Instant discounts vs credit card rewards

[adithyaanuroop]

Hi all,

I have always attempted to get instant discounts with all my ecom transactions. Now I’m thinking of getting credit cards, transact with it as much as possible, hit the milestones benefits, purchase voucher through gyftr and build up my reward points balance to and redeem them for holiday vouchers and stuff. My question here is whether to continue with my existing strategy or go for credit card rewards, which one will be more beneficial? Assuming a minimum monthly spend of 20k and overall yearly spends of 3 lakhs. TIA

 

[shrewdoc]

Hi all,

I have always attempted to get instant discounts with all my ecom transactions. Now I’m thinking of getting credit cards, transact with it as much as possible, hit the milestones benefits, purchase voucher through gyftr and build up my reward points balance to and redeem them for holiday vouchers and stuff. My question here is whether to continue with my existing strategy or go for credit card rewards, which one will be more beneficial? Assuming a minimum monthly spend of 20k and overall yearly spends of 3 lakhs. TIA

For annual spends of 3L, getting Cashback would be more suitable. You can easily get 5% online as well as 1-1.5% offline with various cards currently available (check the forum for more info)

 

[sauravkumar]

Hi all,

I have always attempted to get instant discounts with all my ecom transactions. Now I’m thinking of getting credit cards, transact with it as much as possible, hit the milestones benefits, purchase voucher through gyftr and build up my reward points balance to and redeem them for holiday vouchers and stuff. My question here is whether to continue with my existing strategy or go for credit card rewards, which one will be more beneficial? Assuming a minimum monthly spend of 20k and overall yearly spends of 3 lakhs. TIA

First of all use CC for necessary things... don't try to overspend to hot milestones blah, blah... blah.

I will suggest chose cards according to your usage only. And below thread by our Founder will help you in that:

Thread 'Best Credit Cards 2024 (November 2024) | Category-wise Credit Card Recommendation By TechnoFino'

Nov 8, 2024

Hello TFCians,

We’ve updated our article, “Best Credit Cards 2024 | Category-wise Credit Card Recommendations by TechnoFino,” to reflect changes up to November 7, 2024. With less than two months until the start of 2025, I’ll be posting the "Best Credit Cards 2025" on January 1, 2025, with additional spending and lifestyle categories included.

In each category, I will be suggesting a range of credit cards, spanning from lifetime free options to luxurious ones, covering cashback, air miles, and reward points. Please peruse the complete list below and select the credit card that best...

• TechnoFino
• Replies: 32
• Forum: Credit Card - General

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[nikhilk21]

I too used to have this dilemma. I follow the strategy of using the best card from the cards I have for the particular spend I'm doing. When there's a good instant discount, I use it. When there's no instant discount, I use the card where I get the reward points considering the milestones etc.

As your yearly spends are around 3L, don't go for these high value milestone cards as hitting them naturally would be difficult.