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.

 

[srikant]

The good news about Kotak is they give good LE on a consistent basis

They gave me 1.05L -- even when I viewed the virtual card and set pin, I was suggested to give income proof to get limit increase. Wondering what proof to send -- they have existing card, pay slip and bank statement as options. I have existing PNB card for 1.5L limit. I'll probably wait for this month's pay slip and send it.

Do card issuers raise limit if they see consistent high spend? Like 20-40% of limit? Then it's a bit of a catch-22 for me -- I won't be able to spend high without 4L+ limit (which I can use for the policy), and I can't get high limit without high spend! I'm thinking if I should give some "pre-approved" high-limit card from "spam" callers a chance!

 

[federer.reddevil]

They gave me 1.05L -- even when I viewed the virtual card and set pin, I was suggested to give income proof to get limit increase. Wondering what proof to send -- they have existing card, pay slip and bank statement as options. I have existing PNB card for 1.5L limit. I'll probably wait for this month's pay slip and send it.

Do card issuers raise limit if they see consistent high spend? Like 20-40% of limit? Then it's a bit of a catch-22 for me -- I won't be able to spend high without 4L+ limit (which I can use for the policy), and I can't get high limit without high spend! I'm thinking if I should give some "pre-approved" high-limit card from "spam" callers a chance!

When do you have to pay for the policy?

Kotak gives 2-3x limit after 6 months of previous LE

I got increased from 20k (based on Kotak 811 account) to 60k to 180k all in just 10 months

Total usage is around 20k in 10months

 

[Deleted member 11974]

Hi i had the following cards and i wanted to know which is the best card for insurance payments and through which payment portal.
Citi Premier
ICICI Sapphiro
Yes First Exclusive
Stanchart Priority Banking
Amex Plat travel
IDFC First Select
Indusind Pinnacle
SBI Irctc Premier
HDFC regalia
HDFC nue both cards
HDFC infinia
RBL icon

 

[Paras Jain]

Hi i had the following cards and i wanted to know which is the best card for insurance payments and through which payment portal.
Citi Premier
ICICI Sapphiro
Yes First Exclusive
Stanchart Priority Banking
Amex Plat travel
IDFC First Select
Indusind Pinnacle
SBI Irctc Premier
HDFC regalia
HDFC nue both cards
HDFC infinia
RBL icon

How do u have 4 hdfc cards 😧

 

[4uziaul]

How do u have 4 hdfc cards 😧

4 or you mean 3 🤣

 

[Paras Jain]

4 or you mean 3 🤣

4 bro, its mentiond regalia, infinia and neu both variants

 

[4uziaul]

4 bro, its mentiond regalia, infinia and neu both variants

They will deactivate plus for sure.

 

[vigo]

For the original question, I think spend 4 lac on Amex plat travel card and thereafter on Axis magnus.

 

[srikant]

When do you have to pay for the policy?

Kotak gives 2-3x limit after 6 months of previous LE

I got increased from 20k (based on Kotak 811 account) to 60k to 180k all in just 10 months

Total usage is around 20k in 10months

I need to pay next April.

20k in 10 months -- I.e., like average of 2k / month? That's indeed a modest usage -- a healthy level even for a 20k limit! I have a usage of 15k to do on the Urbane anyway to get the annual fee waived.

Should get my payslip on 31 May, hoping they still have the "submit income proof for limit raise", I'll do it. My April payslip has slightly more than usual deductions, so not giving that.

Unless they give another big raise by themselves, I'll ding them again once my returns are assessed. I plan to do that for all my cards this time -- and henceforth, indeed. I think I've been stuck with my somewhat low limits too long because I didn't have this practice of asking at reasonable intervals.

 

[federer.reddevil]

I need to pay next April.

20k in 10 months -- I.e., like average of 2k / month? That's indeed a modest usage -- a healthy level even for a 20k limit! I have a usage of 15k to do on the Urbane anyway to get the annual fee waived.

Should get my payslip on 31 May, hoping they still have the "submit income proof for limit raise", I'll do it. My April payslip has slightly more than usual deductions, so not giving that.

Unless they give another big raise by themselves, I'll ding them again once my returns are assessed. I plan to do that for all my cards this time -- and henceforth, indeed. I think I've been stuck with my somewhat low limits too long because I didn't have this practice of asking at reasonable intervals.

Yeah thats why I like Kotak its not like 2k/month once i had offer on flight 10k got for 8k then some other 2 month got 3.5k down to 2k something in Eazydiner

Other than that almost negligible use except during any sale

 

[Deleted member 11974]

How do u have 4 hdfc cards 😧

4 across all my family members

 

[Paras Jain]

4 across all my family members

That make sense now 😂

 

[Paras Jain]

4 across all my family members

That make sense now 😂

 

[Paras Jain]

4 across all my family members

That make sense now 😂

 

[Vaibhav Anand]

Hi All,

My father has insurance premium to pay next month for 5L and he has some other premiums also to pay of 3L twice and 2L once in this year. Which would be best cc for this payment ?

I have Axis Magnus but it won't give RP more than 6000 and it's not possible to divide this premium amount in multiple of 1L .

 

[theglobalinvestor]

3 not 1

All ULIPs

My advise would be to first get rid of the ulips and separate your insurance and investments.

 

[oneeightone]

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..

Hi @thegame - would you know if this is applicable only by paying from the "Tata Pay" section of the Neu app?
Also, would this be applicable for LIC Payments? Unable to find LIC in the insurance drop down on Tata Pay 😔

Any guidance would REALLY help!

 

[Virgo]

Hi @thegame - would you know if this is applicable only by paying from the "Tata Pay" section of the Neu app?
Also, would this be applicable for LIC Payments? Unable to find LIC in the insurance drop down on Tata Pay 😔

Any guidance would REALLY help!

Yes, the 5% coins are only available on making payment through Tata Pay section of Neu app. Any insurer not present in that list will not be eligible

 

[oneeightone]

Yes, the 5% coins are only available on making payment through Tata Pay section of Neu app. Any insurer not present in that list will not be eligible

Thanks for confirming ..

 

[thegame]

Yes, the 5% coins are only available on making payment through Tata Pay section of Neu app. Any insurer not present in that list will not be eligible

Hi @thegame - would you know if this is applicable only by paying from the "Tata Pay" section of the Neu app?
Also, would this be applicable for LIC Payments? Unable to find LIC in the insurance drop down on Tata Pay 😔

Any guidance would REALLY help!

as mentioned by @Virgo it has to be via Tata Neu App and applicable only to those vendors in the Bill payment categories where LIC is not there unfortunately 🙁