1% cashback on Wallet loads using HDFC Millenia Debit card. What if I just load the max amount to Paytm and reload to my bank from Paytm.

[Sha03]

I'm pretty noob to CC. I prefer paying from my account or Billpay or UPI itself. As it gets settled as soon as we pay.

So, what if I just load 40k every month to Paytm using HDFC Millenia Debit Card and get 4.8k as cashback points per year, and also just reloading from Paytm wallet to my Bank in a day after I load the wallet. I'm not sure if this will work. If it works, then it'll offset most of my CC yearly fees, I guess.

Also, is there any fee associated with loading our money back from Paytm to our bank? Please let me know if this stupid method of loading and reloading the next day works. Also if there is any other better alternative.

 

[Rohith-2009]

Isnt this stale now, they have made wallet to bank free but upped the loading fees from 2.35% to 4.35% for CCs for folks who do that.

For me, it's 3.35 % but they're giving it back as Fuel cashback

 

[the_dark_knight]

Isnt this stale now, they have made wallet to bank free but upped the loading fees from 2.35% to 4.35% for CCs for folks who do that.

yeah, penalties differ for all, although the app screenshot i shared is a latest read not a stale read

 

[aceventura]

For me, it's 3.35 % but they're giving it back as Fuel cashback

Cool, they are keeping both the charges and cashback dynamic and user specific. For me, the loading charges is 2.35% and cashback is 1.5%.

 

[Sha03]

from next time onwards if any new member creates a new thread on a pre existing pre answered question thread he should receive a 3 month soft ban to not post from that id
@TechnoFino kindly makes arrangements for this

Could you please link me to that thread. I couldn't find any that matches my question and had been answered.

 

[Deleted member 11974]

Could you please link me to that thread. I couldn't find any that matches my question and had been answered.

there are many
ask the guy named DRV

 

[dipaknarayan]

I'm pretty noob to CC. I prefer paying from my account or Billpay or UPI itself. As it gets settled as soon as we pay.

So, what if I just load 40k every month to Paytm using HDFC Millenia Debit Card and get 4.8k as cashback points per year, and also just reloading from Paytm wallet to my Bank in a day after I load the wallet. I'm not sure if this will work. If it works, then it'll offset most of my CC yearly fees, I guess.

Also, is there any fee associated with loading our money back from Paytm to our bank? Please let me know if this stupid method of loading and reloading the next day works. Also if there is any other better alternative.

Did you get any information about this....