Suggest ways to make grocery payment of around 50 lakh per month

[Vasuki]

my 3 cards already close by axis bank an ICICI for the high value transaction

How much high value transaction .
Compared to limit assigned

 

[sidp]

also there is chance of Income Tax notice to

Not high chance. A definite outcome.
This would amount to serious tax evasion. So Itd can reopen till 11years after the fy end.

 

[Divas_Garg]

I am eagerly looking to get Indusind bank tiger credit card has its reward rate when spends cross 5 lakh rs is very good. Plus its conversion to airmiles is also superb.

As some one earlier mentioned don't do business transaction on personal credit card
because with in a year almost all these card will block by bank as you are fetching to much reward points and cash back from the bank
and once they close the cards you can not justify the transactions as you used that card for business transaction
you may loss many reward points and cashback as well also it might happen they will not allowed you to apply credit card in future

my 3 cards already close by axis bank an ICICI for the high value transaction

also there is chance of Income Tax notice to

you have all the purchase bills and everything on books then also they will harass you

so better to switch the business card low reward rates but peaceful

That’s why I want to switch to business card with better return.

Regarding income tax notice, all my transactions are properly accounted for and all reward points earned are subjected to tax as per income tax. So even if I receive notice then it won’t have any affect

 

[Divas_Garg]

How much high value transaction .
Compared to limit assigned

I never faced such problem in Indusind Bank. I have made a single transaction of 9 lakh rs against credit limit of 9 lakh.

 

[Vasuki]

I never faced such problem in Indusind Bank. I have made a single transaction of 9 lakh rs against credit limit of 9 lakh.

It all depends on your profile with bank

 

[prc1990]

I am eagerly looking to get Indusind bank tiger credit card has its reward rate when spends cross 5 lakh rs is very good. Plus its conversion to airmiles is also superb. But bank has denied me this card as I already have many cards.

Bro I want to know your AIS and ITD status. Would you mind sharing? 🦁

 

[Tejo]

Very true must open kotak white reserve via
Kotak Mahindra Bank privy league black program

You no need to have privy league for reserve

 

[Vasuki]

You no need to have privy league for reserve

Black privy league has ltf reserve ..
That why I suggested .

 

[Walter White]

I make purchases online of around 50 lakh every month for my business purpose. All these purchases are made through online payment and all transactions come under GROCERY category.

Currently I am using following cards for these payments:
1. Indusind bank pinnacle credit card
2. AU Zenith
3. SBI Cashback only upto 1 lakh

Earlier I used HDFC credit cards but now they have capped reward points for grocery at 2000 points per month. I don't want to use axis cards as they might block my account. Please suggest me credit cards or other ways to make these payments to earn maximum points without any capping. @TechnoFino

Thanks in advance.

Banks seeing @Divas_Garg buying groceries for 50LPM.

 

[Vasuki]

Banks seeing @Divas_Garg buying groceries for 50LPM.

View attachment 49591

Every watermelon has Coke stuffed ..imported from Russia

 

[Divas_Garg]

Black privy league has ltf reserve ..
That why I suggested .

Thansk bro…. I will visit kotak bank for this

 

[Tejo]

Thansk bro…. I will visit kotak bank for this

😅 now banks might blacklist or cap grocery mcc for rp, similar to utility mcc

 

[Odugu Narasimha Rao]

I am having 5 indusind bank credit cards in my name and all cards are issued against fixed deposit of 10 lakh each. Each card has limit of 9 lakh rs

Which indusind bank credit cards are u holding?

 

[doraemon]

I make purchases online of around 50 lakh every month for my business purpose. All these purchases are made through online payment and all transactions come under GROCERY category.

Currently I am using following cards for these payments:
1. Indusind bank pinnacle credit card
2. AU Zenith
3. SBI Cashback only upto 1 lakh

Earlier I used HDFC credit cards but now they have capped reward points for grocery at 2000 points per month. I don't want to use axis cards as they might block my account. Please suggest me credit cards or other ways to make these payments to earn maximum points without any capping. @TechnoFino

Thanks in advance.

What about nirmala tai?

 

[HumorSimpson]

What about nirmala tai?

She will make Andhra avakai (pickle) out of him.

 

[Deleted member 11974]

😅 now banks might blacklist or cap grocery mcc for rp, similar to utility mcc

they wont
utility had less mdr due to lesser margins
grocery doesn't have the same problem

 

[HumorSimpson]

they wont
utility had less mdr due to lesser margins
grocery doesn't have the same problem

@DocFixIt
Hopes once more
On Kotak 1 crore

 

[doraemon]

50L pm i.e 6crores a year


God bless u brother
I am scared that u will need a good CA soon

 

[Tejo]

@DocFixIt
Hopes once more
On Kotak 1 crore

In upcoming days:

•Kotak mostly doesn't allow that much high business spends on their personal credit cards.

Devaluation of white pass .... mcc restrictions....

 

[Divas_Garg]

Which indusind bank credit cards are u holding?

All pinnacle credit cards