Credit card for ~1L per month regular spends

[rogerthat]

I have on an average spends of nearly one lakh every month. Well, some months it can be below 40K but some months more than 2L. All these are regular family spends: groceries, fuel, utilities, a lot of offline retail purchases big and small of all categories, quite a bit of online shopping (mostly Amazon), movies, dining out, education fees, insurance premiums, wallet loads, and so on, you get the gist.

I had a smattering of around 10 credit cards which I used to distribute spends among for the best returns. Of course I took the Axis Magnus (and add-ons with great difficulty) and for the past many months I have been consolidating all spends on it alone. Achieved milestone on 3/5 months. And today this happens. For all intents and purposes the Magnus card is now useless and I will close it before the next renewal.

So, the question is what would be the best card available for average monthly spends of around 1 lakh?

Magnus is the only premium card I have. HDFC keeps refusing to upgrade me (DCP) to Infinia. They say I need a salary credit of 3L+ per month but I earn only around half of that. Acceptance of Amex and DCB very poor online and offline is nearly non-existent. Even my kids school website does not accept them.

It looks like there is no product in the market that caters to people like me. Stuck with pretentious mid-level cards like Axis Select and SBI Prime that give only 2% returns with heavy annual fees. Sad.

 

[RaviAglRaviAgl is verified member.]

I don't know how much magnus has devalued for everyone to lose interest but you were already following the proper strategy - distribution of spends among all the cards which offer greatest returns.

I would suggest that you juggle and rework your card spends once again.

Hdfc Millenia
Sbi CASHBACK
Sbi Bpcl Octane
Axis ace
Axis Airtel (only if you have a good number of Airtel connections and an Airtel fiber connection to add it up).

If you work carefully and have the above portfolio then you should be able squeeze 3.5% to 5% on all of them combined.

That's the maximum return in my opinion.

Other than that, if you are into hotel loyalty points and airmiles, then maybe you should check out those particular sections of TF forums.

Thanks!!