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

 

[abhimittal007]

Can someone plz confirm if I can buy Gold on FK with Gyftr voucher. Need to buy MMTC/BRPL which are available only on FK and Amazon but Amazon price is very high.

 

[Akinich]

Hello, I am new here. I wanted to know the best way to buy Gold coins worth Rs 500000 . I am already buying gold coin every month using Myntra gift voucher from smart buy using infinia.
Does it make sense to get Axis Magnus Burgundy for this ?

How are you able to buy gold coins using Myntra vouchers from smart buy?
Doesn't the terms and conditions prevent buying of gold coins or bars? 😅

 

[sumeet]

How are you able to buy gold coins using Myntra vouchers from smart buy?
Doesn't the terms and conditions prevent buying of gold coins or bars? 😅

You can buy from myntra credits. no restrictions

 

[Akinich]

Can someone plz confirm if I can buy Gold on FK with Gyftr voucher. Need to buy MMTC/BRPL which are available only on FK and Amazon but Amazon price is very high.

You can buy vouchers from SmartBuy / GyFTR for flipkart and use it to buy gold coins. I just did it today.

 

[Akinich]

You can buy from myntra credits. no restrictions

Thanks, wasn't aware of Myntra working. Just flipkart and Amazon.
Any other vouchers from smart buy work for buying gold coins?

 

[sumeet]

Thanks, wasn't aware of Myntra working. Just flipkart and Amazon.
Any other vouchers from smart buy work for buying gold coins?

No idea as of now

 

[P3T3R_GOA]

I need to buy a 8g 24K gold coin. Planning to purchase it using Infinia and need your suggestions on how to get the maximum benefits from this.
- Which site to buy from? Most people buy from Myntra.
- Now should I buy from the Myntra website or the HDFC SmartBuy?
- Should I buy Myntra vouchers on SmartBuy and they use the vouchers on Myntra to buy the coin?
- On Myntra there are coins from different Jewellers like Kalyan, Joyallukas etc. Which one is the best.

I'll be grateful if someone lists out all the steps I need to follow to make the purchase.

 

[Akinich]

I need to buy a 8g 24K gold coin. Planning to purchase it using Infinia and need your suggestions on how to get the maximum benefits from this.
- Which site to buy from? Most people buy from Myntra.
- Now should I buy from the Myntra website or the HDFC SmartBuy?
- Should I buy Myntra vouchers on SmartBuy and they use the vouchers on Myntra to buy the coin?
- On Myntra there are coins from different Jewellers like Kalyan, Joyallukas etc. Which one is the best.

I'll be grateful if someone lists out all the steps I need to follow to make the purchase.

For 8g gold coin you'll need to around 72-76k based on the brand.

You can buy Myntra vouchers from smart buy on the infinia and then load them into your Myntra account.
Use the balance to make the payment at check out time.

You can't use the buy from Myntra option directly on smart buy as that doesn't give 5x on gold and silver coins as per terms and conditions.

As for which brand to buy - pick up a reputed brand that's economical.

 

[P3T3R_GOA]

For 8g gold coin you'll need to around 72-76k based on the brand.

You can buy Myntra vouchers from smart buy on the infinia and then load them into your Myntra account.
Use the balance to make the payment at check out time.

You can't use the buy from Myntra option directly on smart buy as that doesn't give 5x on gold and silver coins as per terms and conditions.

As for which brand to buy - pick up a reputed brand that's economical.

I know Infinia has a limit of 10K for Amazon Vouchers. Is there any limit on Myntra Vouchers or can I buy vouchers for the entire cost of the Gold Coin?

 

[Akinich]

I know Infinia has a limit of 10K for Amazon Vouchers. Is there any limit on Myntra Vouchers or can I buy vouchers for the entire cost of the Gold Coin?

No voucher limit seen on SmartBuy