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Credit card suggestion for 18L annual Online usage

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geekvinu

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Hello Everyone,

I am looking for a new Credit Card and would really appreciate suggestion from the members here on the best Credit Card for me.

I currently have a HDFC Regalia LTF credit card with 5.5L credit limit. I am approved for an upgrade to a FYF Regalia Gold card, and I have
not accepted it despite daily reminders from HDFC.

The card is primarily used for online payments of my dedicated server and cloud servers and other subscription charges. I also use the card on Amazon, but the volume is very low compared to the forex payments. I have an average monthly transaction volume of 1.5 Lakh. I don't travel much and don't need any lounge offers.

My current card (HDFC Regalia) has 3.5% forex markup fee. I believe this used to be 2% and they have recently increased it to 3.5%. I asked support whether they can upgrade me to Regalia Gold (2%) with LTF offer, but was turned down.

Yesterday I tried applying for a Tata Neu Infinity HDFC co-branded card, since they had a LTF offer running, and the card was approved but with 500 rupee annual charge. So I did not complete the Video KYC process.

I see that Scapia offers a LTF card with Zero Markup fee and I am considering applying for one.

Since each application makes a hard query to CIBIL, I would really appreciate your inputs on this. I don't require the credit facility and would be fine with a debit card too.

Which credit/debit/forex card would you recommend for me?
 
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Thank you for your suggestions.

I have > 1.15L guaranteed spend every month, with the some months going above 2L. But I am trying to bring the average down to around 1.3L by cutting down on several avoidable expense. All the expenses on my card are business expenses for my firm. In order to keep the accouting simple, I only use debit cards for personal payments.

It is interesting that you have suggested Premium cards with annual fee (though that would be waived in my case). Considering that I don't travel much and don't use the lifestyle offers (like dining out or golf), what benefits would the above Premium cards offer over a LTF card like Scapia?

The biggest advantage of Regalia was that I could redeem the reward points as Kalyan Gold Vouchers at 1RP = ₹0.25. But now they have increased the value of voucher. Now the best value I can get is 1RP = ₹0.2 with direct cash redumption.
 
Last edited:
geekvinu said:
Thank you for your suggestions.

I have > 1.15L guaranteed spend every month, with the some months going above 2L. But I am trying to bring the average down to around 1.3L by cutting down on several avoidable expense. All the expenses on my card are business expenses for my firm. In order to keep the accouting simple, I only use debit cards for personal payments.

It is interesting that you have suggested Premium cards with annual fee (though that would be waived in my case). Considering that I don't travel much and don't use the lifestyle offers (like dining out or golf), what benefits would the above Premium cards offer over a LTF card like Scapia?

The biggest advantage of Regalia was that I could redeem the reward points as Kalyan Gold Vouchers at 1RP = ₹0.25. But now they have increased the value of voucher. Now the best value I can get is 1RP = ₹0.2 with direct cash redumption.
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I think Scapia is not issuing cards right now. You can consider other zero forex cards such as - IDFC wow (FD backed), RBL World Safari or Au Ixigo
 
geekvinu said:
Thank you for your suggestions.

I have > 1.15L guaranteed spend every month, with the some months going above 2L. But I am trying to bring the average down to around 1.3L by cutting down on several avoidable expense. All the expenses on my card are business expenses for my firm. In order to keep the accouting simple, I only use debit cards for personal payments.

It is interesting that you have suggested Premium cards with annual fee (though that would be waived in my case). Considering that I don't travel much and don't use the lifestyle offers (like dining out or golf), what benefits would the above Premium cards offer over a LTF card like Scapia?

The biggest advantage of Regalia was that I could redeem the reward points as Kalyan Gold Vouchers at 1RP = ₹0.25. But now they have increased the value of voucher. Now the best value I can get is 1RP = ₹0.2 with direct cash redumption.
Click to expand...
you are not allowed to make business expenses on personal cards, the banks will block your card and take away the rewards.

You can however get BizBlack from HDFC which is equivalent to DCB, but it is on the Diners Network. You can also get the American Express cards and redeem it for amazon vouchers at a value of 1MR = 0.38rs but if you get it for Marriott, it can go upto 1rs per MR point.
 
LiamHouse said:
you are not allowed to make business expenses on personal cards, the banks will block your card and take away the rewards.
Click to expand...
I was not aware of that.

LiamHouse said:
You can however get BizBlack from HDFC which is equivalent to DCB, but it is on the Diners Network. You can also get the American Express cards and redeem it for amazon vouchers at a value of 1MR = 0.38rs but if you get it for Marriott, it can go upto 1rs per MR point.
Click to expand...
Do I apply for these cards in my name or in the business name?
 
geekvinu said:
I was not aware of that.


Do I apply for these cards in my name or in the business name?
Click to expand...
you can do both. on amex you can talk to them and give your gst number and they will allow you to use your personal card for business expenses. the issue with amex is the high fee for platinum charge and the best value back is by redemption on mariott properties. however, a few years in this ecosystem will get you a very good chunk of points that you can redeem for a 5-star vacation fully paid for by your payments.

if you do choose the amex route, i would recommend getting the trifecta first and maxing them out and only upgrade to the plat charge when you get the 140k mr points joining bonus offer which comes after a few months of high spends.

the bizblack is an amazing card that will get you 16% return while paying gst and/or taxes so a combo of both these cards will be the best in your situation.
 
I have been looking at BizBlack. Can you please confirm if my understanding regarding the Tax/GST payment is correct?

Suppose I have a GST payment of 1,00,000 per month. I will be eligible for the 5X RP since the spend is above 50K and an accelerated 5X RP (capped at 7,500) for GST payment.

So I will be earning 100000/150 * 5 = 3,333 RP + 7,500 Accelerated RP (worth ₹3,249.9) from the transaction. Using the card will cost me an additional 1% processing, but will be compensated by the rewards points above.

Is this correct?

Also, are there any business credit/debit cards offering zero forex markup fee?
 
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