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Buy GOLD below market rate - 10% Discount on Gold Coins at AJIO on ICICI Credit Cards

Is it worth to get AU LIT card just for this. I know it's LTF, but we have to buy the extra quarterly add-ons.
If you are lucky they keep on adding wallet balance which can be used to buy add-on with only 50-100 from your pocket. You can fetch 500 for 3 months just by paying 50-100 so it's not a waste.
Recently I added 3 add-on in AU LIT and got benefits of around 1300 in 3 months as I missed 1 month milestone of 7500 mistakenly.
Very good and underrated card.
Go for it 😜 😺
 
I have ICICI cards/SBI CB/few other bank cards , but not AU LIT.
Do you think I should try to get LIT card?
I will mainly use it for this one purpose.
If such offers are few and far between, then it wont make sense to get LIT card.
The current offer is on from July, August & September on even Friday. It may or may not get extended.

You can also get add-on cards and use them with different AJIO accounts.

OFFER TERM/ PERIOD:

Unless terminated earlier as provided under the Agreement, this Offer shall commence every Friday starting from 19th July 2024 at [00:00:00 Hrs.] (“Offer Start Date”) and continue until 27th September 2024 at [23:59:00 Hrs.] (“Offer End Date”) for Credit Cards or such other date and/or time as may be determined by AJIO at its sole discretion. The period starting from Offer Start Date until Offer end Date shall be referred to as Offer Term/ Period.
 
Is it worth to get AU LIT card just for this. I know it's LTF, but we have to buy the extra quarterly add-ons.
Not just for gold coins. You can avail grocery discount of 5% upto 1000/- every month plus 10X RPs on online/offline spends. The beauty of this card is you get all the offers combined together when they fall in that category.
 
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If I buy 1gm 22k gold coin today for 6.5k after all offers, how much the shops will give when I sell this one coin to them tomorrow? (Considering market gold price is same on both days)
 
One add-on questions -

1. Selling Bangalore refinery gold coins at Tanishq, Senco, Malabar gold or any other regional jwellery chain like PNG etc will give same price?

2. They might refuse to take those coins as they are also selling their own gold coins as well.

3. Do they check the purity before buying gold coin for cash or replacement with their own jwellery. I once visited a jweller to exchange a diamond ring and he told me that there would be 1500 additional charges to check the quality of diamond and gold.

Pls reply.
Thanks 👍 🙏
1. Not sure about brands, but normal local jewellery shops have made common higher authority like. Sangathan so they buy/sell at same price

2. Buy price and sell price of 24k gold is different just like 22k gold

3. No idea there might be difference between 999 and 999.9 but won't be much
 
No, I am trying to understand how much I will lose from that day's gold price when I buy jewel in exchange of these coins. Today and tomorrow are for example sake
No body sells so quickly.
Everyone has a minimum waiting period. Some wait till years while some sell when they need jwellery or cash.
It all depends on your timing and market value of gold.
P.S. - gold prices are rising consistency for the last 6-7 years so everyone was in profit only.
 
No body sells so quickly.
Everyone has a minimum waiting period. Some wait till years while some sell when they need jwellery or cash.
It all depends on your timing and market value of gold.
P.S. - gold prices are rising consistency for the last 6-7 years so everyone was in profit only.
Let me put this way:

I buy 1 gram coin online today for ₹7000
3 years later say 1 gram price is ₹11000

When I sell the 1 gram coin at the 3 years time, will the shop take it for full ₹11000 or will they impose additional charges?
 
Let me put this way:

I buy 1 gram coin online today for ₹7000
3 years later say 1 gram price is ₹11000

When I sell the 1 gram coin at the 3 years time, will the shop take it for full ₹11000 or will they impose additional charges?
On any given day there will be a small spread between the buy and sell price. If they sell for 11k, they may buy for 10.9k or so.
If you exchange the coin for jewellery they may reduce 11k from the price of the jewellery you buy.
 
Let me put this way:

I buy 1 gram coin online today for ₹7000
3 years later say 1 gram price is ₹11000

When I sell the 1 gram coin at the 3 years time, will the shop take it for full ₹11000 or will they impose additional charges?
This is what Malabar employee told me .
1% less price if you sell coin for cash.
Full price if you exchange coin for their jwellery.
 
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