originaldarklord
TF Buzz
Hi, I'm 25M, salaried but can move to being a self employed contractor, with a current net salary credit of 1.26L per month.
Here is my current portfolio:
1. Axis Ace - Limit Rs. 4,00,000 - Most used card for offline and online transactions
2. Axis Select - Limit Rs. 4,00,000 shared with Ace - Not used since recent devaluation. Planning to close this before renewal in October after using PP for an international trip before that.
3. ICICI Amazon Pay - Limit Rs 4,90,000 - Used for Amazon and Insurance payments
4. HDFC Millenia - Limit Rs. 1,00,000 - Mostly unused but I can replace my Ace with this for better rewards
5. HDFC Swiggy - Limit Rs. 1,00,000 shared with Millenia - Purely for 10% discount on Swiggy, Dineout, and Instamart. Total spends of roughly Rs. 15,000 per month on this
6. IDFC First Select - Limit Rs. 2,50,000 - Not rewarding. Got it for lounge access but is unused since spend criteria was introduced.
7. IndusInd Celesta Amex - Limit Rs. 2,20,000 - For unlimited lounge access and EazyDiner.
8. IndusInd Platinum Rupay - Limit Rs. 30,000 - For UPI spends
I also have a secured Niyo Global credit card for forex transactions
Recently Closed Cards in the last week:
1. OneCard Metal (federal bank) - Limit Rs. 1,45,00 - Mostly remains inactive. Already raised a request for closure but I can still retain it if required.
2. RBL Icon Card - Not rewarding at all. This was LTF but still felt useless.
3. Kotak PVR card - Reward point value was very less and IndusInd Celesta was better for movies through BOGO on BMS.
CIBIL took a recent drop when Kotak incorrectly reported 4 enquiries for just 1 card. Current score is 768.
Recently rejected for Jupiter CSB card and SBI Cashback card.
I’m now looking to consolidate my portfolio and focus on a few rewarding cards rather than spreading my spends across all these different cards.
I don’t think I qualify for an Infinia right now. I will not take a ULIP policy just for a CC no matter how rewarding but I can still move a few FDs there.
Current monthly spends are roughly:
Food delivery/Dining - Rs. 15,000
Insurances - Rs. 24,000
Phone+Broadband - Rs. 1300
Fuel - Rs. 4000
Flights + Hotel - Rs. 20,000 - Monthly average over an year
Online Shopping - Rs. 5000
Offline Shopping - Rs. 5000
Misc - Rs. 10,000
How can I get the most rewards out of these spends and get the best value from credit cards?
Should I close any of the existing ones since I might have issues getting better cards with so many already active cards.
Also, please suggest the best cards that I can get roughly 3-4 months from now once CIBIL improves again. I would prefer cards that offer lifestyle benefits like lounge access, premium memberships, and offers on BMS and EazyDiner.
Here is my current portfolio:
1. Axis Ace - Limit Rs. 4,00,000 - Most used card for offline and online transactions
2. Axis Select - Limit Rs. 4,00,000 shared with Ace - Not used since recent devaluation. Planning to close this before renewal in October after using PP for an international trip before that.
3. ICICI Amazon Pay - Limit Rs 4,90,000 - Used for Amazon and Insurance payments
4. HDFC Millenia - Limit Rs. 1,00,000 - Mostly unused but I can replace my Ace with this for better rewards
5. HDFC Swiggy - Limit Rs. 1,00,000 shared with Millenia - Purely for 10% discount on Swiggy, Dineout, and Instamart. Total spends of roughly Rs. 15,000 per month on this
6. IDFC First Select - Limit Rs. 2,50,000 - Not rewarding. Got it for lounge access but is unused since spend criteria was introduced.
7. IndusInd Celesta Amex - Limit Rs. 2,20,000 - For unlimited lounge access and EazyDiner.
8. IndusInd Platinum Rupay - Limit Rs. 30,000 - For UPI spends
I also have a secured Niyo Global credit card for forex transactions
Recently Closed Cards in the last week:
1. OneCard Metal (federal bank) - Limit Rs. 1,45,00 - Mostly remains inactive. Already raised a request for closure but I can still retain it if required.
2. RBL Icon Card - Not rewarding at all. This was LTF but still felt useless.
3. Kotak PVR card - Reward point value was very less and IndusInd Celesta was better for movies through BOGO on BMS.
CIBIL took a recent drop when Kotak incorrectly reported 4 enquiries for just 1 card. Current score is 768.
Recently rejected for Jupiter CSB card and SBI Cashback card.
I’m now looking to consolidate my portfolio and focus on a few rewarding cards rather than spreading my spends across all these different cards.
I don’t think I qualify for an Infinia right now. I will not take a ULIP policy just for a CC no matter how rewarding but I can still move a few FDs there.
Current monthly spends are roughly:
Food delivery/Dining - Rs. 15,000
Insurances - Rs. 24,000
Phone+Broadband - Rs. 1300
Fuel - Rs. 4000
Flights + Hotel - Rs. 20,000 - Monthly average over an year
Online Shopping - Rs. 5000
Offline Shopping - Rs. 5000
Misc - Rs. 10,000
How can I get the most rewards out of these spends and get the best value from credit cards?
Should I close any of the existing ones since I might have issues getting better cards with so many already active cards.
Also, please suggest the best cards that I can get roughly 3-4 months from now once CIBIL improves again. I would prefer cards that offer lifestyle benefits like lounge access, premium memberships, and offers on BMS and EazyDiner.
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