Need advise for Getting Infinia

[Wraith6201]

Currently my net salary is around 60K. After my first increment this year I'm thinking of getting a home loan of maximum 50L. I have my salary account in HDFC. So I'm thinking of taking the loan through them. Is there a possibility to negotiate for Paid Infinia with the loan somehow?

I hold HDFC Millennia with 1.79L limit, Axis atlas and Flipkart with combined limit of 1.78L, SC Smart with 60K and SBI Cashback with 58K limit. My CIBIL is 787.

I'm new in this credit card game. That's why I need some guidance.

 

[Shubham330Shubham330 is verified member.]

Hdfc does not consider Home loan under Relationship for credit card. So it's difficult. But you can Negotiate with BM or Loan executive if he can do it from his side

 

[VasukiVasuki is verified member.]

Currently my net salary is around 60K. After my first increment this year I'm thinking of getting a home loan of maximum 50L. I have my salary account in HDFC. So I'm thinking of taking the loan through them. Is there a possibility to negotiate for Paid Infinia with the loan somehow?

I hold HDFC Millennia with 1.79L limit, Axis atlas and Flipkart with combined limit of 1.78L, SC Smart with 60K and SBI Cashback with 58K limit. My CIBIL is 787.

I'm new in this credit card game. That's why I need some guidance.

Get amex
Focus on increasing limit on hdfc
INFINIA is 7 lakh away
Do 9 lakh fd your limit will be 8+ lakh then spend 6 lakh in 6 months

 

[_amit_]

Currently my net salary is around 60K. After my first increment this year I'm thinking of getting a home loan of maximum 50L. I have my salary account in HDFC. So I'm thinking of taking the loan through them. Is there a possibility to negotiate for Paid Infinia with the loan somehow?

I hold HDFC Millennia with 1.79L limit, Axis atlas and Flipkart with combined limit of 1.78L, SC Smart with 60K and SBI Cashback with 58K limit. My CIBIL is 787.

I'm new in this credit card game. That's why I need some guidance.

Definitely worth a try if you can utilise Infinia and Infinia meet your needs otherwise go with better rate with easy foreclose and prepayment banks.

Loan products are not only commission based but also branch related.
A willing Branch manager should be able to help you out.

Ask few different branches and get in writing if anyone obliges.

 

[RDR]

Currently my net salary is around 60K. After my first increment this year I'm thinking of getting a home loan of maximum 50L. I have my salary account in HDFC. So I'm thinking of taking the loan through them. Is there a possibility to negotiate for Paid Infinia with the loan somehow?

I hold HDFC Millennia with 1.79L limit, Axis atlas and Flipkart with combined limit of 1.78L, SC Smart with 60K and SBI Cashback with 58K limit. My CIBIL is 787.

I'm new in this credit card game. That's why I need some guidance.

Try to get loan offers with similar or better rates from other banks to make your case stronger.

 

[Wraith6201]

Try to get loan offers with similar or better rates from other banks to make your case stronger.

AFAIK SBI provides better rates... They provide best rates if CIBIL is 800+. I think way to infinia is a long journey. So better prioritise the home loan rate.

But I will talk to branch manager first if they can provide infinia. Nothing wrong in trying😂

 

[coolguy1]

Arm twist the loan manager to get you the Infinia card or else you will take the loan from elsewhere.
Try different branches if needed, I'm sure one of them would agree.

Having other cards definitely helps. They will help you in building the score faster in the long term and make getting other cards easier!

 

[Wraith6201]

Get amex
Focus on increasing limit on hdfc
INFINIA is 7 lakh away
Do 9 lakh fd your limit will be 8+ lakh then spend 6 lakh in 6 months

I am thinking of getting Amex Gold card. It's a great replacement for Infinia Smartbuy voucher combo replacement.

If I buy 6000 Rs voucher every month, then I can get 19200 Points every year. But it gives max value if used for marriot. But infinia also has limitation of 70 percent usage in travel platform, tanishq voucher and apple product. Also amex sometimes waives the fees by almost 50 percent by just one call. Also reward multiplier is a there. I will be paying bills with amazon pay vouchers. So in terms of amex points I get almost 18 percent return if I transfer points to marriot.

What do you think? Is it a good strategy? First I'll try for Infinia through home loan. Ik chances are low. But still I'll try.

 

[Wraith6201]

Arm twist the loan manager to get you the Infinia card or else you will take the loan from elsewhere.
Try different branches if needed, I'm sure one of them would agree.

Having other cards definitely helps. They will help you in building the score faster in the long term and make getting other cards easier!

Alright, thanks for the advice. This definitely boosted my confidence.

 

[VasukiVasuki is verified member.]

I am thinking of getting Amex Gold card. It's a great replacement for Infinia Smartbuy voucher combo replacement.

If I buy 6000 Rs voucher every month, then I can get 19200 Points every year. But it gives max value if used for marriot. But infinia also has limitation of 70 percent usage in travel platform, tanishq voucher and apple product. Also amex sometimes waives the fees by almost 50 percent by just one call. Also reward multiplier is a there. I will be paying bills with amazon pay vouchers. So in terms of amex points I get almost 18 percent return if I transfer points to marriot.

What do you think? Is it a good strategy? First I'll try for Infinia through home loan. Ik chances are low. But still I'll try.

Thread 'Amex Trifecta - Optimal Usage Guide' https://www.technofino.in/community/threads/amex-trifecta-optimal-usage-guide.2146/

Check out

 

[NABNAB is verified member.]

Putting Infinia aside,
50Lac Home Loan on 60K net salary is itself very bad idea. (Even we consider 20% increment, it's a bad idea.)

EMI and expenses will be around 50K per month. ( 1K per 1 Lac of Loan, General Calculation)

 

[Wraith6201]

Putting Infinia aside,
50Lac Home Loan on 60K net salary is itself very bad idea. (Even we consider 20% increment, it's a bad idea.)

EMI and expenses will be around 50K per month. ( 1K per 1 Lac of Loan, General Calculation)

Actually I was thinking of keeping my EMI under 30k. My expenses are 20K. Seeing previous year records I think my net will be 70K after increment. Which leaves 20K in my hand every hand. Is it not sufficient?

If not how long should I wait before getting home loan. I actually need advice in this matter also. Glad you said your opinion.

 

[VasukiVasuki is verified member.]

Actually I was thinking of keeping my EMI under 30k. My expenses are 20K. Seeing previous year records I think my net will be 70K after increment. Which leaves 20K in my hand every hand. Is it not sufficient?

If not how long should I wait before getting home loan. I actually need advice in this matter also. Glad you said your opinion.

Buying home is emotional decision
But buying experience is personal/ societal pressure
If you aren't planning child in next 5 years go ahead
Else better invest and have corpus than giving everything into home

 

[tachniki]

Actually I was thinking of keeping my EMI under 30k. My expenses are 20K. Seeing previous year records I think my net will be 70K after increment. Which leaves 20K in my hand every hand. Is it not sufficient?

If not how long should I wait before getting home loan. I actually need advice in this matter also. Glad you said your opinion.

Very doubtful that banks will give loan with emi as 70% of salary. Usual norm is about 50%.

 

[Virtual King]

Is there a possibility to negotiate for Paid Infinia with the loan somehow?

The latest Infinia eligibility rules are attached. You can check these.

Taking a loan based on the inputs you have given is definitely not recommended. But then, it's your call.

Also, negotiating with the BM/RM for Infinia may/may not yield success as it is entirely dependent on his/her competence. You must try though - it might just work in your favour.

Do keep in mind that with 20K-30K disposable income per month, putting most of your day-to-day expenses on Infinia might need some detailed analysis on your part. If there are no big-ticket expenses planned - like air travel, vacations, hotel stays, buying jewellery, et al - then optimizing Infinia for best reward rate and utilisation of reward points will definitely require some deliberate planning and execution.

Also, many of Infinia's benefits - lounges, golf, ITC offers, etc may become redundant for your use case. Ergo, you may consider some other card based on your specific lifestyle needs and use cases.

In case you need a guide on Infinia, you can check here.

Hope this helps. 🙂

 

[Wraith6201]

Very doubtful that banks will give loan with emi as 70% of salary. Usual norm is about 50%.

Actually I haven't decided anything on the property. It could be even 35L also. Also they give 80-90 Percent of the property value as loan. I just said 50L would be highest. But i have seen properties of way less value.

If my salary is 70K after increment, I'll maybe try to see a property so that my emi will be less than 30K. Its below 50 percent of my salary.

 

[Wraith6201]

The latest Infinia eligibility rules are attached. You can check these.

Taking a loan based on the inputs you have given is definitely not recommended. But then, it's your call.

Also, negotiating with the BM/RM for Infinia may/may not yield success as it is entirely dependent on his/her competence. You must try though - it might just work in your favour.

Do keep in mind that with 20K-30K disposable income per month, putting most of your day-to-day expenses on Infinia might need some detailed analysis on your part. If there are no big-ticket expenses planned - like air travel, vacations, hotel stays, buying jewellery, et al - then optimizing Infinia for best reward rate and utilisation of reward points will definitely require some deliberate planning and execution.

Also, many of Infinia's benefits - lounges, golf, ITC offers, etc may become redundant for your use case. Ergo, you may consider some other card based on your specific lifestyle needs and use cases.

In case you need a guide on Infinia, you can check here.

Hope this helps. 🙂

For lounges I already have Atlas.
ITC Offer is not useful for me because I will use Atlas Miles for hotel bookings.
Golf is hell no.
Only thing is soo good about Infinia is smartbuy vouchers. Also I can use those points to book flights. I go to Kolkata 2-3 times a year from Delhi.

 

[Wraith6201]

Buying home is emotional decision
But buying experience is personal/ societal pressure
If you aren't planning child in next 5 years go ahead
Else better invest and have corpus than giving everything into home

I am just 23. I'm just working for 1.5 Years. I'm sure won't marry until 28😂. Why ruin my own life in such early time.

I already have a property in a city. But taking a property in Siliguri is my dream. So that anywhere I work, i can take a flight to Siliguri for holidays. My hometown doesn't have any airport. Also Siliguri is 4 hrs train journey away from my hometown. Also I thought it would be a great investment as Siliguri is growing rapidly.

I have 5L in savings. If I take the home I'll have to use all of that. My dad said he will help. I don't want to take from him but I have a good support from him in any case.

Thanks for your advice though. I'll rethink everything again and decide.