Only Premium & Super Premium Cards Discussion

[kkk]

Hi,

Few of the things that I have been using to reach Axis Magnus milestone, BoB Eterna monthly rewards and RuPay card to bank.

1) Axis Milestone, BoB Eterna and Amex(spend based offers). I use a platform named Falcon Invoices(It's mainly for invoice discounting). Here we gets Invoice discounting deals ranging from 30-180 days which gives return from 10% to 21%. Please note this is a risky platform. I have being using this platform since more than a year. It accepts credit card for investment without any fees. I typically buy a deal of 45 days just after bill generate and pay the bill once the deal is paid out. So, far I have invested > 30lakhs on this platform and so far not faced any issue(This is not investment advice). BoB Eterna card gives 3.75% rewards. And Axis gives normal 12 points / 200 plus it is considered for monthly milestone. Category comes under Miscellaneous.

Axis Magnus statement-



BoB Eterna statement -



My investment on Falcon -







2. Rupay CC to bank
While there are many tricks to use Rupay credit card to pay credit card bills. I can give two ways through which we can transfer Rupay credit card amount to Bank
i) There is an app named TradeCred(which is also for Invoice discounting). In this you can add money using UPI. So chose BHIM and add money in their wallet. Once Tradecred wallet is loaded, just transfer it to bank. The whole process takes 2-3 hours as they use NEFT to transfer money from their wallet to bank.
ii) Most of you might be using FI app. You can also add money using UPI in FI. Once you chose UPI then chose BHIM and proceed.

This might not be useful to many. The reason I follow above is I get some reward on paying using Cheq/Paytm etc as well. Rupay CC gives points. Then I use my debit card to pay credit card bill using CHEQ/Paytm. So, I get three rewards -
1) Rupay CC
2) Debit card rewards(like Indus debit card, RBL Signature+, HDFC millenia debit card etc)
3) CHEQ/Paytm/Postpe etc rewards.

FI add money -


TradeCred Add money -



My ITR is >35L, so I have not received any IT notice yet.

Please do let me know your thoughts. Thanks.

 

[Abhishek012]

Hi,

Few of the things that I have been using to reach Axis Magnus milestone, BoB Eterna monthly rewards and RuPay card to bank.

1) Axis Milestone, BoB Eterna and Amex(spend based offers). I use a platform named Falcon Invoices(It's mainly for invoice discounting). Here we gets Invoice discounting deals ranging from 30-180 days which gives return from 10% to 21%. Please note this is a risky platform. I have being using this platform since more than a year. It accepts credit card for investment without any fees. I typically buy a deal of 45 days just after bill generate and pay the bill once the deal is paid out. So, far I have invested > 30lakhs on this platform and so far not faced any issue(This is not investment advice). BoB Eterna card gives 3.75% rewards. And Axis gives normal 12 points / 200 plus it is considered for monthly milestone. Category comes under Miscellaneous.

Axis Magnus statement-

View attachment 16911

BoB Eterna statement -

View attachment 16912

My investment on Falcon -

View attachment 16913

View attachment 16914



2. Rupay CC to bank
While there are many tricks to use Rupay credit card to pay credit card bills. I can give two ways through which we can transfer Rupay credit card amount to Bank
i) There is an app named TradeCred(which is also for Invoice discounting). In this you can add money using UPI. So chose BHIM and add money in their wallet. Once Tradecred wallet is loaded, just transfer it to bank. The whole process takes 2-3 hours as they use NEFT to transfer money from their wallet to bank.
ii) Most of you might be using FI app. You can also add money using UPI in FI. Once you chose UPI then chose BHIM and proceed.

This might not be useful to many. The reason I follow above is I get some reward on paying using Cheq/Paytm etc as well. Rupay CC gives points. Then I use my debit card to pay credit card bill using CHEQ/Paytm. So, I get three rewards -
1) Rupay CC
2) Debit card rewards(like Indus debit card, RBL Signature+, HDFC millenia debit card etc)
3) CHEQ/Paytm/Postpe etc rewards.

FI add money -
View attachment 16918

TradeCred Add money -
View attachment 16919 View attachment 16920


My ITR is >35L, so I have not received any IT notice yet.

Please do let me know your thoughts. Thanks.

If i m now wrong then Falcon also issue RuPay Prepaid card/gift card.

Recently, QubeHealth Partners With NPCI and Falcon to launch prepaid health card powered by RuPay.

 

[kkk]

If i m now wrong then Falcon also issue RuPay Prepaid card/gift card.

Recently, QubeHealth Partners With NPCI and Falcon to launch prepaid health card powered by RuPay.

I don't know which Falcon you are referring to. This is one I am talking about - https://www.falconsgrup.com/login

 

[Abhishek012]

I don't know which Falcon you are referring to. This is one I am talking about - https://www.falconsgrup.com/login

ok, im talking about - https://www.falconfs.com/ 😀😀

 

[shubhamosy]

@kkk Thanks For Sharing..

 

[bugmenot]

It accepts credit card for investment without any fees.

This is really surprising for me. Few google play app review comments also mention about this feature as one of good features.

Really good find 👍

 

[jack333]

Other apps are also available like kredx, tradecred, clear.in and jiraaf but have never tried these

 

[kkk]

Other apps are also available like kredx, tradecred, clear.in and jiraaf but have never tried these

Have tried below-
1) Kredx is not allowing UPI using credit card and no credit card option.
2) TradeCred allows to rotate Rupay CC to bank, but no direct credit card(Visa etc).
3) Jiraaf allows Rupay CC using UPI but amount gets stuck for 30-90 days.

I didn't give above option as an investment means. Invoice discounting is risky investment. I have 60+ lakh in Equity, 30+ lakh in PPF/FD, so I am taking some risk in investing in Invoice discounting. But for a beginner, Invoice discounting is not all recommended.

I gave above options to use credit card effectively and get rewarded.

Please - Don't take this post as an investment option.

 

[RewardsAlert]

Hi,

Few of the things that I have been using to reach Axis Magnus milestone, BoB Eterna monthly rewards and RuPay card to bank.

1) Axis Milestone, BoB Eterna and Amex(spend based offers). I use a platform named Falcon Invoices(It's mainly for invoice discounting). Here we gets Invoice discounting deals ranging from 30-180 days which gives return from 10% to 21%. Please note this is a risky platform. I have being using this platform since more than a year. It accepts credit card for investment without any fees. I typically buy a deal of 45 days just after bill generate and pay the bill once the deal is paid out. So, far I have invested > 30lakhs on this platform and so far not faced any issue(This is not investment advice). BoB Eterna card gives 3.75% rewards. And Axis gives normal 12 points / 200 plus it is considered for monthly milestone. Category comes under Miscellaneous.

Axis Magnus statement-

View attachment 16911

BoB Eterna statement -

View attachment 16912

My investment on Falcon -

View attachment 16913

View attachment 16914



2. Rupay CC to bank
While there are many tricks to use Rupay credit card to pay credit card bills. I can give two ways through which we can transfer Rupay credit card amount to Bank
i) There is an app named TradeCred(which is also for Invoice discounting). In this you can add money using UPI. So chose BHIM and add money in their wallet. Once Tradecred wallet is loaded, just transfer it to bank. The whole process takes 2-3 hours as they use NEFT to transfer money from their wallet to bank.
ii) Most of you might be using FI app. You can also add money using UPI in FI. Once you chose UPI then chose BHIM and proceed.

This might not be useful to many. The reason I follow above is I get some reward on paying using Cheq/Paytm etc as well. Rupay CC gives points. Then I use my debit card to pay credit card bill using CHEQ/Paytm. So, I get three rewards -
1) Rupay CC
2) Debit card rewards(like Indus debit card, RBL Signature+, HDFC millenia debit card etc)
3) CHEQ/Paytm/Postpe etc rewards.

FI add money -
View attachment 16918

TradeCred Add money -
View attachment 16919 View attachment 16920


My ITR is >35L, so I have not received any IT notice yet.

Please do let me know your thoughts. Thanks.

It's really amazing and humble of you at the same time to share such valuable pieces of information with us.
Your presence is highly appreciated and your contribution in the form of this post is commendable.

Both points that you have shared are something not known to me.

Please continue to share similar methods with all of us in future as well.

Seeing this kind of response, I am further more glad on implementing this idea of a closed group with quality people.
With such content, we will make sure to further enhance the entry barriers to the group.

 

[kkk]

It's really amazing and humble of you at the same time to share such valuable pieces of information with us.
Your presence is highly appreciated and your contribution in the form of this post is commendable.

Both points that you have shared are something not known to me.

Please continue to share similar methods with all of us in future as well.

Seeing this kind of response, I am further more glad on implementing this idea of a closed group with quality people.
With such content, we will make sure to further enhance the entry barriers to the group.

I wanted to share it since long but I didn't want to do in open forum. Got to know about this group today and shared it.

 

[CP24]

Have tried below-
1) Kredx is not allowing UPI using credit card and no credit card option.
2) TradeCred allows to rotate Rupay CC to bank, but no direct credit card(Visa etc).
3) Jiraaf allows Rupay CC using UPI but amount gets stuck for 30-90 days.

I didn't give above option as an investment means. Invoice discounting is risky investment. I have 60+ lakh in Equity, 30+ lakh in PPF/FD, so I am taking some risk in investing in Invoice discounting. But for a beginner, Invoice discounting is not all recommended.

I gave above options to use credit card effectively and get rewarded.

Please - Don't take this post as an investment option.

Sorry, may be a noob question. Do I need to have a business to invest in invoice discounting? No idea on invoice discounting until I came across this post.

 

[jack333]

Have tried below-
1) Kredx is not allowing UPI using credit card and no credit card option.
2) TradeCred allows to rotate Rupay CC to bank, but no direct credit card(Visa etc).
3) Jiraaf allows Rupay CC using UPI but amount gets stuck for 30-90 days.

I didn't give above option as an investment means. Invoice discounting is risky investment. I have 60+ lakh in Equity, 30+ lakh in PPF/FD, so I am taking some risk in investing in Invoice discounting. But for a beginner, Invoice discounting is not all recommended.

I gave above options to use credit card effectively and get rewarded.

Please - Don't take this post as an investment option.

So minimum lock in is for 30 days in falcon and ever your money got stuck?

 

[phagocyte536]

I always wondered if there was a way to invest through credit card, brilliant find. Very kind of you to give enough disclaimers regarding the risk.

Many thanks 🙂

 

[kkk]

Sorry, may be a noob question. Do I need to have a business to invest in invoice discounting? No idea on invoice discounting until I came across this post.

No business needed. Please watch some videos to understand Invoice discounting before trying out invoice discounting. I came to know about if Invoice discounting almost 2 years back but I only started since last year before understanding all pros and cons of this.

 

[CP24]

No business needed. Please watch some videos to understand Invoice discounting before trying out invoice discounting. I came to know about if Invoice discounting almost 2 years back but I only started since last year before understanding all pros and cons of this.

Absolutely. Thanks for sharing this information.

 

[kkk]

So minimum lock in is for 30 days in falcon and ever your money got stuck?

So far I have received all the amount on time. As I mentioned I have invested around 31L+. I have received more than 2 lakh as return from them. And tons of rewards (Ex: Amex platinum travel card 4L milestone, Amex platinum travel spend based reward(Received 30k Taj voucher), 2500 Amazon voucher on spending 50k on Amex Platinum travel card, BoB Eterna every month Rs. 1625 as cashback, 31K edge points on Magnus since Oct 2022).

So, now even if they shut down and leave and lose out 1 lakh, I might not be on lose overall. The other reason I did it is we can always dispute the amount if you are paying through credit card. I did very thorough analysis about pros and cons and how much I am willing to take risk for rewards.

 

[jack333]

So you are using whole 1 lakh of magnus. No problem from axis side like card blockage due to commercial usage?

 

[phagocyte536]

So far I have received all the amount on time. As I mentioned I have invested around 31L+. I have received more than 2 lakh as return from them. And tons of rewards (Ex: Amex platinum travel card 4L milestone, Amex platinum travel spend based reward(Received 30k Taj voucher), 2500 Amazon voucher on spending 50k on Amex Platinum travel card, BoB Eterna every month Rs. 1625 as cashback, 31K edge points on Magnus since Oct 2022).

So, now even if they shut down and leave and lose out 1 lakh, I might not be on lose overall. The other reason I did it is we can always dispute the amount if you are paying through credit card. I did very thorough analysis about pros and cons and how much I am willing to take risk for rewards.

The plan sounds great, only worried about any IT scrutiny. I have 25L ITR

 

[jack333]

The plan sounds great, only worried about any IT scrutiny. I have 25L ITR

I think you'll be fine if you use per bank less than 10lakh annually as it doesn't gets reported in AIS

 

[kkk]

The plan sounds great, only worried about any IT scrutiny. I have 25L ITR

As long as you show your profit in ITR it should not be an issue. I am only worried if Bank starts treating it this as business transaction. It's one type of investment just like NPS. So, you can invest through credit card in NPS, right? So, this is also one type of investment. Whatever profit you get from it, you need to show in ITR.