Thanks. My status as of now -
ICICI - Holding Amazon and Sapphiro (both LTF, limit 10L). These are the only 2 cards that I have now.
- IDFC - Tried 4 times (self and agent), Always, it shows only the WOW card. I gave up.
- Indusind - Straightaway rejected (Dont know why, tried through an agent as well as self), not looking further
- AU - Blocked with LIT card when I tried online. It will take 45 days to delete the pending application.
- HSBC & Amex - Not looking at currently.
- Axis - No LTF offers for me except NEO (which I don't want).
Future plans:
- HDFC - Take Tata Neu Infinity via C2C basis.
- SBI - Take Cashback paid and try to make it LTF after 6 months. (hope that works)
- ICICI - Ask for Emeralde LTF after some time; push through RM (hope that works)
My overall spends are only 2-3L per year.
Travel is very less, hotel stay is almost NIL.
So, luxury cards are not much needed/useful.
To be honest, for spends 2-3L // max 3 cards are sufficient. Infact, if you take for example HDFC Millennia, you'll get fee waiver and get apprx. 3-7% return and higher chances to upgrade premium cards in that bank due to consistent spend, on-time payment, effective credit utilization.
Or If you take Axis Ace/Airtel depends on where you want to spend, able to get >3% along with fee waiver and improve chances to premium cards when in future needed for them.
Not against the LTF cards, but when the usage is less its unnecessary headache and makes you spend more or confuse more to miss the payment.
Forgot about the LTF cards (which you can proceed if only thats you want, no objections)
for a moment, just think where you spending this 2-3L per year and what are the best cards available for those categories..?
Take them if you can achieve fee waiver, I think most of them waived if spend 50k or 1L or 2L or upon requesting for reversal but more beneficial and help you build relationship with that bank for better future opportunities.
Just a note:
Since you're so much about LTF cards.. not sure your eligibility but some examples (so based on eligibilty it may vary)
- Axis Privilege = Pay 1800 and get 5000rs. worth of Myntra vouchers (better than LTF, IMO).
- HDFC = 1500 amzn voucher (so take any card within that fee) and also usually joining fee compensated.
- Axis Airtel / FK / Ace = Joining fee compensated.
- SBI = joining fee compensated
All gives you 1 year of time, when time arrives either deal with retention or devalution happened go with cancellation or if lucky, LTF.
I get that if LTF at the beginning its a relief but aiming for basic cards as LTF is not good IMO.
Either take Premium/Super Premium cards as LTF which usually needs NRV or ready to switch and/or improve relationship with basic cards (because now or later, you need one good card that can be obtained through relationship of these banks) with spends.
