Best credit card for school / college fee payments

[mast2510]

Hi friends, one more query:

I would like to know which is the best credit card for paying school & college fees ?

Points to note here, the school website allows to pay the fee from their website directly and no need to use any of the 3rd party app like CRED.

So which are the best credit cards give more benefits?
I have HDFC Infinia, Axis Magnus, SBI cashback, ICICI Amazon pay/coral, IDFC First, etc..

Thanks in advance.

 

[manwithahead]

I'm going to pay over Rs.15 lakhs in education fees over the next 2 years and I want a new card for just this purpose.
Which card would you suggest for me given SBI cashback has removed rewards on education fee payment now.

Did you decide on one? I am in the same boat.

 

[manwithahead]

apay card 1%
Sbi cb for utility 1%
Legend use on weekends but limited rewards

I don't see Infinia being recommended for college payments. Is that not a good option for it?
Reason I ask is I will be paying ~40L in the next 18 months and plan to do it through Infinia. So if there are cards that will be a slightly better option, knowing those would help me significantly as it's a big amount.

My reason for using Infinia is straight forward: it will give 3.3% RPs which I consider 3.3% cashback assuming 1RP as Rs 1.

 

[Wealth is my birth right!]

I don't see Infinia being recommended for college payments. Is that not a good option for it?
Reason I ask is I will be paying ~40L in the next 18 months and plan to do it through Infinia. So if there are cards that will be a slightly better option, knowing those would help me significantly as it's a big amount.

My reason for using Infinia is straight forward: it will give 3.3% RPs which I consider 3.3% cashback assuming 1RP as Rs 1.

Nope post august there will be surcharge on education fees on infinia i guess
I have Regalia card for which i got notification
Pls check whether for infinia if any such

 

[manwithahead]

Nope post august there will be surcharge on education fees on infinia i guess
I have Regalia card for which i got notification
Pls check whether for infinia if any such

Two points:

1) If I remember correctly, ISB (the college I was paying to) had a 1% surcharge on all Visa/ MasterCard CCs when paying through CCs.

2) About the HDFC advisory, this is what I received -

"If you make education payments through college/school websites or their POS machines, there will be no fees. International education payments are excluded from this charge. However, on education payments through third-party apps like (but not limited to) CRED, PayTM, Cheq, MobiKwik and others, a 1% fee will be charged and capped at ₹3000 per transaction."

I'm planning to pay through the website. But even with surcharge this is what I calculate:
1. 8L * 3.3% = 26,400 RPs - (my instalments are 8L each)
2. 26,400 RPs = Rs. 26.4K (max.)
3. Less Rs. 3000 (max surcharge) = Rs. 23.4K - the 'cashback' I get on 8L instalment. So, for total 40L, it will be about Rs. 1.17L.

 

[Wealth is my birth right!]

Two points:

1) If I remember correctly, ISB (the college I was paying to) had a 1% surcharge on all Visa/ MasterCard CCs when paying through CCs.

2) About the HDFC advisory, this is what I received -

"If you make education payments through college/school websites or their POS machines, there will be no fees. International education payments are excluded from this charge. However, on education payments through third-party apps like (but not limited to) CRED, PayTM, Cheq, MobiKwik and others, a 1% fee will be charged and capped at ₹3000 per transaction."

I'm planning to pay through the website. But even with surcharge this is what I calculate:
1. 8L * 3.3% = 26,400 RPs - (my instalments are 8L each)
2. 26,400 RPs = Rs. 26.4K (max.)
3. Less Rs. 3000 (max surcharge) = Rs. 23.4K - the 'cashback' I get on 8L instalment. So, for total 40L, it will be about Rs. 1.17L.

Good that u r using direct payment on their site which wont pain u extra charge other than gateway 1%
But for 40l i see the return is less
Dont you consider Magnus for Burgundy account card
Just a suggestion
Or if you’re having plans with 40l spend trying for metal edition its ok

 

[manwithahead]

Good that u r using direct payment on their site which wont pain u extra charge other than gateway 1%
But for 40l i see the return is less
Dont you consider Magnus for Burgundy account card
Just a suggestion
Or if you’re having plans with 40l spend trying for metal edition its ok

Two more questions:
1) You're saying Magnus would offer better rewards than Infinia? (I gave up Magnus not too long ago since I did not use it much after devaluation last year)
2) Any other recommendations on what card(s) would be best for these payments? I will do some research into those cards over coming weekends. One card on my radar is the Yes Bank Marquee. IndusInd Legend is another.

I will most likely be combining them with Infinia to make payments.

Like you said, 40L is a big sum which is why I am now looking to get new cards to make sure I get the most benefits/ rewards. So far, I have just used Infinia as it keeps life somewhat simple (with SBI's BPCL for fuel). I've already got Infinia's Metal edition.

And thank you for all the guidance. I really appreciate it!

 

[Wealth is my birth right!]

Two more questions:
1) You're saying Magnus would offer better rewards than Infinia? (I gave up Magnus not too long ago since I did not use it much after devaluation last year)
2) Any other recommendations on what card(s) would be best for these payments? I will do some research into those cards over coming weekends. One card on my radar is the Yes Bank Marquee. IndusInd Legend is another.

I will most likely be combining them with Infinia to make payments.

Like you said, 40L is a big sum which is why I am now looking to get new cards to make sure I get the most benefits/ rewards. So far, I have just used Infinia as it keeps life somewhat simple (with SBI's BPCL for fuel). I've already got Infinia's Metal edition.

And thank you for all the guidance. I really appreciate it!

Welcome always 😊
If you’re into miles game take AmEx Platinum Travel and any Club Vistara cards idfc or Axis Bank or sbi so that u can spread into these like Platinum Travel 4l then Club Vistara 4.5 l like that u can get free flight tickets

 

[shivamk]

IndusInd Legend is another.

What's the net reward rate of Legend?

Isn't it 0.7RP per 100

Revision Indusind Bank Credit Card Rewards Program effective 1st August 2019

Earn credit card reward points everytime you spend on various merchant categories. Make the most of IndusInd Bank’s credit card rewards. Check Now!

www.indusind.com

 

[Madhav]

Did you decide on one? I am in the same boat.

I decided to go with Axis Vistara Infinite at that point. It's great for the first 7.5L especially . I wasn't able to get Infinia approved unfortunately and Magnus had already been devalued.

There's a lot of uncertainty around it after the merger announcement so I'd suggest Axis Atlas instead as something you can consider too.