Best Way to pay Credit Card Bill

[kushal]

Guys I am redacting this post as I have been asked by the bank for non disclosure as mentioned in TnCs else my account would be suspended. They had asked me to remove this as this violates the TnC related to not getting reward points for CC payments.

 

[faltooAdmi]

If reward rate is high, the logic works very well. That is one reason such cards block selective MCCs.
Cashback cards will block those MCCs very fast for such customers. Reward points based cards are little forgiving.

So you are saying my card may get blocked by doing this ?

 

[anirban.choudhuryanirban.choudhury is verified member.]

Eg : Let's assume 50k bill per month of hdfc credit card.

Even if mobikwik charges 3% that is around 1500 extra.

Sbi vistara prime gives a premium economy ticket on spends of 1.5L.

So if we make 3 payments of hdfc CC in mobikwik thru sbi vistara prime, it would give you a premium economy ticket by spending 4500Rs (that we spent on mobikwik as convenience fee)

Am I Missing something here ?
Any inputs here
@TechnoFino @bhavyegoel @RewardsAlert @ltf4ever @anirban.choudhury

Sorry I don’t use mobikwik
But mobikwik allows payment of cc through cc?

 

[VijayflyRaven]

So you are saying my card may get blocked by doing this ?

Less chance for your card as it is miles/rewards. High chance for cashback cards.

 

[faltooAdmi]

Less chance for your card as it is miles/rewards. High chance for cashback cards.

But why should it get blocked? We are not doing anything wrong here 🤔.

 

[VijayflyRaven]

But why should it get blocked? We are not doing anything wrong here 🤔.

Check out BOB blocking cards which do wallet transaction. IDFC has done it. APAY do it for certain transactions on Amazon.

 

[4uziaul]

Eg : Let's assume 50k bill per month of hdfc credit card.

Even if mobikwik charges 3% that is around 1500 extra.

Sbi vistara prime gives a premium economy ticket on spends of 1.5L.

So if we make 3 payments of hdfc CC in mobikwik thru sbi vistara prime, it would give you a premium economy ticket by spending 4500Rs (that we spent on mobikwik as convenience fee)

Am I Missing something here ?
Any inputs here
@TechnoFino @bhavyegoel @RewardsAlert @ltf4ever @anirban.choudhury

Just make sure your spends are not greater than your ITR.

 

[Karthi52]

Eg : Let's assume 50k bill per month of hdfc credit card.

Even if mobikwik charges 3% that is around 1500 extra.

Sbi vistara prime gives a premium economy ticket on spends of 1.5L.

So if we make 3 payments of hdfc CC in mobikwik thru sbi vistara prime, it would give you a premium economy ticket by spending 4500Rs (that we spent on mobikwik as convenience fee)

Am I Missing something here ?
Any inputs here
@TechnoFino @bhavyegoel @RewardsAlert @ltf4ever @anirban.choudhury

why would u do that when u can transfer using the likes of snapay etc for about 1 % to get the same rewards? even paytm have multiple offers of cashback points often

 

[Juganta]

HDFC:
Most of us know that the best way to pay Bills for the Credit Card is the HDFC Bill Pay Portal, it allows us 1% reward rate for max 750 per month.
A person has to use the HDFC Bill pay portal via Netbanking/Mobile Banking for the same. (Using Easyshop Platinum Debit Card)

IndusInd:
The second best way is premium Indusind Debit Cards, i.e., Select/Exclusive Debit Card, it offers upto 0.93% reward rate and could be beneficial for those who frequently exhaust the HDFC limit,
Note: Paytm does not accept the mastercard variant of these cards, so in my experience Mobikwik does and gives the reward. For Visa Variant, paytm would work.
Unlike HDFC, Indusind offers incremental rewards for Credit Card payment, the rewards you get are (Brackets for total monthly spend):

Spend 5k - 0.35% - Rs 17
Spend 10k - 0.43% - Rs 43
Spend 20k - 0.56% - Rs 112
Spend 30k - 0.67% - Rs 201
Spend 40k - 0.72% - Rs 288
Spend 50k - 0.78% - Rs 390
Spend 60k - 0.83% - Rs 500
Spend 80k - 0.88% - Rs 704
Spend 100k - 0.92% - Rs 920
Spend 112.5k (Max) - 0.93% - Rs 1050
Here the max limit for Cashback is Rs 1050 a month as a person can get max 3000 reward points (1 RP= Rs 0.35)

I am planning to open an Indus Max Active (25K MAB) savings account.
Will i be able to get 2 debit card?
Is there issuance fee for debit card against this ac variant?

 

[4uziaul]

I am planning to open an Indus Max Active (25K MAB) savings account.
Will i be able to get 2 debit card?
Is there issuance fee for debit card against this ac variant?

Not sure about 2 debit cards but you will get Platinum Plus Debit Card and if you want Signature/Exclusive it will be chargeable.

Check here for more info

Indus Max Active: Open Primary Savings Account Online | IndusInd Bank

Make Indus max active your primary account & receive rewards for actively using it for all transactions. Check the benefits of the primary bank account on our website.

www.indusind.com

 

[VijayflyRaven]

I am planning to open an Indus Max Active (25K MAB) savings account.
Will i be able to get 2 debit card?
Is there issuance fee for debit card against this ac variant?

Go for HDFC savings max. 25k MAB and platinum card free with 1% bill pay. Works very well and no need to spend more to get 1%.

 

[Juganta]

Go for HDFC savings max. 25k MAB and platinum card free with 1% bill pay. Works very well and no need to spend more to get 1%.

Already have HDFC Platinum (Not free) card with salary account.

 

[VijayflyRaven]

Already have HDFC Platinum (Not free) card with salary account.

You can make it free. Just check with branch to classify account for free platinum card. Savings max gives free for 25k MAB.

With hdfc bill pay, you get 1% flat instead of tier approach. Why do you want Indus which gives only 0.35% for smaller values of transaction.

 

[chenrichy]

Already have HDFC Platinum (Not free) card with salary account.

As in general case HDFC salary account basically provides Platinum card as no charge

 

[faltooAdmi]

why would u do that when u can transfer using the likes of snapay etc for about 1 % to get the same rewards? even paytm have multiple offers of cashback points often

You are saying instead of using mobikwik I can use some other platforms to pay my hdfc CC bill using another CC (say SBI) at a lower rate than mobikwik's 3% ?

If that's the case could you share some platforms that allow CC bill payment through other CCs?

 

[VijayflyRaven]

You are saying instead of using mobikwik I can use some other platforms to pay my hdfc CC bill using another CC (say SBI) at a lower rate than mobikwik's 3% ?

If that's the case could you share some platforms that allow CC bill payment through other CCs?

The other systems pay to your bank account instead of credit card. Risky!

 

[Karthi52]

Yes,but. Paytm balance can be used to pay credit card bills and they often come with cashback offers on cc load. Also if achieving milestones is the reason for paying cc bills using other cc, transferring is cheaper

The other systems pay to your bank account instead of credit card. Risky

 

[hysteriadoc]

HDFC:
Most of us know that the best way to pay Bills for the Credit Card is the HDFC Bill Pay Portal, it allows us 1% reward rate for max 750 per month.
A person has to use the HDFC Bill pay portal via Netbanking/Mobile Banking for the same. (Using Easyshop Platinum Debit Card)

IndusInd:
The second best way is premium Indusind Debit Cards, i.e., Select/Exclusive Debit Card, it offers upto 0.93% reward rate and could be beneficial for those who frequently exhaust the HDFC limit,
Note: Paytm does not accept the mastercard variant of these cards, so in my experience Mobikwik does and gives the reward. For Visa Variant, paytm would work.
Unlike HDFC, Indusind offers incremental rewards for Credit Card payment, the rewards you get are (Brackets for total monthly spend):

Spend 5k - 0.35% - Rs 17
Spend 10k - 0.43% - Rs 43
Spend 20k - 0.56% - Rs 112
Spend 30k - 0.67% - Rs 201
Spend 40k - 0.72% - Rs 288
Spend 50k - 0.78% - Rs 390
Spend 60k - 0.83% - Rs 500
Spend 80k - 0.88% - Rs 704
Spend 100k - 0.92% - Rs 920
Spend 112.5k (Max) - 0.93% - Rs 1050
Here the max limit for Cashback is Rs 1050 a month as a person can get max 3000 reward points (1 RP= Rs 0.35)

What are more options to pay HDFC CC bill beyond the Indusind DC limit of 112.5k. Suppose i have a bill of 2 Lakhs, then how to gain ?

 

[VijayflyRaven]

What are more options to pay HDFC CC bill beyond the Indusind DC limit of 112.5k. Suppose i have a bill of 2 Lakhs, then how to gain ?

You can get 3 cards from indus (signature, world, platinum). The platinum max is 750 while the other two is 1050. Platinum rewards rate is 5x instead of 6x for the other 2.

 

[Ankur dhanda]

Sorry I don’t use mobikwik
But mobikwik allows payment of cc through cc?

Yes you can pay cc bill through cc but charges are high 2.95%

 

[VijayflyRaven]

Yes you can pay cc bill through cc but charges are high 2.95%

I pay 0%. 🙂