Infinia HDFC Infinia "requesting" 1.5 lakhs spend per month?

[sid16]

Just received the above email. What does it mean? If we don't spend 1.5 lakhs a month, we're not entitled to these benefits?

 

[_ayush]

So if you do end up breaking the FD, will you get DCB metal ltf? 🤔
Also don't think they'll devalue DCB metal because there isn't any guaranteed joining/annual benefit unlike infinia.

 

[PrinceHeart]

Basically in 2023 March, I upgraded on salary basis from money-back to regalia (3L limit).

They launched regalia gold in April.

Then I came to know about DCB alumni offer. I increased my relationship (50L FD) with hdfc and asked them to increase limit to 5L so I can get DCB. They stopped the program in September (fml right?).. I wrote to MD desk and they gave exception for me to get DCB LTF in November. (Threatened I'll shift to axis and remove all FDs).

In Dec I had a huge single purchase. Thought this is the chance to get infinia (don't qualify through salary obviously as I only qualified for 3L on regalia in March 23).

FD of 5L is 5% of my portfolio which I anyways will keep. The earlier FD I have SIP out into equity.

Now looks like again something will happen with infinia... Why does everything happen within a month's timeframe of me getting it?

Understood.

Mere time mein to 2 times devaluation huya for paid magnus. And im still thinking what to do with it. Bare chao se magnus liya tha....mostly for the meet & greet services. Its much needed for me with a newborn. Now that's gone too. Magnus burgundy 10L offer is gone as well. And hdfc asking for fd, which r all invested elsewhere. Not gonna use my emergency money. Share market is just floating as of now. For 2 months i tried for emeralde private, but sadly couldnt get it. 6 months crossing soon in Indonesia. Another 6 to 7 months here. So just enjoying sleepless nights + TF.

 

[PrinceHeart]

Btw, if i did a 14L swipe with millennia, for buying neighbor's car. Can i ask hdfc for infinia ? The asking price is around 9L spend in 6 months yes ?

Even with 2% extra charge for cc swipe at showroom, it will be a lot cheaper and quicker way for me.

Can do a 10L fd for limit increase as well.

 

[Firewing224]

Btw, if i did a 14L swipe with millennia, for buying neighbor's car. Can i ask hdfc for infinia ? The asking price is around 9L spend in 6 months yes ?

Even with 2% extra charge for cc swipe at showroom, it will be a lot cheaper and quicker way for me.

Can do a 10L fd for limit increase as well.

Will be reported to your AIS income tax.

 

[Deleted member 26954]

Btw, if i did a 14L swipe with millennia, for buying neighbor's car. Can i ask hdfc for infinia ? The asking price is around 9L spend in 6 months yes ?

Even with 2% extra charge for cc swipe at showroom, it will be a lot cheaper and quicker way for me.

Can do a 10L fd for limit increase as well.

TCS will be deducted with car value above 10 Lakh....Income Tax department ka swag se swagat karna padega

 

[PrinceHeart]

TCS will be deducted with car value above 10 Lakh....Income Tax department ka swag se swagat karna padega

Will be reported to your AIS income tax.

Will show source of funds in itr, no probs.

9L ka swipe kar denge. Infinia ka requirement fulfill hoga right ? Business expense mein show kar denge to gst ka paisa bhi bach jayega.

 

[neo.puneet]

Will show source of funds in itr, no probs.

9L ka swipe kar denge. Infinia ka requirement fulfill hoga right ? Business expense mein show kar denge to gst ka paisa bhi bach jayega.

ye sab kar sakte ho toh depreciation bhi show karna car ka aane vale time me 😎

 

[Firewing224]

D

So if you do end up breaking the FD, will you get DCB metal ltf? 🤔
Also don't think they'll devalue DCB metal because there isn't any guaranteed joining/annual benefit unlike infinia.

DCB plastic LTF which was my previous card.

 

[Firewing224]

Will show source of funds in itr, no probs.

9L ka swipe kar denge. Infinia ka requirement fulfill hoga right ? Business expense mein show kar denge to gst ka paisa bhi bach jayega.

Business expense on car - no GST claimable. Only dep claimable. It'll come as asset. Not expense. Not recommended unless it's your own car because unlike a hotel bill, you can't do 50:50 on it.

Or Benami asset.

 

[aftabnack]

Just received my paid Infinia Metal card 5 days back. Already talks of devaluation 😒🥲

 

[vine]

Will show source of funds in itr, no probs.

9L ka swipe kar denge. Infinia ka requirement fulfill hoga right ? Business expense mein show kar denge to gst ka paisa bhi bach jayega.

Doesn't it count as business expenses on personal card.

 

[Firewing224]

Doesn't it count as business expenses on personal card.

Hdfc usually doesnt check. It's happy getting MDR. IT will.

If hdfc checks he only has millenia card to lose. If IT checks, he has bigger troubles in CA fees and penalties.

 

[PrinceHeart]

Hdfc usually doesnt check. It's happy getting MDR. IT will.

If hdfc checks he only has millenia card to lose. If IT checks, he has bigger troubles in CA fees and penalties.

so not show as business expense. Then its all good yeah ?

 

[vine]

so not show as business expense. Then its all good yeah ?

Just use personal cards for personal expenses. If not, you should have a good answer when IT ask.

 

[PrinceHeart]

Just use personal cards for personal expenses. If not, you should have a good answer when IT ask.

Yes i got that.

I mean to ask, i got 20L in my acc and i bought a car for 14L. Can swipe my cc, get reward points + ask for infinia, cause my spend requirement will be fulfilled. Where does IT dept comes from ?

If the bank or IT does ask me for this, i can just say its a car, i bought it from my money and my cc.

Ab paros wale ko maine personal loan diya apne paise se, jo ki already tax paid amout hai mere bank acc mein.

Aur to kuch nahi na ? I am only confirming or any un-forseen situation that might arise.

 

[SSV]

but you will be regulary banned to redeem your ER points and asked to present evidence for your spends..
How humiliating is this for a proud high profile customer ..??

Interesting observation, so now it becomes a matter of ego

 

[MangoRush]

Yes i got that.

I mean to ask, i got 20L in my acc and i bought a car for 14L. Can swipe my cc, get reward points + ask for infinia, cause my spend requirement will be fulfilled. Where does IT dept comes from ?

If the bank or IT does ask me for this, i can just say its a car, i bought it from my money and my cc.

Ab paros wale ko maine personal loan diya apne paise se, jo ki already tax paid amout hai mere bank acc mein.

Aur to kuch nahi na ? I am only confirming or any un-forseen situation that might arise.

Use it. Anything above 10 lacs easily gets you the invite.

Don't worry about IT for such small amounts if you are filing returns.

 

[SSV]

Use it. Anything above 10 lacs easily gets you the invite.

Don't worry about IT for such small amounts if you are filing returns.

This is correct .. People worry too much about SFT showing >10L CC payments..
Nothing happens, if we have a decent ITR for the last several years...

 

[MangoRush]

Heavy rotators have made it such that even genuine spenders are thinking twice lol

 

[rishis90]

I guess is targeting low spenders , as I haven't received the msg only simple benefit email has come