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Infinia Infinia for car down payment

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yashwanthms

yashwanthms

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Hi,

I am planning to do a down payment of around 10L to buy a car.
I hold an Infinia with a credit limit of 8L currently. I've written to them to increase credit limit as well. Awaiting the reply!
If I want to do this payment of 10L using Infinia, SC may charge around 1.5-2% extra.
Will it be worth it to pay using Infinia?
If I do payment of around 7L, pay that bill and again do 3L, is it valid or will it harm my cibil score?
Also, will it harm my credit score if I swipe for 7L since I'd be utilising almost full credit limit?

If it is going to be worth it, considering reward points cap per day, should I do the payment on multiple days?
 
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yashwanthms said:
Hi,

I am planning to do a down payment of around 10L to buy a car.
I hold an Infinia with a credit limit of 8L currently. I've written to them to increase credit limit as well. Awaiting the reply!
If I want to do this payment of 10L using Infinia, SC may charge around 1.5-2% extra.
Will it be worth it to pay using Infinia?
If I do payment of around 7L, pay that bill and again do 3L, is it valid or will it harm my cibil score?
Also, will it harm my credit score if I swipe for 7L since I'd be utilising almost full credit limit?

If it is going to be worth it, considering reward points cap per day, should I do the payment on multiple days?
Click to expand...
Just ask them to activate NPSL feature on the card, they wouldn’t increase limit based on expected spend.
 
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I have Atlas and Vistara Signature with shared limit. I am planning to pay for new car with these cards. Limit was increased 3 months back but still much less than what I need to pay. What would be the best approach to contact Axis Bank? Please share your opinions.
 
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yashwanthms said:
Hi,

I am planning to do a down payment of around 10L to buy a car.
I hold an Infinia with a credit limit of 8L currently. I've written to them to increase credit limit as well. Awaiting the reply!
If I want to do this payment of 10L using Infinia, SC may charge around 1.5-2% extra.
Will it be worth it to pay using Infinia?
If I do payment of around 7L, pay that bill and again do 3L, is it valid or will it harm my cibil score?
Also, will it harm my credit score if I swipe for 7L since I'd be utilising almost full credit limit?

If it is going to be worth it, considering reward points cap per day, should I do the payment on multiple days?
Click to expand...
Infinia Shadow Limits and Temporary Increases

Infinia credit cards often have shadow limits. To temporarily increase your spending capacity, call customer service (CS) and request a limit increase of 11-12 lakhs. If that's not possible, settle for 10 lakhs. Always negotiate for a higher amount. If you have an HDFC Savings, Salary, or Current Account, you can also contact your Relationship Manager (RM).

Repayment Flexibility and CIBIL Score

When to make your full repayment is up to you. For optimal CIBIL score impact, consider your total credit limit across all cards. For example, if your total limit is 50 lakhs or 70 lakhs, aim to keep your utilization below 10% (ideally below 15%), which would be around 7 lakhs. Even paying a few days before the due date helps stay within this healthy utilization range.

Maximizing Cashback

Focus on maximizing cashback while strategically paying off your bill. Here are some options:

  • RBL Account: Certain RBL accounts offer cashback benefits but may have an annual fee (around ₹5900). search in the forum to see if it makes sense for you.
  • IndusInd Bank: IndusInd often offers cashback up to 1% or slightly less on bill payment
Timing Your Purchase

If possible, purchase your car after your Infinia bill is generated. This will give you a payment window of approximately 52 days.

i asked gemini AI cause my dad and me are also buying creta N line N10 DCT. so i had to just copy and paste here
 
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vaibhav111 said:
Maximizing Cashback

Focus on maximizing cashback while strategically paying off your bill. Here are some options:

  • RBL Account: Certain RBL accounts offer cashback benefits but may have an annual fee (around ₹5900). search in the forum to see if it makes sense for you.
  • IndusInd Bank: IndusInd often offers cashback up to 1% or slightly less on bill payment
Timing Your Purchase

If possible, purchase your car after your Infinia bill is generated. This will give you a payment window of approximately 52 days.

i asked gemini AI cause my dad and me are also buying creta N line N10 DCT. so i had to just copy and paste here
Click to expand...
Bro. Didn't I tell you the same thing? Why are giving credit to some ai ? 😋
Edit: found the perfect meme 😂
1000015350.jpg
 
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sidp said:
Bro. Didn't I tell you the same thing? Why are giving credit to some ai ? 😋
Click to expand...
yeah you and me had a conversation earlier but i wanted to add RBL Account and Induslnd Account and wanted him to call RM instead of CS. and he was confused on credit score impacted due to his. so i wanted to check his overall credit to him. instead of repaying the amount before the bill is generated.
 
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yashwanthms said:
So the dealer says the extra charges vary from card to card and for Infinia it is 3.5% it seems! There's no point in going ahead with it. I'm still trying to bring it down to around 1.5%-2%.
Click to expand...
fight for MDR charges, also, for VISA/MC it can not me 3.5%. you can make a small transaction of 1000 rs to the dealer to confirm, ask him to show the actual charge. btw - i paid 4 lacs dp without MDR last week by just threatening the dealer.
 
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yashwanthms said:
So the dealer says the extra charges vary from card to card and for Infinia it is 3.5% it seems! There's no point in going ahead with it. I'm still trying to bring it down to around 1.5%-2%.
Click to expand...
It depends on card network and not on the card variant. 3.5% is what I have heard for Amex.

For visa, mastercard it is around 1.5-2%
 
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yashwanthms said:
So the dealer says the extra charges vary from card to card and for Infinia it is 3.5% it seems! There's no point in going ahead with it. I'm still trying to bring it down to around 1.5%-2%.
Click to expand...
He is lying. mdr depends on card type( personal<business<corporate), network (rupay<visa~mc<diners<amex).

He is asking 3.5% cuz he knows infinnia gives 3.3%.

If you would have given advance/booking using the same cc, you could find out pos servicing bank. If you find that out, you can complain against him. Legally He can't charge you anything. He can increase the invoice amount. But if he is charging more than invoice amount, you can sue him. His pos will be blocked.

Total Cost is around 2.95% for mc/visa cc. ~1.5% is for debit card. But that too depends on merchant size. Big merchants pay much less.
 
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