Doubt on credit card payment to paytm.please he...

Doubt on credit card payment to paytm.please help and clarify.

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Deal Newbie
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Please correct if my understanding is wrong.

I have paytm KYC verified account , suppose I upload 1 lakh RS in the account through a credit card (I will get 2000 points = 1500 RS) , than I can transfer this amount back to bank at 1%. I.e 1000 RS only ? So in this case I saved 500 RS every month and can also waive off credit card annual fees with certain threshold spending.
Please correct me if am wrong in this calculation.

14 Comments  |  
9 Dimers
Dealfinder
Deal Lieutenant
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Deal Captain
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Deal Newbie
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I have some thing wrong kya https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif no one answering every one in shock

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Deal Cadet
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yeah..it is very much possible… but that big amount of transactions can bring you under IT radar….senior dimers can comment!!!

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Deal Newbie
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I am paying sufficient taxes and all is white money.:)

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Deal Lieutenant
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@harsh300684741 wrote:

I am paying sufficient taxes and all is white money.:)


Well that could be done but make sure you use less than 50% of the credit limit as using complete limit will affect ur credit score. Also make sure you have the records of the transactions from you credit card and to your bank account matched in case of IT query.

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Deal Lieutenant
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@harsh300684741 wrote:

I am paying sufficient taxes and all is white money.:)


Paanch so ke liya EK LAKH ka jokhim… https://cdn1.desidime.com/assets/textile-editor/icon_eek.gif Bhandu tum dhanya ho… https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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Deal Newbie
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Sirf 500 nai…1 lakh per SBI home loan account pe approx 1 % interest so 1000 RS hence total 1500 . https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif plus 4999 SBI signature card charges waived off. https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

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Deal Subedar
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do at your own risk

Bal ganesh
Deal Subedar
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Appreciate the out of box legal thinking.
What is Rs1500 CB for adding Rs1lac.

Also note that
The daily limit to transfer money should be maximum of Rs. 5000 and monthly limit will be Rs. 25000.
Also you need to add service tax of 15% on 1% transfer charges.

Break the bottle
Deal Captain
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Deal Lieutenant
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@harsh300684741 wrote:

Sirf 500 nai…1 lakh per SBI home loan account pe approx 1 % interest so 1000 RS hence total 1500 . https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif plus 4999 SBI signature card charges waived off. https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif


Still why come into eyes of authorities? As I see he is planning to do this every month… https://cdn3.desidime.com/assets/textile-editor/icon_surprised.gif

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Deal Newbie
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1500 RS. Is 2000 rewards point spending via cc

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Deal Newbie
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May be not every month only when I am shortfall of hard cash or to waive off credit card fees..:)

Thanks all for your suggestion and help.

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