Best way to achieve monthly 1000 bonus MR points on AMEX MRCC

[srichaitanya]

Can anyone tell me the best way to achieve monthly 1000 bonus MR points by doing 4 transactions of Rs. 1500 on AMEX MRCC

Any suggestions to add money to paytm wallet/ amazon pay / buy gift vouchers?

 

[yashvijay]

Paytm zomato tick doesnt work now for Amex as they have started levying wallet loading fees!
Mobikwik I personally havent paid charges to load to wallet till 10K per month.. But while withdrawing to bank they charge 40rs/1000rs and if you want to use wallet balance for credit card bill payment then they charge around 30rs/1000rs.

Then where else can you use mobikwik wallet balance? Haven't used mobikwik altogether since a very long time.

 

[mojo_jojo123]

Paytm zomato tick doesnt work now for Amex as they have started levying wallet loading fees!
Mobikwik I personally havent paid charges to load to wallet till 10K per month.. But while withdrawing to bank they charge 40rs/1000rs and if you want to use wallet balance for credit card bill payment then they charge around 30rs/1000rs.

is it worth doing like this ? for 1000 amex points we end up paying 180 rupees to mobikwik

 

[codenerd]

is it worth doing like this ? for 1000 amex points we end up paying 180 rupees to mobikwik

Yes but if you have a gold charge card then you can do 6 transactions of 1000 each which will fetch you 1000 MR points + 120 Points = 1120 points whose worst case cash redemption equivalent is 1120/4 (0.25/MR) = 280.

In short,
280rs - 180rs = 100 rs still in your pocket by just money rotation! Also here we are considering the worst case redemption scenario. What if you can get value of 0.5/1rupee value per MR point depending on how you redeem your MR points!
I mean agreed its too much jhamela for just 100rs cash redemption equivalent value or maybe Marriott Bonvoy 1:1 transfer but it depends from person to person. I personally have no issues with this strategy..

If I have made any wrong calculations here, please correct me!

 

[mojo_jojo123]

Yes but if you have a gold charge card then you can do 6 transactions of 1000 each which will fetch you 1000 MR points + 120 Points = 1120 points whose worst case cash redemption equivalent is 1120/4 (0.25/MR) = 280.

In short,
280rs - 180rs = 100 rs still in your pocket by just money rotation! Also here we are considering the worst case redemption scenario. What if you can get value of 0.5/1rupee value per MR point depending on how you redeem your MR points!
I mean agreed its too much jhamela for just 1000rs cash redemption equivalent value or maybe Marriott Bonvoy 1:1 transfer but it depends from person to person. I personally have no issues with this strategy..

If I have made any wrong calculations here, please correct me!

any other cheaper alternative ?

 

[codenerd]

any other cheaper alternative ?

As per me, NO! IF anyone has, pls do share!

 

[Irrelevant]

nps no longer supports cc payments

I paid yesterday use billdesk option.

 

[Irrelevant]

buy Amazon pay voucher of rs. 1500 4 times on Gyftr you will get double rewards and bonus as well. Load the wallet use it to pay utilites, train tickets etc on Amazon. I use to pay broadband bill, lpg, power bill. Unutilized money is getting saved to pay Insurance and health insurance premium when due.

 

[arjun697]

buy Amazon pay voucher of rs. 1500 4 times on Gyftr you will get double rewards and bonus as well. Load the wallet use it to pay utilites, train tickets etc on Amazon. I use to pay broadband bill, lpg, power bill. Unutilized money is getting saved to pay Insurance and health insurance premium when due.

The Amazon Pay voucher gets added to the Amazon Pay Gift section right? That can be use for anything within Amazon itself. Is there any way to add to the Amazon Pay wallet section, at least this would have helped for UPI payments in places where Amex wouldn't work at all.

 

[Irrelevant]

The Amazon Pay voucher gets added to the Amazon Pay Gift section right? That can be use for anything within Amazon itself. Is there any way to add to the Amazon Pay wallet section, at least this would have helped for UPI payments in places where Amex wouldn't work at all.

not necessarily within amazon. I have used amazon pay balance in bigbasket, Zepto, Jio broadband bill etc.. Amazon pay balance can be used in IRCTC also.

 

[arjun697]

not necessarily within amazon. I have used amazon pay balance in bigbasket, Zepto, Jio broadband bill etc.. Amazon pay balance can be used in IRCTC also.

Ah alright. All places which I already pay with Amex anyway. Guess with the GV, I can avail the reward multiplier benefit additionally. Thank, will do that!
I have about 1.4L to spend before Nov 27th to meet the 4L threshold. Close finish on the cards.

 

[NikTravelEnthusiast]

The Amazon Pay voucher gets added to the Amazon Pay Gift section right? That can be use for anything within Amazon itself. Is there any way to add to the Amazon Pay wallet section, at least this would have helped for UPI payments in places where Amex wouldn't work at all.

Amazon pay has two section
1. Wallet
2. Gift card.

1. Wallet section.
A.This can be used for UPI payments
B.You can add money only by Debit card, Other UPI,Net banking.
C. Wallet loading doesn't support any credit cards as of now.
So You can't use your Amex cards for any UPI payments.

2. Gift card section
A. Gyftr Amazon pay vouchers will get addded here.
B. Can be used for utility's payments,insurance,shopping on Amazon etc
C. It cannot be used for UPI,balance transfers.

 

[arjun697]

Amazon pay has two section
1. Wallet
2. Gift card.

1. Wallet section.
A.This can be used for UPI payments
B.You can add money only by Debit card, Other UPI,Net banking.
C. Wallet loading doesn't support any credit cards as of now.
So You can't use your Amex cards for any UPI payments.

2. Gift card section
A. Gyftr Amazon pay vouchers will get addded here.
B. Can be used for utility's payments,insurance,shopping on Amazon etc
C. It cannot be used for UPI,balance transfers.

Thank you for confirming, Nikhil. Yes, that's the sad part. Will just have to stick to gift vouchers for the time being.

 

[yashvijay]

buy Amazon pay voucher of rs. 1500 4 times on Gyftr you will get double rewards and bonus as well. Load the wallet use it to pay utilites, train tickets etc on Amazon. I use to pay broadband bill, lpg, power bill. Unutilized money is getting saved to pay Insurance and health insurance premium when due.

Does gyfter via Amex charge surcharge on buying Apay vouchers? HDFC has imposed charges on buying Apay vouchers via smartbuy gyfter.

 

[NikTravelEnthusiast]

Does gyfter via Amex charge surcharge on buying Apay vouchers? HDFC has imposed charges on buying Apay vouchers via smartbuy gyfter.

No additional charges in Amex gyftr for any voucher till now.

 

[yashvijay]

Can I transfer the points in gold card & mrcc to hotel/air miles partner or do I only have 18k/24k collection option?

 

[Irrelevant]

Can I transfer the points in gold card & mrcc to hotel/air miles partner or do I only have 18k/24k collection option?

I think You can transfer to Marriott and Miles as well.

 

[Pram]

buy Amazon pay voucher of rs. 1500 4 times on Gyftr you will get double rewards and bonus as well. Load the wallet use it to pay utilites, train tickets etc on Amazon. I use to pay broadband bill, lpg, power bill. Unutilized money is getting saved to pay Insurance and health insurance premium when due.

Is it still possible to pay insurance premium using APay balance? Insurance premium payment using CC was disabled for me.

 

[mojo_jojo123]

Is it still possible to pay insurance premium using APay balance? Insurance premium payment using CC was disabled for me.

I think so ..others can comment

 

[NikTravelEnthusiast]

Is it still possible to pay insurance premium using APay balance? Insurance premium payment using CC was disabled for me.

Yes.

 

[amitamit is verified member.]

Can I transfer the points in gold card & mrcc to hotel/air miles partner or do I only have 18k/24k collection option?

yes, MR can be used for travel/hotel as well as vouchers.