Help me understand Amex

[rohan_nerd]

I see a lot of people are posting on Twitter how Amex is the best credit card out there, so far I am currently using SBI cashback, HDFC Regalia gold, Tata neu Infinity and yearly credit card spending is around 3 lakhs. I am trying to understand how is Amex better than SBI cashback card. Can anyone give me a comparison

Lets take Amex MRCC for example
If I spend 6000 per month I will get total 12000 points in a year
Bonus 2000 points on joining via referral
Total points=12000+2000=14000points

72K spend on SBI cashback card in a year
Total cashback=(72000*.05)=3600RS

Now what I know 1 amex points is 0.5 airmiles so 14000 points become 7000 points in airmiles. I wanna know people who know about airmiles if I can buy a flight ticket with 7000 points

 

[vine]

It's not, if you don't travel much or stay a lot on hotels.
Don't worry. Don't do anything with FOMO.

 

[Swastik]

If you spend 4L on Amex Plat Travel in year and use reward multiplier as much as possible, it'll get you 10k Taj vouchers + 40k+ Amex points which can be transferred to marriot for stays

I mean it's a little more complicated than this but for summary above will do

 

[HumorSimpson]

Amex is LIC of credit cards. The foot soldiers of amex sell it for referal benefits.

 

[HumorSimpson]

For most amex cards are MDCs for their pathetic acceptance, but gets sold like a pyramidal scheme scam like amway. wow what a coincident both start with AM.

 

[Swastik]

Amex is LIC of credit cards. The foot soldiers of amex sell it for referal benefits.

While i do agree that a lot of people oversell Amex to earn referral points,
And Amex as an organization might seem like a ponzi scheme due to their referral practices

But as holder of Plat Travel for about 2 years who hasn't earned any referral points ever, i can assure you that the card is definitely worth it

And don't worry, i won't DM you my referral link unless you ask for it 😅

 

[Swastik]

Based on your spends my advice is look into Amex MRCC, do your own research and then if you like it, try it out for a year

 

[Chacha_vidhayak]

While i do agree that a lot of people oversell Amex to earn referral points,
And Amex as an organization might seem like a ponzi scheme due to their referral practices

But as holder of Plat Travel for about 2 years who hasn't earned any referral points ever, i can assure you that the card is definitely worth it

And don't worry, i won't DM you my referral link unless you ask for it 😅

Do people really earn lakhs of MR points using referral 😅 just asking …

 

[HumorSimpson]

But as holder of Plat Travel for about 2 years who hasn't earned any referral points ever, i can assure you that the card is definitely worth it

yeah any CC can be a rewarding CC or MDC and vice versa, depending on one's spending pattern.

 

[arun4455]

Do people really earn lakhs of MR points using referral 😅 just asking …

Yes, I know few people who earns full 1.5 lacs through referral only.

 

[rogerthat]

I see a lot of people are posting on Twitter how Amex is the best credit card out there, so far I am currently using SBI cashback, HDFC Regalia gold, Tata neu Infinity and yearly credit card spending is around 3 lakhs. I am trying to understand how is Amex better than SBI cashback card. Can anyone give me a comparison

AMEX is not to be used like normal credit cards by swiping them here and there (mainly because they are not accepted that widely) but in a very dedicated and calculated manner to achieve a specific target.

I use the AMEX Gold Charge and AMEX MRCC for buying Amazon GVs from AMEX Gyftr to achieve monthly milestones (2840 MR points on Rs.12000 spend) which gives me 11.84% return when converted to airline miles (Emirates Skywards). AGVs are used to pay utility bills and load Amazon Pay wallet to pay for services like Uber and other places that accept APay balance.

Then I also use the AMEX Platinum Charge to load Mobiqwik wallet (for UPI payments and transfter to bank for rent payment) and to pay a large insurance premium yearly which gives 6.84% return for the same airline transfer.

The bonus is that if you travel and stay at premium properties you will get great deals on AMEX from time to time.

 

[Adith]

I see a lot of people are posting on Twitter how Amex is the best credit card out there, so far I am currently using SBI cashback, HDFC Regalia gold, Tata neu Infinity and yearly credit card spending is around 3 lakhs. I am trying to understand how is Amex better than SBI cashback card. Can anyone give me a comparison

Id basically say amex mrcc is like the compensator for places where sbi wont be good. Insurance, UPI, Government transactions and gold schemes etc are usually not applicable for CB or are exempted from Reward points can be covered through AMEX if you are ready to jump through some hoops.

MRCC provides you are 4-5% returns MINIMUM if you redeem for the Amazon voucher and you can basically buy Amazon vouchers through amex gyrtr, load your amazon wallet and pay LIC, Government bills, Gold schemes etc. Now you are getting 4-5% returns on these usually exempted stuff.

You can also load Mobikwik with a 2.5% (2.9% - 50 Rs cashback) charge and earn around 2-2.5% returns on even basic UPI spends like scanning at a tea shop and whatnot.

It helps to fill the gaps that SBI cashback might have at times thats all.

I'm not recommending you to take AMEX fyi, just showing what the difference is like you asked. If you are satisfied with the answer, kindly mark this as the solution.

PS :

Calculation of a basic nature :
1st Year -> 72k a year i.e 6000 monthly [1500*4 transactions] which gives you 1000 points = 12000 MR
1st Year fee -> Free with Referral
2nd Year -> 72k a year i.e 6000 monthly [1500*4 transactions] which gives you 1000 points = 12000 MR
2nd Year fee ->1500+GST

So total spends = 144000+1650 = 145650
Total MR Points from just milestone = 24000
Amazon Voucher = 8000 Rs voucher redeemed for 24000MR

Therefore Total rewards = 8000/145650 = 5.4% . This is just a rough calculation.

 

[Tejas]

Yes, I know few people who earns full 1.5 lacs through referral only.

Full 9 Lacs thru referrals (Husband & Wife - 3 Cards each)

And if someone is really influential, add some referral points from the Amex Platinum Charge Card too which has a separate quota of 5 Lacs MR Points per Platinum Charge Card.

 

[Tejas]

Do people really earn lakhs of MR points using referral 😅 just asking …

Yes. This is just my earning thru referrals and I don't push Amex Referrals to anyone.

2022 - 3 Lacs MR Points
2023 - 4.5 Lacs MR Points
2024 - 7.24 Lacs MR Points & counting

Disclosing my referral earnings for the first time. Might delete later. 😆

 

[plastikman]

For most amex cards are MDCs for their pathetic acceptance, but gets sold like a pyramidal scheme scam like amway. wow what a coincident both start with AM.

Offline spending 1k x 6 times a month gives a minimum of 6.66%. Can be used for fuel filling too.

 

[Adith]

Yes. This is just my earning thru referrals and I don't push Amex Referrals to anyone.

2022 - 3 Lacs MR Points
2023 - 4.5 Lacs MR Points
2024 - 7.24 Lacs MR Points & counting

Disclosing my referral earnings for the first time. Might delete later. 😆

How do you have the tags " Credit Card Expert" and "Airmiles Expert" ? So Curious to know !!!

 

[Swastik]

Do people really earn lakhs of MR points using referral 😅 just asking …

I think there's an upper limit of referral bonus per year, i think it's 1L per yr, not sure though

 

[rohan_nerd]

2022 - 3 Lacs MR Points
2023 - 4.5 Lacs MR Points
2024 - 7.24 Lacs MR Points & counting

Disclosing my referral earnings for the first time. Might delete later. 😆

Lets say I got Amex MRCC and got 14000 points in first year, can I book any Delhi to Bangalore flight with this points? Sorry I don't have much idea on points to airmiles to conversion rate on Amex

 

[HumorSimpson]

Offline spending 1k x 6 times a month gives a minimum of 6.66%. Can be used for fuel filling too.

Amex MRCC ? how 6.66% explain.

 

[arjun697]

I use all 3 for the set limits and points. Plat Travel for 4L, MRCC for 20k each month and Gold for 6k each month. Gold and MRCC all online. Plat Travel I guess around half the spends would be offline. It's decent for me, this will get me around 100k points every year. I'm yet to figure out Airmiles but for hotels, 1.3L is good enough to try in a lot of places. This benefit counts as an experience whereas a cashback card is just like an overall discount and zero experience.