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Which of my card are best for NPS contribution?
Seems you are salaried and want to invest 50k in nps 80ccd(1b).
Payment on nps using cc takes convience fee + gst.
While I tried to pay 50k it was showing around 467 rs more.
If any of the cards,you mentioned are in active milestone program go with those.
For an example - in millenia card, if we spend 1 lacs milestone in a quarter, we get 1000rs voucher from hdfc, if by doing now payment, milestone is achieved it is good.
Check all your cards and milestone.
Otherwise, use axis platinum visa debit card/hdfc debit card to get 1% cashback. Because paying extra by cc isn't good idea.
I would suggest you go with a credit card like HSBC or other where they have introductory offer / flat voucher by doing first transaction within 30 days of card issuence.
HSBC gives 10% cashback upto 2,000 on platinum visa credit card on first transaction. But this is not time to do now, as 31st is very close, and if card does not come by that time, it will be waste..
Why can't we use Ace CC where we get 2% cashback on 50k which is 1K by paying 467 extra.
Still it's a profit of 533
Sorry didn't know about axis Ace, as I don't have this card. Seems to be interesting if given LTF.
@Ram you can choose axis Ace / sbi cashback
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akshayhs
TF Legend
It's not available as LTF but the joining and annual fee can be recovered easily even if you only spend it for GPay utility transactions
How ? On axis site it says charges waived off if spends are 2 lacs.
Please suggest how else...
akshayhs
TF Legend
Calculate the cashback you'll receive when you use it. It gives unlimited 2% for other spends and 5% for utility bill payments on Google Pay. 4% for swiggy/Zomato and ola spends. Spend 10k in issuing month to get joining fee reversed.
For example, I spend a little over 5k for bill payments every month. That alone will give me 250+ a month.
superstar@123
TF Premier
Hey there,
I've broken down the yearly contribution of 50k into a monthly contribution of 4,167 Rs, similar to how SIPs work in mutual funds.
I used to go with auto debit, but now I'm thinking of using my credit card for the monthly payments.
I have an HDFC Infinia, an Amex MRCC, a Platinum Travel, and a few other cards.
Which one do you think would be the best for my NPS contributions?
Thanks!
I've broken down the yearly contribution of 50k into a monthly contribution of 4,167 Rs, similar to how SIPs work in mutual funds.
I used to go with auto debit, but now I'm thinking of using my credit card for the monthly payments.
I have an HDFC Infinia, an Amex MRCC, a Platinum Travel, and a few other cards.
Which one do you think would be the best for my NPS contributions?
Thanks!
So all Amex cards will be charged PG fees but get milestone benefits (so MRCC and Plat Travel will get milestone benefits). AMEX Gold charge gets MR points too along with milestone benefits.
I like using my Amex for NPS (Tier 1) as Visa works everywhere but getting milestone benefits on AMEX is not easy.
IIRC PG charges are 0.7% plus GST on NPS portal.
superstar@123
TF Premier
Great, so in that case I can use Amex MRCC and divide the contribution further in 3 tranches of 1500 each in a month !
yes, i think the sweet spot was some Rs. 1483 or 1485 to just cross 1500 per month so as to get the bonus MR!
btw you can mark my earlier post as solution if you feel you got one!
Any thought on BizBlack for NPS payments? It will get regular reward points, since govt. transactions are not excluded. But has anyone tried Diners card acceptability for this? And charges?
I usually use Scapia card for NPS but they have updated the policy I haven’t tried after the update, I made last contribution using Amex Plat Travel
Mrcc for 4x1.5k and 20k milestone points.
Missed the FYF time argh... Hopefully Amex comes up with other offers later.
Currently Im using Onecard with 5x category to get 1% value to offset PG charges on CC.
How much you pay using one card to get above 1% ?
Can you pls share your monthly investment or usage in one card ?
So NPS CC Charges are 0.88 smtng, its a loss on most of cards as govt txn are exclused, but one card gives 0.2% base returns
This comes under Bills and Utilities category
So if you do 2 more category txns, top 2 of these 3 categories will be given 5x rewards, i.e. 1% valueback.
I get 2 of the Shopping, Food and Entertainment or Groceries done somehow within the calendar month so that 1% is applicable for Bills and Utilities.
The amounts don't matter, you just need 3 categories txns, top 2 will be 1%
Minus PG charges its barely +ve rewards and might not be worth the hassle, but I also have forex txn monthly which comes under Shopping, so I need to find 1 more txn so I am doing it. Mostly its Dmart for groceries of small amount.
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Thank you for your response !
Any one has some inputs on this. Can Biz Black be used for making NPS Payments ( 50k part)
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