Amex Gold Charge Card Return% Calculations Worst Case (w/o Bonus MR inc Renewal Fees)

[SSV]

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.

See with you, because of your previous history of 2L spends in one year , we cant really come to a conclusion...
The real test would be, a fresh customer as a GC only holder with 72 k first year spend, it would give some clarity...

 

[jk51]

See with you, because of your previous history of 2L spends in one year , we cant really come to a conclusion...
The real test would be, a fresh customer as a GC only holder with 72 k first year spend, it would give a clarity...

Yes someone whose renewal is nearby can update the same

 

[Pavan]

Yes someone whose renewal is nearby can update the same

They are not giving 10k MR to all best for now is 50% wavier

 

[jk51]

They are not giving 10k MR to all best for now is 50% wavier

Alright. I’ll see what is offered to me this time around renewal.

 

[helloworld]

I have a query regarding Amex Gold Charge Card Return% is the following calculations correct?

1000 * 6 transactions Amazon GV(AGV) purchase = 6000 INR monthly which gives 1000 bonus MR per month
5x multiplier AGV purchase on Amex Rewards Multiplier portal for above 6000 INR transaction - 6000/50 * 5 = 600 MR
Total per month 1600 MR for 6000 INR so 1 year will be 19200 MR for 72000 INR(yearly spend)
Redeeming for 18k Gold Karat Collection you will get at least 6000 INR Amazon Gift Card
So now Return % will be as follows without considering referral bonus and including 4500 INR renewal fee to replicate worst case scenario
Return % = 6000 INR(Amazon Gift Card) / 72000(yearly spend) + 4500(Renewal Fee) = 6000/76500 = 0.0784 * 100 = 7.84%
Are the above calculations correct or am I missing anything here??
Appreciate it if someone could help me on this.

https://www.technofino.in/community/threads/whats-your-gold-charge-retention-offer.14690/

Just in case if useful.

 

[rohitpgarg]

I have a query regarding Amex Gold Charge Card Return% is the following calculations correct?

1000 * 6 transactions Amazon GV(AGV) purchase = 6000 INR monthly which gives 1000 bonus MR per month
5x multiplier AGV purchase on Amex Rewards Multiplier portal for above 6000 INR transaction - 6000/50 * 5 = 600 MR
Total per month 1600 MR for 6000 INR so 1 year will be 19200 MR for 72000 INR(yearly spend)
Redeeming for 18k Gold Karat Collection you will get at least 6000 INR Amazon Gift Card
So now Return % will be as follows without considering referral bonus and including 4500 INR renewal fee to replicate worst case scenario
Return % = 6000 INR(Amazon Gift Card) / 72000(yearly spend) + 4500(Renewal Fee) = 6000/76500 = 0.0784 * 100 = 7.84%
Are the above calculations correct or am I missing anything here??
Appreciate it if someone could help me on this.

The amazon GC is something you get.

Annual fee is something you lose.

So return = (6000-4500+18%GST)/72000

 

[Lobogris]

Question: We've already seen that the APay is superior to the GC. So why would anyone want to have a GC if the renewal fees are not waived/reduced?
At what spend levels are the fees for the GC reduced/waived?

Amex cards are not at all rewarding. A Pay and SBI Cashback would beat them any day and Infinia and DCB are way ahead. At best, people can squeeze out a 2 to 4% return on them after meeting the milestones. They are more about some perceived lifestyle.

 

[Pavan]

After the serious discussion, suggestions by @SSV @helloworld
I have decided to close gold card if they didn't give option of 1500 + GST fees option

 

[SSV]

After the serious discussion, suggestions by @SSV @helloworld
I have decided to close gold card if they didn't give option of 1500 + GST fees option

Correct , no renewal benefits.. no GC ...

 

[sourpai]

Gold charge is such a laborious card. Who will keep doing 6 transactions of 1K every month? I am already fed up doing them on MRCC for 4 times and many times think of skipping. Itna effort kar ke all you get is 6K apay voucher that too after 15-16 months (On MRCC)

 

[amitr29]

I have a query regarding Amex Gold Charge Card Return% is the following calculations correct?

1000 * 6 transactions Amazon GV(AGV) purchase = 6000 INR monthly which gives 1000 bonus MR per month
5x multiplier AGV purchase on Amex Rewards Multiplier portal for above 6000 INR transaction - 6000/50 * 5 = 600 MR
Total per month 1600 MR for 6000 INR so 1 year will be 19200 MR for 72000 INR(yearly spend)
Redeeming for 18k Gold Karat Collection you will get at least 6000 INR Amazon Gift Card
So now Return % will be as follows without considering referral bonus and including 4500 INR renewal fee to replicate worst case scenario
Return % = 6000 INR(Amazon Gift Card) / 72000(yearly spend) + 4500(Renewal Fee) = 6000/76500 = 0.0784 * 100 = 7.84%
Are the above calculations correct or am I missing anything here??
Appreciate it if someone could help me on this.

Not all cards will suit everyone. But somewhere you have missed joining points and also you get points on Fuel and utilities. If you can reach 24,000 points, you get 14000 Taj Vouchers. This only if someone likes to stay in luxury or dine.

You can convert these points at 1.30/ point during Marriott Bonvoy promotional offer and easily get 2 nights free at Domestic or International hotels, which can be easily valued at 12-14k per night.

Also, there are other benefits like regular discounts on FNP, Interflora etc. There is a good amex offer of free services worth 2500 at Truefitt and Hill and also 20% off on IndiGo. You will easily recover your joining cost using these discount offers and promos.

Don't think too much. Even if card can give you value back in joining fees and discount, it's worth it.

 

[arjun697]

Gold charge is such a laborious card. Who will keep doing 6 transactions of 1K every month? I am already fed up doing them on MRCC for 4 times and many times think of skipping. Itna effort kar ke all you get is 6K apay voucher that too after 15-16 months (On MRCC)

Don't the majority do this? 1st day of the month or last day of the month are just for loading 12k into Apay for MRCC and Gold. If it's too much of a hassle, I guess cashback should be better for you. I personally wouldn't use these if my intention was to get more Apay vouchers. It's only for MR points to Mariott, I feel collecting MR point are worth it.

 

[sourpai]

Don't the majority do this? 1st day of the month or last day of the month are just for loading 12k into Apay for MRCC and Gold. If it's too much of a hassle, I guess cashback should be better for you. I personally wouldn't use these if my intention was to get more Apay vouchers. It's only for MR points to Mariott, I feel collecting MR point are worth it.

It is not about cashback cards. I have MB/ Infinia / Plat Travel which give points effortlessly with any number and any value transactions. Even Plat Travel is better as you just need to worry about 4L milestone. 6*1K per month is the only reason I have not got gold charge despite using Plat T and MRCC since last 4-5 years. But I guess I am the only one bringing up this point. Otherwise everyone supports GC wholeheartedly

 

[arjun697]

It is not about cashback cards. I have MB/ Infinia / Plat Travel which give points effortlessly with any number and any value transactions. Even Plat Travel is better as you just need to worry about 4L milestone. 6*1K per month is the only reason I have not got gold charge despite using Plat T and MRCC since last 4-5 years. But I guess I am the only one bringing up this point. Otherwise everyone supports GC wholeheartedly

If you have Infinia/Plat Travel, you clearly don't need to bother about this monthly hassle. I have 3 cards from Amex and SBI Vistara, for me these monthly fixed spends on Apay are the easy way to collect points for 5-10 minutes of work once a month.

 

[glnarayanan]

Personally, I value each point as Rs. 1 since I have started using Marriott properties lately & I'm getting an average value of Rs. 1.1. So I get Rs. 19,200 value against 77,300 annual spend (incl renewal fees), which is a 24.83% return. Pretty good for me & was the primary reason for getting the Gold Charge. I have the Amex Trifecta now - Plat Travel + MRCC + Gold Charge. Everything is optimised for Marriott.

 

[SonyTom]

Not all cards will suit everyone. But somewhere you have missed joining points and also you get points on Fuel and utilities. If you can reach 24,000 points, you get 14000 Taj Vouchers. This only if someone likes to stay in luxury or dine.

You can convert these points at 1.30/ point during Marriott Bonvoy promotional offer and easily get 2 nights free at Domestic or International hotels, which can be easily valued at 12-14k per night.

Also, there are other benefits like regular discounts on FNP, Interflora etc. There is a good amex offer of free services worth 2500 at Truefitt and Hill and also 20% off on IndiGo. You will easily recover your joining cost using these discount offers and promos.

Don't think too much. Even if card can give you value back in joining fees and discount, it's worth it.

When do these Marriott Bonvoy promotional offer generally come when we can convert MR points to Marriott points?

 

[amitr29]

When do these Marriott Bonvoy promotional offer generally come when we can convert MR points to Marriott points?

Mostly end of the year