Credit card portfolio optimization

[psk3005]

Hi All,

This is my second post on this Forum 🙂
I am already enjoying this forum since it is very helpful.

I want some suggestions from the community regarding the credit cards i hold.
Also need inputs from you on re-balancing my credit card portfolio.

My monthly salary is around 1.5 lakhs per month
and my spending are mostly mix of fuel / groceries / frequent online shopping from flipkart & amazon / swiggy and zomato (not for food delivery but dineout).

I have the following credit cards in my arsenal along with their credit limit and usages and if they are paid or ltf :

1. hdfc regalia first - CL 2,26,000 - LTF - tried to upgrade or increase limit - but no LE or upgrade offer. I am holding this card since last 10 years - so not planning to close this card
2. hdfc regalia (my sister's credit card which i manage and use) - CL - 4,08,000 - LTF - they are offering upgrade to Millenia, that too only FYF 🙁 -
I don't mind upgrade to regalia gold even if it is fyf.
3. icici amazon pay - CL 6,10,000 - LTF - for 5% cb on amazon
4. icici hpcl super saver - CL 6,70,000 - paid card - but I am easily able to attain spend based reversal, kept it for online offers and fuel at hpcl pumps.
5. flipkart axis - CL 2,57,000 - paid - for 5% cb on fk
6. hsbc platinum - CL 92,000 - LTF - since I have salary account - they are also ready to give the hsbc cashback/live+ card, but doesn't look like a worthy card.
7. sbi simply click - CL 2,60,000 - paid - I use it mainly online and use the reward points for amazon prime membership and amazon pay vouchers and also online offers
8. hdfc upi rupay floater card - FYF - shared limit with the hdfc regalia first card - use it for day to day upi transactions.

I am getting married at the end of Dec this year, and planning to go for a International honeymoon in January next year,
So I was wondering which credit card would be beneficial which can help with me lounge benefits and also zero/low forex markup charges.
You can see that none of the credit cards above have a good share of lounge benefits for domestic and also no international lounge benefits apart from my sister's regalia card via priority pass membership, but I have heard that in most pp lounges the name on cc should match with name on boarding pass, so that might not work.

I also have the following paid upgrade offers :
1) sbi offering upgrade to aurum via the sbi card app for 10K + gst
2) icici offering upgrade to Emeralde via the imobile app for 12K + gst

I am not sure if any of the above 2 upgrades are worth the high fees,
even if i use it only for one year, Since I will not be able to attain the high target spends for annual fees reversal for a single card.

So for the conclusion, I am trying to look for a mid premium card which has good reward rate and benefits compared to price - which I can use as a primary card, I can also go with a temporary secondary card only for upcoming International travel and then close it if not required.

I can close non LTF cards from the above list, if they are not worth it to hold anymore.

Please forgive me and guide me if I am having unrealistic expectations and if such overall mid range card does not exists 🙂

Your comments / feedback / suggestions are welcome 🙂

 

[tachniki]

Sbi cashback will be useful for you. With that you can move online transactions from sbi simplyclick, axis flipkart (and ICICI amazon). Though card charges rs 1k plus gst. You can easily get it reversed with 2L spend a year. You could have used cashkaro for extra joining benefit but yoy already own another sbi card. So, that will not work.

For lounge access, you will not need one but two for honeymoon. So, you should get card which allows guest access or get two cards. Add on may not work till you are actually married.
One card i can think of is axis atlas. It gives 8 domestic and 4 international lounge access which can be shared with guests.

All the best.

 

[jhanishdev]

The best no-nonsense credit card lineup I suggest to almost everyone is

1. SBI cashback card.
2. RBL IOCL petro card.
3. Axis Airtel/ HSBC live+ depending on eligibility and usage.

One can add amex travel if it fits their usage.

Let other LTF cards be in your drawers for occassional benifits. HDFC in its current form is worst in customer service. Avoid.

 

[psk3005]

Sbi cashback will be useful for you. With that you can move online transactions from sbi simplyclick, axis flipkart (and ICICI amazon). Though card charges rs 1k plus gst. You can easily get it reversed with 2L spend a year. You could have used cashkaro for extra joining benefit but yoy already own another sbi card. So, that will not work.

So which is the best route to apply for SBI cashback ? Shall i apply it via their new sprint platform or sbi agent in the branch ?
also, do i close the existing simply click after i get the cashback card or close the simply click first and then apply for cashback card.

For lounge access, you will not need one but two for honeymoon. So, you should get card which allows guest access or get two cards. Add on may not work till you are actually married.
One card i can think of is axis atlas. It gives 8 domestic and 4 international lounge access which can be shared with guests.

I tried checking via axis open app they are only giving me axis select card that too paid upgrade,
Will axis allow me to apply Atlas as a fresh card apart from my flipkart axis ?

Also even if the card does not have a guest access, is there a possibility that i can get a entry/mid level card on her name (her annual income is around 7 lakhs) which gives at least 1 international lounge access ?

Also which card would be good for low/zero forex charges ? and if along with that it has international lounge access, then it will be icing over the cake.

 

[Dazzwilliams]

You can consider Yes Marquee

 

[tachniki]

which is the best route to apply for SBI cashback

Try applying using sprint first.

do i close the existing simply click

You may still like to have simplyclick for using it during amazon / flipkart sale. SBI cashback doesn't work on it.

Will axis allow me to apply Atlas as a fresh card apart from my flipkart axis ?

Try out fresh application. You qualify eligibility.

is there a possibility that i can get a entry/mid level card

Tata Neu infinity gives lounge access. Or possibly some LTF IDFC first card gives spend based lounge access. Dont have IDFC card.

Also which card would be good for low/zero forex charges

FD backed IDFC wow card looks good. But not used. Please research.

 

[sivareddy_25]

RBL world safari card will give zero forex charges but it is 3000+GST for the same you will get make my trip voucher worth 3000

 

[psk3005]

I have received an pre approved offer for Adani card, which says 0 joining fees, Can i consider getting that ? Since that will be free at least for the 1st year.
It might solve problem for me for lounge access temporary.
Is that card beneficial in the long run ?

 

[Jolly Roger]

I am getting married at the end of Dec this year, and planning to go for a International honeymoon in January next year,
So I was wondering which credit card would be beneficial which can help with me lounge benefits and also zero/low forex markup charges.
You can see that none of the credit cards above have a good share of lounge benefits for domestic and also no international lounge benefits apart from my sister's regalia card via priority pass membership, but I have heard that in most pp lounges the name on cc should match with name on boarding pass, so that might not work.

A good LTF card for international lounge access is IndusInd Tiger. You get a Priority Pass which gives free access to an international lounge twice a year. And not spend-based.

Forex mark-up charge is also 1.5% which is on the lower side as compared to many cards (yes there are zero mark-up cards too).

Considered one of the best LTF cards now. You can read about the card on many forums and apply for it from: https://bit.ly/3Sd0ynk (link has nothing to do with me and is not a referral link for me).