[Query] Income Tax Payment - IDFC First Bank Wealth Credit/Debit Card

[sahil1033]

I've both IDFC First Bank Wealth credit and debit card.

On Wealth credit card, I've already crossed the threshold spend of Rs. 20k in current bill cycle. Will I get 10X reward points for income tax payment of around 92k ??

Since there's NIL charges on debit cards, will Wealth debit card give reward points on income tax payment ??

Any other card which will give more benefit? I don't have Standard Chartered cards, HDFC Bank Biz Black and others which I can see as suggestion on the forum. Please help, it's kind of urgent.

 

[shenoyanil98]

I've both IDFC First Bank Wealth credit and debit card.

On Wealth credit card, I've already crossed the threshold spend of Rs. 20k in current bill cycle. Will I get 10X reward points for income tax payment of around 92k ??

Since there's NIL charges on debit cards, will Wealth debit card give reward points on income tax payment ??

Any other card which will give more benefit? I don't have Standard Chartered cards, HDFC Bank Biz Black and others which I can see as suggestion on the forum. Please help, it's kind of urgent.

I'm curious to know where did you spend 20000 with IDFC wealth credit card, because I can't figure out anywhere to use this card as maximum cashback is only 0.5% upto 20000

 

[theflash]

Govt payment isn't an exclusion so you should get points but if you can edit amount then do In parts like 12+15+17 and so on... Keep it below 20k.

And if you have time then try with small amount first wait for points to be credited and then proceeded with big amounts. For wealth DC.

 

[sahil1033]

I'm curious to know where did you spend 20000 with IDFC wealth credit card, because I can't figure out anywhere to use this card as maximum cashback is only 0.5% upto 20000

I've an add-on credit card given to my sister, so, she used it at hospital for clearing bills post cashless insurance settlement ... that's how I crossed the Rs. 20k mark.

 

[sahil1033]

Govt payment isn't an exclusion so you should get points but if you can edit amount then do In parts like 12+15+17 and so on... Keep it below 20k.

And if you have time then try with small amount first wait for points to be credited and then proceeded with big amounts. For wealth DC.

I paid in full with Wealth DC, let's see ... since it was urgent, couldn't have waited.

 

[theflash]

I paid in full with Wealth DC, let's see ... since it was urgent, couldn't have waited.

👍🏻 Btw if you're curious you can call them tomorrow as well to know if it's eligible for points or not they'll prolly reply by Thursday or Friday.

 

[Indrajeet100]

I did on Select DC and got normal 3X. Government payments are excluded for 10x rewards.

 

[sourpai]

I did on Select DC and got normal 3X. Government payments are excluded for 10x rewards.

It is because your transactions on DC are within 50K... beyond that you get 10X

 

[sourpai]

So to clear confusion ...

 

[sahil1033]

👍🏻 Btw if you're curious you can call them tomorrow as well to know if it's eligible for points or not they'll prolly reply by Thursday or Friday.

I'm not curious anymore since what's done, is done already, others are curious though 😛

 

[Dragon_slayer]

So to clear confusion ...

View attachment 61170

So you paid using Wealth debit card?

For 1-50K you got 3x and 50K and above you received 10X ? Is that correct?

Also, can you share MCC on this transaction

 

[sahil1033]

So you paid using Wealth debit card?

For 1-50K you got 3x and 50K and above you received 10X ? Is that correct?

Also, can you share MCC on this transaction

Yes, I paid using Wealth DC.

I'm yet to receive RPs, will share once it starts showing up.

For DC, MCC doesn't show up, it's only with CC.

 

[theflash]

Yes, I paid using Wealth DC.

I'm yet to receive RPs, will share once it starts showing up.

For DC, MCC doesn't show up, it's only with CC.

Approx 1.55% reward rate for 92k payment...
Use the same DC if you have any other spends this month... To enjoy 10X

 

[sahil1033]

Approx 1.55% reward rate for 92k payment...
Use the same DC if you have any other spends this month... To enjoy 10X

Yes, will redirect all payments to Wealth DC till the end of the month for 2.5% reward rate 😇

Even fuelled up for Rs. 300 today with this DC for Visa Tap to Pay offer 😎

 

[Dragon_slayer]

Approx 1.55% reward rate for 92k payment...
Use the same DC if you have any other spends this month... To enjoy 10X

I was wondering if it would be more logical to pay using Wealth CC instead. We would get some points ( net positive ), then pay that CC bill using Wealth DC from SBI Unipay. Reward rate for DC will stay same in this case

 

[theflash]

I was wondering if it would be more logical to pay using Wealth CC instead. We would get some points ( net positive ), then pay that CC bill using Wealth DC from SBI Unipay. Reward rate for DC will stay same in this case

CC has MCC exclusions for earning points AFAIK. So this is a practical idea...

 

[sahil1033]

I was wondering if it would be more logical to pay using Wealth CC instead. We would get some points ( net positive ), then pay that CC bill using Wealth DC from SBI Unipay. Reward rate for DC will stay same in this case

approx. 0.85% convenience charge for paying via Wealth CC plus I wouldn't have got 10X RPs on it

no convenience charge on Wealth DC, thus a much better bet

 

[brightknight]

how much max RPs i can earn on Wealth CC for paying Tax? that is max tax payment?

 

[sahil1033]

UPDATE (17-Jul-2024) :

Got 10x RPs for tax payment but I'm not able to understand the maths they've done ... will look into it closely later on.

There's one thing though, I fuelled up for Rs. 300 on the same day after paying Rs. 92,910 but it's showing 6 points only ... I should've got 30 points (2.5% worth RPs), right?

 

[theflash]

Maybe that 300 got settled before 92k so you got 3X for that