Card suggestion for 3 lakh monthly Insurance spend

[Virgo]

Hi all, I have monthly insurance spends of 3 lakh (3 policies with 1 lakh premium) besides my other household expenses. I hold Axis Magnus, Amex Plat Charge, SC Ultimate and Diners Black (besides others). Previously, I used to buy Amazon Pay GV from multiple places (Amazon itself, Amex Rewards Multiplier, Axis Grab Deals, SBI Yono Gyftr etc) to pay for my insurance premiums spread across various cardsI hold.

However, over a period of time, most of the avenues to buy Amazon Pay GVs have stopped or imposed restrictions. Last couple of months, i am loading payzapp via SC Ultimate and paying my premiums. Unfortunately, the voucher redemption options for Ultimate have deteriorated over the last 3-4 months (no Big basket or MMT or Croma vouchers available now).

Hence my request for suggestions for a new credit card which allows points for insurance spends. I know Magnus allows points for insurance spends of 1 lakh. But where to put my spends after 1 lakh of Magnus? Does Axis Atlas or Reserve make sense for insurance spends? Any restrictions on these cards for insurance?

Thanks in advance.

 

[netsec]

Hi all, I have monthly insurance spends of 3 lakh (3 policies with 1 lakh premium) besides my other household expenses. I hold Axis Magnus, Amex Plat Charge, SC Ultimate and Diners Black (besides others). Previously, I used to buy Amazon Pay GV from multiple places (Amazon itself, Amex Rewards Multiplier, Axis Grab Deals, SBI Yono Gyftr etc) to pay for my insurance premiums spread across various cardsI hold.

However, over a period of time, most of the avenues to buy Amazon Pay GVs have stopped or imposed restrictions. Last couple of months, i am loading payzapp via SC Ultimate and paying my premiums. Unfortunately, the voucher redemption options for Ultimate have deteriorated over the last 3-4 months (no Big basket or MMT or Croma vouchers available now).

Hence my request for suggestions for a new credit card which allows points for insurance spends. I know Magnus allows points for insurance spends of 1 lakh. But where to put my spends after 1 lakh of Magnus? Does Axis Atlas or Reserve make sense for insurance spends? Any restrictions on these cards for insurance?

Thanks in advance.

I would suggest Axis Reserve or Citi Prestige.

 

[CardSeeker]

Hi all, I have monthly insurance spends of 3 lakh (3 policies with 1 lakh premium) besides my other household expenses. I hold Axis Magnus, Amex Plat Charge, SC Ultimate and Diners Black (besides others). Previously, I used to buy Amazon Pay GV from multiple places (Amazon itself, Amex Rewards Multiplier, Axis Grab Deals, SBI Yono Gyftr etc) to pay for my insurance premiums spread across various cardsI hold.

However, over a period of time, most of the avenues to buy Amazon Pay GVs have stopped or imposed restrictions. Last couple of months, i am loading payzapp via SC Ultimate and paying my premiums. Unfortunately, the voucher redemption options for Ultimate have deteriorated over the last 3-4 months (no Big basket or MMT or Croma vouchers available now).

Hence my request for suggestions for a new credit card which allows points for insurance spends. I know Magnus allows points for insurance spends of 1 lakh. But where to put my spends after 1 lakh of Magnus? Does Axis Atlas or Reserve make sense for insurance spends? Any restrictions on these cards for insurance?

Thanks in advance.

monthly 1lakh insurance premium ?
thats huge

 

[Virgo]

monthly 1lakh insurance premium ?
thats huge

3 not 1

All ULIPs

 

[Virgo]

@TechnoFino @Abhishek012 @Wealth is my birth right! @SiddharthR
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@Unknown1
Any suggestions guys

 

[Virgo]

I would suggest Axis Reserve or Citi Prestige.

Thanks. Does Reserve give points on insurance spends? Any cap on the points in a month?

 

[Theo]

Tata HDFC Neu Infinity - 5 Neu Coins per 100

Axis Reserve will also give 15 Edge Points for Every 200

 

[Virgo]

Tata HDFC Neu Infinity - 5 Neu Coins per 100

Axis Reserve will also give 15 Edge Points for Every 200

Thanks for the reply.

I have Neu Infinity but there is a cap of 2000 points per transaction for insurance spends. Also, Neu app has fair usage policy. In case of bill payment category, the spends cap is 50k only.

I am inquisitive about Axis Reserve. Any caps on points on insurance spends?

 

[thegame]

seeing the current list of CCs, Axis LIC Signature card seems the best bet as you will get 2% CB in vouchers from their catalogue which has Amazon and FK.. haven't tried it personally but seeing the current state of CB/Rewards/decreasing avenues of Apay vouchers etc. I guess this might be it unless Axis pulls the plug on this soon..

LIC Signature Credit Card - LIC Cards

www.liccards.co.in

 

[thegame]

Tata HDFC Neu Infinity - 5 Neu Coins per 100

Axis Reserve will also give 15 Edge Points for Every 200

Tata Neu Infinity has a cap of 50k only per month for bill payments for 5% coins and OP has 3L to pay per month..

 

[Virgo]

seeing the current list of CCs, Axis LIC Signature card seems the best bet as you will get 2% CB in vouchers from their catalogue which has Amazon and FK.. haven't tried it personally but seeing the current state of CB/Rewards/decreasing avenues of Apay vouchers etc. I guess this might be it unless Axis pulls the plug on this soon..

LIC Signature Credit Card - LIC Cards

www.liccards.co.in

Thanks. My ULIPs are not with LIC but with Tata AIA so this does not work for me

 

[yashbhavnani]

Hi all, I have monthly insurance spends of 3 lakh (3 policies with 1 lakh premium) besides my other household expenses. I hold Axis Magnus, Amex Plat Charge, SC Ultimate and Diners Black (besides others). Previously, I used to buy Amazon Pay GV from multiple places (Amazon itself, Amex Rewards Multiplier, Axis Grab Deals, SBI Yono Gyftr etc) to pay for my insurance premiums spread across various cardsI hold.

However, over a period of time, most of the avenues to buy Amazon Pay GVs have stopped or imposed restrictions. Last couple of months, i am loading payzapp via SC Ultimate and paying my premiums. Unfortunately, the voucher redemption options for Ultimate have deteriorated over the last 3-4 months (no Big basket or MMT or Croma vouchers available now).

Hence my request for suggestions for a new credit card which allows points for insurance spends. I know Magnus allows points for insurance spends of 1 lakh. But where to put my spends after 1 lakh of Magnus? Does Axis Atlas or Reserve make sense for insurance spends? Any restrictions on these cards for insurance?

Thanks in advance.

If axis reserve has a cap on points for insurance spends then might I suggest 2 offbeat cards that usually not many go for; 1) Kotak white reserve and 2) Kotak white.

You can check if the rewards are to your liking in details on the Kotak website but here’s a brief. Both These cards are no non sense cards ie spend anywhere cards. All your spends are counted and rewards are based on spend milestones only.

Here’s an idea of the rewards:
1) While Kotak white will reward you for your spends upto 12 L only per card anniversary year, you will get 27000 worth Kotak white pass redeemable for Amazon/Tanishq etc. this gives you : a 2.25% return on your spends upto 12 L.
2) White reserve will reward you till 100 L in an anniversary year. Since you mentioned 3L per month, you can get 92000 worth white pass on spending 40 L in an anniversary year : a 2.30 % return on your spends.

Check their website for details.

Maybe you can split your insurance spends between Kotak white and axis reserve/Amazon gv via Amex/ Amazon gv via Magnus/diners and all other cards which allow Amazon gv purchase.

Hope this helps

 

[thegame]

Thanks. My ULIPs are not with LIC but with Tata AIA so this does not work for me

oh ok ok.. my bad as seeing the word "insurance" LIC was the first thing to come up in my mind..

 

[Virgo]

If axis reserve has a cap on points for insurance spends then might I suggest 2 offbeat cards that usually not many go for; 1) Kotak white reserve and 2) Kotak white.

You can check if the rewards are to your liking in details on the Kotak website but here’s a brief. Both These cards are no non sense cards ie spend anywhere cards. All your spends are counted and rewards are based on spend milestones only.

Here’s an idea of the rewards:
1) While Kotak white will reward you for your spends upto 12 L only per card anniversary year, you will get 27000 worth Kotak white pass redeemable for Amazon/Tanishq etc. this gives you : a 2.25% return on your spends upto 12 L.
2) White reserve will reward you till 100 L in an anniversary year. Since you mentioned 3L per month, you can get 92000 worth white pass on spending 40 L in an anniversary year : a 2.30 % return on your spends.

Check their website for details.

Maybe you can split your insurance spends between Kotak white and axis reserve/Amazon gv via Amex/ Amazon gv via Magnus/diners and all other cards which allow Amazon gv purchase.

Hope this helps

Thanks for the detailed reply. I will definitely give these cards good consideration. Historically, my no nonsense card used to be SC Ultimate giving 3.33% but lately they have removed most of the good voucher redemptions.

 

[Virgo]

oh ok ok.. my bad as seeing the word "insurance" LIC was the first thing to come up in my mind..

True that

 

[yashbhavnani]

Y

Thanks for the detailed reply. I will definitely give these cards good consideration. Historically, my no nonsense card used to be SC Ultimate giving 3.33% but lately they have removed most of the good voucher redemptions.

Yes, in a way these two cards are somewhat similar to sc ultimate with a lower reward rate but ya their white pass has some good value useful vouchers which is why you can consider them.

 

[Theo]

Thanks for the reply.

I have Neu Infinity but there is a cap of 2000 points per transaction for insurance spends. Also, Neu app has fair usage policy. In case of bill payment category, the spends cap is 50k only.

I am inquisitive about Axis Reserve. Any caps on points on insurance spends?

Axis Reserve has no cap, I have an e-mail to that effect

Thx for updating on Tata Neu

 

[arko]

Thanks. My ULIPs are not with LIC but with Tata AIA so this does not work for me

You know that ULIP are money making policy for agents not you. Never buy Ulips

 

[Rohith_Kumar_Sp]

Also amazon has stopped accepting credit card for insurances premium, you might have to pay directly. Hdfc millennia gives 1%

 

[churn]

@Virgo Is it possible to split your transactions in 1L components? Also in that case do you have magnus. I saw the following image shared in another forum. Check if it helps you.