Need suggestion on my credit card portfolio

[neogen]

Hello all,

Here is the current list of cards that I have:

HDFC Infinia - | Limit 25L | LTF
Axis Atlas - | Limit 15L | Paid
Amex Platinum - | Limit 10L | Paid
SBI SimplyClick - | Limit 5L | Paid

A couple of months back I cancelled Axis Magnus and Axis Vistara Infinite.

Monthly spend is around 3L of which travel spend is around 0.75 to 1L per month.

Thoughts / suggestion to make amendments to my credit card portfolio ?

TIA

 

[Riya Sharma]

Get rid of the SBI SimplyClick and get SBI Cashback. Maybe get the IDFC Wealth card for government payments and since it is LTF you will have a Forex alternative. Get Amex MRCC/Gold and that should be it.

 

[neogen]

Get rid of the SBI SimplyClick and get SBI Cashback. Maybe get the IDFC Wealth card for government payments and since it is LTF you will have a Forex alternative. Get Amex MRCC/Gold and that should be it.

Thanks.

Never thought about IDFC wealth card. Can I get on C2C basis? What will be best place to apply online or Airport?

Somehow, I am not very clear on what benefits will I get by switching to SBI cashback? I am holding SBI just of online sales discount.

Should I increase limit on my existing Infinia? any benefit?

 

[Riya Sharma]

Thanks.

Never thought about IDFC wealth card. Can I get on C2C basis? What will be best place to apply online or Airport?

Somehow, I am not very clear on what benefits will I get by switching to SBI cashback? I am holding SBI just of online sales discount.

Should I increase limit on my existing Infinia? any benefit?

Yeah, if you're going to be at the airport anytime soon, I think it'll be better to do it there otherwise I am pretty sure you'll get the card anyway with a good limit if you apply c2c online. Sure, keep the SBI then as it is for sales. I don't see any harm in trying to increase infinia limit but no there won't be any major benefits other than lowering your utilization.

 

[drsel]

Get rid of SBI Simply click and apply for Magnus Burgundy with 10 lakhs in savings account.
You will get 24% return on flights and Grabdeals and Giftedge
You will get 14% return on all other spends over 1.5 lakhs every month.

The only close competitor is HDFC infinia for spends on Amazon pay, Pharmeasy and hotels on Smartbuy

 

[SSV]

Get rid of SBI Simply click and apply for Magnus Burgundy with 10 lakhs in savings account.
You will get 24% return on flights and Grabdeals and Giftedge
You will get 14% return on all other spends over 1.5 lakhs every month.
No other card comes even close.

Hi,
Can you post here your calculation on Magnus about 6 months ago .. just for comparision .. for record pls..
or post the link here of your post .. thanks

 

[TheTrickySid]

Should I increase limit on my existing Infinia? any benefit?

Aur kitni limit badhaoge Bhai??
Ghar loge kya CC se ab

 

[SSV]

Hello all,

Here is the current list of cards that I have:

HDFC Infinia - | Limit 25L | LTF
Axis Atlas - | Limit 15L | Paid
Amex Platinum - | Limit 10L | Paid
SBI SimplyClick - | Limit 5L | Paid

A couple of months back I cancelled Axis Magnus and Axis Vistara Infinite.

Monthly spend is around 3L of which travel spend is around 0.75 to 1L per month.

Thoughts / suggestion to make amendments to my credit card portfolio ?

TIA

Can you broadly categorise your monthly non- travel spends of 2 to 2.25 L pm.. so that people can give you suitable recommendations .

 

[SSV]

Should I increase limit on my existing Infinia? any benefit?

There is no real use to increase your limit on Infinia beyond your current limit.
On the contrary , It actually could backfire..
I believe you wont get any SBI card rn.. unless your income is very very high .

 

[neogen]

I believe you wont get any SBI card rn.. unless your income is very very high .

Meaning? Whats the issue?

Will simplyclick to cashback be counted as upgrade or cancel / fresh application?

 

[Nishan11]

Meaning? Whats the issue?

Will simplyclick to cashback be counted as upgrade or cancel / fresh application?

Kindly remember cashbsck card is mostly not eligible for Amazon/flipkart sale.

 

[SSV]

Meaning? Whats the issue

Over leveraged/ highly leveraged..
Means your total sanctioned unsecured credit limit to your reported yearly income ratio is high..

Will simplyclick to cashback be counted as upgrade or cancel / fresh application?

If it is done internally with out any separate specific application then no worries.
But if you have to apply from online / offline then high leverage could comes into play.

I am not saying you currently have this problem..
Having very high credit limits could cause thus issue.

 

[neogen]

Over leveraged/ highly leveraged..
Means your total sanctioned unsecured credit limit to your reported yearly income ratio is high..

What should be the ideal ratio?

From where does CIBIL takes the income data?

 

[neogen]

Kindly remember cashbsck card is mostly not eligible for Amazon/flipkart sale.

Oh ok, I guess I will continue with SBI SimplyClick

 

[SSV]

What should be the ideal ratio?

I dint know this number, but this should Ideally be less . The less the better and each bank have their own number ...

From where does CIBIL takes the income data?

Cibil doesn't take this number from anywhere.
Cibil doesn't calculate this ratio.
The banks calculate the ratio based on the total.income your provide during application..

The total CL will be taken from Cibil
The total income taken from your application

 

[neogen]

Thanks all.

Should I add HSBC Premier Credit Card to my portfolio?

BTW, still mulling over IDFC wealth card.