TBH, You just need 2 or 3 cards from rewards perspective and get best returns. Remaining redundant and no useful.
Lets say, 80k pm net home that means 10L annually, that is sufficient for 3 super-premium cards or 5 combination cards.
I hope whatever you mentioned are for monthly purchases:
Grocery/Food = 10k
Insurance = 12k + (additional 20k = 1.6L annually)
Fuel = 15k
UPI = 5k
Online shopping = 6k (on average if we consider occasional purchases during discounts)
Per month: 50k. i.e, 62% of your monthly income which might be very difficult with other fixed expenses and might be problematic when availing loans.
Anyway,
IDFC Power+: 5% Fuel, Grocery (Offline), Utility, FastTag
Millennia: 5% Food Delivery, Grocery (Online), Online shopping
TataNue Plus/APAY: If Insurance available in those platforms. 2%
Trust me
- the less cards you contribute your spends, the more you'll get rewards.
- the more cards you use for your spends, the less rewards you'll get for your spends.
Net Return for 50k monthly spends with above 3 cards:
=
3.76% (this is the best return and only possible if you spend on limited cards) including annual fee.
- more cards you use for your spends, the less reward points you'll get in your account which not suitable for any proper redemption. So, consider using and stick with few cards. Moreover, consistent usage improve relationship with bank which also improve your chances of LE, Upgrades etc.
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Close, not at all required (again, if you want to use these cards - close above ones but don't use both because net return <1% with annual fee.
1. Au LiT
2. Axis neo ltf
3. Axis airtel paid
4. Bob hpcl
7. Hdfc swiggy paid
12. One card sib
----------------------------
Just because LTF, you do not need to keep it. Because if you use occasional spends there, then spends reduced on actual cards + reward rate reduced due to limited spends/rewards.
Ex: Used SBI card for 10% discount on Amzn for 20000 product (you'll get 1500 discount usually, i.e, 7.5%) anycase, that reduces 20k on swiggy 5% above.
Did you know? Using Millennia card alone for your total 50k monthly spends gives you
3.5%. Figure out the math
🙂 (you don't even need any other card in this case).
Note: Above analysis for 50k monthly spends on above categories. It varies if categories changes or spends increased.
Lastly: Do not pick card based on single category. Analyse overall spends, understand the impact of flexibility, milestone, annual fee and choose what best for you.
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https://www.technofino.in/community/threads/guide-to-suggest-a-credit-card-basic-requirements.32560/
