What can be done, as Amex is cancelling my cards

[Heisenberg37]

Hi guys
As in previous post i shared my experience of horrible FR.
Now that they are cancelling my cards is there anything i can do to convince them to keep them.

And for example they cancelled my cards when can I reapply again?

 

[plastikman]

Im a noob in airmiles and hotel stuff
I can do any amount of transaction per month I have pos machine so that's not a problem but the net return and the redemption options I'll have to study

Even if you redeem MR points for AGV via the 18k/24k catalogue, you'll get a value of 0.33 Rs / MR point.

 

[drsel]

Isn't the returns after annual fee still north of 5%
How's that a bad card in any case??

It's good for many, but I get much better returns from other cards

 

[Riya]

It's good for many, but I get much better returns from other cards

Please share your portfolio, spending strategy and returns you get from them

 

[abhishek12333@rediffmail.]

All Amex cards are useless and complicated. All thess monthly tasks of 1000x6, 1500x4, 20000, 2x reward multiplier, buying vouchers, requesting for fee waivers every time etc. are completely not worth. Too much hassles and headache. Better to have a cashback card like SBI cashback that gives real 5% cashback on online transactions. You will not miss Amex a single day!!

 

[350modena]

Im a noob in airmiles and hotel stuff
I can do any amount of transaction per month I have pos machine so that's not a problem but the net return and the redemption options I'll have to study

Then read some threads on maximizing returns (north of 5%) on MRCC.. just by monthly spends of 6k (1500*4) in alternate months and 20k (1500*4 +14000) in other months.

 

[sravanbrahma]

Got it now..
Btw It's fine for me I do nps payment with MRCC which I am gonna do anyways..

Advantage ? I guess you are still in old regime ?

 

[SunnyM]

All Amex cards are useless and complicated. All thess monthly tasks of 1000x6, 1500x4, 20000, 2x reward multiplier, buying vouchers, requesting for fee waivers every time etc. are completely not worth. Too much hassles and headache. Better to have a cashback card like SBI cashback that gives real 5% cashback on online transactions. You will not miss Amex a single day!!

I agree . For most people this point is true including me but there can also be instances where people who are high earners and spenders can milk the card properly and take full advantage. But the fact is that according to many amex card holders the services from last two years has deteriorated so much that it doesn't feel premium any more. As Amex is mostly held by individuals upwards of 10 crore net worth who don't care about 5% petty cashback like we do.

 

[350modena]

Advantage ? I guess you are still in old regime ?

NPS is a good investment to diversify into, even without the tax benefit.

 

[Pravas]

NPS without tax benefit is a very bad product.

You don't have any control of your money, anyday the government can change the rules and you can't do anything for that, like they did for SGB.

Better invest on a low cost index fund if you are not getting tax benefit for this. Atleast you would have control over what to do with your money.

 

[Riya]

All Amex cards are useless and complicated. All thess monthly tasks of 1000x6, 1500x4, 20000, 2x reward multiplier, buying vouchers, requesting for fee waivers every time etc. are completely not worth. Too much hassles and headache. Better to have a cashback card like SBI cashback that gives real 5% cashback on online transactions. You will not miss Amex a single day!!

But isn't this the case with all the cards, meeting spend criteria to maximise points and earn rewards

 

[drsel]

It's good for many, but I get much better returns from other cards

Better cards providing much higher returns without any hassle are--
Magnus Burgundy
Infinia
Biz Black
Atlas
Airtel
AU Lit

 

[drsel]

When I had MRCC for 4 years, I was actually getting 16.66% higher returns (7000 Amazon pay then, instead of 6000 Amazon pay right now for 18k points).

But still I closed it because I got much better cards

 

[AllThatStuff]

NPS without tax benefit is a very bad product.

You don't have any control of your money, anyday the government can change the rules and you can't do anything for that, like they did for SGB.

Better invest on a low cost index fund if you are not getting tax benefit for this. Atleast you would have control over what to do with your money.

I totally second this !!!

 

[AllThatStuff]

It's good for many, but I get much better returns from other cards

When I had MRCC for 4 years, I was actually getting 16.66% higher returns (7000 Amazon pay then, instead of 6000 Amazon pay right now for 18k points).

But still I closed it because I got much better cards

Please share your portfolio, spending strategy and returns you get from them

India wants to know your CC portfolio & spending strategy !! @drsel bhai

 

[drsel]

Isn't the returns after annual fee still north of 5%
How's that a bad card in any case??

If you pay the renewal fee of 1770, the return goes down to 4.43%.
12 x 1240 points on 12 x (4 x 1500) spend to buy 12 x 6000 Amazon pay on Amex Gyftr 2x

If you pay the renewal fee of 885 (at 50% discount), the return goes down to 5.66%
12 x 1240 points on 12 x (4 x 1500) spend to buy 12 x 6000 Amazon pay on Amex Gyftr 2x

 

[drsel]

India wants to know your CC portfolio & spending strategy !! @drsel bhai

I have taken the trouble to made a thread on cards giving over 10% return.

Thread 'Cards giving 10% return or more' https://www.technofino.in/community/threads/cards-giving-10-return-or-more.25667/

 

[drsel]

India wants to know your CC portfolio & spending strategy !! @drsel bhai

These are some cards giving 10% or more on select categories.
Notice that no American express Card comes even close--

1. Axis Magnus Burgundy (30% on Eazydiner, 24% on Grabdeals and Traveledge)
2. HDFC Infinia and Diners Club Black (15.55% or 12.6% for Amazon pay on Smartbuy)
3. Axis Atlas (10% on Traveledge, direct hotels and direct airlines)
4. Axis Airtel (on Airtel App) 25% on Airtel, 10% on utility bills, Swiggy, Zomato and BB)
5. HDFC Swiggy 10%
6. AU Lit (5% grocery/apparel + 5% bonus + 2.5% online/offline)
7. Tata Neu Infinity (on purchases of select categories on Tata neu app)
8. HSBC Cashback 10% on dining, groceries and food delivery (only for salaried employees)
9. IndusInd exclusive/select debit card for 20% discount (max 500 on 2500) on big basket between first to 25th of every month.
10. Rupay debit card for 20% discount on mobile recharge on Amazon every Friday (max 100 on 500)

 

[Zacobite]

Advantage ? I guess you are still in old regime ?

new regime also allows nps.. by employer

 

[drsel]

These are some cards giving 10% or more on select categories.
Notice that no American express Card comes even close--

1. Axis Magnus Burgundy (30% on Eazydiner, 24% on Grabdeals and Traveledge)
2. HDFC Infinia and Diners Club Black (15.55% or 12.6% for Amazon pay on Smartbuy)
3. Axis Atlas (10% on Traveledge, direct hotels and direct airlines)
4. Axis Airtel (on Airtel App) 25% on Airtel, 10% on utility bills, Swiggy, Zomato and BB)
5. HDFC Swiggy 10%
6. AU Lit (5% grocery/apparel + 5% bonus + 2.5% online/offline)
7. Tata Neu Infinity (on purchases of select categories on Tata neu app)
8. HSBC Cashback 10% on dining, groceries and food delivery (only for salaried employees)
9. IndusInd exclusive/select debit card for 20% discount (max 500 on 2500) on big basket between first to 25th of every month.
10. Rupay debit card for 20% discount on mobile recharge on Amazon every Friday (max 100 on 500)

Kindly give me max. points for my reputation, Thanks

All these cards are way better than all American express cards, that too without any hassle

 

[Sriim]

All these cards are way better than all American express cards, that too without any hassle

What about the fees? And approval?

M4B needs burgundy criteria
Infinia needs high ITR/high spends on lower card/ULIP

You can't seriously compare m4b and infinia with MRCC

Atlas also has high fees i guess. Other cards you've mentioned are very good cards only in their niche, MRCC is more all round card

I'm not saying MRCC is the best card or Amex is the best card provider. And it's totally agreeable that it was surplus to your portfolio

But if someone's use case is around 20k/month and amex is accepted for their spends, 3-4% across all categories is excellent returns when compared to 1% on airtel axis and 1.5% on hsbc/tata neu