Realizations after becoming credit card enthusiast

[Kushagra_]

Same here...indie megastar is really good...best part is it can be used across any fuel outlet ( iocl, bp,hp) ... few days back when hp was running offer of 3% inform of hpcoins ..I used hp pay+ indie..could get 6 percent...

You can switch your chosen 3 brands on the fly?

 

[cardgenie]

You can switch your chosen 3 brands on the fly?

No its once in a month...and cash backs are immediate in form of gems...1 Gem = 1 Re

 

[panchabhut]

Oh I see so indian oil is one of the brand's you've selected for 3%
And the 7% savings account interest is sweep in or normal savings interest

for fuel UPI no need to select any brand. 3% on fuel is in addition to online brands. Any fuel UPI QR of any company.

 

[Kushagra_]

for fuel UPI no need to select any brand. 3% on fuel is in addition to online brands. Any fuel UPI QR of any company.

Oh wow didn't know, And the 7% ?

 

[panchabhut]

Oh wow didn't know, And the 7% ?

That is window dressing

 

[Kushagra_]

That is window dressing
View attachment 95809

Ah I see

 

[fradela]

Sharing some of my learnings from my credit card journey

I was one among those old schoolers who always belived debt is bad in any form in my Initial career days and followed disciplined lifestyle in form of investing.

However after reaching mid 30s I started my credit card journey out of boredom and now I own decent collection of cards which almost takes care of my day to Day spendings like groceries, utilities, insurance, e-commerce, food delivery, movies, fuel .

Here are few things I realized through out this journey of credit cards which is keeping us away from earning rewards / cashbacks

1. Large Unorganized sector/ cash only merchants : India has large unorganized sector. There is still presence of large number of merchants who accept payments either through cash / rupay CC disabled UPI

Recently I have been to Sikkim for vacation and incurred expenses of around 1.5 lakhs apart from flight tickets and 1 or 2 hotels Everything was cash / upi from savings account .
Most of the vendors were using savings account to accept the payments

2. Schools/ colleges still accepting cash :

Spending on children education is major expense for most of us .yet we are not able to benefit by paying through CC as most of the schools still taking cash/ bank transfer

3. Fuel station POS machines not reliable: In majority of fuel stations the pos machine used is of other business as fuel station owners own multiple businesses making fuel cards useless during some refills
Recently, I came across an article where one of our group member was charged fuel surcharge for buying some products on fuel station store !!

4. Online / offline price Parity : I have compared grocery prices in online and offline . observed that online store prices are often 10 to 20% more than the offline store prices ( compared dmart ready prices with dmart store)

Hence this almost nullifies the rewards that we are making by using CC on online platforms or sometimes we end up paying more as well.

While CC are still rewarding but if above things are streamlined they would be even more rewarding and we would be able to reap more benefits of every penny we are spending

Completely disagree with all your points.

1. Payments: Many businesses now accept credit cards and UPI via RuPay Credit Cards. Very few insist on cash or UPI from a savings account.
I regularly use my credit cards for amounts above 100 and UPI via RuPay credit card for small transactions.

2. Education payments: Many schools and colleges today accept credit cards and UPI payments through RuPay credit cards, making it easy to earn rewards even on education expenses.

3. Fuel transactions: Several fuel specific credit cards offer minimum 5% cashback along with 1% fuel surcharge waiver.

4. Grocery shopping: Many credit cards give 5 to 10% cashback on groceries, both online and offline.

5. You can also use RuPay credit cards for NPS investments and get rewards on your investement.

6. Minimum of 5% rewards on Amazon, Flipkart, and discounted vouchers for Lifestyle, Decathlon, etc.

Credit cards, when used smartly, are a huge advantage.

 

[cardgenie]

Completely disagree with all your points.

1. Payments: Many businesses now accept credit cards and UPI via RuPay Credit Cards. Very few insist on cash or UPI from a savings account.
I regularly use my credit cards for amounts above 100 and UPI via RuPay credit card for small transactions.

2. Education payments: Many schools and colleges today accept credit cards and UPI payments through RuPay credit cards, making it easy to earn rewards even on education expenses.

3. Fuel transactions: Several fuel specific credit cards offer minimum 5% cashback along with 1% fuel surcharge waiver.

4. Grocery shopping: Many credit cards give 5 to 10% cashback on groceries, both online and offline.

5. You can also use RuPay credit cards for NPS investments and get rewards on your investement.

6. Minimum of 5% rewards on Amazon, Flipkart, and discounted vouchers for Lifestyle, Decathlon, etc.

Credit cards, when used smartly, are a huge advantage.

Problem is not cards problem is with some of the merchants. While, I fully agree it differs for each individual . Atleast in my case I face these kind of Issues even though I live in tier-1 city

1. Most vendors have disabled payment through rupay CC due to merchant fee

Reg fuel cards, I also agree fuel cards are rewarding but again the problem is with the vendor POS machines. If the pos machine is not tagged to fuel outlet then we end up getting no rewards at all.. I faced this on multiple occasions...

If these things are streamlined CC become even more rewarding is what im trying to convey !!