Suggest a Better portfolio

[sainath769]

I am looking to build a well-balanced credit card portfolio. Currently, I hold the following credit cards:

Amazon Pay (₹8L limit)
Tata NeuPay + HDFC Millenium (₹2.5L limit)
RBL ShopRite Card (₹5L limit)
I recently applied for the SBI Cashback card, but it was declined as they are not issuing this card at the moment. My monthly salary ranges between ₹1.5 - ₹1.7 lakhs, and I spend around ₹40,000 - ₹50,000 per month on utilities, fuel, UPI transactions, and rent, which is paid through my bank account.

I also hold an IDFC Wealth account. Could you suggest an ideal credit card portfolio that aligns with my spending pattern and financial goals?

 

[helloworld]

Thread 'Guide to Choosing the Right Credit Card - Basic Requirements'

Sep 28, 2024

How to Choose the Right Credit Card for You

Simply looking at your CIBIL score or listing your existing cards won't help determine the most suitable credit card for you. To make an informed choice, you need to consider various factors.

Key Steps to Select a Credit Card:​

1. Identify Your Spending Categories
   Look at your monthly or annual expenses and categorize them. This will help determine which card gives the best rewards for your spending pattern.
   
   Example:
   • Amazon: ₹5,000
   • BigBasket: ₹5,000...

• helloworld
• Replies: 14
• Forum: Suggest me a Credit Card

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: )

 

[sainath769]

Hi, my CIBIL score is around 780. My monthly spending breakdown is as follows:

• Utilities: 5-10K
• Offline spending: 40-50K
• Fuel: 5K
• Rent: 35K

Additionally, I have yearly insurance payments of 2.5 lakhs.

Could you please suggest the best credit cards based on my spending pattern? I am primarily interested in cashback rewards.

 

[tachniki]

Your max expense is offline spending. Please further analyse your expense there and see if any cobranding card may help there.

You already own tata neu. Is that infinity or plus?

With what I know currently, you can look for HSBC live plus. It will give you 10% on dining transactions and 1.5% for other offline transactions.

Insurance payment is tricky one. Is that one time payment or monthly / quarterly?

 

[Raghav2006Raghav2006 is verified member.]

Hi, my CIBIL score is around 780. My monthly spending breakdown is as follows:

• Utilities: 5-10K
• Offline spending: 40-50K
• Fuel: 5K
• Rent: 35K

Additionally, I have yearly insurance payments of 2.5 lakhs.

Could you please suggest the best credit cards based on my spending pattern? I am primarily interested in cashback rewards.

Axis ace and Amazon pay card is enought for you I guess.

 

[sainath769]

Your max expense is offline spending. Please further analyse your expense there and see if any cobranding card may help there.

You already own tata neu. Is that infinity or plus?

With what I know currently, you can look for HSBC live plus. It will give you 10% on dining transactions and 1.5% for other offline transactions.

Insurance payment is tricky one. Is that one time payment or monthly / quarterly?

It is infinity plus , typically i use Tata neu card for most POS transaction as reward rate is around 1.5% , do you suggest any card for rental payment ? i can have a look at HSBC live plus

 

[sainath769]

Your max expense is offline spending. Please further analyse your expense there and see if any cobranding card may help there.

You already own tata neu. Is that infinity or plus?

With what I know currently, you can look for HSBC live plus. It will give you 10% on dining transactions and 1.5% for other offline transactions.

Insurance payment is tricky one. Is that one time payment or monthly / quarterly?

All insurance payments are Yearly ,

 

[helloworld]

Could you please suggest the best credit cards based on my spending pattern? I am primarily interested in cashback rewards.

As @tachniki said, it’s important to further break down your offline spending because it’s quite high. This must be divided into specific categories like groceries, dining, fuel, and shopping. Identifying these categories will help you choose the right cards for each type of spend.

Monthly Spending Overview:​

• Utilities: ₹5K - ₹10K
• Offline spending: ₹40K - ₹50K (to be divided into specific categories like groceries, dining, shopping, etc.)
• Fuel: ₹5K
• Rent: ₹35K
• Yearly insurance payments: ₹2.5L

Credit Card Options:

1. HDFC Millennia Card (Already Owned)​

• Best For: Online shopping, Utility payments through amzn (If Insurance provider available then top-up every month amzn vouchers).
• Rewards: 5% cashback on Amazon and other partner websites; 1% cashback on other spends.
• Annual Fee Waiver: Depends on your offer (LTF or Paid)

2. ICICI AmazonPay Card (Already Owned)​

• Best For: Amazon purchases (alternative to Millennia after 20k month limit exhausted).
• Rewards: 5% cashback on Amazon (for Prime members); 1% cashback on all other transactions.
• Annual Fee: No annual fee.

3. HDFC TataNue Infinity Card (Already Owned)

• Best For: UPI spends, Utility Payments through tatanue and if insurance provider available then can pay here too.
• Rewards: 1.5% (0.5% statement + 1% tatanue app) for UPI, 5% for Utility payments
• Annual Fee: Depends on your offer (LTF or Paid)

Other recommendations:

Breaking down your offline spending will help you better understand which cards maximize cashback in specific categories like groceries, dining, and fuel etc.

Based on your monthly spends,

- For offline grocery, dining: HSBC Live+ (10%) cashback
- For general offline spends: YES Marquee / YES Reserv 3x or 5x (2.25% to 4.5%) Flights/Hotels
- For Fuel: BPCL (4%) if one nearby to your place.

Rent and credit card no longer a thing, can use milestone cards but nowadays cards are excluding that as well like AXIS and YES.

You're also eligible for SC Ultimate and for monthly 1L spends + 2.5L annual insurance this card alone provides 2.34% (can utilize wallets for UPI and other exclusion categories). This straightaway provide 10k Marriot or Taj voucher, apply only if you need these two brands otherwise skip.

Since most of your spends are offline, SBI Cashback not much beneficial unless you have online spends too in that range.

 

[sainath769]

Thanks for the suggestions

 

[sainath769]

What is best Rupay credit card other than Tata Neu Infinity which can be used for UPI transaction and get cashback ?

 

[Raghav2006Raghav2006 is verified member.]

What is best Rupay credit card other than Tata Neu Infinity which can be used for UPI transaction and get cashback ?

kiwi card, better than tata neu