How can I show high credit card usage?

How can I show high credit card usage?

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Hi,

Mine is a weird situation. My monthly credit card usage is around 15000 but I need to increase it to 60000 per month. The reason for this is that if I show a high usage on the card, the bank will give me the card that I actually want (a much better card than what I have now). The credit limit is sufficiently high on the current card. I have found one way of increasing the usage on the card – by paying the house rent with it. But that will make the usage 30000 only. What are some other ways in which I can show increased usage on the card? I only need to do this for a few months until I get the better card. And I always pay the bills in full.

Thanks

33 Comments  |  
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Deal Captain
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Pay for your friends/relatives shopping online or for bills.

Order in-demand products like RN5 Pro and sell it on OLX at cost, pay the money back to card

Add money to e-wallets that have 0% charge to transfer the money back to account

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raghupro wrote:

Pay for your friends/relatives shopping online or for bills.

Order in-demand products like RN5 Pro and sell it on OLX at cost, pay the money back to card

Add money to e-wallets that have 0% charge to transfer the money back to account

Which e-wallet allows transfer to bank with 0% charge? As far as I know, Paytm charges 3%.

Tenor %281%29
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behemoth wrote:

Which e-wallet allows transfer to bank with 0% charge? As far as I know, Paytm charges 3%.

This is the main agenda of the topic. (arising from a different question)

You ignored other options and stuck to the e wallet thing. smile sunglasses

My suggestion is that if you have to do it for few months, than do shopping. buy something for your wife/GF. Take your parents for a nice dinner. Book flight for your much awaited trip.

by this way, you’r spends will be diversified and chances of upgrade are higher than if you do that transfer to bank via ewallet.

this is your economy. Use it wisely.

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Bhalla_here wrote:

This is the main agenda of the topic. (arising from a different question)

You ignored other options and stuck to the e wallet thing. smile sunglasses

My suggestion is that if you have to do it for few months, than do shopping. buy something for your wife/GF. Take your parents for a nice dinner. Book flight for your much awaited trip.

by this way, you’r spends will be diversified and chances of upgrade are higher than if you do that transfer to bank via ewallet.

this is your economy. Use it wisely.

I ignored the other options because they dont make much sense to me. I try as much as possible not to lend money to others as it seldom comes back. And flipping on OLX is too much work. Shopping is a waste of money. The easiest option is the e-wallet thing. I use my money very wisely hence the want for that better credit card which gives awesome rewards.

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Make sure you’re ready to file ITR as if you start paying for your friends and family bills to get the credit card you want, you’ll cross above 250k in an yearly credit card usage, the bank will have to report your details to IT department and if you’re not paying IT, you’ll get compliance notice.

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rv2012 wrote:

Make sure you’re ready to file ITR as if you start paying for your friends and family bills to get the credit card you want, you’ll cross above 250k in an yearly credit card usage, the bank will have to report your details to IT department and if you’re not paying IT, you’ll get compliance notice.

I find it hard to believe he is not paying tax and filing itr already… If he is applying for a premium card I am 99.99999% sure he is a legal citizen paying taxes on time… Aka salaried class like me grin

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rv2012 wrote:

Make sure you’re ready to file ITR as if you start paying for your friends and family bills to get the credit card you want, you’ll cross above 250k in an yearly credit card usage, the bank will have to report your details to IT department and if you’re not paying IT, you’ll get compliance notice.

Have a question on similar limes..
Suppose I lend my card(s) to a friend who uses 50K of cc limit for his monthly bills and later transfers the same amount to my bank account for credit card bills payment, will it still be a problem..? Assuming this can be easily shown and tracked through the transactions chain.

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Whats the name of that awesome credit card? surprised

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msankadi wrote:

I find it hard to believe he is not paying tax and filing itr already… If he is applying for a premium card I am 99.99999% sure he is a legal citizen paying taxes on time… Aka salaried class like me grin

Sahi pakde hain smile

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I’m thinking of paying rent to my mom’s bank account using the credit card. She will then directly pay my card outstanding from that amount. This will cost me around 300 per month.

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behemoth wrote:

I ignored the other options because they dont make much sense to me. I try as much as possible not to lend money to others as it seldom comes back. And flipping on OLX is too much work. Shopping is a waste of money. The easiest option is the e-wallet thing. I use my money very wisely hence the want for that better credit card which gives awesome rewards.

flushed If you don’t spend that much money to earn good rewards than whats use in upgrading to other better cards. You said shopping is waste. grinning
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Cody wrote:
flushed If you don’t spend that much money to earn good rewards than whats use in upgrading to other better cards. You said shopping is waste. grinning

Correction – Regular shopping like clothes etc is a waste for me.

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rv2012 wrote:

Make sure you’re ready to file ITR as if you start paying for your friends and family bills to get the credit card you want, you’ll cross above 250k in an yearly credit card usage, the bank will have to report your details to IT department and if you’re not paying IT, you’ll get compliance notice.

Incorrect/incomplete information

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Find some contacts on petrol pump, swipe the card and take the cash. One of my friend did this and took 15k cash.

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rv2012 wrote:

Make sure you’re ready to file ITR as if you start paying for your friends and family bills to get the credit card you want, you’ll cross above 250k in an yearly credit card usage, the bank will have to report your details to IT department and if you’re not paying IT, you’ll get compliance notice.

Whats this 250k thing? I already crossed 250k in last 4 months itself. :/

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Is there a way to transfer my money which is stuck in PayZap to bank without any charges via any other source by using the PayZap virtual card
Pls msg me…. TIA

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How to pay rent through Credit Card ? confused

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bookface wrote:

Whats this 250k thing? I already crossed 250k in last 4 months itself. :/

Well its not 250k (2.5l).
Its 1000k (10L)

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dev007 wrote:

Have a question on similar limes..
Suppose I lend my card(s) to a friend who uses 50K of cc limit for his monthly bills and later transfers the same amount to my bank account for credit card bills payment, will it still be a problem..? Assuming this can be easily shown and tracked through the transactions chain.

Yes it’ll be. Keep it below 50k. Even ₹49,999 is good enough. 50k or above transactions are in terms to report though bank usually skip it but why take risk?

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bookface wrote:

Whats this 250k thing? I already crossed 250k in last 4 months itself. :/

2.5L and above spending will be reported to ITR. If you’re paying taxes, you don’t need to worry. Some people I know show income as 1-2L PA and spend above 2.5L via cc, they are the one who will be in trouble.

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Bhalla_here wrote:

Incorrect/incomplete information

How about you make it correct? Even Google it and correct me. smile

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msankadi wrote:

I find it hard to believe he is not paying tax and filing itr already… If he is applying for a premium card I am 99.99999% sure he is a legal citizen paying taxes on time… Aka salaried class like me grin

You seems to misunderstand my point. See my example above. People spend above 250k via cc and show income as 100-200k.

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Bhalla_here wrote:

Here you go sir:

https://www.incometaxindia.gov.in/Tutorials/40....

@rpal

That’s not for credit card ‘sir’.

Check AIR-002 doc or com notice. Anything paid Rs. 2,00,000 or more against Credit Card Bills relates to your credit card spending are reported to complaince and if you’re not paying tax or income not taxable, below 200k etc you’ll get notice.

A simple Google search for credit card ITR will help.

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rv2012 wrote:

That’s not for credit card ‘sir’.

Check AIR-002 doc or com notice. Anything paid Rs. 2,00,000 or more against Credit Card Bills relates to your credit card spending are reported to complaince and if you’re not paying tax or income not taxable, below 200k etc you’ll get notice.

A simple Google search for credit card ITR will help.

here is the snip from the same document i shared:

4. Payments made by any person of an amount
aggregating to—
(i) Rs. 1 lakh or more in cash; or
(ii) Rs. 10 lakh or more by any other mode,
against bills raised in respect of one or more credit
cards issued to that person, in a financial year.

reporting person-
A banking company or a cooperative
bank or any other company
or institution issuing credit card.

the same limit fo 10L was previously 2.5L

Also, Check the following rule 114E
https://www.incometaxindia.gov.in/Pages/rules/i...

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Bhalla_here wrote:

here is the snip from the same document i shared:

4. Payments made by any person of an amount
aggregating to—
(i) Rs. 1 lakh or more in cash; or
(ii) Rs. 10 lakh or more by any other mode,
against bills raised in respect of one or more credit
cards issued to that person, in a financial year.

reporting person-
A banking company or a cooperative
bank or any other company
or institution issuing credit card.

the same limit fo 10L was previously 2.5L

Also, Check the following rule 114E
https://www.incometaxindia.gov.in/Pages/rules/i...

You really don’t understand. If you’re paying tax, you’re not bound to get complaince notification on cc limit of 200-250k and the above doc of 10L is perfectly fitted for that scenario.

If you’re not filing ITR or your income is not taxable when you file ITR, you’ll be reported to ITR if the cc shopping crosses above the mentioned limit as I said earlier. Check the complaince notice AIR-002. I knew few who got that notice cause of spending above 200k.

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rv2012 wrote:

You really don’t understand. If you’re paying tax, you’re not bound to get complaince notification on cc limit of 200-250k and the above doc of 10L is perfectly fitted for that scenario.

If you’re not filing ITR or your income is not taxable when you file ITR, you’ll be reported to ITR if the cc shopping crosses above the mentioned limit as I said earlier. Check the complaince notice AIR-002. I knew few who got that notice cause of spending above 200k.

Reference to IT act or rule or section?

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