Beat Forex Fees: Best Credit Cards that offset mark-up fee with Rewards

[Buttman]

Every month one card under rewards section for enabling 0 forex which ideally is sometimes valid for 30 days or 60days but every month the 0 forex option comes. You have to enable it but it becomes habit no issues in this part.

3x and 5x is totally how you spend and it's not interlinked just with forex but anyspend no restrictions and it's always open how you spend, just spending on shoping and dinning once unlocks 3 and 5x one time and multiple spends keeps on using points.

7x comes comes under reward categories like 0forex option to enable and it's not like everytime it comes but this is something we have to see before spending once unlocked or active with 3 and 5 all 3x comes separate 5x comes separate 7x comes separate as there respective rewards and 0 forex comes with it's reward points hence this is something that takes out the competition but yes 3x and 5x is also sufficient to take most of the cards out of competition and 7x takes out every card out of competition. And 7x has a cap upto 7lakhs spends

Ideally it's best to keep visa card than rupay as rupay is useless in international spends and visa is open to spend. underestimating onecard is big loss of users who dont have or not able to understand how it goes.

No forex offer for one card this month. Needed to do one for a friend. Any idea when it goes live?

 

[Indrajeet100]

ICICI Emerald Metal also forex is 2.36% including GST and rewards 3% and 3.7% if milestone is met so net gain of atleast .5%

 

[nayra]

No forex offer for one card this month. Needed to do one for a friend. Any idea when it goes live?

Takes 3 4 days most of the times

 

[helloworld]

ICICI Emerald Metal also forex is 2.36% including GST and rewards 3% and 3.7% if milestone is met so net gain of atleast .5%

will update. Tq

 

[rudraksh2005]

What about Axis Atlas. I am pasting below sth from a redditt post-i cant take any credit for this. This shows a high reward rate but hasnt subtracted the forex conversion charge of 4.13% but even with that it appears decent. Is there sth wrong with the calculation?

 

[helloworld]

What about Axis Atlas. I am pasting below sth from a redditt post-i cant take any credit for this. This shows a high reward rate but hasnt subtracted the forex conversion charge of 4.13% but even with that it appears decent. Is there sth wrong with the calculation?

Atlas and Regalia Gold are 5%+ based on this, so lowest you can get 0.87% but highest it depends on redemption. Will put a note on this thread.

 

[rudraksh2005]

@helloworld Also would appreciate your thoughts on Amex Platinum Charge card (Yes i know fees are 71K)- they offer 3x MR points on all forex transactions with the usual 4.13% markup.
If you dont mind will also ask for a credit card recco +/- bank account recco.
My current cards- Axis Atlas/Rewards/Aitel
Amazon Icici/SBI Cashback
IDFC Wealth
HDFC Tata Neu
Also been issued the Amex Platinum Charge card(havent activated it yet)-still working out if its worth it.
I am banking with Canara Bank(absolutely zero benefits) with >20L balance-more than happy to switch account for better benefits/cards.

Annual ITR > 1cr
Expected forex spends -35L (18 L college fees+ 9 L acco fees= 10 L largely as POS)
Amazon 1 L
Grocery 80k
Others 3 K
Car maintenance 110000
Insurance 200k
Swiggy etc 100k
Dining 35k
School fees 550k
Others 5L
Advance Tax >10 L

 

[helloworld]

@helloworld Also would appreciate your thoughts on Amex Platinum Charge card (Yes i know fees are 71K)- they offer 3x MR points on all forex transactions with the usual 4.13% markup.
If you dont mind will also ask for a credit card recco +/- bank account recco.
My current cards- Axis Atlas/Rewards/Aitel
Amazon Icici/SBI Cashback
IDFC Wealth
HDFC Tata Neu
Also been issued the Amex Platinum Charge card(havent activated it yet)-still working out if its worth it.
I am banking with Canara Bank(absolutely zero benefits) with >20L balance-more than happy to switch account for better benefits/cards.

Annual ITR > 1cr

TBH, you're in a position to get any card you want, any account you want. Some suggestions..

Expected forex spends -35L (18L college fees+ 9L acco fees + 10L largely as POS)
Amazon 1L
Grocery 80k
Car maintenance 1.1L
Insurance 2L
Swiggy etc 1L
Dining 35k
School fees 5.5L
Others 5L
Advance Tax >10 L

Amzn, Grocery, Others, Car maintenance, Swiggy, Dining, School Fees, part of forex spends:

Magnus for Burgundy (only to transfer to partners):

< 1.5L in a month: 12 RP / 200.
> 1.5L in a month (incremental): 35 RP / 200.
Travel Edge (<2L in a month): 60 RP / 200.

Transfer to miles/hotels at 5:4.

Part of Advance Tax:

HDFC Biz Black

Insurance, part of forex spends, part of advance tax:

Perferred Olympus once available to everyone but too much in Axis will be complicated, so for now, Platinum Charge. But,

(if we value each MR as low as 0.50p, and 3x means 3.75% and taking 4.13% means we're loosing value, that means we need to get 1 MR > 0.60p whatever way we can redeem).

Other cards and accounts for you:

HSBC Premier (Eligible with current ITR)
Axis Burgundy Private (Required 5Cr.)

 

[sourpai]

@helloworld Also would appreciate your thoughts on Amex Platinum Charge card (Yes i know fees are 71K)- they offer 3x MR points on all forex transactions with the usual 4.13% markup.
If you dont mind will also ask for a credit card recco +/- bank account recco.
My current cards- Axis Atlas/Rewards/Aitel
Amazon Icici/SBI Cashback
IDFC Wealth
HDFC Tata Neu
Also been issued the Amex Platinum Charge card(havent activated it yet)-still working out if its worth it.
I am banking with Canara Bank(absolutely zero benefits) with >20L balance-more than happy to switch account for better benefits/cards.

Annual ITR > 1cr
Expected forex spends -35L (18 L college fees+ 9 L acco fees= 10 L largely as POS)
Amazon 1 L
Grocery 80k
Others 3 K
Car maintenance 110000
Insurance 200k
Swiggy etc 100k
Dining 35k
School fees 550k
Others 5L
Advance Tax >10 L

Unless you are social media influencer who can rake in thousands of MR points via referral, Amex Plat charge is of no use. Or unless you spends in excess of 20-30L in one go, where no cap credit limit is required. There are better cards around. helloworld has already given some suggestions

 

[rudraksh2005]

TBH, you're in a position to get any card you want, any account you want. Some suggestions..



Amzn, Grocery, Others, Car maintenance, Swiggy, Dining, School Fees, part of forex spends:

Magnus for Burgundy (only to transfer to partners):

< 1.5L in a month: 12 RP / 200.
> 1.5L in a month (incremental): 35 RP / 200.
Travel Edge (<2L in a month): 60 RP / 200.

Transfer to miles/hotels at 5:4.

Part of Advance Tax:

HDFC Biz Black

Insurance, part of forex spends, part of advance tax:

Perferred Olympus once available to everyone but too much in Axis will be complicated, so for now, Platinum Charge. But,

(if we value each MR as low as 0.50p, and 3x means 3.75% and taking 4.13% means we're loosing value, that means we need to get 1 MR > 0.60p whatever way we can redeem).

Other cards and accounts for you:

HSBC Premier (Eligible with current ITR)
Axis Burgundy Private (Required 5Cr.)

Thank you so much- the detailed reply is much appreciated.
Two further questions:
How does one go about getting the HDFC Biz Black?
Is the Amex trifecta worth taking?
Thanks again

 

[helloworld]

Thank you so much- the detailed reply is much appreciated.
Two further questions:
How does one go about getting the HDFC Biz Black?

Can be applied with branch people help! easy to get for business income.

Is the Amex trifecta worth taking?

Thanks again

for you sir, tbh this is not recommended.

See, AMEX trifecta is all about spending monthly (constantly and every month)

Travel: 4L
MRCC: 2.4L
Gold: 3-4L (especially 80% of it should be for vouchers)

So, it comes around 10L annual spends and need constant monthly spends like only 20K with MRCC, 4L annually with Travel, 10-30k for gold monthly capping. It can be tiresome and takes time and effort.

IMO, better with Platinum Charge but do note the redemption value. But if you're ok then yes trifecta is very good infact best combo in AMEX. Just check monthly limits/cap which might break your flow.

Infact, Atlas 15L will provide more benefits if transferred in preferred partners.

Check this once for AMEX: https://www.technofino.in/community...ex-gold-vs-amex-travel-vs-amex-reserve.30606/
Atlas: https://www.technofino.in/community/threads/axis-atlas-vs-hdfc-regalia-gold-vs-axis-horizon.26500/