Please suggest on how to maximize reward points - Buying a car with Credit Cards

[luckymurari]

Hi,

My father is buying a car and we are due to pay ~12Lac in the next two days. They are charging additional 2% card charges if paid by credit card. Please suggest on how to optimize these for reward maximization.

Cards I possess:

Cards that could potentially give >2% returns:
- Axis Magnus
- HDFC Diners Club Black
- Amex MRCC

Others:
- AU Zenith
- SBI Simpliclick
- ICICI Sapphiro
- IDFC Wealth
- IndusInd Legend
- Bob Premier

 

[SiddharthR]

Do check this out for extra upto 2%(if Opened two savings account) or upto 1.4%(if one savings account opened)

 

[luckymurari]

Do check this out for extra upto 2%(if Opened two savings account) or upto 1.4%(if one savings account opened)

I do not have an RBL account and need this in 2 days 🙁

 

[Copycat]

I do not have an RBL account and need this in 2 days 🙁

That is for paying back the credit card bill. You should get the card within 10 days (probably earlier)

 

[sathish]

did you have rupay card. ask dealer rupay is free no service charge

 

[ltf4ever]

did you have rupay card. ask dealer rupay is free no service charge

bob premier is on rupay.
so Rupay cc has 0 mdr?

 

[sathish]

bob premier is on rupay.
so Rupay cc has 0 mdr?

yes

 

[sourpai]

Please push them to reduce the charges to 1.5%. Initially they always say 2%, But MDR charged to them is around 1.49%.

Few months back I did a transaction with Hyundai and they charged additional 1.5%. I used DCB and IDFC Wealth which give 3.3% and 2.5% respectively. Used Axis FK also, but it was net net. Didn't have Magnus back then

 

[luckymurari]

That is for paying back the credit card bill. You should get the card within 10 days (probably earlier)

Ohh awesome. Thanks for clarifying. We can get the card in 10 days even without existing bank account?

 

[SiddharthR]

Ohh awesome. Thanks for clarifying. We can get the card in 10 days even without existing bank account?

How can you get DC without bank account!?🤦🏻‍♂️
You need to open an account first

 

[luckymurari]

did you have rupay card. ask dealer rupay is free no service charge

Have a Bob Premier Rupay card but has only 75K limit 🙁 Also, the dealer is not willing to give it free of charge 🙁

Please push them to reduce the charges to 1.5%. Initially they always say 2%, But MDR charged to them is around 1.49%.

Few months back I did a transaction with Hyundai and they charged additional 1.5%. I used DCB and IDFC Wealth which give 3.3% and 2.5% respectively. Used Axis FK also, but it was net net. Didn't have Magnus back then

Thank you for this. Asked them..will see if they will budge

 

[Theo]

Hi,

My father is buying a car and we are due to pay ~12Lac in the next two days. They are charging additional 2% card charges if paid by credit card. Please suggest on how to optimize these for reward maximization.

Cards I possess:

Cards that could potentially give >2% returns:
- Axis Magnus
- HDFC Diners Club Black
- Amex MRCC

Others:
- AU Zenith
- SBI Simpliclick
- ICICI Sapphiro
- IDFC Wealth
- IndusInd Legend
- Bob Premier

Pay thru BharatNXT it will cost you 1.1%+GST

 

[luckymurari]

Pay thru BharatNXT it will cost you 1.1%+GST

Thanks for BharatNxt -> planning to pay with this only. But which credit card to use is the confusion -> for example, DCB has a daily limit of 2.5K points and hence want to know which card allows high value payments

 

[Theo]

Thanks for BharatNxt -> planning to pay with this only. But which credit card to use is the confusion -> for example, DCB has a daily limit of 2.5K points and hence want to know which card allows high value payments

I think that limit is only for smartbuy. However, what you will need to see is the merchant code classification some cards may not give points on that

 

[gurubhai]

Thanks for BharatNxt -> planning to pay with this only. But which credit card to use is the confusion -> for example, DCB has a daily limit of 2.5K points and hence want to know which card allows high value payments

That Daily limit is of accelerated points? right?
Normal ones can be earned more than 2.5K?
Or have I misunderstood something 🙁

 

[nikhilvaibhav]

did you have rupay card. ask dealer rupay is free no service charger

Rupay CC is not free, I was told that its free but then the dealer showed me that there was 1.5% deduction. Please clarify before hand.

 

[Copycat]

Ohh awesome. Thanks for clarifying. We can get the card in 10 days even without existing bank account?

You open an account and apply for the debit card at the same time. You'll still get it within 10 days

 

[lhgeek]

I was able to push a Toyota dealer to accept 1%. Used my HDFC DCB to buy the car and worked out pretty well.. approx 2.3% rewards.. i.e 3.3% - 1%

 

[luckymurari]

I was able to push a Toyota dealer to accept 1%. Used my HDFC DCB to buy the car and worked out pretty well.. approx 2.3% rewards.. i.e 3.3% - 1%

Awesome, Was there no limit on the points to be earned? Did everything work for you?

 

[sourpai]

Yes 1% is also possible, but it actually depends on situation at that time. Dealer may agree for some freebies + 1.5% charge or NO freebies and 1% charge. So you can check what situation is beneficial to you and negotiate accordingly.

If the billing is towards month end, dealer may agree for better rates since they have to close the books and show the sale.