Seeking Credit Card Advice

[mudit.sharma]

Currently, I have three credit cards: SBI Cashback (Paid), AXIS Fk (Lifetime Free), and AXIS MyZone (Lifetime Free). AXIS Fk is my first card, and I use it for offline purchases with the intention of building my credit score. I obtained MyZone for Swiggy, but I am not satisfied with its benefits. Previously, SBI Cashback was my most frequently used card, but its value has diminished. I used it for online shopping and travel expenses. Unfortunately, due to an issue with the merchant category code (MCC) being linked to railways, it often doesn't provide cashback on most websites. As a result, I am unable to reach the spending milestone of 2 lakh rupees once the travel category is excluded. Additionally, SBI Cashback no longer offers airport lounge access.

Considering my circumstances, I am contemplating applying for either Axis Magnus or SBI Vistara Prime, or possibly both. SBI Vistara Prime would be suitable for my travel needs, as I anticipate taking approximately four domestic flights per year. On the other hand, Magnus could serve as an all-purpose card and potentially replace SBI Cashback. Initially, I intended to use the 10,000 rupees Tata Cliq voucher for purchasing gold as an investment. However, given the current inflated gold prices, it may not be the ideal time to acquire Magnus.

It's worth noting that I began working one year ago and am currently working from home. However, I expect that my company will eventually require me to work from the office in Pune. Consequently, I am considering my credit card options to accommodate changes in spending patterns.

Please do share if any other credit card you think can serve the purpose better. I would greatly appreciate any valuable suggestions you may have. Thank you in advance.

 

[RkrRkr is verified member.]

Go with AXIS magnus.Here are the benefit in 1 page.

(image credit-credofly)

 

[It_is_Naruto]

Currently, I have three credit cards: SBI Cashback (Paid), AXIS Fk (Lifetime Free), and AXIS MyZone (Lifetime Free). AXIS Fk is my first card, and I use it for offline purchases with the intention of building my credit score. I obtained MyZone for Swiggy, but I am not satisfied with its benefits. Previously, SBI Cashback was my most frequently used card, but its value has diminished. I used it for online shopping and travel expenses. Unfortunately, due to an issue with the merchant category code (MCC) being linked to railways, it often doesn't provide cashback on most websites. As a result, I am unable to reach the spending milestone of 2 lakh rupees once the travel category is excluded. Additionally, SBI Cashback no longer offers airport lounge access.

Considering my circumstances, I am contemplating applying for either Axis Magnus or SBI Vistara Prime, or possibly both. SBI Vistara Prime would be suitable for my travel needs, as I anticipate taking approximately four domestic flights per year. On the other hand, Magnus could serve as an all-purpose card and potentially replace SBI Cashback. Initially, I intended to use the 10,000 rupees Tata Cliq voucher for purchasing gold as an investment. However, given the current inflated gold prices, it may not be the ideal time to acquire Magnus.

It's worth noting that I began working one year ago and am currently working from home. However, I expect that my company will eventually require me to work from the office in Pune. Consequently, I am considering my credit card options to accommodate changes in spending patterns.

Please do share if any other credit card you think can serve the purpose better. I would greatly appreciate any valuable suggestions you may have. Thank you in advance.

For Magnus...go for it if the monthly spends in a month can cross 1 lac( at least 4 + months in a year).
You may explore - Amex MRCC , BOB eterna too.... with easy fee waivers and good rewards

 

[beingmohit]

Currently, I have three credit cards: SBI Cashback (Paid), AXIS Fk (Lifetime Free), and AXIS MyZone (Lifetime Free). AXIS Fk is my first card, and I use it for offline purchases with the intention of building my credit score. I obtained MyZone for Swiggy, but I am not satisfied with its benefits. Previously, SBI Cashback was my most frequently used card, but its value has diminished. I used it for online shopping and travel expenses. Unfortunately, due to an issue with the merchant category code (MCC) being linked to railways, it often doesn't provide cashback on most websites. As a result, I am unable to reach the spending milestone of 2 lakh rupees once the travel category is excluded. Additionally, SBI Cashback no longer offers airport lounge access.

Considering my circumstances, I am contemplating applying for either Axis Magnus or SBI Vistara Prime, or possibly both. SBI Vistara Prime would be suitable for my travel needs, as I anticipate taking approximately four domestic flights per year. On the other hand, Magnus could serve as an all-purpose card and potentially replace SBI Cashback. Initially, I intended to use the 10,000 rupees Tata Cliq voucher for purchasing gold as an investment. However, given the current inflated gold prices, it may not be the ideal time to acquire Magnus.

It's worth noting that I began working one year ago and am currently working from home. However, I expect that my company will eventually require me to work from the office in Pune. Consequently, I am considering my credit card options to accommodate changes in spending patterns.

Please do share if any other credit card you think can serve the purpose better. I would greatly appreciate any valuable suggestions you may have. Thank you in advance.

Why don't you share your average monthly expenses and the broad categories you usually spend in? Without that, suggesting any card would be difficult.

 

[mudit.sharma]

Why don't you share your average monthly expenses and the broad categories you usually spend in? Without that, suggesting any card would be difficult.

Working from home has allowed me to manage my expenses more efficiently. My monthly spending is mainly focused on groceries, and I rely on Flipkart groceries as my go-to online option since it's the only one available in my area. For day-to-day purchases, I heavily use UPI due to the absence of a RuPay credit card. Besides these expenses, online food orders and shopping represents the only additional cost. In total, my monthly expenses range from 15,000 to 20,000 rupees.
I want to follow credit card journey keeping in mind the changing scenario where I might have to relocate, say add travel, rent expenses.

 

[mudit.sharma]

For Magnus...go for it if the monthly spends in a month can cross 1 lac( at least 4 + months in a year).
You may explore - Amex MRCC , BOB eterna too.... with easy fee waivers and good rewards

How can I plan out on joining/welcome benefit, any suggestions?
Initially, I intended to use the 10,000 rupees Tata Cliq voucher for purchasing gold as an investment. However, given the current inflated gold prices, it may not be the ideal time to acquire Magnus.

 

[It_is_Naruto]

How can I plan out on joining/welcome benefit, any suggestions?
Initially, I intended to use the 10,000 rupees Tata Cliq voucher for purchasing gold as an investment. However, given the current inflated gold prices, it may not be the ideal time to acquire Magnus.

Check this thread with card and good joining bonus...

Credit card with good joining bonus

Let us compile list of credit cards which give more value than the joining fee. Axis Samung Infinite : Fee: ₹5000 Benefit: 30,000 ER HSBC Cashback : (thanks @CREDITDATA ) Fee : LTF Benefit: ₹7500 worth voucher Amazon vouchers (worth INR500) Swiggy voucher (worth INR500) SonyLIV 12 month...

www.technofino.in

Then basis your spends you can finalize the cards...my suggestion Bob eterna, Amex mrcc, one rupay card ( pnb or hdfc tata neu)
Magnus...based on spends... may be a bit later.

 

[beingmohit]

Working from home has allowed me to manage my expenses more efficiently. My monthly spending is mainly focused on groceries, and I rely on Flipkart groceries as my go-to online option since it's the only one available in my area. For day-to-day purchases, I heavily use UPI due to the absence of a RuPay credit card. Besides these expenses, online food orders and shopping represents the only additional cost. In total, my monthly expenses range from 15,000 to 20,000 rupees.
I want to follow credit card journey keeping in mind the changing scenario where I might have to relocate, say add travel, rent expenses.

I would suggest focusing on optimizing your current spends and not focusing on some probable future spends. The only cards that make sense for your spend patterns are Amex MRCC (easy to get 4-7% reward for spends up to 20k a month) and any of the HDFC Neu Rupay cards. If you are unable to get the HDFC Rupay cards, try to get BoB Snapdeal or Premier Rupay cards for your offline spends.
A word of caution: Magnus just doesn't make any sense in your current condition.

 

[mudit.sharma]

Thank you @beingmohit and @It_is_Naruto for you valuable comments. I am concerned how to get airport launges access my current card collection is not that great. And do you suggest collosing any card from existing collection?

I will surely look into Amex MRCC, though on first instance it didn't appeal me, would be really great if you could highlight how exactly you suggest me to utilise it.

Just to put forward a point and I welcome your comment on this, I was looking at magnus as investment i.e 10 k voucher for gold and it would bring be so many benefits specially of airport. I might not achieve milestone benefits but maybe even slow accumulation of points help me .

 

[beingmohit]

Thank you @beingmohit and @It_is_Naruto for you valuable comments. I am concerned how to get airport launges access my current card collection is not that great. And do you suggest collosing any card from existing collection?

I will surely look into Amex MRCC, though on first instance it didn't appeal me, would be really great if you could highlight how exactly you suggest me to utilise it.

Just to put forward a point and I welcome your comment on this, I was looking at magnus as investment i.e 10 k voucher for gold and it would bring be so many benefits specially of airport. I might not achieve milestone benefits but maybe even slow accumulation of points help me .

With 20k spends per month, Magnus does not make much sense to you.
Amex MRCC gives you 1k reward points for 4 transactions of at least 1.5k per month and an additional 1k points on spends of 20k per month. These can be redeemed for some shopping and travel vouchers, or converted to air miles. You can go through the card review on Technofino.in to understand better.
You can take a look into BoB Eterna if you are looking for domestic lounge access. It offers around 3.75% back for spends upto 43k per month. You can even get 4.75% if you optimize its usage well. Again, check Technofino for review.
You should probably close your Cashback card, if you choose to go with Amex MRCC. The other two are LTF, so harmless.
I think the BoB Premier card offers decent lounge access as well. That could be a good card for you given that you can use it for offline spends and get lounge access as well.
Also, I urge you to not consider gold bought on Tata Cliq or any other such platform as an investment. It is not really one!

 

[It_is_Naruto]

Thank you @beingmohit and @It_is_Naruto for you valuable comments. I am concerned how to get airport launges access my current card collection is not that great. And do you suggest collosing any card from existing collection?

I will surely look into Amex MRCC, though on first instance it didn't appeal me, would be really great if you could highlight how exactly you suggest me to utilise it.

Just to put forward a point and I welcome you comment on this, I was looking at magnus as investment i.e 10 k voucher for gold and it would bring be so many benefits specially of airport. I might not achieve milestone benefits but maybe even slow accumulation of points help me .

Axis cards since LTF... no need ti close since you can have 3 cards from Axis( 1 ka scope bacha hai).
Amex Mrcc - 1000 points on 4 transactions per month ( more than rs 1500) and bonus 1000 points on Total 20k spends per month( need enrollment ).
It will give you points on wallet or vouchers purchase too.
search for thread in this forum for more details.
For Magnus...below is the math..
10k fee + 1800 Gst.
Return - 10k tata cliq..
even if you get your spend in one month of year more than 1 lac...25000 reward which are at least 5k in value ( Amazon pay vouchers) or much more if you know miles game.
Airport services...unmatched.

So your call...