Credit card for Gold Jewellery purchases on different outlets.

[Raghav2006]

Hello everyone,
As the gold price has fallen this week, my family is thinking of buying some gold jewelry from either Tanishq or PCJ. The total purchases might go north of 2lacs.
I already know about Tata Neu card and have that and wanted to know if any other good credit card is there to get for this purchase (not Amex), direct cashback or amazon/flipkart/tanishq/pcj GV is preferred, which I can acquire in tier 2/3 as well.
The credit might be used to buy gold from Local gold merchants in NCR region as well.
Also, if it's in anyone's knowledge, which one out of PCJ and Tanishq charges less making on gold jewelry, and are negotiations done?
Please do let me know, thanks.

 

[Deepak_Shetty]

@bhavyegoel @chasni @BVC @Shin-Chan
Please help.

I think Millennia credit card doesn't exclude jewellery transactions for 1% cash back.
Amazon pay ICICI card may give 1% cash back.
Consider buying GV option if available.

 

[drsel]

When you buy, there is 3% GST + 2% charge for using credit card + making charges + jewellers profit margin.

When you sell there is melting charges and jewellers profit margin

 

[Anindya98]

Hello everyone,
As the gold price has fallen this week, my family is thinking of buying some gold jewelry from either Tanishq or PCJ. The total purchases might go north of 2lacs.
I already know about Tata Neu card and have that and wanted to know if any other good credit card is there to get for this purchase (not Amex), direct cashback is preferred, which I can acquire in tier 2/3 as well.
The credit might be used to buy gold from Local gold merchants in NCR region as well.
Also, if it's in anyone's knowledge, which one out of PCJ and Tanishq charges less making on gold jewelry, and are negotiations done?
Please do let me know, thanks.

PCJ Gold Jewellery GV 2.75% instant discount + 5%CB
PCJ Diamond GV 5.75% instant + 5% CB
Tanishq GV 2.1% instant + 5% CB
Amazon Pay ICICI for 1%
Otherwise use milestone-based cards

 

[Raghav2006]

When you buy, there is 3% GST + 2% charge for using credit card + making charges + jewellers profit margin.

When you sell there is melting charges and jewellers profit margin

Not buying it as an investment, that's why I am leaning towards these big stores.
It is for a wedding.

 

[Raghav2006]

PCJ Gold Jewellery GV 2.75% instant discount + 5%CB
PCJ Diamond GV 5.75% instant + 5% CB
Tanishq GV 2.1% instant + 5% CB
Amazon Pay ICICI for 1%
Otherwise use milestone-based cards

That's great, where to buy these GV and are they instantly available and of any denomination we want, or specified?
Already have APay. Which credit card to use for 5%?

 

[Raghav2006]

PCJ Gold Jewellery GV 2.75% instant discount + 5%CB
PCJ Diamond GV 5.75% instant + 5% CB
Tanishq GV 2.1% instant + 5% CB
Amazon Pay ICICI for 1%
Otherwise use milestone-based cards

And can you please also recommend some milestone CC for the given case.

 

[drsel]

PCJ Gold Jewellery GV 2.75% instant discount + 5%CB
PCJ Diamond GV 5.75% instant + 5% CB
Tanishq GV 2.1% instant + 5% CB
Amazon Pay ICICI for 1%
Otherwise use milestone-based cards

If you buy gold jewellery you lose out on 3% GST + 2% credit card fees + 10% making charges.

If you buy diamonds you will lose 40 to 60% on resale

 

[Raghav2006]

If you buy gold jewellery you lose out on 3% GST + 2% credit card fees + 10% making charges.

If you buy diamonds you will lose 40 to 60% on resale

Sir, as I said it is for a wedding.
And credit card fees is not charged.
And I am not going to resale it.

 

[Anindya98]

That's great, where to buy these GV and are they instantly available and of any denomination we want, or specified?

Amazon, Park + , Junio, SBI Cards GYFtr
Yes, instantly available. Specified Amount.

Already have APay. Which credit card to use for 5%?

SBI CB in Park + and Amazon( Only for merchant name "Amazon India Pvt Ltd"

And can you please also recommend some milestone CC for the given case.

IDFC Vistara, Amex Platinum Travel
@SSV Help

 

[Anindya98]

If you buy gold jewellery you lose out on 3% GST + 2% credit card fees + 10% making charges.

If you buy diamonds you will lose 40 to 60% on resale

I don't recommend using CC
Also, I heard AU Lit gives rewards for Jewellery purchases not sure about this one.

 

[drsel]

Sir, as I said it is for a wedding.
And credit card fees is not charged.
And I am not going to resale it.

You can buy at places where you get Gold at 10% discount to the price in India

 

[Anindya98]

And credit card fees is not charged.

Explain pls .

 

[SSV]

If you buy gold jewellery you lose out on 3% GST + 2% credit card fees + 10% making charges.

If you buy diamonds you will lose 40 to 60% on resale

Why are you keep saying selling..selling selling.
Read OPs comments about the purpose..
Not everyone do everything for trading or short term profit..

 

[drsel]

Why are you keep saying selling..selling selling.
Read OPs comments about the purpose..
Not everyone do everything for trading or short term profit..

Then you should buy at the fair international price, not at 10% premium

 

[Raghav2006]

Amazon, Park + , Junio, SBI Cards GYFtr
Yes, instantly available. Specified Amount.

SBI CB in Park + and Amazon( Only for merchant name "Amazon India Pvt Ltd"

IDFC Vistara, Amex Platinum Travel
@SSV Help

Sir, just checked Amazon providing only 1% off on Tanishq Gold.
And park plus providing 2% off on both Tanishq and PCJ but denomination is only Rs.5000 which is too less.
Is SBI CB easy to get? And is the provided Limit good in most cases?

 

[SSV]

Then you should buy at the fair international price, not at 10% premium

It's upto the buyers wish..
Just answer his questions if you have anything to offer.
Instead of answering his questions, you are writing whatever you know which may or may not useful for him .
Most importantly it's not relevant to his questions

Thanks

 

[Raghav2006]

Explain pls .

The spammer says that the store will charge me 2% of the transaction upon using CC as some automobile dealers do.
Doesn't happen in branded stores.

 

[Raghav2006]

It's upto the buyers wish..
Just answer his questions if you have anything to offer.
Instead of answering his questions, you are writing whatever you know which may or may not useful for him .
Most importantly it's not relevant to his questions

Thanks

Please help sir.

 

[Anindya98]

Sir, just checked Amazon providing only 1% off on Tanishq Gold.
And park plus providing 2% off on both Tanishq and PCJ but denomination is only Rs.5000 which is too less.
Is SBI CB easy to get? And is the provided Limit good in most cases?

Yes Amazon 1% + SBI CB 5%
Yes park+ is capped at 5K max
Yes, if you already have a SBI Card easy to get. The limit will be less compared to other cards just transfer some limit from your existing SBI card by calling the CC