Hi,
My friend has the following situation:
1. He and his wife have two separate SBI Elite cards (yearly fee 5k each), which they use for reimbursement expenses. Easier to keep those swipes separate from the normal usage. Yearly usage is about 4L each (total 8L around).
2. He has a Regalia LTF with addon for Wife, which he uses everywhere. That is around 60-90K per month usage.
3. Place of stay - Chandigarh.
Usage of Regalia LTF
1. Multiple online sites, including hotels (national and international).
2. Zomato and BMS regularly.
3. Airtel broadband and mobile postpaids.
4. Fuel.
5. Offline shopping.
6. They don't need airmiles at all. That pretty much rules out Magnus/Reserve/Atlas.
Options:
1. A simple idea is to definitely convert the both SBI Elite into SBI cashback cards. The yearly >4L usage means the card is free and the online usage gives back 5% irrespective of merchant. Pretty much 15-20k each cashback, directly into the card accounts. It will not be used for any normal things. Plan would be to apply for CB card, and then transfer the limits from Elite to CB. Close Elite.
2. He has the option to have Diners Club Black - Alumni offer, but that means his main Visa Regalia goes away. The potential problem in having that upgrade is that the addon card which wife uses would also be converted into DCB and given the potential issue of non-acceptance of that platform, it is unnecessary hassle for her.
3. An option of keeping Regalia LTF (leave the DCB option), and try for SCB Ultimate card with addon. That pretty much keeps their system unchanged. Just regularly yearly basis, redeem some vouchers of choice in one go. The Visa infinite option means no need to think about non-acceptance. This allows him Lounge access for both with Regalia and not depend upon SCBU for that.
4. Option of Metal Infinia. With the upcoming devaluations, it is just too much confusion how to optimally use that card with 12.5k fee. Appears unfavorable.
5. Option of Amex. Amex will have some non-acceptance also, so that option does not look very bright either. But Platinum Travel or MRCC appear to be reasonable with Regalia LTF.
In short, change Elites to SBI CBs (save 10k a year). Keep Regalia LTF, forgo DCB LTF and opt for SCBU with addon. If not issued, then try Amex Platinum Travel / MRCC.
Are the above options and thinking correct or there is scope for improvement?
Thanks.
My friend has the following situation:
1. He and his wife have two separate SBI Elite cards (yearly fee 5k each), which they use for reimbursement expenses. Easier to keep those swipes separate from the normal usage. Yearly usage is about 4L each (total 8L around).
2. He has a Regalia LTF with addon for Wife, which he uses everywhere. That is around 60-90K per month usage.
3. Place of stay - Chandigarh.
Usage of Regalia LTF
1. Multiple online sites, including hotels (national and international).
2. Zomato and BMS regularly.
3. Airtel broadband and mobile postpaids.
4. Fuel.
5. Offline shopping.
6. They don't need airmiles at all. That pretty much rules out Magnus/Reserve/Atlas.
Options:
1. A simple idea is to definitely convert the both SBI Elite into SBI cashback cards. The yearly >4L usage means the card is free and the online usage gives back 5% irrespective of merchant. Pretty much 15-20k each cashback, directly into the card accounts. It will not be used for any normal things. Plan would be to apply for CB card, and then transfer the limits from Elite to CB. Close Elite.
2. He has the option to have Diners Club Black - Alumni offer, but that means his main Visa Regalia goes away. The potential problem in having that upgrade is that the addon card which wife uses would also be converted into DCB and given the potential issue of non-acceptance of that platform, it is unnecessary hassle for her.
3. An option of keeping Regalia LTF (leave the DCB option), and try for SCB Ultimate card with addon. That pretty much keeps their system unchanged. Just regularly yearly basis, redeem some vouchers of choice in one go. The Visa infinite option means no need to think about non-acceptance. This allows him Lounge access for both with Regalia and not depend upon SCBU for that.
4. Option of Metal Infinia. With the upcoming devaluations, it is just too much confusion how to optimally use that card with 12.5k fee. Appears unfavorable.
5. Option of Amex. Amex will have some non-acceptance also, so that option does not look very bright either. But Platinum Travel or MRCC appear to be reasonable with Regalia LTF.
In short, change Elites to SBI CBs (save 10k a year). Keep Regalia LTF, forgo DCB LTF and opt for SCBU with addon. If not issued, then try Amex Platinum Travel / MRCC.
Are the above options and thinking correct or there is scope for improvement?
Thanks.