Can review my credit card portfolio ?

[apputennis]

Can you review my credit card portfolio

1) infinia LTF - insurance , travel , flights , hotels , kids school fees , groceries etc
2) axis Indian oil rupay LTF - fuel and UPI transactions
3) SBI cashback - for online shopping amz , Flipkart , Myntra etc
4) Amex MRCC - wallet reloads and rest spends to meet 1.5L milestone

Can you also suggest cards for govt payments as infinia not giving points

Applied axis Airtel for utility payments but it's hold 🙁

Will infinia Amazon vouchers better for utility bills and wallet reloads so that I can cancel my MRCC .

Suggest please

 

[sidp]

Can you also suggest cards for govt payments as infinia not giving points

Idfc wealth. Try c2c with infinnia. Put salary >3L

 

[HumorSimpson]

Will infinia Amazon vouchers better for utility bills and wallet reloads so that I can cancel my MRCC .

Yes. Good decision to get rid of it.

As of now, IDFC wealth cc is the only card rewarding govt transactions.

 

[HumorSimpson]

Off topic : how did you get infinia Ltf?

 

[Vasuki]

Can you review my credit card portfolio

1) infinia LTF - insurance , travel , flights , hotels , kids school fees , groceries etc
2) axis Indian oil rupay LTF - fuel and UPI transactions
3) SBI cashback - for online shopping amz , Flipkart , Myntra etc
4) Amex MRCC - wallet reloads and rest spends to meet 1.5L milestone

Can you also suggest cards for govt payments as infinia not giving points

Applied axis Airtel for utility payments but it's hold 🙁

Will infinia Amazon vouchers better for utility bills and wallet reloads so that I can cancel my MRCC .

Suggest please

Here you have the answer

Idfc wealth. Try c2c with infinnia. Put salary >3L

When u have Rupay cc .? Why u want wallet reload?
For insurance payment - idfc wealth

Mrcc - you should not cancel bcz Infinia might get devalue & u will be left with nothing in terms of buying voucher.
For 10 k month mrcc give much better return

 

[Vasuki]

Off topic : how did you get infinia Ltf?

Paisa muh p maar k - bm ko 😅😅

 

[apputennis]

Off topic : how did you get infinia Ltf?

I got infinia LTF in 2021 Jan after my regalia and long relationship with HDFC credit cards 🙂 Recently got infinia renewal card too .

 

[HumorSimpson]

For 10 k month mrcc give much better return

In percentage
?

 

[apputennis]

Yes. Good decision to get rid of it.

As of now, IDFC wealth cc is the only card rewarding govt transactions.

Yes . Need to spend MRCC 1.5L that pressure is there . Except milk and bb daily apps I don't use much this card so hardly it will touch 75k per year .

 

[Vasuki]

In percentage
?

1500*4
Close to 6% something .. i will update it i get the post with calculation..
But 6+% is correct

COURTESY - @coolguy1
3. REWARDS

How can we forget the most important point? If it's not rewarding, it's not worth it.
With MRCC, you just need to spend ₹6000 to get 1000 MR points which offers an insane 16.67% returns*.
Spend more and hit ₹20,000 and get 2000 bonus MR points(10% returns*)

Not to forget these are just bonus points, you get an additional points for 1 MR point for every ₹50 that you spend on the card.
If you spend smartly and get vouchers, you can even get 2 MR points for every ₹50!
(Use the Amex Gyftr multiplier page to buy vouchers with multiplier rewards)

That's 1240 points for every ₹6,000 spent which is 20.66% returns, one of the highest in the credit cards industry.

OR 2800 points for every ₹20,000 spent which is 14% returns, still pretty amazing.

And how much does it cost?

FREE for the first year!
₹1500 for the second year(can be negotiated with CC based on your spends)

Thread 'American Express MRCC Card Benefits and Optimal Usage' https://www.technofino.in/community...s-mrcc-card-benefits-and-optimal-usage.19743/

 

[apputennis]

Here you have the answer

When u have Rupay cc .? Why u want wallet reload?
For insurance payment - idfc wealth

Mrcc - you should not cancel bcz Infinia might get devalue & u will be left with nothing in terms of buying voucher.
For 10 k month mrcc give much better return

Rupay wallet reloads points will get ?
Amex MRCC I took only for wallet reloads .
Ya if Amazon gift voucher via infinia credit card 10-15k can address my wallet reloads and utility bills then I can cancel MRCC and not think of Airtel axis card also

 

[Gaara]

Can you also suggest cards for govt payments as infinia not giving points

The SC Smart Credit Card offers a cashback range of 1% to 2% on government payments. Interestingly, ICICI’s Amazon Pay Credit Card also provides a similar 1% cashback on certain government portals.
Oh boy, 1% and 2% cashback, wouldn't excite premium card users! as they get unicorn-level rewards. 😹

 

[apputennis]

1500*4
Close to 6% something .. i will update it i get the post with calculation..
But 6+% is correct

COURTESY - @coolguy1
3. REWARDS

How can we forget the most important point? If it's not rewarding, it's not worth it.
With MRCC, you just need to spend ₹6000 to get 1000 MR points which offers an insane 16.67% returns*.
Spend more and hit ₹20,000 and get 2000 bonus MR points(10% returns*)

Not to forget these are just bonus points, you get an additional points for 1 MR point for every ₹50 that you spend on the card.
If you spend smartly and get vouchers, you can even get 2 MR points for every ₹50!
(Use the Amex Gyftr multiplier page to buy vouchers with multiplier rewards)

That's 1240 points for every ₹6,000 spent which is 20.66% returns, one of the highest in the credit cards industry.

OR 2800 points for every ₹20,000 spent which is 14% returns, still pretty amazing.

And how much does it cost?

FREE for the first year!
₹1500 for the second year(can be negotiated with CC based on your spends)

Yes these are good rewards . I used from last 3 years . My amex MRCC not referral card . Hence renewal fee is 4500rs . Hence thinking to cancel as use Amazon gift card via infinia via gift platform for wallet reload .

 

[apputennis]

The SC Smart Credit Card offers a cashback range of 1% to 2% on government payments. Interestingly, ICICI’s Amazon Pay Credit Card also provides a similar 1% cashback on certain government portals.
Oh boy, 1% and 2% cashback, wouldn't excite premium card users! as they get unicorn-level rewards. 😹

Yes I heard of SC smart card . Idfc wealth is ltf and also it can take care 3 areas
1) Insurance premium ( infinia capped at 5k rp )
2) govt payments
3) movies also heard good offers

 

[HumorSimpson]

1500*4
Close to 6% something .. i will update it i get the post with calculation..
But 6+% is correct

COURTESY - @coolguy1
3. REWARDS

How can we forget the most important point? If it's not rewarding, it's not worth it.
With MRCC, you just need to spend ₹6000 to get 1000 MR points which offers an insane 16.67% returns*.
Spend more and hit ₹20,000 and get 2000 bonus MR points(10% returns*)

Not to forget these are just bonus points, you get an additional points for 1 MR point for every ₹50 that you spend on the card.
If you spend smartly and get vouchers, you can even get 2 MR points for every ₹50!
(Use the Amex Gyftr multiplier page to buy vouchers with multiplier rewards)

That's 1240 points for every ₹6,000 spent which is 20.66% returns, one of the highest in the credit cards industry.

OR 2800 points for every ₹20,000 spent which is 14% returns, still pretty amazing.

And how much does it cost?

FREE for the first year!
₹1500 for the second year(can be negotiated with CC based on your spends)

Thread 'American Express MRCC Card Benefits and Optimal Usage' https://www.technofino.in/community...s-mrcc-card-benefits-and-optimal-usage.19743/

I guess those 20+ or 14+ rewards are when redeemed for Tanishq. Recently AGV redemption too devalued.
As of now, MRCC is MDC.

 

[HumorSimpson]

The SC Smart Credit Card offers a cashback range of 1% to 2% on government payments. Interestingly, ICICI’s Amazon Pay Credit Card also provides a similar 1% cashback on certain government portals.
Oh boy, 1% and 2% cashback, wouldn't excite premium card users! as they get unicorn-level rewards. 😹

SC redemption is pretty much pathetic. IDFC Wealth CC gives 1.5% for first 30k and 2.5 later on.

 

[Vasuki]

I guess those 20+ or 14+ rewards are when redeemed for Tanishq. Recently AGV redemption too devalued.
As of now, MRCC is MDC.

That's for gold charge

 

[HumorSimpson]

@DocFixIt
Analysis for MRCC

Membership Rewards Card | Membership Rewards | Amex IN

The American Express Membership Rewards Credit Card offers Membership Rewards points to spend on dining, shopping and travel. Apply today to know more!

www.americanexpress.com

Earn 1,000 Bonus Membership Rewards Points for simply using your card 4 times on transactions of Rs. 1,500 or above in a calendar month.

Earn an additional 1,000 Membership Rewards points simply by spending INR 20,000 or more in a calendar month.

Earn 1 Membership Rewards® Point for every2 Rs. 50 spent except for spend on Fuel, Insurance, Utilities, Cash Transactions and EMI conversion at Point of Sale2.

So to max it, lets say we use 5K four times in a month.

Spends in a month = 20,000 inr
Rewards in a month = 1000 + 1000 + (20000/50) = 2,400 pts

Over an year :
spends = 2,40,000 inr
rewards = 28,800 pts

AGV voucher worth 8,000 for 24,000 pts

To simplify calculations, for 28800 effectively 8000*(28800/24000) = 9,600 inr


9600*100/240000 = 4%

Let me know if I am missing anything.

 

[Vasuki]

@DocFixIt
Analysis for MRCC

Membership Rewards Card | Membership Rewards | Amex IN

The American Express Membership Rewards Credit Card offers Membership Rewards points to spend on dining, shopping and travel. Apply today to know more!

www.americanexpress.com

So to max it, lets say we use 5K four times in a month.

Spends in a month = 20,000 inr
Rewards in a month = 1000 + 1000 + (2000/50) = 2,400 pts

Over an year :
spends = 2,40,000 inr
rewards = 28,800 pts

AGV voucher worth 8,000 for 24,000 pts

To simplify calculations, for 28800 effectively 8000*(28800/24000) = 9,600 inr


9600*100/240000 = 4%

Let me know if I am missing anything.

Not going into calculation but 4% should be ok on Entry lvl card ..
When i will get mrcc i will crush you with my calculations 😅😅 with my poor maths

 

[HumorSimpson]

Yes . Need to spend MRCC 1.5L that pressure is there . Except milk and bb daily apps I don't use much this card so hardly it will touch 75k per year .

Then get rid of it.