RewardsAlert
TF Legend
Dear TFC members,
It brings me joy and proud to share with all of you that our beloved Founder - Mr. Sumanta Mandal has been featured in Indias Top Credit Card Enthusiasts among 3 other people.
This list was curated by an active Twitter journalist and Deputy Editor - Neil Borate working in Livemint.
Here is the tweet posted by him:
Today we bring you the story of India’s credit card nerds (called CC Geeks). These are people who spend hours researching credit cards and trying to extract the most rewards possible from them. They sometimes manage to get rewards worth lakhs of rupees (yields of as much as 60% on their spending). But this hobby is not for everyone! Why? They spend a lot of money through credit cards. Sometimes this runs into crores. This is because credit card reward programs are designed to yield the most at high spending levels. They buy expensive credit cards with large annual fees. It is these cards that generally come with generous rewards programs They buy dozens of cards (in one case we featured - 51 cards). Why? They make sure to use the right card for each type of spend. For example, a travel card while booking tickets and hotels. If you go further levels down, for instance using a co-branded card while shopping at a particular brand store, you can easily end up with 50 cards. Using the right card gets the most rewards. These credit card reward programs can incentivize you to spend more than you normally would. If you are wondering about the TCS on spends above 7 lakhs, yes they will hit the CC Geeks and their calculations. However unless the banks drastically alter their credit card reward programs, the geeks will only see the tax as a cash-flow issue.
Full article here: https://www.livemint.com/money/pers...t-spending-a-single-penny-11684860986153.html
It is an honour for all of us to be under guidance and a part of this wonderful community founded by such amazing and talented people.
Thanks
It brings me joy and proud to share with all of you that our beloved Founder - Mr. Sumanta Mandal has been featured in Indias Top Credit Card Enthusiasts among 3 other people.
This list was curated by an active Twitter journalist and Deputy Editor - Neil Borate working in Livemint.
Here is the tweet posted by him:
Today we bring you the story of India’s credit card nerds (called CC Geeks). These are people who spend hours researching credit cards and trying to extract the most rewards possible from them. They sometimes manage to get rewards worth lakhs of rupees (yields of as much as 60% on their spending). But this hobby is not for everyone! Why? They spend a lot of money through credit cards. Sometimes this runs into crores. This is because credit card reward programs are designed to yield the most at high spending levels. They buy expensive credit cards with large annual fees. It is these cards that generally come with generous rewards programs They buy dozens of cards (in one case we featured - 51 cards). Why? They make sure to use the right card for each type of spend. For example, a travel card while booking tickets and hotels. If you go further levels down, for instance using a co-branded card while shopping at a particular brand store, you can easily end up with 50 cards. Using the right card gets the most rewards. These credit card reward programs can incentivize you to spend more than you normally would. If you are wondering about the TCS on spends above 7 lakhs, yes they will hit the CC Geeks and their calculations. However unless the banks drastically alter their credit card reward programs, the geeks will only see the tax as a cash-flow issue.
Full article here: https://www.livemint.com/money/pers...t-spending-a-single-penny-11684860986153.html
It is an honour for all of us to be under guidance and a part of this wonderful community founded by such amazing and talented people.
Thanks
