Need Suggestions on buying Gold Coin from Amazon using Credit Card

[ak_1978]

My take here was- If I am planning a trip and need to book Accor property usitng axis rewards, I can buy gold coin and then sell it. It would atleast save me 5-7 %.

Please evaluate this plan carefully. There are losses on making charges and tax while selling gold coins. Your reward rate must clearly be higher than these 2 costs. Infinia barely breaks even. M4B might get you the returns. Don't forget the IT scrutiny if spends cross 10 lakhs. Cheers

 

[magnusfan]

My take here was- If I am planning a trip and need to book Accor property usitng axis rewards, I can buy gold coin and then sell it. It would atleast save me 5-7 %.

It's a bad plan - making charges and taxes + discount on selling will spoil your game!
Buy gold for appreciation benefits - don't tangle with hotels! My 2 cents.

You may want to calculate when Myntra is at 10x - at 5x, it won't make sense

 

[shashwatchadha]

Please evaluate this plan carefully. There are losses on making charges and tax while selling gold coins. Your reward rate must clearly be higher than these 2 costs. Infinia barely breaks even. M4B might get you the returns. Don't forget the IT scrutiny if spends cross 10 lakhs. Cheers

Understood thanks. Still new with CCs

 

[shashwatchadha]

It's a bad plan - making charges and taxes + discount on selling will spoil your game!
Buy gold for appreciation benefits - don't tangle with hotels! My 2 cents.

You may want to calculate when Myntra is at 10x - at 5x, it won't make sense

Understood . Thanks

 

[shashwatchadha]

Not necessary, if you carefully evaluate, u will get many at a discount since the volume in this market is low..so, if u r buying, hold till maturity!

Still very difficult to get. Where there is low volume , price can easily be manipulated. Not a straight way thing.

 

[drvirag]

I used to buy gold coins from Amazon when dere is card offer. But when I checked same mmtc coin at retail store it is already cheaper than amazon. Have u checked price at any store near u

 

[shashwatchadha]

I used to buy gold coins from Amazon when dere is card offer. But when I checked same mmtc coin at retail store it is already cheaper than amazon. Have u checked price at any store near u

I'll check this. Any idea how much difference is there ?

 

[drvirag]

I'll check this. Any idea how much difference is there ?

When I checked it was around 10% but dat depends if u know jeweller. They can reduce dere margins.

 

[nayra]

Try from tata neu with 5% back & use infinity or cashback for further 5%

You mean buying myntra vouchers right?

 

[sumeet]

You mean buying myntra vouchers right?

Yes and you can get super coins and with vip great benefits