2023 Credit Card Review: Milestones, Achievements, and Plans for 2024

[TechnoFinoTechnoFino is verified member.]

Hello TFCians,

It's December 25, 2023. We are just 6 days away from 2024. 2023 was full of action when it comes to credit cards. We have seen many credit cards go from being one of the best in India to almost useless, and we have also witnessed some extraordinary credit card launches in 2023. Let's discuss some personal milestones for the year, such as how many credit card accounts you opened, how many you closed, the amount of rewards you managed to earn (if you are comfortable sharing), the best deal you enjoyed using a credit card, which credit card you mainly use, your memorable purchase using a credit card, the trips you completed using credit card points, and your plans for 2024.

Let me share mine:

How many credit cards I have added in 2023 and how many I have closed?
I had 42 credit cards back in December 2022, and now I have 57, and closed 8 credit cards, so I have added 23 new credit cards in 2023.

The amount of rewards you managed to earn?
Before closing my Axis Magnus and Reserve, I managed to accumulate approximately 27.10 Lakhs EDGE Points in 2023. Accumulated Approximately 10 Lakhs MR Points in 2023. Accumulated 2.23 Lakhs ICICI Bank Credit Card reward points. Managed to get 2.8 Lakhs HDFC Infinia reward points. Managed to get 10 Lakhs Yes Private reward points. Also managed to get approx 1.58 Lakhs CV Points, 4 Business class tickets, and 4 Premium Economy class tickets using Vistara co-branded cards.

Your memorable purchase using a credit card?
Purchased a car using a credit card without paying any MDR fees.

The trips you completed using credit card points?
Almost all my domestic flights and hotels were sponsored by credit card rewards in 2023. All were mainly business/work trips. Took 28 flights in 2023, all were domestic flights.

Plan for 2024
Have booked 3 international trips so far, planning to visit 7 to 8 countries in 2024. And the main plan is to accumulate more rewards in 2024 than in 2023.

Which credit card did you use mainly?
I mainly used Axis Reserve, Magnus, Atlas, HDFC Infinia, Yes Private, ICICI Emeralde, Amex Plat Travel, MRCC, Gold Charge, SBI Cashback, SBI Vistara Prime, Axis Vistara Infinite, and maybe a few more cards.

Don't forget to share your yearly review!



Merry Christmas 🎄 & Happy New Year 2024
Cheers 🥂

 

[SSV]

may be HDFC Infinia LTF

For this wish to be fulfilled, about 100 Santas should come at a time and give you the gift!!
Unless Infinia is significantly devalued in the future

 

[Deleted member 11974]

I think it's not as fancy as it sounds.

Edge points can't be earned using referrals but Sumanta still managed to earn 27L of them. That shows his approximate spends.
Considering a 10% earn rate, that's ₹2.7 crore worth of spends. Influencers don't make that kind of spends, entrepreneurs do.

He earned 10L MR points, while the most you can earn from a referral on a card is 1.25L, let's say even if he maxes out 3 cards(most possible), that's still 3.7L points. For the remaining 6.3L MR points, he will have to spend ₹1.2 crore worth considering a 5% reward rate.

If you can spend ₹4 crores, you can earn such points too!

Obviously, being a voice of the community helps but we need to focus and appreciate more of his entrepreneurship journey!

most of his edge rewards were from reserve loophole which he closed before they reversed the same
but nonetheless
8 figures spends is what we would be looking at plus having a fan following through which he has minted points

 

[Card_Crafter]

How many Credit cards I have added in 2023?
Well I got my first unsecured credit card in September 2022. Now I have 16 CCs. Out of which, 14 are acquired in this year, 12 in the last six months and 5 in the last one month.

 

[SSV]

How many Credit cards I have added in 2023?
Well I got my first unsecured credit card in September 2022. Now I have 16 CCs. Out of which, 14 are acquired in this year, 12 in the last six months and 5 in the last one month.

TF effect, I suppose!!

 

[Card_Crafter]

TF effect, I suppose!!

Yup, pretty much.

 

[vijay.vj]

For this wish to be fulfilled, about 100 Santas should come at a time and give you the gift!!
Unless Infinia is significantly devalued in the future

Its okay, nothing urgent 🙂

Nothing wrong in pestering 🙂

 

[Odugu Narasimha Rao]

Hello TFCians,

It's December 25, 2023. We are just 6 days away from 2024. 2023 was full of action when it comes to credit cards. We have seen many credit cards go from being one of the best in India to almost useless, and we have also witnessed some extraordinary credit card launches in 2023. Let's discuss some personal milestones for the year, such as how many credit card accounts you opened, how many you closed, the amount of rewards you managed to earn (if you are comfortable sharing), the best deal you enjoyed using a credit card, which credit card you mainly use, your memorable purchase using a credit card, the trips you completed using credit card points, and your plans for 2024.

Let me share mine:

How many credit cards I have added in 2023 and how many I have closed?
I had 42 credit cards back in December 2022, and now I have 57, and closed 8 credit cards, so I have added 23 new credit cards in 2023.

The amount of rewards you managed to earn?
Before closing my Axis Magnus and Reserve, I managed to accumulate approximately 27.10 Lakhs EDGE Points in 2023. Accumulated Approximately 10 Lakhs MR Points in 2023. Accumulated 2.23 Lakhs ICICI Bank Credit Card reward points. Managed to get 2.8 Lakhs HDFC Infinia reward points. Managed to get 10 Lakhs Yes Private reward points. Also managed to get approx 1.58 Lakhs CV Points, 4 Business class tickets, and 4 Premium Economy class tickets using Vistara co-branded cards.

Your memorable purchase using a credit card?
Purchased a car using a credit card without paying any MDR fees.

The trips you completed using credit card points?
Almost all my domestic flights and hotels were sponsored by credit card rewards in 2023. All were mainly business/work trips. Took 28 flights in 2023, all were domestic flights.

Plan for 2024
Have booked 3 international trips so far, planning to visit 7 to 8 countries in 2024. And the main plan is to accumulate more rewards in 2024 than in 2023.

Which credit card did you use mainly?
I mainly used Axis Reserve, Magnus, Atlas, HDFC Infinia, Yes Private, ICICI Emeralde, Amex Plat Travel, MRCC, Gold Charge, SBI Cashback, SBI Vistara Prime, Axis Vistara Infinite, and maybe a few more cards.

Don't forget to share your yearly review!

View attachment 38437

Merry Christmas 🎄 & Happy New Year 2024
Cheers 🥂

Bro can u please list ur Creditcard portfolio 57 cards

 

[theglobalinvestor]

Added in last 12 months: amex platinum charge + travel + mrcc and axis atlas.

Closed: Axis my zone or choice. Can't remember. Barely used.

Most used card: infinia

 

[rohansamal]

Mix or business and personal spends... you can not earn such high numbers of reward points without business spends, few top of the line personal cards also allow you to make some business expenses.

Car I purchased, hyundai venue sx knight edition. I just asked them to accept payment via credit card and they did without asking for MDR 😁


Will make best credit card 2024 video first, then best and worst card launch of 2023 😄

Can you let us know which cards allow you to make business expenses?

 

[Sisyphus]

I couldn't fathom not getting approved for ICICI Amazon Pay and was looking for guidance on a rational reason for the rejection (turns out there was none) - Time was running on the Diwali sale on Amazon and that's how I came across this forum and began my CC Journey on 9th Nov 2023.


How many credit cards I have added in 2023 (1.5 months) and how many I have closed?
Closed: None
Added: 6 (AMEX - Platinum Travel, MRCC, Gold Charge; IndusInd Legend, SBI Cashback, ICICI Sapphiro Dual)
Critical Limit Enhancement: Increased my DCB limit to 8L

The amount of rewards you managed to earn?
AMEX Plat Travel: Hit both 1.9L & 4L milestones (Thanks to making this my primary card + ton of wallet loads)
SBI Cashback Card: INR 2500
MRCC & Gold Charge: Hit the monthly milestones in both months

Your memorable purchase using a credit card?
None

The trips you completed using credit card points?
One. Used DCB points to buy Amazon Vouchers (turned into fuel via HP Pay) + Points to book a Hotel via SmartBuy for a long overdue domestic trip

Plan for 2024
- Figure out a way to get Infinia (Optimised spending to show 7.5L usage in a 6-month window)
- Identify any more card gaps in my arsenal (One more SBI for festive offers, AXIS? etc)
- Find a sweet spot between too much optimisation vs too little optimisation using Credit Cards
- Get that damn Amazon Pay ICICI Card once the 6 month cooldown period ends, and use it minimally (Revenge?)

Which credit card did you use mainly?
AMEX Platinum Travel, SBI Cashback

 

[CC-Muncher]

What is your business?

 

[HumorSimpson]

What is your business?

@TechnoFino and annual spends on credit card.

 

[akshayhs]

eventually banks are winning the battle by trapping people in loans. People with 20 lac plus income acting dumb

Just need to maintain discipline in cc market



Hi,

This year was the worst year of my life. I saw a lot of setbacks in my personal life and professional life this year and then I lost 30L rupees in a scam.

This was a lot of my stupidity too. I took around 9 personal loans from different personal loan mobile apps and used my credit cards to the max hoping I will make some money in e-commerce and foreclose the loans from apps in a month or two. But a guy scammed me from China and I lost 29 lakhs in a day.

Now my situation is - my salary is 1.5 Lakh per month. I have a homelone with a EMI of 40K. Rest I have these 9 loans from apps and 3 credit cards which has a total debt of 27lakhs and now my monthly emi for all of this is way more than my salary. All these loan apps and credit card has very high interest rates.

I am in this situation since 2 months now where i am paying more emi's then my salary asking my family for money. I have managed till now and no EMI has bounced but i think i won't be able to manage after 1-2 months.

I was trying to get a big loan of around 25lakhs from a proper bank with a better interest rate so I can close all the app loans and credit card and just pay one EMI. That should be within my salary. But since my Cibil is now showing all these 9 loans and credit cards and my recent loan inquiries are also very high, no bank is giving me a loan because my account is overleveraged and my loan inquiries are so many in the recent days.

I tried contacting some private finance people but nobody i found that can help me here. I think if a private finance company can loan me around 25lakh for 3 months so that I can clear all these app loans and clear my Cibil, I can then contact a bank again for a bigger personal loan which should be easily approved. I can then close the loan from the private finance company and pay the bank a single EMI. But i can't find any such company.

Now I feel all my doors are closed and I don't see a way out of this. Can anyone suggest what could be a way out of this? Thank you!

I sincerely hope you have just copy-pasted the post from Reddit and the person involved is not you.

 

[Ankur dhanda]

Hello TFCians,

It's December 25, 2023. We are just 6 days away from 2024. 2023 was full of action when it comes to credit cards. We have seen many credit cards go from being one of the best in India to almost useless, and we have also witnessed some extraordinary credit card launches in 2023. Let's discuss some personal milestones for the year, such as how many credit card accounts you opened, how many you closed, the amount of rewards you managed to earn (if you are comfortable sharing), the best deal you enjoyed using a credit card, which credit card you mainly use, your memorable purchase using a credit card, the trips you completed using credit card points, and your plans for 2024.

Let me share mine:

How many credit cards I have added in 2023 and how many I have closed?
I had 42 credit cards back in December 2022, and now I have 57, and closed 8 credit cards, so I have added 23 new credit cards in 2023.

The amount of rewards you managed to earn?
Before closing my Axis Magnus and Reserve, I managed to accumulate approximately 27.10 Lakhs EDGE Points in 2023. Accumulated Approximately 10 Lakhs MR Points in 2023. Accumulated 2.23 Lakhs ICICI Bank Credit Card reward points. Managed to get 2.8 Lakhs HDFC Infinia reward points. Managed to get 10 Lakhs Yes Private reward points. Also managed to get approx 1.58 Lakhs CV Points, 4 Business class tickets, and 4 Premium Economy class tickets using Vistara co-branded cards.

Your memorable purchase using a credit card?
Purchased a car using a credit card without paying any MDR fees.

The trips you completed using credit card points?
Almost all my domestic flights and hotels were sponsored by credit card rewards in 2023. All were mainly business/work trips. Took 28 flights in 2023, all were domestic flights.

Plan for 2024
Have booked 3 international trips so far, planning to visit 7 to 8 countries in 2024. And the main plan is to accumulate more rewards in 2024 than in 2023.

Which credit card did you use mainly?
I mainly used Axis Reserve, Magnus, Atlas, HDFC Infinia, Yes Private, ICICI Emeralde, Amex Plat Travel, MRCC, Gold Charge, SBI Cashback, SBI Vistara Prime, Axis Vistara Infinite, and maybe a few more cards.

Don't forget to share your yearly review!

View attachment 38437

Merry Christmas 🎄 & Happy New Year 2024
Cheers 🥂

Where did you transfer 27L ER points?
Amex you transferred to MB.

 

[harshit_agrawal]

Mix or business and personal spends... you can not earn such high numbers of reward points without business spends, few top of the line personal cards also allow you to make some business expenses.

Car I purchased, hyundai venue sx knight edition. I just asked them to accept payment via credit card and they did without asking for MDR 😁


Will make best credit card 2024 video first, then best and worst card launch of 2023 😄

For the zero MDR, you mentioned paying with credit card in early stages of discussion or at last when rate was already finalized?

 

[PavanPavan is verified member.]

Another year i didn't get infinia 🙁
But got SC card 🙁

 

[knight]

Any idea what is Sumanta's core business??


Waise to lagta hai :

 

[nrj1007]

Utilising card smartly is the key 🔐
and without business spending, accumulating such reward is not possible. few top of the line cards do allow business spends.

Which cards allow business spends?

 

[TechnoFinoTechnoFino is verified member.]

What is your business?

@TechnoFino and annual spends on credit card.

 

[Ankur dhanda]

How many credit cards I have added in 2023 and how many I have closed?

Added M4B, Atlas, Select, Platinum charge, Platinum travel, HSBC Premier Metal, Prestige.



Closed RBL Zomato, Citi Rewards, Citi PM, Axis Vistara Infinite, Axis Samsung Infinite.



The amount of rewards you managed to earn?

~4L Axis ER, 2.75L Amex MR, 7.5K Prestige Points, 20K DCB, 10K IDFC Wealth



Your memorable purchase using a credit card?

Solitaire for wife.



The trips you completed using credit card points?

Trip to Turkey for a week using Turkish Airline miles for flight and Marriott Bonvoy points for stay.



Plan for 2024

1 domestic trip to a Taj Property and 1 international trip. May not be a high points earning year.



Which credit card did you use mainly?

Magnus, Atlas, MRCC, Gold Charge, Platinum charge, Platinum travel.