Dear Friends,
This is my first post on the Technofino Community and at the outset I would like to congratulate and thank everyone here for creating this amazing platform for sharing knowledge.
While I have been using credit cards for a few years now, it was not until recently that I realized the true potential of cashbacks, rewards and miles and how much I have been missing out on. So now trying to learn the game.
Below is the list of my cards and how I use/plan to use them. Request fellow members to suggest the following:
Thanking all in advance.
This is my first post on the Technofino Community and at the outset I would like to congratulate and thank everyone here for creating this amazing platform for sharing knowledge.
While I have been using credit cards for a few years now, it was not until recently that I realized the true potential of cashbacks, rewards and miles and how much I have been missing out on. So now trying to learn the game.
Below is the list of my cards and how I use/plan to use them. Request fellow members to suggest the following:
- Would like to consolidate and reduce the number of cards. Please suggest which ones I should let go off (Would like to have as few cards as possible, but also attract max value)
- Please check if the category of spends I use for the cards is optimal, else suggest a better match for spend category and cards
- For optimizing point 2, please suggest if I need any other card for any particular spend category. While I know as per point 1 I want to reduce cards, but if there’s a card that will add substantial value, I am open to it
- Should I get the HDFC Tata Neu Infinity card? Is it worth it if I am getting the Plus version LTF instead of Infinity? Reasons for considering it – (i) I do not have any RuPay credit cards (ii) I do not have any HDFC cards currently and I am assuming that most offers on electronics and online sales on HDFC bank maybe accessed with this card (iii) Not on the Tata ecosystem at all but do use 1Mg a lot for medicines (parents and in-laws) and BbDaily for a moderate amount each month. Is it worth it to add the card for this?
| Card | Fees | Spend Categories | Remarks |
| Axis Magnus | 10,000 | 1. Mostly spend from this card only in those months where expected spend is more than 1 lakh 2. When I need to buy vouchers from giftedge or through grabdeals 3. Plan to make all spends from this card once spends on Vistara Infinite have crossed 7.5 lakhs for the year | Important for me because: 1. Domestic and international lounge access for self and family 2. Reward Rate 3. Regular offers on Grabdeals and Giftedge |
| Axis Vistara Infinite | 10,000 (FY fee should be reversed – promotion) | 1. Rent (thru CRED), plan to shift to Magnus from June 2. Insurance 3. Mostly spend all general spends from this card in months where spend is less than 1 lakh or if Magnus eligible spends cross 1 lakh | Important for me because: 1. Vistara benefits and tickets 2. Rent and insurance were getting rewards |
| AMEX Platinum Reserve | 10,000 (Usually gets reversed or receive 10,000 Taj vouchers) | Almost No spends now – earlier used this as the default card wherever AMEX was accepted, used to always get 500 FK voucher. But post AXIS cards, no spends | Important for me because: 1. AMEX lounge in Delhi relatively less crowded and better service 2. With higher spending pre AXIS, would get Taj Vouchers for annual and periodic spend based milestones and retention benefit |
| AMEX Gold Charge | 4,500 (Always reversed) | 1. Wallet Loads 2. Utility Bills 3. Fuel 4. Complete 6 transactions of 1000 each per month for 1000 bonus points | Important for me because: 1. Rewards on wallets, utility bills and fuel 2. Reward rate with bonus points |
| AMEX MRCC | LTF | 1. Wallet Loads 2. Utility Bills 3. Complete 4 transactions of 1500 each per month for 1000 bonus points 4. Pre AXIS cards, used to split spends between MRCC and Plat Reserve and get 1000 bonus points on 20k spends, but no spends beyond 4 transactions of 1500 now | Important for me because: 1. Rewards on wallets, utility bills 2. Reward rate with bonus points 3. LTF |
| IDFC First Select | LTF | Almost no spends now. Used to pay rent earlier, but now shifted that to AXIS Vistara and plan to shift to Magnus from June | Currently does not hold much value to me. Wondering whether to close or continue because it is LTF |
| Citibank Premiermiles | 3000 | Almost no spends now. Rarely when there is a better than AXIS or AMEX on dining, will avail, but rare, as dining also use mostly AXIS or AMEX | Currently not much value. May close when renewal comes up or if AXIS offers a better card |
| ICICI APay | LTF | 199 monthly subscription of Amazon Audible. Else no spend at all. | Currently not much value. Wondering whether to keep it only because it is LTF. I am not sure whether it is eligible for ICICI offers on sale or should I switch to any other ICICI LTF card |
| Kotak Zen | 1500 | No spends now. Earlier would spend 1.5 lakhs in the year to get renewal fee waiver | Plan to close this card |
| SC Manhattan | NA | Card Inactive but shows up on CIBIL | Validity expired a few years back. SC sent a new card, that got returned because address was not updated. Address change only possible from branch. Very few branches, even in Delhi. Went and submitted docs – staff lost the docs. Didn’t go back again. While CIBIL shows the card, no renewal fees being charged since the time new card was not delivered. Wondering what to do with this. |
Thanking all in advance.
