Infinia How to get HDFC Infinia LTF or other super premium CCs using ULIPs?

[kshitij_0]

Please share your experiences regarding this topic, those who have already got the super premium cards like Infinia.

What should be the minimum amount of ULIP and which way do we need to approach the bank?
Which other things do we need to keep in mind?

Please don't share trivial knowledge that ULIPs are bad and all.

 

[Lobogris]

The only area in which Infinia scores over Magnus Burgundy is in buying vouchers like Amazon shopping, Swiggy, etc.
(Amazon pay has a charge of 2.95%)

These 5x points give a return of 13.46% (not 16.66%) when used to buy air tickets on Smartbuy after considering that only 70% points can be used for buying air tickets. Hence 13.46% and not 16.66%.
(Transferring Infinia points to airline or hotel partners will give a lower return and using it buy vouchers will give you even less than that.)

Although one may argue that Magnus Burgundy gives 24% return when used to buy airtickets on Traveledge (ideally 1 person at a time) , so why even bother to buy air tickets on Smartbuy to get only 13.46% or even 16.66% return.

Magnus Burgundy is obviously superior for buying air tickets via Axis Traveledge portal as long as the price in competitive. In addition, Infinia only provides accelerated rewards up to 15k per month while Magnus has no cap. Infinia is better for hotels with 33% return though. However, Burgundy Magnus has a very high annual fee now for new applicants. I would like to humbly submit another opinion in regards to your formula where you reduced the Infinia return to 13.46% due to 70% usage rule. You can always use the remaining points for another booking and thus you would get 100% usage out of them.

 

[SSV]

I would like to humbly submit another opinion in regards to your formula where you reduced the Infinia return to 13.46% due to 70% usage rule.

This is where the comparison goes pear shaped while being having great maths that sometimes derails

 

[drsel]

Magnus Burgundy is obviously superior for buying air tickets via Axis Traveledge portal as long as the price in competitive. In addition, Infinia only provides accelerated rewards up to 15k per month while Magnus has no cap. Infinia is better for hotels with 33% return though. However, Burgundy Magnus has a very high annual fee now for new applicants. I would like to humbly submit another opinion in regards to your formula where you reduced the Infinia return to 13.46% due to 70% usage rule. You can always use the remaining points for another booking and thus you would get 100% usage out of them.

So if HDFC allows only 50% points to be used to buy airtickets, will you still say the return is 16.66% ?
So if HDFC allows only 25% points to be used to buy airtickets, will you still say the return is 16.66% ?
So if HDFC allows only 10% points to be used to buy airtickets, will you still say the return is 16.66% ?

 

[SSV]

So if HDFC allows only 50% points to be used, will you still say the return is 16.66% ?
So if HDFC allows only 25% points to be used, will you still say the return is 16.66% ?

Yes, for the amount of points used , the rate remains the same..

 

[Zacobite]

Please share your experiences regarding this topic, those who have already got the super premium cards like Infinia.

What should be the minimum amount of ULIP and which way do we need to approach the bank?
Which other things do we need to keep in mind?

Please don't share trivial knowledge that ULIPs are bad and all.

if you plan to derive maximum value from infinia ( with spends) and plan to invest in ULIP long term without a 3-5 yr. exit.. Just go ahead.. Amount will vary basis your branch desperation...

 

[drsel]

Yes, for the amount of points used , the rate remains the same..

Remember HDFC is the counter party to this deal.
Any profit you make his HDFCs loss and vice versa.

HDFC gets 10--16% commission on airtickets.
HDFC will try to maximize profits by allowing you to use the minimum number of points to reduce your return

 

[SSV]

Remember HDFC is the counter party to this deal.
Any profit you make his HDFCs loss and vice versa.

HDFC gets 10--16% commission on airtickets.
HDFC will try to maximize profits by allowing you to use the minimum number of points to reduce your return

As I said before, it is none of our business what HDFC does (for that matter any Bank) .. it’s their business and they are here to make profit..
What we need to compare is:
by doing X, what we are getting from different banks assuming all other thing being equal…

Return is different to rate of return..

I am going out now, let’s continue this at another time

 

[kshitij_0]

any update on ur attempts?

The struggle is going on. Bank executives are trying to sell what's beneficial for them not for me. Let's see if they are ready to come down to my terms.