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?

 

[sourpai]

You didn't get any IT notice till now? Spending 40L on ITR of 12.5?

How do you plan to navigate that, which will be a bigger problem than Amex closing the cards

 

[drsel]

Why begging for reputation points in almost every alternate post Sir? If you are good at something, people will anyways appreciate you.

You are right I deleted that part.
It is not at all important

 

[drsel]

I already got Infinia and biz black at 19

Congratulations! then you do not need any Amex card.
so be happy and move on

 

[dungeonMaster]

How much reward we get for paying nps payments of Rs50000 for one financial year , and also nps payments allow credit card with a fee, does amex cards support? Please provide more info on this , I would like to save some money on nps payments

I do 1500*4 nps, for a year 50k benchmark can be achieved. 15₹ surcharge extra for paying through any creditcard.
Sometimes I do 1500*2 or 1500*3, depends on my monthly spends..

 

[350modena]

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?

I dont think you can convince AMEX to let you keep these cards. Maybe you can negotiate to let them use your points (redeem or transfer out) - but if they believe points were earned in contravention to their MITC, then youve lost those too.

Next step is to understand are you permanently banned (PAN BLOCK) with Amex or can you reapply (if you are still interested) after a break.

 

[350modena]

I do 1500*4 nps, for a year 50k benchmark can be achieved. 15₹ surcharge extra for paying through any creditcard.
Sometimes I do 1500*2 or 1500*3, depends on my monthly spends..

its 0.70% if you use CC (Amex works) for Tier 1 investments + 18% GST so comes to about 0.82%.

 

[Sriim]

its 0.70% if you use CC (Amex works) for Tier 1 investments + 18% GST so comes to about 0.82%.

Small correction. It's 0.75% + gst = 0.885%

 

[350modena]

Small correction. It's 0.75% + gst = 0.885%

ahha thanks. havent paid via CC in last 3-4 months hence forgot the exact amount!

 

[vaibhav111vaibhav111 is verified member.]

I spent around 40 L from all of my cards in 1y3 months

Payment history was good
Cibil 779

That why amex cancelled. itr of 12.5L n spend are 3x only cause you asked for more le.

 

[gauravsuthar]

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/

Thread is not available.

 

[350modena]

Thread is not available.

you need to be a select or higher i think to get access.. so earn more points by being more active!

 

[drsel]

Thread is not available.

I already posted the list in this thread. Look above at the post number 37

 

[drsel]

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?

The answers to your 2 questions are --
1. You cannot convince them to reinstate your cards, after seeing what they have written.
2. You cannot re-apply again if they have permanently blocked your PAN

But most importantly, the solution to your problem is--
3. You should not be concerned about having or not having a card which gives you a lot of hassle to earn merely 4 to 5% return (after deducting the renewal fees).

Remember I purposely and purposefully closed MRCC, even though I was getting 16.67% higher return than everyone is getting now. (I had it for 4 years before the devaluation)

See my post number 37 mentioning 10 cards which are so much better and give over 10% return

you can and should choose from these better cards and move on

Kindly mark this as your solution, thanks

 

[popkorn]

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!!

correct

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.

your fate is like that . What others to do further?

 

[santoshraut]

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?

Let it go forever. It's not worth it. Acceptability of AmEx card is very low, and they are planning to devaluate it soon like other credit cards. I recently closed my MRCC and PT. I am very happy with my Axis Atlas, HDFC Infinia, SBI Club Vistara, AU Zenith Plus, and a few more...

 

[atul98923]

All this Hassel just to get 4.43% and 5.66%
How about using SBI CB or hdfc millennia and buy Amazon gv to get 5% instead

Return on amex is obviously bad if you want to redeem for anything other than travel.
Even within travel it's great if you opt for marriot. I'm easily able to get more than inr 1 value of each amex point by using them for marriot stays. Recently booked westin Rishikesh for 18k points per night when price on mmt was 40k per night so that's a value more than inr 2 per point. However, we can keep the value at inr 1 for simplicity.

Coming to earning points.
While spending 20k monthly on mmrc purely on gftyr, I am able to get 2k bonus reward points plus 800 points on spending that amount through 2x multiplier applicable on gfytr. In total 2.8k points every month so that's 14% return for me. Mmrc is ltf for me but it's full fee is waived off anyway if you spend 1.5L in a year which will happen for anyone who is spending 20k every month.

Even if someone does no spends on gyftr, they will get a return of 12% which is great

 

[sourpai]

Return on amex is obviously bad if you want to redeem for anything other than travel.
Even within travel it's great if you opt for marriot. I'm easily able to get more than inr 1 value of each amex point by using them for marriot stays. Recently booked westin Rishikesh for 18k points per night when price on mmt was 40k per night so that's a value more than inr 2 per point. However, we can keep the value at inr 1 for simplicity.

Coming to earning points.
While spending 20k monthly on mmrc purely on gftyr, I am able to get 2k bonus reward points plus 800 points on spending that amount through 2x multiplier applicable on gfytr. In total 2.8k points every month so that's 14% return for me. Mmrc is ltf for me but it's full fee is waived off anyway if you spend 1.5L in a year which will happen for anyone who is spending 20k every month.

Even if someone does no spends on gyftr, they will get a return of 12% which is great

Westin Rishikesh is outlier. Recently they have also changed points requirement to 25K per night. Leaving this use case aside, do you think you can consistently extract 1Rs per MR point in the future?

 

[drsel]

Return on amex is obviously bad if you want to redeem for anything other than travel.
Even within travel it's great if you opt for marriot. I'm easily able to get more than inr 1 value of each amex point by using them for marriot stays. Recently booked westin Rishikesh for 18k points per night when price on mmt was 40k per night so that's a value more than inr 2 per point. However, we can keep the value at inr 1 for simplicity.

Coming to earning points.
While spending 20k monthly on mmrc purely on gftyr, I am able to get 2k bonus reward points plus 800 points on spending that amount through 2x multiplier applicable on gfytr. In total 2.8k points every month so that's 14% return for me. Mmrc is ltf for me but it's full fee is waived off anyway if you spend 1.5L in a year which will happen for anyone who is spending 20k every month.

Even if someone does no spends on gyftr, they will get a return of 12% which is great

In Los Angeles near Hollywood boulevard, right now I can see a 3 star Marriott hotel for 88000 Marriott points for two nights.

Whereas a similar 3 star hotel in the same location I can get at a discounted revenue price of Rs 17850 for 2 nights on Agoda, including all taxes and 5% Agoda forex markup.

This specially discounted rate is only if you go through Google hotels and not directly on the Agoda website

 

[nahata28]

I already posted the list in this thread. Look above at the post number 37

Now able to open the link.

 

[drsel]

Now able to open the link.

Why do you need Amex at all when there are so many better cards available giving much higher returns without any hassle /trouble of doing 4 x 1500 and 6 x 1000 every month?

Not to mention the very poor acceptance of Amex cards in India.
Why do you think Amex was paying all its card holders to get new members?
That too a HUGE 12000 points for each and every new member!!

These are some cards giving 10% or more on select categories--
1. Axis Magnus Burgundy
30% on Eazydiner (900--1000 on 3000--3333)
24% on Grabdeals (upto 16666/mth)
24% on Traveledge (upto 2 lacs/mth)

2. HDFC Infinia
15.55% (Smartbuy 5x upto 112500)
31.10% (Smartbuy 10x upto 49950)

3. Axis Atlas
10% on Traveledge, direct hotels and direct airlines, no cap

4. Axis Airtel (on Airtel Thanks app)
25% on Airtel (max.250 on 1000)
10% on utility bills (max.250 on 2500)
10% on Swiggy, Zomato, BB (max.500 on 5000)

5. HDFC Swiggy 10% on Swiggy delivery

6. AU Lit
5% grocery/apparel + 5+1% bonus + 2% online/offline (on 10000/mth)

7. HDFC Biz Black
16.66% on tax payment (50000 to 56250 spend per month)

8. HSBC Cashback
10% on dining, groceries and food delivery, (max.1000 on 10000) (only for salaried employees)

9. IndusInd exclusive/select debit card
20% discount (max 500 on 2500) on big basket between 1st to 25th of every month.

10. Rupay debit card
20% discount on mobile recharge on Amazon every Friday (max 100 on 500)

Kindly mark this as your solution thanks