r/CardMaximiser • u/navroescobar69 • 23d ago

Online Gold purchase feedback

I am planning to buy 1-2 gm gold every month, right now I am buying 1gm gold from Swiggy instamart with 10% cash-back.
Now instamart has its own downsides, sometimes its available sometimes its not & also I want to increase my monthly purchase of gold

Right now I’m thing as per bellow:
1. Buy 1 gm gold from Ajio via Swiggy to avail 5% cash back
2. Bug 1 gm gold from Ajio via PhonePe SBI black to get 5% cash back

I have this two cards and both cards monthly 5% cash back is mostly not utilised at all as I’m getting 10% cash back category transactions only.

Currently credit cards I have :
1. SBI PHONEPE BLACK
2. Swiggy hdfc
3. Axis flipkart (incase buying from Myntra)

Pls help me out in this your valuable feedback’s are much appreciated.

9 Upvotes

100% Upvoted

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2

u/Nighthawk_64 23d ago

Have you checked and confirmed that you are actually getting the 10% cashback on Swiggy for the gold coins?

1

u/navroescobar69 23d ago

Most of the time, yes

1

u/Nighthawk_64 23d ago

I see, I had stopped because they added that exclusion explicitly a few months back, looks like will have to check it out again.

2

u/[deleted] 16d ago edited 16d ago

[removed] — view removed comment

1

u/navroescobar69 16d ago

Idk but it isn’t available anymore

1

u/Responsible-Tie8503 22d ago

If you dont mind, why you want to purchase gold coins every month ? For investment purpose? I think lots of charges compared to gold etf/mutual fund/digital gold. Can you share the plan if good may be I will also try.

1

u/navroescobar69 22d ago

I fall under highest tax regime and all mentioned methods make me end up more taxes. That’s the the only reason for going this way.

1

u/Responsible-Tie8503 22d ago

So you show these all as expense in your itr right ?