Infinia BizBlack to Infinia confused?

[thatssoaman]

So, I was having a Business Regalia card with a 9.8 Lacs limit and I got it upgraded to Bizblack, which was a pre-approved offer from HDFC Bank about 3-4 months ago.

Now, I'm facing a lot of issues with the acceptance of diners like on Razorpay payment gateway. So, I'm planning to get Infinia and I called my relationship manager (I have an HDFC preferred account). She said the minimum limit of the card should be 8 Lacs, which I already have, and she said I need to use at least 8 Lacs within six months of the card issuance. Currently, my usage is approximately 7 Lacs, and she said once the threshold is reached for 8 Lac usage, I can fill out the form and send her an email. Basically, it will be completed by next month, most likely.

However, the question is: will they ask for income proof along with that form because I have a family business and don't have my own income yet? I have an excellent credit history and five other bank credit cards as well. My second question is: will I get LTF or first-year annual fee waiver like I did with my Bizblack upgrade? My third and final question is: is it really worth getting Infinia, considering I have this Bizblack with first-year free charges and I'm about to reach the threshold of next year's fee waiver, which is 8 Lacs usage? If I get Infinia, I'll have to start again to get it free next year.

 

[helloworld]

Thread 'Guide to suggest a credit card - Basic requirements'

Sep 28, 2024

How to Choose the Right Credit Card for You

Simply looking at your CIBIL score or listing your existing cards won't help determine the most suitable credit card for you. To make an informed choice, you need to consider various factors.

Key Steps to Select a Credit Card:​

1. Identify Your Spending Categories
   
   Look at your monthly or annual expenses and categorize them. This will help determine which card gives the best rewards for your spending pattern.
   
   Example:
   • Amazon: ₹5,000
   • BigBasket: ₹5,000
   • Offline Grocery: ₹10,000...

• helloworld
• Replies: 8
• Forum: Suggest me a Credit Card

• 
• 
• 

considering I have this Bizblack with first-year free charges and I'm about to reach the threshold of next year's fee waiver, which is 8 Lacs usage? If I get Infinia, I'll have to start again to get it free next year.

based on this question, I'm suggesting NO.

also, do change text color.

 

[sidp]

This is complicated situation.
1. It seems like it is under personal pan. Hdfc wants to you to put your business expenses on personal pan. But that means total expenses will be more than >10L & your filed itr. Which means it will show up on ais and most likely attract a show cause notice. Therefore it is always advisable to keep your personal and business expenses separate. This will make things much smoother .

2. Getting infinnia as floater is difficult as this is higher variant. You can easily get RG. But As your transactions are high, you should be able to convince them to issue dcb /infinnia as floater. And press for ltf. Tell them You want to keep your business and personal expenses separate but keeping 2 paid with high fees doesn't make sense. How much & how frequently will be this additional( personal & ineligible on diners) expenses.

Don't go for upgrade. There are replacement for infinnia, but not for biz black.

 

[drsel]

So, I was having a Business Regalia card with a 9.8 Lacs limit and I got it upgraded to Bizblack, which was a pre-approved offer from HDFC Bank about 3-4 months ago.

Now, I'm facing a lot of issues with the acceptance of diners like on Razorpay payment gateway. So, I'm planning to get Infinia and I called my relationship manager (I have an HDFC preferred account). She said the minimum limit of the card should be 8 Lacs, which I already have, and she said I need to use at least 8 Lacs within six months of the card issuance. Currently, my usage is approximately 7 Lacs, and she said once the threshold is reached for 8 Lac usage, I can fill out the form and send her an email. Basically, it will be completed by next month, most likely.

However, the question is: will they ask for income proof along with that form because I have a family business and don't have my own income yet? I have an excellent credit history and five other bank credit cards as well. My second question is: will I get LTF or first-year annual fee waiver like I did with my Bizblack upgrade? My third and final question is: is it really worth getting Infinia, considering I have this Bizblack with first-year free charges and I'm about to reach the threshold of next year's fee waiver, which is 8 Lacs usage? If I get Infinia, I'll have to start again to get it free next year.

1) Yes, income tax return is mandatory and should be over 60 lacs
2) you will not get INFINIA lifetime free, but if you spend 3 lakhs (only cash based transactions are excluded) in the first 90 days, they will waive off the joining fee of 14750.
3) Try to o get INFINIA also.
You don't need to surrender Biz Black

 

[_amit_]

Your criteria for Infinia is only acceptability issues? If yes, you don't need Infinia.
Why are you not using other cards you are having for such scenarios? Maybe pick one card and keep it limited for business use where BizBlack fails.

I have a family business and don't have my own income yet?

As you already have HDFC card. Also, as a self-employed, share bank statement.

will I get LTF or first-year annual fee waiver like I did with my Bizblack upgrade?

LTF unlikely, but if pressed FYF should be easy. Ask them for Infinia as floater. If they deny as another CC guy from another branch, or maybe try to connect with another RM in your area who can smooth things for you. RMs are simply sales people looking for business. If your current RM is having hard time helping you, move out to someone who can. Make sure they can do it.

is it really worth getting Infinia, considering I have this Bizblack with first-year free charges and I'm about to reach the threshold of next year's fee waiver, which is 8 Lacs usage?

Depends on you. You criteria is acceptability which means you dont need it.
Infinia is for SmartBuy driven personal expenses.
BizBlack is for business
And keep both if you go for Infinia too.


Its was really hard for me to read your post so please do not format the text color which is non contrasting.

 

[thatssoaman]

This is complicated situation.
1. It seems like it is under personal pan. Hdfc wants to you to put your business expenses on personal pan. But that means total expenses will be more than >10L & your filed itr. Which means it will show up on ais and most likely attract a show cause notice. Therefore it is always advisable to keep your personal and business expenses separate. This will make things much smoother .

2. Getting infinnia as floater is difficult as this is higher variant. You can easily get RG. But As your transactions are high, you should be able to convince them to issue dcb /infinnia as floater. And press for ltf. Tell them You want to keep your business and personal expenses separate but keeping 2 paid with high fees doesn't make sense. How much & how frequently will be this additional( personal & ineligible on diners) expenses.

Don't go for upgrade. There are replacement for infinnia, but not for biz black.

I don't file ITR, and I keep my credit card spending below 10L to avoid trouble. I have BizBlack, so I don't want to get DCB; it's kind of the same. I don't file taxes for myself, and so I don't have any business expenses on it, like utility bills with high amounts. So I didn't find BizBlack very rewarding for me. You still think I should not convert my BizBlack to Infinia?

 

[thatssoaman]

Thread 'Guide to suggest a credit card - Basic requirements'

Sep 28, 2024

How to Choose the Right Credit Card for You

Simply looking at your CIBIL score or listing your existing cards won't help determine the most suitable credit card for you. To make an informed choice, you need to consider various factors.

Key Steps to Select a Credit Card:​

1. Identify Your Spending Categories
   
   Look at your monthly or annual expenses and categorize them. This will help determine which card gives the best rewards for your spending pattern.
   
   Example:
   • Amazon: ₹5,000
   • BigBasket: ₹5,000
   • Offline Grocery: ₹10,000...

• helloworld
• Replies: 8
• Forum: Suggest me a Credit Card

• 
• 
• 

based on this question, I'm suggesting NO.

also, do change text color.

Thanks for your suggestions. Changed text color.

 

[thatssoaman]

1) Yes, income tax return is mandatory and should be over 60 lacs
2) you will not get INFINIA lifetime free, but if you spend 3 lakhs (only cash based transactions are excluded) in the first 90 days, they will waive off the joining fee of 14750.
3) Try to o get INFINIA also.
You don't need to surrender Biz Black

I don't file taxes for myself, and so I don't have any business expenses on it, like utility bills with high amounts. So I didn't find BizBlack very rewarding for me. You still think I should not surrender my BizBlack for Infinia?

 

[thatssoaman]

Your criteria for Infinia is only acceptability issues? If yes, you don't need Infinia.
Why are you not using other cards you are having for such scenarios? Maybe pick one card and keep it limited for business use where BizBlack fails.



As you already have HDFC card. Also, as a self-employed, share bank statement.


LTF unlikely, but if pressed FYF should be easy. Ask them for Infinia as floater. If they deny as another CC guy from another branch, or maybe try to connect with another RM in your area who can smooth things for you. RMs are simply sales people looking for business. If your current RM is having hard time helping you, move out to someone who can. Make sure they can do it.



Depends on you. You criteria is acceptability which means you dont need it.
Infinia is for SmartBuy driven personal expenses.
BizBlack is for business
And keep both if you go for Infinia too.


Its was really hard for me to read your post so please do not format the text color which is non contrasting.

Yes, it's mainly an acceptability issue, and I don't have any business expenses like filing taxes or paying large utility bills. So, I didn't get much return on the BizBlack card. I am not using other cards because all of them are LTF and have kind of no reward return rate. Do you still think I need to keep BizBlack and get Infinia as a floater? And sorry about the fonts(I have fixed it now).

 

[Avatar Aang]

If your RM has confirmed then you can get Infinia. Mostly it'll be FYF, LTF is highly unlikely. For spend based upgrade HDFC won't ask income documents as Income documents are mainly required to determine your CL not the variant of the card. If you have any other HDFC card then you can try to upgrade that card to Infinia and keep the Bizblack as floater card.

 

[peachyrahu]

is Infinia possible as floater? anyone got one?

 

[_amit_]

Yes, it's mainly an acceptability issue, and I don't have any business expenses like filing taxes or paying large utility bills. So, I didn't get much return on the BizBlack card. I am not using other cards because all of them are LTF and have kind of no reward return rate. Do you still think I need to keep BizBlack and get Infinia as a floater? And sorry about the fonts(I have fixed it now).

It was my assumption that you were utilising BizBlack to the fullest.

If you are part of the family business, I guess you can and should be able to utilise BizBlack as it can be used for tax payments, bills, insurance etc.
If none of the business "partners" are maximizing such things via any card, you can try to pay those via your card. Though I would suggest file ITR as you mentioned in later comment that you do not file it. Having large expenses without income will trouble you sooner than later.

In case above is not possible, i would suggest to review the possibility of closing the BizBlack if its not profitable for you in the near future either.


About other cards, it depends on the cards and your usage.

If you wish to get detailed response from the community about your expense optimisation, please provide with the details of your expenses.

 

[sidp]

I don't file ITR, and I keep my credit card spending below 10L to avoid trouble.

Cc Payments >10L in fy shows up in ais. banks can report to itd for any amount. And staying just below 10L is more suspicious. If you spend 8L in 4 months, and stop at 9.5L(lets say) after 6m, it is definitely more suspicious than someone who regularly spends around 75kpm. And this 10L in fy is across all cc by an issuer . So Most likely you have already crossed that mark.

I have BizBlack, so I don't want to get DCB; it's kind of the same. I don't file taxes for myself, and so I don't have any business expenses on it, like utility bills with high amounts. So I didn't find BizBlack very rewarding for me. You still think I should not convert my BizBlack to Infinia?

If you don't have business expenses then ask for infinnia upgrade. But try to spread your expenses across and don't cross 9L in a fy on one issuer. (Because you don't file itr. Had your itr been more, it wouldn't be an issue.)