Infinia Jewellery purchase using CC from big stores

[blew]

I need to purchase around 7-8L of gold jewellery next month and gonna buy it from big stores which accept credit card.

I know that there are already few threads but couldn't get the answers from there so creating a new one.

Cards I've -> Infinia, amex plat travel, neu infinity, sbi cb.

I've been accumulating apay and asv vouchers from last 2 months using my infinia to buy gc of jewellers from Amazon.

Few questions that I've:

Is there any other card I should apply?

Can I buy jewellers gc using sbi cb on Amazon to get 5% on 1L purchase?

Can I use axis atlas to buy jeweller gc from Amazon and get 2% miles and milestone benefits? I'm anyway thinking of applying axis atlas irrespective of this.

Can I pay using Amex since I've read in previous gold purchase threads that you can't buy in initial 6 months of account opening? If yes, I can refer someone else in my family and use their card as well for 4L.

Worst case, I'll use infinia to swipe directly for 3.3%.

TIA!

 

[prankster]

Icici amazon cc, gives 1% (I think unlimited, but please confirm)

 

[blew]

Icici amazon cc, gives 1% (I think unlimited, but please confirm)

Infinia will give 3.3% anyway and have some visa offers as well for kalyan.

Looking to optimise further, if possible xD

 

[Pissant]

Tata Neu Infinity at Tanishq will get you 5%

 

[HumorSimpson]

Can I buy jewellers gc using sbi cb on Amazon to get 5% on 1L purchase?

Amazon has some restrictions that doesn't allow you to buy 1L. May be check site like 'cre***ds'

Can I use axis atlas to buy jeweller gc from Amazon and get 2% miles and milestone benefits? I'm anyway thinking of applying axis atlas irrespective of this.

@drsel

Can I pay using Amex since I've read in previous gold purchase threads that you can't buy in initial 6 months of account opening? If yes, I can refer someone else in my family and use their card as well for 4L.

 

[blew]

Tata Neu Infinity at Tanishq will get you 5%

Yeah, bought like 4L worth from Tanishq using Neu Infinity (got 5% after mailing them, initially only got 1.5% since store wasn't directly owned by Tata's).

But later realised that their making charge is atleast 4-5% higher than other chains so we would probably avoid Tanishq altogether for this purchase.

 

[venuharry]

use infinia straight forward or infinity, as I have purchased gift voucher of joyalukkas for 1.5lac and got 2% cashback and 2% instant discount using amazon pay, but the twist is I have purchased diamond jew's vouchers mistakenly (as both gold and diamond banners were same got confused and purchased diamond vouchers). Also sometimes gift vouchers take time to activate.

 

[HumorSimpson]

But later realised that their making charge is atleast 4-5% higher than other chains so we would probably avoid Tanishq altogether for this purchase.

correct . no wonder credit cards want to recover the 5% like this.

 

[blew]

use infinia straight forward or infinity, as I have purchased gift voucher of joyalukkas for 1.5lac and got 2% cashback and 2% instant discount using amazon pay, but the twist is I have purchased diamond jew's vouchers mistakenly (as both gold and diamond banners were same) and ended up purchasing diamond jew. Also sometimes gift vouchers take time to activate.

Yeah, that is something we need to be careful about and confirm with store.

I've bought a lot of Tanishq gift cards using sbi cb from both tata neu app as well as amazon pay. Got 5% cb and some extra discount (on diamond, nothing on gold).

Way better than 5% neu coins imo

 

[Pissant]

Yeah, bought like 4L worth from Tanishq using Neu Infinity (got 5% after mailing them, initially only got 1.5% since store wasn't directly owned by Tata's).

But later realised that their making charge is atleast 4-5% higher than other chains so we would probably avoid Tanishq altogether for this purchase.

Really? I find tanishq to have lesser making charges than joyallukas, caratlane and giva

 

[blew]

Really? I find tanishq to have lesser making charges than joyallukas, caratlane and giva

Can't say about giva and caratlane since haven't visited there but Malabar and Joyalukkas is definitely cheaper than Tanishq.

Also, Joyalukkas has 25% making charge discount on Amex cards and 6-10% on diamond.
Kalyan also has 35% on amex and 25% on visa cards and 6-10% on diamond.

 

[drsel]

Using a credit card to buy gold just to earn 5%, and then selling it to the shops will make you lose in 5 different ways

When you buy gold you will lose
dealers margin
3% GST
making charges
and when you sell gold you will lose
dealers margin
melting charges

 

[blew]

Using a credit card to buy gold just to earn 5%, and then selling it to the shops will make you lose in 5 different ways

When you buy gold you will lose
dealers margin
3% GST
making charges
and when you sell gold you will lose
dealers margin
melting charges

I need to buy jewellery and hence, optimising and trying to get maximum points. Not the other way around 🙂

 

[drsel]

I need to buy jewellery and hence, optimising and trying to get maximum points. Not the other way around 🙂

Agreed but always remember that people buy Gold because they think they can sell it at a profit.
If they have to sell it at a loss or they can't find any buyer for the gold, then no one will buy gold.
BECAUSE IT HAS ONLY ORNAMENTAL VALUE,
Very little UTILITY value.

Gold does not pay any interest, rent or dividend but it still considered an asset, only because it is a hedge against inflation/ currency depreciation

 

[Manikanta Svm]

1. Jewellery is excluded category for SBI cards, but gift cards you can try if you are getting more discounted mostly avoid tanishq making charges are more
2. Axis atlas won't give us any points/considers for milestones
3. Amex plat travel we can use to pay , you can split payments in to 2 one pay for 4 lakhs and another card 3 lakhs if you have more than one card from your family

2,3 points I have tried very recently and I can confirm these

 

[blew]

1. Jewellery is excluded category for SBI cards, but gift cards you can try if you are getting more discounted mostly avoid tanishq making charges are more
2. Axis atlas won't give us any points/considers for milestones
3. Amex plat travel we can use to pay , you can split payments in to 2 one pay for 4 lakhs and another card 3 lakhs if you have more than one card from your family

2,3 points I have tried very recently and I can confirm these

Do you know if there is any restriction of buying jewellery for 6 months since account opening on amex plat travel which I read in some other threads?

 

[vadixit]

Agreed but always remember that people buy Gold because they think they can sell it at a profit.
if they have to sell it at a loss or they can't find any buyer for the gold, then no one will buy gold

This might be true for all the assets. If I have to sell house or shares at loss or cant find buyer, then noone will buy those as well. Only difference is the transaction cost and timeline you are thinking. While you hold gold in jewelry form, can use as well.

 

[Manikanta Svm]

Do you know if there is any restriction of buying jewellery for 6 months since account opening on amex plat travel which I read in some other threads?

absolutely no , my card is only 1 month new I paid around 6L in single payment

 

[drsel]

This might be true for all the assets. If I have to sell house or shares at loss or cant find buyer, then noone will buy those as well. Only difference is the transaction cost and timeline you are thinking. While you hold gold in jewelry form, can use as well.

You may be surprised to know that there are millions of people who sell shares at a loss.
During Lehmann bros crisis, thousands in USA sold houses at a loss

 

[drsel]

Gold jewellery has only ORNAMENTAL VALUE,
Very little UTILITY value.

Gold does not pay any interest, rent or dividend but it is still considered an asset, only because it is a hedge against inflation/ currency depreciation