Ok. I made a fool of myself!
I would have 5310 cash in hand and 1440 Amazon GC. Which is better than 6336 Amazon GC
I'm an idiot!
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Amex Gold Charge Card Return% Calculations Worst Case (w/o Bonus MR inc Renewal Fees)
- Thread starter cardzo
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I would have 5310 cash in hand and 1440 Amazon GC. Which is better than 6336 Amazon GC
I'm an idiot!
Whenever money is involoved, especially on a regular basis, we should think like buisness only..
Think from the angle that your are doing a "CC spending business" ...
Thanks @SSV
So that means the reward rate mentioned in the link below is not correct?
AMEX Gold Charge Card Review
Editor’s note: This is a recurring post, regularly updated with new information and offers. Last Updated 10th July 2023. American Express has finally started issuing cards since they were put under an embargo by the RBI. Their most sought entry-level card other than the AMEX Membership Rewards...www.technofino.in
Before we go further did you understand the difference between capital expenditure and regular expenditure in my example?
Do you agree with my statements?
Very well noted
Okay, Coming back to your original question, which prompted all this discussion...
I hope you got your answers.....
I really liked this post.. you know why...
Correcting and accepting the mistakes and living in the reality...
All of us do mistakes and a very very few accepts them . Instead they go on and on and on in loops in defending their mistakes / lies etc...
It is just waste of life ..
Instead , it is much better to accpet it and move on ....
Good ON you mate ... well done...
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I will answer in a very simple way... If you reddem it for better redemption options then it is useful.. if your redemption option is only GOld Collection , with no renewal benefit it is not a great card at all... I dont want to go into detailed calcs as I already spent more time on this topic.
1.51 % . . on spending 72K per year ..
It came down to ACE
This is assuming no renewal benefit...
If you get any sort of renewal benefit your rate of retrun jumps up considerably ..
But I don't know how much fee waiver you will get on 72K annual spends...
I guess very less, if any...
Now returns with joining benefits + joining fee waiver via referral for first year (BEST CASE SCENARIO exluding referrals made)
(May 9)
Current Fee: 1180/-
Current benefit: 4000 MR + 2000 MR = 6000 MR
Spends: 6000/- × 12 = 72000/-
Rewards: 1600 MR × 12 = 19200 MR
Value of rewards via gold collection apay: 25200 MR × 1/3 = 8400/-
Effective return: (8400-1180)/72000 = 7220/72000 = 10.0278%
(May 9)
Current Fee: 1180/-
Current benefit: 4000 MR + 2000 MR = 6000 MR
Spends: 6000/- × 12 = 72000/-
Rewards: 1600 MR × 12 = 19200 MR
Value of rewards via gold collection apay: 25200 MR × 1/3 = 8400/-
Effective return: (8400-1180)/72000 = 7220/72000 = 10.0278%
Front 2nd year onwards?
How much you would expecting renewal feecwaiver on 72 k annual spends ??
Very good. I like your clarity..
There are only two spend levels which I feel yields the best returns on this card
Either 72,000/- (and then negotiating MR points against fee payment) 6% net in this case
Or
=>2 lacs (2,40,000 to be exact and then negotiating MR points against fee payment) 4.16% net in this case. This has become a bit difficult post Apay voucher capping of 10k per account.
Realistically how many MR points you get for fee payment against 72k previous spends?
Any idea with your previous experience?
I received 12.5k last year on 72,000 spends. And year before that had spend more than 2 lac hence was given two options 1. To spend 1.2 lac in next 3 months for complete waiver and 2. To pay 1500+tax
Chose the second option. Many within peers have been given at least 10k MR points at on 72,000/- annual spends (in one case it was 60,000/-) so safe to assume the range of 10-12.5k of range. Shall see what is offered this year. I believe it’s a decent card till any decent renewal/retention benefit is offered.
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