman's agreement that this won't go out

 

[drsel]

how long does extra 1k points take for mrcc (for the 20k spend per month) ? Been 1 week now I think, got initial 1k points but not the extra (and yes, this time I did register beforehand)

If you bought 20k Amazon pay in 4 transactions using MRCC on Amex Gyftr 2x, you will get Rs 2800 points
4.62% return if converted to Amazon pay @33p
5.6% return if converted to Marriott 1:1 @40p
7% return if converted to Virgin Atlantic 2:1 @50p

If you bought 1000 x 6 Amazon pay using Gold charge on Amex Gyftr 5x, you will get Rs 1600 points
8.88% return if converted to Amazon pay @33p
10.67% return if converted to Marriott 1:1 @40p
13.33% return if converted to Virgin Atlantic 2:1 @50p

All the above calculations assume ZERO joining fees.
But the biggest earning is 12000 referral points now (normally 8000)

 

[SSV]

how long does extra 1k points take for mrcc (for the 20k spend per month) ? Been 1 week now I think, got initial 1k points but not the extra (and yes, this time I did register beforehand)

1K points on 20K spending will be credited immediately after milestone was met..

 

[SSV]

But the biggest earning is 12000 referral points

this is only applicable for the temporary offer period which ends on 31st July.
it is 8K during normal period..

 

[drsel]

this is only applicable for the temporary offer period which ends on 31st July.
it is 8K during normal period..

Normally it's
8000 points for the referring member
2000 + 4000 points for the new member

 

[SSV]

Normally it's
8000 points for the referring old member
2000 + 4000 points for the new member

what do you mean old member / new member??

 

[sravanbrahma]

This post although criticized by many, can be used to fill in the gaps of your regular spends on amex to come towards 20k milestone/ do that last 1500trxn as it's close to end of month etc.

 

[350modena]

It's not very ethical, it's actually a lot and Amex may come down anytime they find it.

Im curious to know what it could be. If comfortable please share in DM, rest assured, it would

what do you mean old member / new member??

I think old member - referror and new member - referee

 

[Sriim]

Mobikwik charges for wallet loading with CC (including Amex) increased to 3.25%. l loaded with 2.95% charges last month

 

[ujjwal2024]

Let us calculate the scenarios
I checked with mobiquik, it is charging around 3% for wallet loading and giving rs 50 for rs. 15000 load
So, Let us assume that we will load money in tranche of rs. 15000. Total load is Rs. 4 Lacs
Hence, Number of loading required = 26.67. we will get cashback for 26 loads
Hence. for Loading 4L, charges from wallet = Rs. 12000
cashback = 26*50 =Rs. 1300
Now first yearly fee of Rs. 3500+gst = Rs. 4130
Hence, Net Cost in first year = 12000-1300+4130 = Rs.14830
Now yearly fee of Rs. 5000+gst = Rs. 5900
Net Cost from second year onwards = 12000-1300+5900 = Rs.16600
I think currently Amex dues can not be paid by HDFC debit card, hence I am not taking 1% cashback from DC
What I will get, 58000 points + 10000 Taj (for first year)
What I will get, 48000 points + 10000 Taj (from second year onwards)
Now for first year this translates to 1) Cash = Rs. 14500 + 10000 Taj
2) Amazon = Rs. 19000 + 10000 Taj
3) Taj voucher = Rs. 33000+ Rs. 10000 = Rs. 43000 Taj voucher
4) Marriot points = 58000 points ( cash equivalent of these points is complex) + 10000 Taj
Now from second year onwards this translates to 1) Cash = Rs. 12000 + 10000 Taj
2) Amazon = Rs. 16000 + 10000 Taj
3) Taj voucher = Rs. 28000+ Rs. 10000 = Rs. 38000 Taj voucher
4) Marriot points = 48000 points ( cash equivalent of these points is complex) + 10000 Taj

So, it can be seen, If the yearly fees is not waived off, this is absolutely loss making from second year onwards.

First year, in cash terms we will just break even.
Now, Again, I contacted Taj, and they informed me that with Taj vouchers I will be able to book only standard rate mean only room ...now, if you take meals, it will be absolutely uneconomical.
In marriot also you will get lower tier and no meal option only room

 

[sousnake]

Let us calculate the scenarios
I checked with mobiquik, it is charging around 3% for wallet loading and giving rs 50 for rs. 15000 load
So, Let us assume that we will load money in tranche of rs. 15000. Total load is Rs. 4 Lacs
Hence, Number of loading required = 26.67. we will get cashback for 26 loads
Hence. for Loading 4L, charges from wallet = Rs. 12000
cashback = 26*50 =Rs. 1300
Now first yearly fee of Rs. 3500+gst = Rs. 4130
Hence, Net Cost in first year = 12000-1300+4130 = Rs.14830
Now yearly fee of Rs. 5000+gst = Rs. 5900
Net Cost from second year onwards = 12000-1300+5900 = Rs.16600
I think currently Amex dues can not be paid by HDFC debit card, hence I am not taking 1% cashback from DC
What I will get, 58000 points + 10000 Taj (for first year)
What I will get, 48000 points + 10000 Taj (from second year onwards)
Now for first year this translates to 1) Cash = Rs. 14500 + 10000 Taj
2) Amazon = Rs. 19000 + 10000 Taj
3) Taj voucher = Rs. 33000+ Rs. 10000 = Rs. 43000 Taj voucher
4) Marriot points = 58000 points ( cash equivalent of these points is complex) + 10000 Taj
Now from second year onwards this translates to 1) Cash = Rs. 12000 + 10000 Taj
2) Amazon = Rs. 16000 + 10000 Taj
3) Taj voucher = Rs. 28000+ Rs. 10000 = Rs. 38000 Taj voucher
4) Marriot points = 48000 points ( cash equivalent of these points is complex) + 10000 Taj

So, it can be seen, If the yearly fees is not waived off, this is absolutely loss making from second year onwards.

First year, in cash terms we will just break even.
Now, Again, I contacted Taj, and they informed me that with Taj vouchers I will be able to book only standard rate mean only room (no meals is added i.e. no package)...now, if you take meals, it will be absolutely uneconomical.
In marriot also you will get lower tier and no meal option only room

Cool, but
1. Get a dc which gives 1% cb on cc bill.
2. Get 2-3 mobikwik account for more cb on adding money.
3. Plat travel is first year free
Still returns are bad but it can be used if you are little shy of completing milestone.
Getting it for 4L wallet loading doesn't look that attractive.