Buying Gold for 10L

[Imadumbass]

Hey folks, for some wedding expense in the family, I’ll be buying gold for approximately 10L to 15L around August of this year.

I had a Citi IOC card (limit 6L something) HDFC regalia (6L) both of which are being closed right now.

With the help of members here, I got myself an Amex trifecta (plat travel 8L, MRCC 5L, gold charge), also the reason I’m closing my regalia is because I got an approval for dcb metal (no clue what the limit would be) and I need to close my existing card before getting the new one.

Thank you for reading so far. Now onto the issue, I saw a post here from a few days ago about Amex not allowing Gold/Jewellery purchases for the first 6 months. I got my cards this month, so 6 months would mean November. Is there any workaround, like has anyone had an experience where they were able to get this restriction removed after talking to Amex cc.

If that doesn’t work, how’s DCB acceptability with jewelleries (Joy Alukkas, Malabar Gold etc ) and does anyone know if they too have any such restriction on gold purchase ?

Looking for any insight, plan was to use the travel for a few lakhs and then use dcb (paving a way for infinia at some point).

 

[dungeonMaster]

Buy amazon vouchers from smartbuy, then buy respective jewellers voucher from amazon. You'll get discount from amazon and points from smartbuy.

Not sure but maybe they accept amazon shopping vouchers for these vouchers i think.

 

[Deleted member 11974]

buy from tanish via tata nue using dcb
or keep buying small denomiation gold vouchers from smartbuy daily

 

[Imadumbass]

Buy amazon vouchers from smartbuy, then buy respective jewellers voucher from amazon. You'll get discount from amazon and points from smartbuy.

Not sure but maybe they accept amazon shopping vouchers for these vouchers i think.

buy from tanish via tata nue using dcb
or keep buying small denomiation gold vouchers from smartbuy daily

Thank you for the responses. I saw on this forum about a 10k limit for gold vouchers, wouldn’t that be an issue ?

 

[Zacobite]

Hey folks, for some wedding expense in the family, I’ll be buying gold for approximately 10L to 15L around August of this year.

I had a Citi IOC card (limit 6L something) HDFC regalia (6L) both of which are being closed right now.

With the help of members here, I got myself an Amex trifecta (plat travel 8L, MRCC 5L, gold charge), also the reason I’m closing my regalia is because I got an approval for dcb metal (no clue what the limit would be) and I need to close my existing card before getting the new one.

Thank you for reading so far. Now onto the issue, I saw a post here from a few days ago about Amex not allowing Gold/Jewellery purchases for the first 6 months. I got my cards this month, so 6 months would mean November. Is there any workaround, like has anyone had an experience where they were able to get this restriction removed after talking to Amex cc.

If that doesn’t work, how’s DCB acceptability with jewelleries (Joy Alukkas, Malabar Gold etc ) and does anyone know if they too have any such restriction on gold purchase ?

Looking for any insight, plan was to use the travel for a few lakhs and then use dcb (paving a way for infinia at some point).

Amex has reliance jewels on multiplier / dcb jewellery purchase has no limits ( some fair usage at card level overall ) / amazon vouchers for jewellery via smart buy / Jewelry vouchers on multiplier and smart buy for other brands also available.. combo will help..

 

[V360V360 is verified member.]

Amex has reliance jewels on multiplier / dcb jewellery purchase has no limits ( some fair usage at card level overall ) / amazon vouchers for jewellery via smart buy / Jewelry vouchers on multiplier and smart buy for other brands also available.. combo will help..

Which Brand vouchers are available on Smartbuy related to gold purchase?

 

[Deleted member 11974]

Thank you for the responses. I saw on this forum about a 10k limit for gold vouchers, wouldn’t that be an issue ?

keep buying over months
and with amex and dcb both

 

[Imadumbass]

Amex has reliance jewels on multiplier / dcb jewellery purchase has no limits ( some fair usage at card level overall ) / amazon vouchers for jewellery via smart buy / Jewelry vouchers on multiplier and smart buy for other brands also available.. combo will help..

keep buying over months
and with amex and dcb both

Thank you both ! I’ll cross check if Amex has the 6 month limit on reliance n stuff as well. I may just end up going for gold coins at this point. I’m not a fan of buying gold ornaments per se. DCB should come in 10 days, my regalia was closed as of Saturday and I applied for dcb from the local branch today. It will be truly hilarious if HDFC rejects me now because I’d have lost a ltf regalia and no dcb.

 

[nikhilk21]

@Imadumbass How did you go about purchasing your gold? I too want to buy gold coins with Amex and it has only been 3 months since I've opened account. Any particularly voucher you opted?

 

[herefordeals]

Whether buying from tanishq via HDFC Neu Infinity gives 5 % neu coins?

 

[tachniki]

Whether buying from tanishq via HDFC Neu Infinity gives 5 % neu coins?

It does. But only for jewellery. Not coins.

 

[herefordeals]

It does. But only for jewellery. Not coins.

Oh. And what about their gold purchase plan, do we get 5% for plan payment also? And can we buy coin once plan mature?

 

[tachniki]

Oh. And what about their gold purchase plan, do we get 5% for plan payment also? And can we buy coin once plan mature?

As far I have seen, gold purchase plans only allows jewellery purchase. But I have seen so less. So, i might be wrong.

No idea about paying for purchase plan with Neu Infinity card.

 

[imdjay]

It does. But only for jewellery. Not coins.

In store, I think it will work for coins too. Few months ago, I purchased around 5L jewelry and recieved 25k cb. For coins too, they will use the same POS, so will receive the same cb.

 

[HumorSimpson]

In store, I think it will work for coins too. Few months ago, I purchased around 5L jewelry and recieved 25k cb. For coins too, they will use the same POS, so will receive the same cb.

Tata tanishq. ?

 

[imdjay]

Tata tanishq. ?

YES.
ji Haan.

 

[tachniki]

Looks like we can buy gold coins with 5% discount. And not just at Tanishq but some other stores too. https://www.tatadigital.com/v2/finance/creditcard/pdp/cvp-jewellery

 

[HumorSimpson]

Looks like we can. And not just at Tanishq but some other stores too. https://www.tatadigital.com/v2/finance/creditcard/pdp/cvp-jewelleryView attachment 68915

Yes. In Tata ecosystem