[ghodlur]

Originally Posted by TurboTorque

I received an email about new HDFC Bank credit card rules from August 1st, 2024. I am not sure whether these rules apply to all HDFC credit cards or only to the Infinia card.

Also, my infinia card credit limit was increased from 8 lakhs to 11.33 lakhs. Is anyone using an Infinia card to pay rent?

Being an Infinia card holder strangely I am yet to get this email.

In any case, making rent payments using Infinia doesnt make any sense as you dont get any reward points. Uptil now the first rent payment using Red Giraffe was free from any charges and the second rent payment attracted a fee, I can see thats changed now and it will be fee based transaction from the first one itself.

I am using the SBI CV Prime for rent, municipal, tax payments.

[thanixravindran]

Originally Posted by varkey

PayZapp doesn't charge any fee for loading

Net positive, and will also let help in reaching the annual fee waiver threshold .

From August onwards, Payzapp has loading fee of 1.5% on credit cards. Still it will be positive but reduces the reward rate.

[varkey]

Originally Posted by thanixravindran

From August onwards, Payzapp has loading fee of 1.5% on credit cards. Still it will be positive but reduces the reward rate.

Oops! You are right, just checked and they are adding the 1.5% as you said. After including GST, it's 1.77%. Yep, still net positive, but yeah I didn't expect PayZapp to charging so soon.

[pranavjindal999]

Hey folks

I'm planning to purchase Curvv.ev Emp+A (22L ex showroom).
I am planning to buy on Magnus Burgundy, completely on the card.

Here are my calculations:

My cost:
Magnus Burgundy Fees: 30,000 + 18% GST = 35,400
Dealership MDR surcharge (considering 1.5%) = 1.5% of 22,00,000 = 33,000

Return:
12 Edge points per 200 upto 1.5L = 1.5L / 200 * 12 = 9000
35 Edge points per 200 above 1.5L = (22L - 1.5L) / 200 * 35 = 358750

Total points = 9000 + 358750 = 367750

Redemption:
Accor transfer at 5:4 (upto 2L points - Group A) = 2L * 4/5 = 1.6L Accor points

The Accor transfer limit (Group A) will reset in Jan, 2025 (it is 2L per calendar year for Magnus burgundy)
So I can transfer the rest of the points (1.67L) in Jan, 2025

Rest points 1.67L * 4/5 = 1.34L Accor points

Total Accor points by Jan 2025 = 1.6L + 1.34L = 2.94L
Each Accor point approximately has a value of ₹1.8
So, 2.94L * 1.8 = ₹5,29,200

So basically, I can book Accor hotels worth approx ₹5.3L by Jan 2025.
My cost = 35,400 + 33,000 = ₹68,400

So, I'm getting a return of ₹5,29,200 - ₹68,400 = ₹4,60,800

Please let me know if my calculations are correct.
This seems like a really good return rate.
Also, please let me know if I'm missing anything or any terms and conditions that I should be aware of.
Thanks in advance.

[SourPai]

Originally Posted by pranavjindal999

Please let me know if my calculations are correct.
This seems like a really good return rate.
Also, please let me know if I'm missing anything or any terms and conditions that I should be aware of.
Thanks in advance.

Please verify the MCC of transaction by doing small transaction first to ensure that you will actually get reward points. Sometimes dealers use PoS machines registered with insurance MCC (since they sell insurance also). In such cases, you will not get any reward points

Saying this since you are planning to pay the fees and get Magnus burgundy for this purpose. Also do check if you will get MB. I heard that Axis is not easily giving this card even with fees now

[pranavjindal999]

Originally Posted by SourPai

Saying this since you are planning to pay the fees and get Magnus burgundy for this purpose. Also do check if you will get MB. I heard that Axis is not easily giving this card even with fees now

Yes that I plan to do that. I visited the local axis branch and they seemed to be confident in providing the card.

[subho10]

Originally Posted by pranavjindal999

Return:
12 Edge points per 200 upto 1.5L = 1.5L / 200 * 12 = 9000
35 Edge points per 200 above 1.5L = (22L - 1.5L) / 200 * 35 = 358750

Total points = 9000 + 358750 = 367750

There may be a per day/month limit on max Edge points that can be earned. Get that checked

[vinu_h]

Originally Posted by pranavjindal999

Hey folks

I'm planning to purchase Curvv.ev Emp+A (22L ex showroom).
I am planning to buy on Magnus Burgundy, completely on the card.

Originally Posted by SourPai

Please verify the MCC of transaction by doing small transaction first to ensure that you will actually get reward points. Sometimes dealers use PoS machines registered with insurance MCC (since they sell insurance also). In such cases, you will not get any reward points

Saying this since you are planning to pay the fees and get Magnus burgundy for this purpose. Also do check if you will get MB. I heard that Axis is not easily giving this card even with fees now

You can also remove permissions for domestic transactions, let the transaction fail and thereafter ask the MCC from the call center for the failed transaction.

[Highh5]

Originally Posted by pranavjindal999

Hey folks

I'm planning to purchase Curvv.ev Emp+A (22L ex showroom).
I am planning to buy on Magnus Burgundy, completely on the card.

Here are my calculations:

Total Accor points by Jan 2025 = 1.6L + 1.34L = 2.94L
Each Accor point approximately has a value of ₹1.8
So, 2.94L * 1.8 = ₹5,29,200

So basically, I can book Accor hotels worth approx ₹5.3L by Jan 2025.
My cost = 35,400 + 33,000 = ₹68,400

So, I'm getting a return of ₹5,29,200 - ₹68,400 = ₹4,60,800

Just check the credit limit, or else you can break the transaction into multiple parts if delivery of the vehicle takes time. Axis is going heavy on many accounts and blocking them if they feel that you are using them for business expenses and not for personal use. Keep the receipts handy in that scenario. They straight away suspend the account without giving any notifications.
So as soon as you get the points credited, transfer asap. You can also try to transfer the points in ITC Green points, they have great hotels in India which Accor lacks largely barring a few if you are considering taking a vacation in India.

I recently blocked ITC Grand Goa with 11000 ITC Green points for which the revenue rate was 20k per night. So, I see great value in redeeming ER against the ITC chain within India.

[pranavjindal999]

Originally Posted by SourPai

Please verify the MCC of transaction by doing small transaction first to ensure that you will actually get reward points. Sometimes dealers use PoS machines registered with insurance MCC (since they sell insurance also). In such cases, you will not get any reward points

Saying this since you are planning to pay the fees and get Magnus burgundy for this purpose. Also do check if you will get MB. I heard that Axis is not easily giving this card even with fees now

Originally Posted by Highh5

Just check the credit limit, or else you can break the transaction into multiple parts if delivery of the vehicle takes time. Axis is going heavy on many accounts and blocking them if they feel that you are using them for business expenses and not for personal use. Keep the receipts handy in that scenario. They straight away suspend the account without giving any notifications.
So as soon as you get the points credited, transfer asap. You can also try to transfer the points in ITC Green points, they have great hotels in India which Accor lacks largely barring a few if you are considering taking a vacation in India.

I recently blocked ITC Grand Goa with 11000 ITC Green points for which the revenue rate was 20k per night. So, I see great value in redeeming ER against the ITC chain within India.

Thanks for the advice.
I would have to break it into multiple parts.. they wont give that limit. but manageable.
Regarding that, would it be an issue if I buy car in name of my wife while the car is mine?

[Highh5]

Originally Posted by pranavjindal999

Thanks for the advice.
Regarding that, would it be an issue if I buy car in name of my wife while the car is mine?

Should not be an issue according to me. But axis being axis, I have trust issues with them.

[itwasntme]

Had an ancient Citibank Rewards card which got converted into a Axis card. Any suggestions if I can upgrade/change to a card that allows for domestic and international lounge access? Spend is ~50K monthly.

[VtechSupreme]

Originally Posted by Ragavsr

If you had an amex and have a decent credit score abroad, amex has a program where you will be able to get a card in India as well. Other banks will not give you good cards even if you qualify income wise without a credit history.

Explored this option and realised that I don't have high enough retail spending to justify the annual fee of their cards. Thinking of another way I can get myself a good credit card. A lil frustrated now, I was able to get an Amex as my first card in the states, but the banks here won't give me a card unless I park a big sum of money into an FD or savings account for a simple cash back card even though I meet their income criteria.

[SourPai]

Originally Posted by VtechSupreme

Explored this option and realised that I don't have high enough retail spending to justify the annual fee of their cards. Thinking of another way I can get myself a good credit card. A lil frustrated now, I was able to get an Amex as my first card in the states, but the banks here won't give me a card unless I park a big sum of money into an FD or savings account for a simple cash back card even though I meet their income criteria.

I think you can easily get ICICI Amazon Pay credit card. You also have ICICI account. Have you tried applying via Amazon app? It is LTF also

You can also explore an option to Axis account. Axis starts giving pre approved offers in net banking after 2-3 months of opening an account

[arindam.dino]

Upcoming Building maintenance, which card?