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Buying GOLD/Jewellery from Credit Card

codenerd

TF Ace
Hi all,
Some of you may not have an idea about buying gold/jewellery via credit cards. I myself didnt have much idea until I purchased myself.

So recently I purchased jewellery from a big retail jeweller and swiped my cards at their POS machine. Following are the cards I used:
AMEX Smart Earn CC - Got 1 MR point/50rs without capping
AMEX Gold Charge Card - Got 1 MR point/50rs without capping
Indusind Visa Signature Debit Card - Got 125 points on spending 10K
Amazon ICICI Apay CC - Straight 1% cashback to amazon pay wallet

The point of this post is that there are many cards which dont give any reward points on buying gold/silver or any jewellery or atleast they mention that way in their T&C. I used the above cards at their physical store (not online purchase) and got all the due rewards without any issue.

Bonus Tip: Then added the above equivalent amount to Mobikwik Xtra and earned 12% p. a until my bill payment date. That way I kind of earned more money/value out of this transaction/strategy.

Another Bonus Tip: Paid all credit card dues a week before the due date (enjoyed 12%interest p.a until then without any issue!!!) via CRED via DEBIT CARD.
Since I used IndusInd Visa Signature Debit Card (Indus Partner Account. Neither Select, nor Exclusive), I got 3K points which is equivalent to around 1050rs cash redemption.
Basically if you pay your CC bill using Cred by your IndusInd Visa Signature Debit Card, you kind of get 1050rs per 1 lakh bill payment roughly per month per card.
 
I am not saying tata cliq is less.. My point is the prices are already elevated.. so 10% discount on elevated price don't make sense.
On returning it offline, 3% will be deducted as well
 
I am not saying tata cliq is less.. My point is the prices are already elevated.. so 10% discount on elevated price don't make sense
Ok got it. If you calculate it after 10% discount it will be as per current market price. And people(like me) are mainly doing it for points and milestone benefit.
Buying gold online will always be in loss(except SGB) so one has to balance loss with points and see if it fits their requirement. I buy when there are any offer and 2gm every month through Myntra(for points) as SIP on gold investment.
 
Found this on Flipkart 10% off upto 1500 using BoB Credit Cards so can buy 2g of Gold if anyone is interested


You get for 11,480
This is even better -

You get the maximum discount of 1500
 
This is even better -

You get the maximum discount of 1500
I dont like it much because it is 999 not 999.9
 
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