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

 

[AllThatStuff]

My brother is having 63k points on his MRCC & they are planning for a trip to Goa this month. Any suggestions on how to get best value of these 63k points for flight booking (DEL to GOA) & hotel stays for 3 persons....

 

[plastikman]

Amex MRCC ? how 6.66% explain.

Amex Gold Charge 6.66% min. including fuel spends

For MRCC 1.5 x 4 times to get 5.16% min. It is excellent for offline spends otherwise. Assuming each spend within 2k x 4 times, still 3.8% min can be obtained which is better than any other card for offline spending. But MRCC won't work for fuel.

 

[Tejas]

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

1.5 Lacs MR Points per Card. So if you have 3 Cards, its 4.5 Lacs MR Points.

If you have Platinum Charge Card, thats another 5 Lac MR Points Referral Quota.

So the people who have 4 Amex Cards, have a combine limit of 9 Lac MR Points that can be earned thru Referral Bonuses.

 

[plastikman]

Amex MRCC ? how 6.66% explain.

For Gold charge, on spending 1k x 6 times, one obtains 1600 MR points which minimum yield 400Rs using pay by points / statement credit. Although, there are better redemption options.

Likewise for MRCC, spending 1500 x 4 times yield 1240 MR points yielding 310 Rs using pay by points / statement credit.

One can redeem from the 18K catalogue of not into miles game.

No other card comes close for offline spends.

 

[Chacha_vidhayak]

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.

Nowdays amex is also bringing good discounts offers with accor for plus members. So helpful for hotels too.

 

[HumorSimpson]

One can redeem from the 18K catalogue of not into miles game.

Whats this catalog? Tanishq.?

 

[plastikman]

Whats this catalog? Tanishq.?

No, there are multiple choices including Amazon Pay Vouchers where 18000 MR points can be redeemed for Rs 6000 AGV valuing each point at 0.3Rs / point i.e. 6.16%.

I'm attaching the redemption list for reference.

 

[HumorSimpson]

No, there are multiple choices including Amazon Pay Vouchers where 18000 MR points can be redeemed for Rs 6000 AGV valuing each point at 0.3Rs / point i.e. 6.16%.

I'm attaching the redemption list for reference.

SO, every month 1000x6 -->
base + bonus = 120 +1000 MR

13,440 MRs per annum ?

 

[Adith]

SO, every month 1000x6 -->
base + bonus = 120 +1000 MR

13,440 MRs per annum ?

If you are talking about MRCC , then its

1500x4 = 120+1000 = 13440 MR ( Done via Amazon or tata Neu etc where its 1MR every 50 Rs)
1500x4 = 240+1000 = 14880 MR ( Done via Amex Gyftr which gives 2X points so its 1MR every 25 Rs)

If you are talking about Gold Charge , then its

1000x6 = 120+1000 = 13440 MR ( Done via Amazon or tata Neu etc where its 1MR every 50 Rs)
1000x6 = 600+1000 = 19200 MR ( Done via Amex Gyftr which gives 5X points so its 1MR every 10 Rs)

 

[plastikman]

SO, every month 1000x6 -->
base + bonus = 120 +1000 MR

13,440 MRs per annum ?

1000 x 6 is only for gold charge

If done offline / online (non gyftr reward multiplier) then it is 1 MR point / 50 Rs i.e. 20 points / 1000 spend.
So base 20 + 1000 = 1020 MR points / month
I.e. 12240 MR / pa.

If done on Amex Gyftr Reward Multiplier then 5X bonus I e. 100 MR poonts / 1000 spend.
So base 600 + 1000 = 1600 MR points / month.
I.e. 19200 MR / pa.

 

[HumorSimpson]

If you are talking about Gold Charge , then its

1000x6 = 120+1000 = 13440 MR ( Done via Amazon or tata Neu etc where its 1MR every 50 Rs)
1000x6 = 600+1000 = 19200 MR ( Done via Amex Gyftr which gives 5X points so its 1MR every 10 Rs)

Let's take gold 🥇, for 18000 points(leaving that 1200 aside) , I get 6000 agv.

So it's 6000*100/(12*6000) =~8%.

But the fee will make it an MDC.

 

[Slayer]

Let's take gold 🥇, for 18000 points(leaving that 1200 aside) , I get 6000 agv.

So it's 6000*100/(12*6000) =~8%.

But the fee will make it an MDC.

Fee can be negotiated init

 

[coolguy1]

Let's take gold 🥇, for 18000 points(leaving that 1200 aside) , I get 6000 agv.

So it's 6000*100/(12*6000) =~8%.

But the fee will make it an MDC.

First year is just ₹1000 fees for the Gold card and the second year can be negotiated with CC based on your first year spends. 🙂

 

[Riya]

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

Well SBI Cashback card and AMEX cards are meant for totally different consumer base...
If you shop online then nothing better than SBI cashback but if you are thinking just for 1500*4=6000 per month on amex then you'll get a bit more returns...
The 14000 MR points are worth Rs 4,666.67/- cashback using gold collection whereas SBI cashback will give flat 5% cashback adjusted to statement...

So the card depends on the type of spending you do.....

 

[Adith]

Let's take gold 🥇, for 18000 points(leaving that 1200 aside) , I get 6000 agv.

So it's 6000*100/(12*6000) =~8%.

But the fee will make it an MDC.

If you are gonna calculate gold charge , you should always include both the fees as well as the 5X rewards. Else gold calculation won't be straightforward.

Let's assume you just do 6000 a month for a year , and I'm counting 2 years so it's a more clear calculation,

6000*12*2 = 1,44,000 rs
Fees = 1,180(referral) + 5,300 = 6,480
Total spends = 1,50,480
MR points earned = 38400 + referral bonus of 2000 = 40,400
If we take 18k collection, then we can get two Amazon vouchers of 6k each =12000.

Total earnings = 12000/150480 = 7.8% with around 4k points still left .

Gold charge is good if you do everything via gyftr . Else take MRCC .

 

[helloworld]

Let's take gold 🥇, for 18000 points(leaving that 1200 aside) , I get 6000 agv.

So it's 6000*100/(12*6000) =~8%.

But the fee will make it an MDC.

Thread 'AMEX MRCC vs Gold vs Travel vs Reserve'

Thread 'AMEX MRCC vs AMEX Gold vs AMEX Travel vs AMEX Reserve'

Aug 19, 2024

Update: Currently FYF not applicable for MRCC / Plat. Travel using referral links.

Category	MRCC	Gold Charge	Plat. Travel	Plat. Reserve
Joining Fee (with referral + GST)	1180	₹1,180	4130	₹11,800
Joining Benefits (with referral)	2000+4000 MR (on spending ₹15,000)	6000 MR (on spending ₹15,000)	12000 MR (on spending ₹15,000)	15000 MR (on spending ₹25,000)

...

• helloworld
• Replies: 77
• Forum: American Express

• 
• 
• 

Thread 'What's your gold charge retention offer?'

Thread 'Breaking Down AMEX Gold Charge Card Retention Offers: Are They Worth It?'

Jul 3, 2023

American Express® Gold Card​

Annual Fee: 5310

Would like to share some insights into American Express Gold Charge Card retention offers and how they affect your net rewards after considering the card’s annual fee. Many of us face a tough decision when the annual fee comes around, but understanding the available retention offers can help you make a more informed choice.

Normal reward rate:

		18k/24k Collection
Welcome Gift (Spend 5k in 90days)	4000 MR	-

...

• helloworld
• Replies: 84
• Forum: American Express

• 

Gold charge including fee can give >7% and upto 20% with Taj voucher and even more for Marriott depends on how much one can value those redemptions.

 

[Chacha_vidhayak]

If you are gonna calculate gold charge , you should always include both the fees as well as the 5X rewards. Else gold calculation won't be straightforward.

Let's assume you just do 6000 a month for a year , and I'm counting 2 years so it's a more clear calculation,

6000*12*2 = 1,44,000 rs
Fees = 1,180(referral) + 5,300 = 6,480
Total spends = 1,50,480
MR points earned = 38400 + referral bonus of 2000 = 40,400
If we take 18k collection, then we can get two Amazon vouchers of 6k each =12000.

Total earnings = 12000/150480 = 7.8% with around 4k points still left .

Gold charge is good if you do everything via gyftr . Else take MRCC .

Imo gold charge card is more beneficial in the first yr . In all other situations MRCC suits more practical ( in terms of renewal fees too ) whether for first yr or subsequent yrs provided spends are above 90k or 150k .

 

[coolguy1]

Imo gold charge card is more beneficial in the first yr . In all other situations MRCC suits more practical ( in terms of renewal fees too ) whether for first yr or subsequent yrs provided spends are above 90k or 150k .

Gold comes in handy only if you buy a lot of vouchers, and I meant A LOT of vouchers.
And stay in expensive hotels as it offers $100 credits when staying in certain hotels.

 

[Adith]

Gold comes in handy only if you buy a lot of vouchers, and I meant A LOT of vouchers.
And stay in expensive hotels as it offers $100 credits when staying in certain hotels.

Actually it's good even with just 6000 a month in Amazon vouchers . Can get solid 7% returns with just that .

 

[350modena]

Actually it's good even with just 6000 a month in Amazon vouchers . Can get solid 7% returns with just that .

Coz gold is 5x in multiplier vs 2x from MRCC and 3x from plat travel.