FI Money Infinite account | 2% in UPI/Debit Card spends

[iamankit]

Does anyone upgraded to Infinite account variant by maintaining 50k? Share your practical experience on benefits like 2% cashback and their acceptable merchant transactions for those cashbacks.

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[Raun]

Even if your balance is >50k in start of the month, the account stays in Infinite category and is not downgraded with reducing balance. So just deposit once a month and use the balance for multiple smaller transactions to get that 500 CB.

 

[satish0987]

Even if your balance is >50k in start of the month, the account stays in Infinite category and is not downgraded with reducing balance. So just deposit once a month and use the balance for multiple smaller transactions to get that 500 CB.

It doesn't work like that...they will downgrade if bal<50k after some time
Some users are unable to get infinity coz of this workaround
Check in this thread only for full details

 

[sac]

Once you have balance over 50k they shift you to infinity type. And as u spend though the balance will go lower than 50k, they will still keep u on infinity account and generally give 15-20 days of time to top to 50k again. This way you dont need to maintain 50k everytime, but u can just topup to 50k when deadline nears. I am using it the same way from past 3 months.

 

[pointhacker]

Once you have balance over 50k they shift you to infinity type. And as u spend though the balance will go lower than 50k, they will still keep u on infinity account and generally give 15-20 days of time to top to 50k again. This way you dont need to maintain 50k everytime, but u can just topup to 50k when deadline nears. I am using it the same way from past 3 months.

As per logic given by you the return can be more than 12% also because denominator is reducing!!!!

Can anybody explain 16% logic to me? My 12% logic is based on (12*500)/50000. As per reply given by @sac bro earlier this can increase if denominator is less.

 

[Kamal Nayan]

I thought 3% bt shocked to see it's 3.45%
It's highest in industry

Yes, earlier it was 3.05% and now they have increased it to 3.45%

 

[satish0987]

Again dec 3 is Sunday
Last time CB credited on Sunday
How many want double CB jst like in November month

 

[paxauquabriba-4876]

so someone making payment of 2500 for 10 times in a month will get 500 Fi coins + 50 cashback per transaction , i.e. total of 5000 Fi coins and 500 cashback per month. Moreover 2% (per annum) interest on 50000 which is kept in Fi account, so practically we are losing on FD interest rate and gaining on cashback which is still better that FD rate loss.

I have read they have now capd at 1500 per transaction

 

[satish0987]

I have read they have now capd at 1500 per transaction

Yes now 17 transaction of Rs 1500 each on eligible merchants fetch us 2% upto 500 CB
Any one received CB for last month
It seems they might be give us tmrw only

 

[rp0703]

Yes now 17 transaction of Rs 1500 each on eligible merchants fetch us 2% upto 500 CB
Any one received CB for last month
It seems they might be give us tmrw only

CB received for November month. Didn't get any notification. Checked manually.

 

[anonymuos]

Looks like Fi started pwning customers by secretly not giving CB on many apps of CC bill payment. For around 6 months, I consistently got ₹500 every month. This month got just ₹207 so many apps/MCCs have been banned from cashback it seems. They are not transparent about anything - which transaction gives cashback. Also by updating it 5 days after end of month, we are well and truly left in the dark.

 

[satish0987]

Looks like Fi started pwning customers by secretly not giving CB on many apps of CC bill payment. For around 6 months, I consistently got ₹500 every month. This month got just ₹207 so many apps/MCCs have been banned from cashback it seems. They are not transparent about anything - which transaction gives cashback. Also by updating it 5 days after end of month, we are well and truly left in the dark.

That's the reason I follow this thread
So far i observed only 4 merchants giving CB

1.cred
2.cheq(some mentioning it's also not working)
3.onecard bill within same app
4.bajfinserv(some user posted)

 

[satish0987]

CB received for November month. Didn't get any notification. Checked manually.

Thanks got it
This time there's no double CB

 

[rp0703]

Looks like Fi started pwning customers by secretly not giving CB on many apps of CC bill payment. For around 6 months, I consistently got ₹500 every month. This month got just ₹207 so many apps/MCCs have been banned from cashback it seems. They are not transparent about anything - which transaction gives cashback. Also by updating it 5 days after end of month, we are well and truly left in the dark.

I got entire 500cb. I did all the transactions on cheq.

 

[phronimos]

I got entire 500cb. I did all the transactions on cheq.

Same for me. All Cheq.

 

[wolfdalalstreet]

Got 22500 Coins, all cheq.

 

[anonymuos]

So everyone who's paying CC bills via Cheq, you are being charged convenience fees on every CC payment? Are you ok with those charges?

 

[rp0703]

So everyone who's paying CC bills via Cheq, you are being charged convenience fees on every CC payment? Are you ok with those charges?

I'm making single payment of Rs. 1500. On which Rs. 3 is being charged. We are also getting 15 cheq points whose value is Rs. 3.75 (15 * 0.25). So it's net positive.

 

[KingAAR]

I just got 60rs and I did every transaction on Paytm only and the one I received is for amazon transaction shopping ,,,,, shit fi

 

[Kamal Nayan]

Can anyone please confirm whether you have received 2% cashback for CC bills payment via Cred using FI UPI?

Because as per my calculation I'm not getting cashback for CC bills using Cred since last month.

 

[Raun]

Can anyone please confirm whether you have received 2% cashback for CC bills payment via Cred using FI UPI?

Because as per my calculation I'm not getting cashback for CC bills using Cred since last month.

I have done transactions only on CRED with FI UPI, have received 500CB.