Which super premium credit card for Gold coin purchase?

[ak_1978]

HI TF community

Need your thoughts on which is the best super-premium credit card to purchase gold coins. If any of these is not a super-premium card, please flag that too

- AU Bank Zenith+ (has a current Amazon offer that expires tomorrow, 20th Oct 2024)
- HDFC Infinia (Perennial favorite for everything...any reward multiplier here?)
- SBI Aurum
- IndusInd Indulge
- Amex Platinum Reserve

Thanks in advance. Cheers

 

[drsel]

First find out what is your total transaction cost/loss on buying using credit card, and selling it back immediately

 

[drsel]

Usually the shop will charge 3% GST + 3% credit card fee, so you will definitely lose 6% immediately and no credit card will give anything close to 6%.

 

[Dr. Drake]

Usually the shop will charge 3% GST + 3% credit card fee, so you will definitely lose 6% immediately and no credit card will give anything close to 6%.

No reputed Big chains charge CC fee. Regional/small players charge 2.1% as per my limited Knowledge. If buying from big chains usually prefer to buy GV & make payment rather than direct cc (gave ex. for malabar/tanishq/reliance)

 

[ak_1978]

First find out what is your total transaction cost/loss on buying using credit card, and selling it back immediately

Thanks for that. I don't plan to sell the gold immediately. Will keep it for a while

 

[ak_1978]

Usually the shop will charge 3% GST + 3% credit card fee, so you will definitely lose 6% immediately and no credit card will give anything close to 6%.

I already bought some from Tanishq with Zenith+. No credit card charges were levied

 

[ak_1978]

No reputed Big chains charge CC fee. Regional/small players charge 2.1% as per my limited Knowledge. If buying from big chains usually prefer to buy GV & make payment rather than direct cc (gave ex. for malabar/tanishq/reliance)

Absolutely. This was my experience with Tanishq

 

[AlgoTrader]

Absolutely. This was my experience with Tanishq

It is heavily overpriced

 

[ak_1978]

It is heavily overpriced

Tell me about it. I lost the argument with wife about buying from elsewhere. I do agree with her that quality & brand have their price but for a value hungry person like me...sigh.

 

[drsel]

I already bought some from Tanishq with Zenith+. No credit card charges were levied

Absolutely. This was my experience with Tanishq

They recover a lot more than 3% in their making charges and markup.

 

[ak_1978]

Hmm, noticed that the theme in most of the responses so far is "Don't do it. Especially not in Tanishq". Let me just try Kalyan or GRT or something.

The original query remains unanswered. I will buy today. Which is the best card to use? @SSV would you have any thoughts?

 

[sky_walker_rules]

buy Tanishq/others vouchers from amazon. amazon asv voucher u can buy using Infinia.verify voucher applicability carefully before u buy.

 

[ak_1978]

Yes, thanks. I am doing this. Now infinia limits ASV to 5K per month

 

[SSV]

Yes, thanks. I am doing this. Now infinia limits ASV to 5K per month

Before you do this, make sure the vendor, in this case Tanishq allows buying gold.coin using their GV. Some vendors don't allow gv balance to be used for gold coin purchase . Example Ajio

 

[SSV]

Hmm, noticed that the theme in most of the responses so far is "Don't do it. Especially not in Tanishq". Let me just try Kalyan or GRT or something.

The original query remains unanswered. I will buy today. Which is the best card to use? @SSV would you have any

1) you want to buy Gold coin , Not gold jewellery.. right?
2) 24k or 22k?
3) howany gms we are talking about here?

 

[ak_1978]

1) you want to buy Gold coin , Not gold jewellery.. right?
2) 24k or 22k?
3) howany gms we are talking about here?

Gold coin, 24K, Say 50 grams

 

[ak_1978]

Before you do this, make sure the vendor, in this case Tanishq allows buying gold.coin using their GV. Some vendors don't allow gv balance to be used for gold coin purchase . Example Ajio

Noted. Important little thingy

 

[SSV]

Gold coin, 24K, Say 50 grams

See for this kind of purchase you need to plan well before..

One way:

Buying directly from amzn using ASV/ APAY , buy apay/ agv using infinia

In amzn for Goid coin it is allowing both ASV and AGV.
Remember if you use apay balance , we have to do full purchase using apay balance only, no partial redemption using apay balance.

For example BRL gold coin 999.9 quality is very reliable.
5 gm going at 43k now. Which means 8.6k per gm.
Market rate now is around 7.9k to 8K.

So after infinia CB f buying AGV, you will still be making some small profit..

 

[ak_1978]

Alright, thanks for that. Cheers

 

[ak_1978]

This is closed. Will try and find a way to delete the post. Thanks folks for your inputs!