Need card portfolio buildup suggestions from experts

[zenchill]

I am self employed individual (WFH) with business vintage of 10+ years, all ITRs available, decent cibil of 750+ and a SBI simply save cc with a limit of 100500. Holding it from 2018. No loans etc but I want to now build my cc portfolio.

Mostly use it for online purchases and need cards that may offer a PL from time to time since it’s hard to get a PL being self employed using the regular bank route and NBFCs are way too expensive with ROI.

I have been thinking of applying card to card way to bypass office verification since I WFH.

I was thinking Amazon ICICI or SBI cashback but I heard ICICI Amazon has high decline rate and also since I already have one SBI card so not sure if opting for SBI cashback is a good idea.

Have banked with SBI mostly and hence no private banks have offered me any cards from my banking history. Recently opened AU digital savings bank account and they are offering LIT but I didn’t like the card much. Plus the limit they say will be revealed only after hard enquiry, so haven’t explore.

Which cards and which way should I proceed. Experts please suggest.

 

[Tejo]

I am self employed individual (WFH) with business vintage of 10+ years, all ITRs available, decent cibil of 750+ and a SBI simply save cc with a limit of 100500. Holding it from 2018. No loans etc but I want to now build my cc portfolio.

Mostly use it for online purchases and need cards that may offer a PL from time to time since it’s hard to get a PL being self employed using the regular bank route and NBFCs are way too expensive with ROI.

I have been thinking of applying card to card way to bypass office verification since I WFH.

I was thinking Amazon ICICI or SBI cashback but I heard ICICI Amazon has high decline rate and also since I already have one SBI card so not sure if opting for SBI cashback is a good idea.

Have banked with SBI mostly and hence no private banks have offered me any cards from my banking history. Recently opened AU digital savings bank account and they are offering LIT but I didn’t like the card much. Plus the limit they say will be revealed only after hard enquiry, so haven’t explore.

Which cards and which way should I proceed. Experts please suggest.

Sbi cashback card offered with bey low limit, new customers should not apply this card*

* Just apply amazon pay card
-- Everyone using amazon and 99.9% of them who knew about cc will apply, just say for how many they will give, % + numbers ?

On c2c you can apply axis and hdfc cards.

 

[zenchill]

Thanks for your suggestion. Do we have an online portal like sprint or AU swipe up for Axis or HDFC C2C? Or should one go through agents?

 

[Tejo]

Thanks for your suggestion. Do we have an online portal like sprint or AU swipe up for Axis or HDFC C2C? Or should one go through agents?

Through agents only for axis and hdfc

 

[coolguy1]

Depending on your spending categories, here are a few suggestions:

1. Amazon ICICI Card - Easiest to get, if you see a notification on the Amazon app, even better and should get approved instantly.
5% flat cashback on Amazon but will mostly become a backup card once you've other cards.

2. Axis Vistara Signature - If you fly a lot using Vistara, this could be a good one. Can be applied using C2C so income docs shouldn't be needed.
Offers up to 4 free Vistara Economy tickets every year and you can look at Vistara Signature if your spends are high and business tickets interest you.

3. HDFC Swiggy - If you order from Swiggy a lot, again, would be much easier to get if you see a pre-approved notification on the Swiggy/HDFC app.
Offers 10% discount on Swiggy and 5% on a lot of other online merchants.

4. Amex MRCC - Saved the best for the last. This the talk of the town and known for the highest reward rates.
Offers 16.667% returns if you spend 6k every month, you get 1k bonus bonus and 2k bonus points on 20k spends monthly.
(These are on top of the already awarded points that you will get for your purchase, can buy vouchers for 2x multipliers as well)

5. Amex Plat Travel - If you can spend 4L per year using this, this is hands down the best card.
It will get you 40K MR points and 10k Taj voucher on top of the reward points you earn for your purchases.

Amex has the fastest and the easiest application process and the company been on an expansion mode lately so acceptance should be easy with a good CIBIL and if you apply using an invite link, the first year fee is completely free which is the cherry on the cake! 🙂

 

[zenchill]

Depending on your spending categories, here are a few suggestions:

1. Amazon ICICI Card - Easiest to get, if you see a notification on the Amazon app, even better and should get approved instantly.
5% flat cashback on Amazon but will mostly become a backup card once you've other cards.

2. Axis Vistara Signature - If you fly a lot using Vistara, this could be a good one. Can be applied using C2C so income docs shouldn't be needed.
Offers up to 4 free Vistara Economy tickets every year and you can look at Vistara Signature if your spends are high and business tickets interest you.

3. HDFC Swiggy - If you order from Swiggy a lot, again, would be much easier to get if you see a pre-approved notification on the Swiggy/HDFC app.
Offers 10% discount on Swiggy and 5% on a lot of other online merchants.

4. Amex MRCC - Saved the best for the last. This the talk of the town and known for the highest reward rates.
Offers 16.667% returns if you spend 6k every month, you get 1k bonus bonus and 2k bonus points on 20k spends monthly.
(These are on top of the already awarded points that you will get for your purchase, can buy vouchers for 2x multipliers as well)

5. Amex Plat Travel - If you can spend 4L per year using this, this is hands down the best card.
It will get you 40K MR points and 10k Taj voucher on top of the reward points you earn for your purchases.

Amex has the fastest and the easiest application process and the company been on an expansion mode lately so acceptance should be easy with a good CIBIL and if you apply using an invite link, the first year fee is completely free which is the cherry on the cake! 🙂

Thanks a lot for your help. How to go about for Amex cards? Any links or invite links? I have a good cibil, a sbi card like i mentioned but wfh business so office physical verification is my problem. C2C with Amex or without dedicated office I can apply. Pls share any links if possible. Thanks again for the choices man. Much appreciated 👍

 

[Deleted member 23535]

Depending on your spending categories, here are a few suggestions:

1. Amazon ICICI Card - Easiest to get, if you see a notification on the Amazon app, even better and should get approved instantly.
5% flat cashback on Amazon but will mostly become a backup card once you've other cards.

2. Axis Vistara Signature - If you fly a lot using Vistara, this could be a good one. Can be applied using C2C so income docs shouldn't be needed.
Offers up to 4 free Vistara Economy tickets every year and you can look at Vistara Signature if your spends are high and business tickets interest you.

3. HDFC Swiggy - If you order from Swiggy a lot, again, would be much easier to get if you see a pre-approved notification on the Swiggy/HDFC app.
Offers 10% discount on Swiggy and 5% on a lot of other online merchants.

4. Amex MRCC - Saved the best for the last. This the talk of the town and known for the highest reward rates.
Offers 16.667% returns if you spend 6k every month, you get 1k bonus bonus and 2k bonus points on 20k spends monthly.
(These are on top of the already awarded points that you will get for your purchase, can buy vouchers for 2x multipliers as well)

5. Amex Plat Travel - If you can spend 4L per year using this, this is hands down the best card.
It will get you 40K MR points and 10k Taj voucher on top of the reward points you earn for your purchases.

Amex has the fastest and the easiest application process and the company been on an expansion mode lately so acceptance should be easy with a good CIBIL and if you apply using an invite link, the first year fee is completely free which is the cherry on the cake! 🙂

How amex mrcc gives 16%
Can you pls explain

 

[SSV]

I am self employed individual (WFH) with business vintage of 10+ years, all ITRs available, decent cibil of 750+ and a SBI simply save cc with a limit of 100500. Holding it from 2018. No loans etc but I want to now build my cc portfolio.

Mostly use it for online purchases and need cards that may offer a PL from time to time since it’s hard to get a PL being self employed using the regular bank route and NBFCs are way too expensive with ROI.

I have been thinking of applying card to card way to bypass office verification since I WFH.

I was thinking Amazon ICICI or SBI cashback but I heard ICICI Amazon has high decline rate and also since I already have one SBI card so not sure if opting for SBI cashback is a good idea.

Have banked with SBI mostly and hence no private banks have offered me any cards from my banking history. Recently opened AU digital savings bank account and they are offering LIT but I didn’t like the card much. Plus the limit they say will be revealed only after hard enquiry, so haven’t explore.

Which cards and which way should I proceed. Experts please suggest.

First thing ": are you from metro / non metro location ?
Why did n't you consider opening a SB account with HDFC/ICICI/AXIS??
Because this will give a way for your PL requirements along with other future requirements you may have..
Regarding the CCs , it depends on your spends pattern .

 

[SSV]

I am self employed individual (WFH) with business vintage of 10+ years, all ITRs available, decent cibil of 750+ and a SBI simply save cc with a limit of 100500. Holding it from 2018. No loans etc but I want to now build my cc portfolio.

Mostly use it for online purchases and need cards that may offer a PL from time to time since it’s hard to get a PL being self employed using the regular bank route and NBFCs are way too expensive with ROI.

I have been thinking of applying card to card way to bypass office verification since I WFH.

I was thinking Amazon ICICI or SBI cashback but I heard ICICI Amazon has high decline rate and also since I already have one SBI card so not sure if opting for SBI cashback is a good idea.

Have banked with SBI mostly and hence no private banks have offered me any cards from my banking history. Recently opened AU digital savings bank account and they are offering LIT but I didn’t like the card much. Plus the limit they say will be revealed only after hard enquiry, so haven’t explore.

Which cards and which way should I proceed. Experts please suggest.

WIth your profile you can get quite a few cards..
Why is your CIBIL is so low , considering you have only one CC as of now?
As you are WFH, your location matters while acquiring new CC s.

 

[cardy]

Off-line card to card will be best method for you. Go to the nearest branch of HDFC, AXIS, BOB and ICICI, tell them you want credit card, generally all these branches have credit card official. Contact with him/her apply card to card.

Since you have 1L credit limit on sbi card most probably you will get matching limit.

Besides hdfc and axis offers instant loans within a year.

I think these will be good for you.

 

[coolguy1]

How amex mrcc gives 16%
Can you pls explain

Buying 6k vouchers from the Multiplier portal will get you 240 points and you get additional 1000 bonus points on 6k spends.
That's 1240 points for 6000 which is around 20% return if you redeem them for Marriott hotel stays.

And even if you do normal spends, 1000 points on 6000 spends would still be 16.667% return if you redeem them at Marriott.
There's even a bonus 30% redemption bonus on points transfer so that makes this number even higher but you get the idea.
(Redemption is the key here so clarification would be you can earn up to 16.667% returns or more based on where you redeem your points)

 

[Tejo]

Depending on your spending categories, here are a few suggestions:

1. Amazon ICICI Card - Easiest to get, if you see a notification on the Amazon app, even better and should get approved instantly.
5% flat cashback on Amazon but will mostly become a backup card once you've other cards.

2. Axis Vistara Signature - If you fly a lot using Vistara, this could be a good one. Can be applied using C2C so income docs shouldn't be needed.
Offers up to 4 free Vistara Economy tickets every year and you can look at Vistara Signature if your spends are high and business tickets interest you.

3. HDFC Swiggy - If you order from Swiggy a lot, again, would be much easier to get if you see a pre-approved notification on the Swiggy/HDFC app.
Offers 10% discount on Swiggy and 5% on a lot of other online merchants.

4. Amex MRCC - Saved the best for the last. This the talk of the town and known for the highest reward rates.
Offers 16.667% returns if you spend 6k every month, you get 1k bonus bonus and 2k bonus points on 20k spends monthly.
(These are on top of the already awarded points that you will get for your purchase, can buy vouchers for 2x multipliers as well)

5. Amex Plat Travel - If you can spend 4L per year using this, this is hands down the best card.
It will get you 40K MR points and 10k Taj voucher on top of the reward points you earn for your purchases.

Amex has the fastest and the easiest application process and the company been on an expansion mode lately so acceptance should be easy with a good CIBIL and if you apply using an invite link, the first year fee is completely free which is the cherry on the cake! 🙂

I have swiggy card notification in swiggy app.

Hdfc moneyback business card with 50k 😅 and rupay virtual card .... 6 months+ old

Any suggestions, regarding swiggy card?

 

[zenchill]

Off-line card to card will be best method for you. Go to the nearest branch of HDFC, AXIS, BOB and ICICI, tell them you want credit card, generally all these branches have credit card official. Contact with him/her apply card to card.

Since you have 1L credit limit on sbi card most probably you will get matching limit.

Besides hdfc and axis offers instant loans within a year.

I think these will be good for you.

Thanks this is helpful

 

[SSV]

I'm in a tier 2 non metro but urban city.
Cibil is around 770. Hardly touched 800 mark I think but I have just tracked off and on. No physical office is what puts off my profile with agents. Or they offer C2C which are ordinary cards. So I'm exploring.

That is the issue here, if you are from Metro they most likey even don't do home/office verification most of the times..
In your case, having a bank account in one of the 3 big banks will help and you can slowly build up your portfolio..

 

[coolguy1]

I have swiggy card notification in swiggy app.

Hdfc moneyback business card with 50k 😅 and rupay virtual card .... 6 months+ old

Any suggestions, regarding swiggy card?

You can have 1 core and 2 co-branded credit cards with HDFC so if the CIBIL is looking good, you should be able to apply.
Just ensure not too many queries over the last 6 months, HDFC and Axis have been acting weird lately and rejecting applications for random reasons.