Usage of credit card

131°
Missing
Deal Cadet
61
132
3

Hi,
What is the best way to spend using credit card, preferably American Express credit card?
I mean if someone needs to meet minimum limit of 1 lakh then where all can he spend with least loss ?

For eg: one way could be to add it to Paytm wallet → transfer it to bank → transfer back to the credit card.
But this would incur 3-4 % charge from PayTm !!

So are there any other ways we can meet the minimum limit of a credit card with lowest or nil charges ??

24 Comments  |  
14 Dimers
Missing
Deal Cadet
61
132
3

or else it would be really helpful if you people can share the ways you people use your credit card.

One such way is to pay insurance premiums.

Missing
Deal Newbie
56
80
0

nowadays every shop,hotel, hospital,online shopping…etc having swipe machine… use ur credit card there. why u want to transfer to another account ? confused

Missing
Deal Cadet
61
132
3
abhijith143 wrote:

nowadays every shop,hotel, hospital,online shopping…etc having swipe machine… use ur credit card there. why u want to transfer to another account ? confused

But with these… I can’t meet the limit of 1 lakh in 1-2 months.

Missing
Deal Subedar
246
1945
22
Expand
gautam2usa226 wrote:

It’s lifetime free card.

If you need to spend 1 Lakh to waive off your annual fee, then it never was a LTF smile

Missing
Deal Subedar
246
1945
22
Expand
gautam2usa226 wrote:

But with these… I can’t meet the limit of 1 lakh in 1-2 months.

How about paying rent for yourself or your friends and neighbours using your credit card..?

Missing
Deal Cadet
86
675
21

Add amazon pay balance 5k a month, you get 5x rewards, use ap to pay your bills etc
If directly cant add balance from amex, buy gc and add it to your account

Missing
Deal Cadet
61
132
3
Expand
dev007 wrote:

If you need to spend 1 Lakh to waive off your annual fee, then it never was a LTF smile

Sorry mate…. but you are deviating the discussion. The card is LTF only…. the 1 lakh limit is to get additional offers.
But irrespective of whether it’s LTF or not…. I just asked ways to utilize Amex credit card to meet a limit of at least 1 lakh.
Certainly I can’t book unnecessary hotels and all those just to get a offer from bank.
So thought of finding out all the smart ways that others adopt.

Missing
Deal Cadet
61
132
3
Expand
dev007 wrote:

How about paying rent for yourself or your friends and neighbours using your credit card..?

How can I pay rent through a credit card ??

Missing
Deal Subedar
246
1945
22
Expand
gautam2usa226 wrote:

How can I pay rent through a credit card ??

Through Redgiraffe, though there is the hassle of some processes and some txn charges

Missing
Deal Subedar
110
1657
96

Investment in NPS can be done through amex with 0.9% charges, if reward is great this can be done…

Missing
Deal Cadet
74
130
1
gautam2usa226 wrote:

or else it would be really helpful if you people can share the ways you people use your credit card.

One such way is to pay insurance premiums.

Catch people who want to pay insurance premium. Take money from them and pay on their behalf. Paytm accepts LIC payment at no additional charge.

Missing
Deal Subedar
0
1218
11
gautam2usa226 wrote:

or else it would be really helpful if you people can share the ways you people use your credit card.

One such way is to pay insurance premiums.

pay to some merchant that accepts paytm they generally would give cash for 2% as it is free for them.
or you can open your own paytm merchant account than use another paytm account to add money by credit card and pay to your merchant account, you will get money back in bank next day.

Missing
Deal Newbie
50
20
0

Pay your or friend’s house rent via NoBroker app. They charge a processing fee of rs.99. If your rent is at-least 8, 000 p.m, you can cross the 1 lakh spending amount limit (considering that u make other purchases worth 4K in one year). Btw, on making 4 transactions worth 1K or more, u get 1000 additional bonus points on Amex (every month), so u can top up ur Paytm wallet worth 4K every-month, which u can use to pay ur bills/movie tickets/flight booking etc. This itself will enable u to spend 48K in 1 year.

Missing
Deal Cadet
94
294
1
drjpatwa wrote:

Investment in NPS can be done through amex with 0.9% charges, if reward is great this can be done…

Amex doesn’t provide rewards points for. Nps payments. Not sure about bonus rewards or spends based vouchers

Missing
Deal Cadet
122
422
6
drjpatwa wrote:

Investment in NPS can be done through amex with 0.9% charges, if reward is great this can be done…

I don’t see karvy allowing Amex? Who is allowing it?

Missing
Blogger
0
1965
55
Expand
sainiks17 wrote:

Amex doesn’t provide rewards points for. Nps payments. Not sure about bonus rewards or spends based vouchers

Axis Flipkart is providing 1.5% cashback on nps. I confirm.

Missing
Deal Cadet
122
422
6
drjpatwa wrote:

Investment in NPS can be done through amex with 0.9% charges, if reward is great this can be done…

Karvy not allowing Amex. Have you recently checked if nsdl allows Amex?

Missing
Deal Subedar
149
1998
35
Expand
dev007 wrote:

Through Redgiraffe, though there is the hassle of some processes and some txn charges

RedGiraffe won’t support AMEX cards AFAIK rolleyes

Missing