Maximize rewards on tax payments with Amex

With recent changes, two great options for earning rewards on tax payments are the Amex Platinum Travel Card and the Amex MRCC (Membership Rewards Credit Card).

Important Notes:

1. The HDFC BizBlack Card, while being more rewarding, is exclusively available to business owners.
2. Tax payments can be made through the Canara Bank portal, which charges a 1% convenience fee for credit card transactions.
3. Amex does not give regular RPs for paying taxes, but does give milestone benefits

Amex Platinum Travel Card

• 40000 RP + 10000 Taj Voucher for spends of 4L
• At Rs 0.50 per point, reward rate is 4% after accounting for convenience fee; Taj Voucher is a bonus
• Welcome benefit of 12000 points against a reduced fee of ₹4130 (including GST) if you apply using referral link

Amex Gold

• 1600 RP for spends of Rs. 6000 (Rs. 1000 * 6) every month
• At Rs 0.50 per point, reward rate is 7.33% after accounting for convenience fee
• While this gives the best rates, this is probably the best way to buy Amazon Pay vouchers too, so there is an opportunity cost to it
• Welcome benefit of 6000 points against a reduced fee of ₹1180 (including GST) if you apply using referral link

Amex MRCC

• 1000 RP for spends of Rs. 20000 (Rs. 5000 * 4) every month
• At Rs 0.50 per point, reward rate is 4% after accounting for convenience fee
• Welcome benefit of 6000 points against a reduced fee of ₹1180 (including GST) if you apply using referral link

Conclusion

Both cards have healthy welcome offer currently through referrals. Platinum Travel is great for a 4L liability - it has a better welcome offer and a Taj voucher too. Else, MRCC can work out better (or both!) There are a few other cards that can work okay (Emeralde Private Metal, HSBC Premier), but they are harder to get and have lower rewards.