Credit Card usage in House Construction

[deepak7]

Hi Guys, I am planning to start the construction of my house. I will be paying for all the raw materials involved in house construction. It would be super helpful if you can suggest ways to use credit card at different places to earn maximum reward points. I am currently holding Axis Magnus Credit Card. Thanks in Advance.

 

[saver-user]

Hi Guys, I am planning to start the construction of my house. I will be paying for all the raw materials involved in house construction. It would be super helpful if you can suggest ways to use credit card at different places to earn maximum reward points. I am currently holding Axis Magnus Credit Card. Thanks in Advance.

Use magnus to buy raw materials till 1 lakh everymonth. Use infinia, ultimate or atlas after that. But genuinely this is a weird idea. as too much transaction will lead to flag. Just use it carefully.

 

[RupayMan]

Hi Guys, I am planning to start the construction of my house. I will be paying for all the raw materials involved in house construction. It would be super helpful if you can suggest ways to use credit card at different places to earn maximum reward points. I am currently holding Axis Magnus Credit Card. Thanks in Advance.

Do you have merchant to accept the raw materials in Credit card payment? I doubt that, because this merchants most of them prefer in cash or bank transfer in rtgs.

 

[NeerajNegi]

Hi Guys, I am planning to start the construction of my house. I will be paying for all the raw materials involved in house construction. It would be super helpful if you can suggest ways to use credit card at different places to earn maximum reward points. I am currently holding Axis Magnus Credit Card. Thanks in Advance.

I guess the merchant who sells raw materials at a cheap price won't let you use CC

 

[saver-user]

These guys are right as merchants selling cheap don't accept anything except cash most of times to evade taxes etc.

 

[deepak7]

Do you have merchant to accept the raw materials in Credit card payment? I doubt that, because this merchants most of them prefer in cash or bank transfer in rtgs.

Some are excepting which are authorized dealers of some brands like Sleek Kitchens, Hindware, Kajaria, etc.

 

[kohliS]

If you are in NCR region DM me

 

[RupayMan]

Some are excepting which are authorized dealers of some brands like Sleek Kitchens, Hindware, Kajaria, etc.

Heavy usage of CC in turn increase the 30% Utilisation bracket. So use all your card within that

 

[dinersblackpro]

I am into the construction business and more often than not, have huge spends (upwards of 15 lakhs pm) on my Magnus and DCB on construction materials - from plumbing material to electrical to paint. everything is put on the card.. for the last 3-4 years.. no question asked reward points are given by both.

 

[technom]

I'm my personal experience from 1-2 years ago at Bangalore:-
You can use credit card during construction or renovation only in certain use cases since most local shops prefer cash or atleast online transfers which don't incur additional fees for them + some smaller merchants don't even have card machines. CC usually means around 2% in transaction fees to the merchant and they'll usually ask us to bear that fee, if we still prefer credit card over other options.
I experienced this with even Premium shops with Jaquar or even higher. Even hard negotiations don't work because the discounts they offer will be irrespective of card usage and so they'll offer a 12% instead of 10% if you use cash or other online methods that don't incur additional fees.
There are however some online sites that may allow you to do so. Example in Hettich branded Fittings and Schneider Electric (for home automation etc).
With local merchants it usually comes down to negotiations and the kind of (reward) return you get on your credit. If it's greater than the charge of 2-3%, then it makes sense

 

[RupayMan]

I'm my personal experience from 1-2 years ago at Bangalore:-
You can use credit card during construction or renovation only in certain use cases since most local shops prefer cash or atleast online transfers which don't incur additional fees for them + some smaller merchants don't even have card machines. CC usually means around 2% in transaction fees to the merchant and they'll usually ask us to bear that fee, if we still prefer credit card over other options.
I experienced this with even Premium shops with Jaquar or even higher. Even hard negotiations don't work because the discounts they offer will be irrespective of card usage and so they'll offer a 12% instead of 10% if you use cash or other online methods that don't incur additional fees.
There are however some online sites that may allow you to do so. Example in Hettich branded Fittings and Schneider Electric (for home automation etc).
With local merchants it usually comes down to negotiations and the kind of (reward) return you get on your credit. If it's greater than the charge of 2-3%, then it makes sense

Reality speaks in this comment.

 

[anirbanm]

Use magnus to buy raw materials till 1 lakh everymonth. Use infinia, ultimate or atlas after that. But genuinely this is a weird idea. as too much transaction will lead to flag. Just use it carefully.

It might lead but doesn't matter if one can rightly justify