Skip to main content

One post tagged with "amex"

View All Tags

Maximize rewards on tax payments with Amex

· 2 min read

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 Rs. 1000 if you apply using referral link (without referral, you get 10000 points against a fee of Rs. 5000)

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 Rs. 1000 if you apply using referral link (without referral, you get 4000 points against a fee of Rs. 5000)

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.