Only Premium & Super Premium Cards Discussion

[NikTravelEnthusiast]

It's a thin line between what's right or wrong.
It's risky game.

I am hesitant to use 60 to 70 K per month as a part of my mutual fund and other investments. But using bharatnxt or snapay for that, might involves a risk. Also the income tax office might ask questions in future.

 

[kkk]

You get neucoins upto 500/m only. Which translates to transaction of around 33K. And imo neu infinity has more chances of getting blocked than magnus

Who has given this information? I have received 11k neucoins in one month and 6k neucoins in another month.

 

[RewardsAlert]

But Axis did the same with Rent Payments.
Axis Excluded Rent Payments MCC instead of sending Notice to Customers.

RedGirraffe can be used by Only Genuine Rent Payers
Banks Can block other Merchant like Paytm, Phonepe Freecharge and allow only RedGirraffe Txns to go through but they exculded MCC instead of Blocking Rent Pay Txns done at Specific Merchants

It's just my opinion.
The bank cannot exclude most MCC right?
Today they excluded Wallet and Rent, tomorrow they might exclude utility, thereafter they may exclude Jewellery, insurance and education payments

But this can't keep going on right?
They also have limitations, else people will shift to other bank.

Rent payment was a definite way, that was popularised to rotate, same was with Wallet load.
But bharatNXT is playing MCC game by using Utility MCC.

Just for bharatNXT, they cannot ban the entire MCC.

Only Snapay is there similar to BharatNXT, don't know what is it's MCC.

But I hope you got the overall point.

 

[RewardsAlert]

It's a thin line between what's right or wrong.
It's risky game.

I am hesitant to use 60 to 70 K per month as a part of my mutual fund and other investments. But using bharatnxt or snapay for that, might involves a risk. Also the income tax office might ask questions in future.

But how come investment and MF's came into picture.

We are discussing about card to card rotation right? Not talking about card to bank.
Maybe you can explain a bit.

 

[VISHESH_BANSAL]

It's just my opinion.
The bank cannot exclude most MCC right?
Today they excluded Wallet and Rent, tomorrow they might exclude utility, thereafter they may exclude Jewellery, insurance and education payments

But this can't keep going on right?
They also have limitations, else people will shift to other bank.

Rent payment was a definite way, that was popularised to rotate, same was with Wallet load.
But bharatNXT is playing MCC game by using Utility MCC.

Just for bharatNXT, they cannot ban the entire MCC.

Only Snapay is there similar to BharatNXT, don't know what is it's MCC.

But I hope you got the overall point.

For HNI cards, Probably they don't do it

But for cashback Cards , Banks already did this and may include other NON-HNI cards also
Example-
1.
Flipkart Axis-Main Utility MCC-4900 and other Similar MCC but not Utility also Excluded on the name of Utility

2
Cashback SBI( Main Utility MCC-4900 Excluded from launch and now they excluded similar MCC also which are non Utility but SBI considers them as Utility and also MCC-Railways and Gift Cards which is not excluded by any other Bank)

Customer did Manufacturered spends on SBI Gyftr, SBI excluded Gifts MCC to stop it.

3.and latest Axis Ace Capping.

Infact you can take Example of BOB.
BOB excluded Utility MCC for BOB Etrna but not Wallet MCC.
For BOB , Eterna is their Premium Card.
But BOB chooses to Block suspicious Wallet txns and Excluded Utility MCC instead of Blocking Suspicious Utility Txns and Excluding Wallet loads.

Every Bank Targeting Utility MCC and Excluding them.

 

[NikTravelEnthusiast]

But how come investment and MF's came into picture.

We are discussing about card to card rotation right? Not talking about card to bank.
Maybe you can explain a bit.

I am pointing towards credit card to bank transfers.

What ever we do, ultimately it's merchant name displyed in credit card statement.

I posted in wrong thread. But worth to get opinions and thoughts.

 

[WandereR]

Who has given this information?

The bank, who else

1.5% back as NeuCoins on UPI spends (including spends on partner Tata Brands) - maximum of 500 NeuCoins per calendar month.​

(https://www.hdfcbank.com/personal/pay/cards/credit-cards/tata-neu-infinity-hdfc-bank-credit-card)

 

[RewardsAlert]

For HNI cards, Probably they don't do it

But for cashback Cards , Banks already did this and may include other NON-HNI cards also
Example-
1.
Flipkart Axis-Main Utility MCC-4900 and other Similar MCC but not Utility also Excluded on the name of Utility

2
Cashback SBI( Main Utility MCC-4900 Excluded from launch and now they excluded similar MCC also which are non Utility but SBI considers them as Utility and also MCC-Railways and Gift Cards which is not excluded by any other Bank)

Customer did Manufacturered spends on SBI Gyftr, SBI excluded Gifts MCC to stop it.

3.and latest Axis Ace Capping.

Infact you can take Example of BOB.
BOB excluded Utility MCC for BOB Etrna but not Wallet MCC.
For BOB , Eterna is their Premium Card.
But BOB chooses to Block suspicious Wallet txns and Excluded Utility MCC instead of Blocking Suspicious Utility Txns and Excluding Wallet loads.

Every Bank Targeting Utility MCC and Excluding them.

Yes that's exactly my point as well.

The game is totally different for HNI Cards as the earning is in miles/points, whereas for cashback it is pure cash.

But, we never know, anything can happen!

 

[CardSeeker]

First 3 Months It Won't Be A Problem But Later U Might Face Issues Like Card Block Etc

Prepare For Everything

 

[Wealth is my birth right!]

For HNI cards, Probably they don't do it

But for cashback Cards , Banks already did this and may include other NON-HNI cards also
Example-
1.
Flipkart Axis-Main Utility MCC-4900 and other Similar MCC but not Utility also Excluded on the name of Utility

2
Cashback SBI( Main Utility MCC-4900 Excluded from launch and now they excluded similar MCC also which are non Utility but SBI considers them as Utility and also MCC-Railways and Gift Cards which is not excluded by any other Bank)

Customer did Manufacturered spends on SBI Gyftr, SBI excluded Gifts MCC to stop it.

3.and latest Axis Ace Capping.

Infact you can take Example of BOB.
BOB excluded Utility MCC for BOB Etrna but not Wallet MCC.
For BOB , Eterna is their Premium Card.
But BOB chooses to Block suspicious Wallet txns and Excluded Utility MCC instead of Blocking Suspicious Utility Txns and Excluding Wallet loads.

Every Bank Targeting Utility MCC and Excluding them.

Yes the 3 pointers are classic examples
But ur first line rocks the reality
10k fee card if Axis bank do things like for ltf cards then ppl will throw back Magnus card on axis face which is a revenue loss to them
Apart from card fee of 10k think if 50% of Magnus card holders spend 1l monthly how much mdr Axis bank earns
So let’s think at a big picture
On other side I am not recommending op for 80k spending in BharTnxt which is an alarm to get notice by card issuer

 

[4uziaul]

I think sooner or later they will limit these kind of transactions, rather than excluding them in the form of threshold or capping.

 

[NikTravelEnthusiast]

Yes the 3 pointers are classic examples
But ur first line rocks the reality
10k fee card if Axis bank do things like for ltf cards then ppl will throw back Magnus card on axis face which is a revenue loss to them
Apart from card fee of 10k think if 50% of Magnus card holders spend 1l monthly how much mdr Axis bank earns
So let’s think at a big picture
On other side I am not recommending op for 80k spending in BharTnxt which is an alarm to get notice by card issuer

On the same suggestions, I will try 30 K bank transfer via Magnus, and 30 K bank transfer via other premium card.

 

[PavvanPavvan is verified member.]

And adding to above stay away from SNAYPAY.. I have atleast know 2-3 people where huge transaction are on hold

 

[Wealth is my birth right!]

On the same suggestions, I will try 30 K bank transfer via Magnus, and 30 K bank transfer via other premium card.

Great
That also don’t do it every month
Just use BharTnxt for shortfall only to cover 1l
Mix with pos in card usage

 

[jaimingandhi64]

Great
That also don’t do it every month
Just use BharTnxt for shortfall only to cover 1l
Mix with pos in card usage

What is the criteria to join bhartnext? Do we need some special account to create? Or anyone can create it?

I am right now doing below hack to transfer money

I have 3 Rupay card

1) AXIS - IOCL ( 1 ER per 100 spent)
2) TATA NEU INFINITY (It's giving 1% cashback without caping of 500)
3) BOB HPCL(,Yet to see if i get any reward points since it's started appearing from yesterday only In the UPI App)

I am simply sending money and rotating between these 3 (before that only with AXIS -IOCL & TATA NEU INFINITY) for rough amount of 40k every month (not more than this) and also paying genuine card payment for my other cards like (Magnus, Sapphiro, RBL PLAY)

This way i have mix of manufactured + genuine transaction and at least it gives me 2.5k to 3k per month without spending extra penny

 

[Wealth is my birth right!]

What is the criteria to join bhartnext? Do we need some special account to create? Or anyone can create it?

I am right now doing below hack to transfer money

I have 3 Rupay card

1) AXIS - IOCL ( 1 ER per 100 spent)
2) TATA NEU INFINITY (It's giving 1% cashback without caping of 500)
3) BOB HPCL(,Yet to see if i get any reward points since it's started appearing from yesterday only In the UPI App)

I am simply sending money and rotating between these 3 (before that only with AXIS -IOCL & TATA NEU INFINITY) for rough amount of 40k every month (not more than this) and also paying genuine card payment for my other cards like (Magnus, Sapphiro, RBL PLAY)

This way i have mix of manufactured + genuine transaction and at least it gives me 2.5k to 3k per month without spending extra penny

Yes BharTnxt is an app like paytm where u need to create login and add card further create beneficiaries to transfer funds from cc

 

[jaimingandhi64]

Yes BharTnxt is an app like paytm where u need to create login and add card further create beneficiaries to transfer funds from cc

And money get instantly transferred or there is any timeline for the settlement?

 

[sheru]

On other side I am not recommending op for 80k spending in BharTnxt which is an alarm to get notice by card issuer

Bro.. I'm saying 70%-80% genuine spends and above that BharatNxt or Snapay.

Made corrections in 1st post as well so that to avoid confusion.

 

[Wealth is my birth right!]

And money get instantly transferred or there is any timeline for the settlement?

It have options so depending upon ur fee choice it gets credited to beneficiary

Bro.. I'm saying 70%-80% genuine spends and above that BharatNxt or Snapay.

Made corrections in 1st post as well so that to avoid confusion.

That’s fine then
Around 18 to 20k I too use BharTnxt but not all months like last month my Magnus card touched 3l in same month due to school fees

 

[ARV]

Please be careful when using BharatNXT, did a test transaction of 2k but my money is stuck for 20 days now and they are asking me to wait for 10 working days every time i message them. Please transact on your own risk. PS : support is real bad, they dont respond for days (both mail & whatsapp)