Hot Deal Help me maximise my credit card spend rewards.

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Deal Cadet
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Hi Dimers,

I have the following cards and I need expert opinion from the community,

What cards to keep? and use it for what to maximise the benefits. Thanks in advance for your help grin

1. HDFC Regalia First – LTF
2. SBI Simply Click
3. AmEx MRCC
4. AmEx Simply Earn – LTF based on MRCC
5. ICICI Amazon Pay – LTF
6. CITI Cashback
7. CITI Rewards
8. HSBC Visa Platinum – LTF
9. IndusInd Platinum – LTF
10. Kotak League Platinum – LTF
11. YES Prosperity Edge (upgradeable to Premia) – LTF
12. Flipkart Axis
13. SCB Landmark Rewards – LTF
14. SCB Super Value Titanium – LTF
15. RBL Platinum Maxima – LTF

My expenditure per month.

1. Petrol – 2000 to 2500.
2. Utility – 500-800 ( Electricity)
3. Grocery – ~4000. I get meal card from ZETA. Which is 2200. So not sure if to continue to keep getting the meal card as tax free or to switch over to CC for maximum benefit.
4. Medicine – ~3000.
5. Insurance around 54000 annually.
6. ULIP around 50000 annually.
7. Rent – ~8000. ( I know about those rent payment portals so any assistance is welcome if I can save there as well)

I mainly shop from Amazon, like 90% is Amazon. Recharges , bill payment etc. Even use it whenever Amazon pay is accepted. Flipkart also remaining 10%.

Apart from these spends there are travel expenses which I do sometimes based on offers available.

Points to note: I try to get the bonus from AmEx MRCC card by doing 4*1000 transactions. Since I feel this is a great value for money deal. Then Ii favour SBI to get the Amazon gift card through redemption. Next comes Amazon pay card.  Use local Supermarkets for Grocery shopping. Plus I live in a big city where digital payment is available even in small roadside vendor So I can use these credit cards to the very end.

Credit card payments are done through either Cred or mobikwik or other channels
I Have HDFC TITANIUM debit card

I know the post is a long one, but would really appreciate if you can help me with this please weary

80 Comments  |  
25 Dimers
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Critic
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Can’t give any suggestions about this but will suggest to change that 50k annual ulip investment to a large cap MF & I hope you have a term insurance of at least 1cr incl in your 54k annual insurance spend.

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Deal Cadet
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guest_999 wrote:

Can’t give any suggestions about this but will suggest to change that 50k annual ulip investment to a large cap MF & I hope you have a term insurance of at least 1cr incl in your 54k annual insurance spend.

It’s purely LIC pushed upon me by relatives. If I close it now will I get some money atleast ?

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Entertainer
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A.M.A.Z.O wrote:

It’s purely LIC pushed upon me by relatives. If I close it now will I get some money atleast ?

Now do the same push that relative from cliff.
One of mine bugging me for health insurance😠😠

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Deal Cadet
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P_A_N_K_A_J wrote:

Now do the same push that relative from cliff.
One of mine bugging me for health insurance😠😠

He is close relative from my mom’s side bro so couldn’t deny it that time confounded confounded. But now serious about my money and don’t want it get wasted like in Life Insurance but rather invest like in Term Insurance.

What percent will you get if you paid for more than 5 years if you are cancelling it ?

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Critic
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A.M.A.Z.O wrote:

It’s purely LIC pushed upon me by relatives. If I close it now will I get some money atleast ?

Same old story,know many who got their LIC policy solely because of some relative.

You will have to pay some penalty so read the terms & conditions(another thing which most people neglect when taking a policy).

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Deal Cadet
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guest_999 wrote:

Same old story,know many who got their LIC policy solely because of some relative.

You will have to pay some penalty so read the terms & conditions(another thing which most people neglect when taking a policy).

Thanks bro sweat

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Critic
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A.M.A.Z.O wrote:

He is close relative from my mom’s side bro so couldn’t deny it that time confounded confounded. But now serious about my money and don’t want it get wasted like in Life Insurance but rather invest like in Term Insurance.

What percent will you get if you paid for more than 5 years if you are cancelling it ?

Just to be clear,term insurance is not investment. You won’t get anything if thankfully nothing happens to you during the policy duration but this is why it is the best & recommended by experts because it is “real insurance” compared to ULIPs & such. Never mix insurance with investment,you will lose on both fronts because nothing beats real insurance/term insurance & 100% investment options like MFs.

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Deal Cadet
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Wow, you’ve got them all. I bet you don’t miss out any offers. smiling_imp
Most of your cards are LTF, I wouldn’t plan to close any account. I understand it affects your credit score.
Although I’m interested to know, how many years did you build this CC portfolio in?
Has it affected your credit history to open so many accounts.
I opted for 4 new cards in the past year haven’t missed a single payment. Most of them stay under 50% utilisation of the credit limit. But my credit score has come down from 811 to 771. I searched and one of the reasons was that opening new accounts makes you credit hungry which is a negative score.

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Deal Cadet
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If you shop max on amazon, I would use the HDFC card for 10x via smartbuy website. Once you maximize the benefit there you could use amazon APAY.
Note: no 10x on recharges and billpay on amazon.

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Deal Cadet
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So If I want to buy something I can pm u right?

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Deal Cadet
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kurk wrote:

Wow, you’ve got them all. I bet you don’t miss out any offers. smiling_imp
Most of your cards are LTF, I wouldn’t plan to close any account. I understand it affects your credit score.
Although I’m interested to know, how many years did you build this CC portfolio in?
Has it affected your credit history to open so many accounts.
I opted for 4 new cards in the past year haven’t missed a single payment. Most of them stay under 50% utilisation of the credit limit. But my credit score has come down from 811 to 771. I searched and one of the reasons was that opening new accounts makes you credit hungry which is a negative score.

I have built my account from last 8 years plus. Yes for each hard enquiry , you will lose points.

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Deal Cadet
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Harish.agarwal wrote:

So If I want to buy something I can pm u right?

Sure , as long as you pay for it grin

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Deal Cadet
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Rent – ~8000. ( I know about those rent payment portals so any assistance is welcome if I can save there as well)

you can use paymatrix or nobroker

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Deal Newbie
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@A.M.A.Z.O how u got sc super value card as LTF? I hold landmark as ltf but sc svt showing anual fee in website will be weived off only by spending some amount. i am getting mails saying pre approved for sc svt but no where mentioned as ltf. please help

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Deal Newbie
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@A.M.A.Z.O how can you upgrade to yes premia from edge card? i never offered any upgrade from 3 years.i dont see any upgrade option in website. did u get any call from cust care or message from bank for upgrade?

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Deal Cadet
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desisam wrote:

Rent – ~8000. ( I know about those rent payment portals so any assistance is welcome if I can save there as well)

you can use paymatrix or nobroker

Which one I can use to maximise reward points earnings brother ? I know payzap and the regalia plus rent earning 10%+5% ??

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dinesh4ever wrote:

@A.M.A.Z.O how u got sc super value card as LTF? I hold landmark as ltf but sc svt showing anual fee in website will be weived off only by spending some amount. i am getting mails saying pre approved for sc svt but no where mentioned as ltf. please help

My CIBIL is 893. Maybe that helps ?

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dinesh4ever wrote:

@A.M.A.Z.O how can you upgrade to yes premia from edge card? i never offered any upgrade from 3 years.i dont see any upgrade option in website. did u get any call from cust care or message from bank for upgrade?

Got a message bro.. see below 

https://cdn0.desidime.com/attachments/photos/602487/original/20200116_132919.jpg?1579161585

Also YES has my highest limit at 10 lakh. Plus my CIBIL is 893.

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Deal Lieutenant
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A.M.A.Z.O wrote:

Got a message bro.. see below 

https://cdn0.desidime.com/attachments/photos/602487/original/20200116_132919.jpg?1579161585

Also YES has my highest limit at 10 lakh. Plus my CIBIL is 893.

Are you sure it’s Cibil and not experian, cibil is not that generous.

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AnnamalaiNryaa wrote:

Are you sure it’s Cibil and not experienced, cibil not that generous.

Oh sorry, confused.. My score as follows

Experian : 893
Equifax : 723
CRIF : 713
CIBIL : 783

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Community Angel
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kurk wrote:

Wow, you’ve got them all. I bet you don’t miss out any offers. smiling_imp
Most of your cards are LTF, I wouldn’t plan to close any account. I understand it affects your credit score.
Although I’m interested to know, how many years did you build this CC portfolio in?
Has it affected your credit history to open so many accounts.
I opted for 4 new cards in the past year haven’t missed a single payment. Most of them stay under 50% utilisation of the credit limit. But my credit score has come down from 811 to 771. I searched and one of the reasons was that opening new accounts makes you credit hungry which is a negative score.

Keep utilization below 30%.

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Community Angel
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Upgrade Ragalia First to Ragalia OR Diners Club Black(DCB).
DCB gives 10× RP (= 33%) for smartbuy & special partner transactions.

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Community Angel
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SBI Simply Click & AmEx MRCC – Both are very useful.
Amex MRCC – Use for 4×1000 TXN every month.

Simply Click – 2.5% CB for special partners TXNs & 1.25% CB for Online TXNs.

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Deal Subedar
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dinesh4ever wrote:

@A.M.A.Z.O how can you upgrade to yes premia from edge card? i never offered any upgrade from 3 years.i dont see any upgrade option in website. did u get any call from cust care or message from bank for upgrade?

If ur eligible for premia as per their reduced salary amount, do mail them. I mailed them, they called for confirmation & then upgraded to premia…

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Community Angel
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For Grocery –
1. SCB Manhattan CC – 5% CB at Supermarkets.

Annual Fees = 999 + GST

https://www.sc.com/in/credit-cards/manhattan-pl...


2. Kotak Essentia CC – 10% CB at Departmental & Grocery stores.

  • Joining fees: Rs 1499 + GST
  • Annual fees: Rs 749 + GST (2nd year onwards non-waiverable).

Rewards

  • 10 saving points on every Rs 100 you spend on Departmental & Grocery stores. (=10% CB)
  • Minimum spends: Rs.1500 and Maximum Spends: Rs.4000 per transaction.
  • Maximum saving points for grocery per month is capped at 500 Points.
  • 1 saving points on every Rs 250 you spend at other categories without any restrictions. (Reward Rate: 0.4%)
  • 1 Saving point = Rs. 1
  • Milestone Benefit: Spend Rs. 1,25,000 every 6 months and get 1200 Reward Points.
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