Looking for a New Card Recommendation. Already have Infinia

[legend.sudsier]

Hi,

I am looking for a new credit card to earn higher rewards on two spend categories:
1. Online donations to Charities/NGO, primarily as *forex spends* in USD but some portion could be Indian as well. Expected spend: ₹8-10 lakhs a year
2. Rent. Expected spend ₹75K+ a month

I already have an HDFC Infinia that I use quite extensively. I am looking for something that provides higher rewards on these *additional* categories.

Given that the donations are discretionary I can time them such so that expenses in one month can go ~₹3-4 lakhs, and do this 3-4 times a year.

My salary account (net salary is ₹3L+ per month) is currently with HDFC but I am open to moving it to another bank if that's a requirement for getting the card. However, I will not make any investments with the bank.

Additional Constraints:
- The card must provide somewhat mainstream/wide redemption options. I love Infinia's redemption options at 1:1 for flights and hotels. Miles work fine, but must be redeemable across a wide variety of hotels/airlines. For instance, Taj vouchers are of limited use/value.
- The reward rate should be high (>3-4%) without needing to count them as Accor points, which I don't care about.

I have been looking at
- Axis Magnus for Burgundy (my current top pick because of the Accelerated Edge Points above ₹1.5L)
- HSBC Premier
- American Express Platinum Travel
- IDFC First Wealth (but I don't think I will qualify based on monthly salary)

But not sure yet. Is Magnus4B the best option? Or is there any other card that would suit my expenses better?

I don't mind paying for card's annual fee as long as the rewards that I'm getting will compensate for the annual fees as well as the opportunity cost of whatever I could have made similarly on Infinia.

My background: Work at a FAANG company. I and my wife donate to give back to the society for being so fortunate and privileged.

 

[tachniki]

Do you know what is mcc code for online donation that you use? M4B and Platinum travel looks good option unless mcc is constraint.

You will easily get IDFC First Wealth. While applying online use c2c option and mention Infina. They will not even check any documentation. One CIBIL shot is all the pain you will get. My card got issued in 12 minutes including time to fill application. 🙂 But I doubt it will be as beneficial as M4B or Platinum. It is LTF anyways.

Do you mind if I ask how old are you? Just curious. Please choose not to answer if you wish so. 🙂

 

[sourpai]

Magnus Burgundy is the best option since you can plan the spends to exceed 1.5L per month easily. Shift salary account to Axis. With 3L+, you will easily get Burgundy account. You can negotiate for the card before moving the salary there

Plat Travel is not good enough since it will charge you 4.13% forex fees. IDFC Wealth is useless option, you can ignore it

Other option is Axis Olympus - but it is not open for non Citi customers as yet

Most important - Do check MCC of merchant once to ensure that it gives rewards on Axis cards

HSBC Premier is just about Ok - 3% reward rate is little low. It would not be my pick

 

[legend.sudsier]

Do you know what is mcc code for online donation that you use? M4B and Platinum travel looks good option unless mcc is constraint.

You will easily get IDFC First Wealth. While applying online use c2c option and mention Infina. They will not even check any documentation. One CIBIL shot is all the pain you will get. My card got issued in 12 minutes including time to fill application. 🙂 But I doubt it will be as beneficial as M4B or Platinum. It is LTF anyways.

Do you mind if I ask how old are you? Just curious. Please choose not to answer if you wish so. 🙂

I see. Thanks!

Don't know the MCC yet. I will be using the company's Benevity portal. I will do a sample transaction and cross check with HDFC. Customer support should be able to confirm the MCC once the transaction is posted, right?

I am in my mid-thirties.

 

[legend.sudsier]

Magnus Burgundy is the best option since you can plan the spends to exceed 1.5L per month easily. Shift salary account to Axis. With 3L+, you will easily get Burgundy account. You can negotiate for the card before moving the salary there

Plat Travel is not good enough since it will charge you 4.13% forex fees. IDFC Wealth is useless option, you can ignore it

Other option is Axis Olympus - but it is not open for non Citi customers as yet

Most important - Do check MCC of merchant once to ensure that it gives rewards on Axis cards

HSBC Premier is just about Ok - 3% reward rate is little low. It would not be my pick

Thanks. Yeah, I too ended up liking M4B the most with similar logic.

However, I am a little unsure about Axis's credibility in general. HDFC has a rock-stellar reputation.

You have a long term experience with Axis?

 

[tachniki]

I see. Thanks!

Don't know the MCC yet. I will be using the company's Benevity portal. I will do a sample transaction and cross check with HDFC. Customer support should be able to confirm the MCC once the transaction is posted, right?

I am in my mid-thirties.

Mostly yes. But if you don't like talking to customer service, order an idfc card for just this purpose. Ordering from cashkaro will give you additional cashback.

Thread 'Easily check ‘MCC’ using IDFC app'

Jun 27, 2024

If you have an IDFC card, you can check mcc via app without having to call anyone.
You can also do small transaction to know the code if the CC rep is unable to provide that info.
Useful for cards that give mcc specific discounts (Like HSBC cashback gives 10% on grocery/food mcc).

Via idfc app, go to the transaction>download receipt>review description for mcc

• Aditya12
• Replies: 25
• Forum: Credit Card - General

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[legend.sudsier]

Mostly yes. But if you don't like talking to customer service, order an idfc card for just this purpose. Ordering from cashkaro will give you additional cashback.

Thread 'Easily check ‘MCC’ using IDFC app'

Jun 27, 2024

If you have an IDFC card, you can check mcc via app without having to call anyone.
You can also do small transaction to know the code if the CC rep is unable to provide that info.
Useful for cards that give mcc specific discounts (Like HSBC cashback gives 10% on grocery/food mcc).

Via idfc app, go to the transaction>download receipt>review description for mcc

• Aditya12
• Replies: 25
• Forum: Credit Card - General

• 
• 
• 

Interesting. Thanks. But I want to avoid the mental overload of getting and maintaining cards that I don't use extensively. That's why I only hold one card at the moment.

 

[sourpai]

Thanks. Yeah, I too ended up liking M4B the most with similar logic.

However, I am a little unsure about Axis's credibility in general. HDFC has a rock-stellar reputation.

You have a long term experience with Axis?

My personal experience has been good only. I have been Axis Burgundy since last 5-6 years. Agree that Axis has made some changes more frequently than lets say, HDFC, but it is because people were exploiting the card left right and centre due to higher reward rate it offers and some IT loopholes that existed in their systems

For genuine user, there is nothing to worry. All exclusions such as utility, govt, jewellery, Gyftr etc. don't bother me much (as I already have Infinia). I continue to use M4B and Atlas from their portfolio