Buying a new car using CC - Pls suggest which one to use?

[_ayush]

I am trying to get Infinia for a long time, spoke to even the RM & BM, but its invite only.

Its not invite only. Just the eligibility criteria is not exactly public. RM and BM are useless. Most of them don't know much apart from selling policies.
What is your current credit limit on DCB?
The current upgrade criteria for Infinia is 9L+ spends in 6 months and 8L+ credit limit. If you satisfy both, upgrade through PNO is possible.

 

[Solitaire]

Its not invite only. Just the eligibility criteria is not exactly public. RM and BM are useless. Most of them don't know much apart from selling policies.
What is your current credit limit on DCB?
The current upgrade criteria for Infinia is 9L+ spends in 6 months and 8L+ credit limit. If you satisfy both, upgrade through PNO is possible.

Current limit in DCB - 10.3L. What is PNO? (sorry for the noob question)

I hope they'll provide INFINIA after this purchase, but the whole point is how best the current cards can be leveraged. pls suggest

 

[Avatar Aang]

IMO first check the MCC code and make sure its not fuel.
If you can complete 10L spends in 6 months on DCB then you have a good chance to get Infinia based on the spends criteria.
I suggest you get a Amex Plat Travel if amex is accepted and complete 4L milestone. You will get 48K MR points +10K Taj voucher which is worth approx 31K Rs. (MR @50p/ point and selling taj voucher @30% discount)

 

[BVCBVC is verified member.]

Current limit in DCB - 10.3L. What is PNO? (sorry for the noob question)

I hope they'll provide INFINIA after this purchase, but the whole point is how best the current cards can be leveraged. pls suggest

Principal Nodal Officer.

 

[karanssh]

currently they are asking for 2%, I can negotiate to 1% or 1.25%. However, I'm not sure if it makes sense to make the purchase thru credit card. Confusion at the moment. 🤔

car inventories are piling up, most dealerships have no choice and are desperate. You are in position of power. Let them eat up the 2%, otherwise move to some other dealer.

 

[_ayush]

Even if he might hit the spend limit on DCB with this txn, his CL should be at least 8L to request the infinia upgrade

His CL is 10.3L.

Current limit in DCB - 10.3L. What is PNO? (sorry for the noob question)

I hope they'll provide INFINIA after this purchase, but the whole point is how best the current cards can be leveraged. pls suggest

So CL would not be a problem. Just check the merchant category code by doing a dummy transaction as suggested by others. If it's eligible for RPs, you can use DCB. Make sure your spends are above 9L on DCB in last 6 months. That'll make you eligible for Infinia.

 

[KK001]

Hi Fam,

I am planning to buy a new car (new Magnite) using credit card for reward poins. I need your suggestion on how to split the cost of 12.5 Lakhs. Below are the cards I currently hold:

a) HDFC Diners Club International - Black (PVC)
b) Amex Gold Charge Card
c) HSBC Cashback
d) Icici Amazon Pay
e) IDFC First Select
f) SBI Simply Save card

Please suggest, I can also wait to complete this purchase or buy new Amex/HDFC CC to plan in next 2-3 months. As there are no discounts or offers for the new Magnite. So, there is no point in hurrying to buy this car, rather I can wait based on your suggestions.

TIA for your guidance.

Bro, you should only consider taking a car loan or buying on credit in cases of extreme emergencies. Otherwise, it feels like unnecessarily giving away a few extra lakhs to the bank just because you're unable to afford the car upfront.

If your salary is ₹50,000, start saving or investing today. Once you have ₹13 lakh in your account, buy the car outright.

By then, there might even be a better model available at the same price.

I had never purchased anything on EMI till date. Yes I do use cc but payoff without any interest.

This is just my personal opinion.

 

[_ayush]

Bro, you should only consider taking a car loan or buying on credit in cases of extreme emergencies. Otherwise, it feels like unnecessarily giving away a few extra lakhs to the bank just because you're unable to afford the car upfront.

If your salary is ₹50,000, start saving or investing today. Once you have ₹13 lakh in your account, buy the car outright.

By then, there might even be a better model available at the same price.

I had never purchased anything on EMI till date. Yes I do use cc but payoff without any interest.

This is just my personal opinion.

Where did the OP mention about taking a loan?