Urgent: Guidance Needed for Credit Card Optimization.

[MudraMantra]

Hi All,

Need your valuable inputs as I want to review my credit card portfolios and want to remove some cards where I am not able to utilize or gain a benefits.
Here is the below list of my credit cards

1. AU Xcite Ultra - LTF - 5L Limit - If I spend 5000 in first 5 days of month I am getting 500 bonus points.
2. Axis Flipkart Credit Card - Paid - 6L Combined limit of 3 cards - Mainly used for Flipkart shopping only.
3. Axis myZone - LTF - I don't think I am using it since last 5 months.
4. Axis Rewards - It was Citi Rewards Credit card since 2017 got converted to Axis Rewards - if spent is greater than 30000 in year then it is free else 1000.
5. Bank of Baroda - easy RuPay - LTF - Applied for BHIM UPI.
6. Bank of Baroda - HPCL RuPay - LTF - Using at HPCL outlet for petrol and HP Pay for Gas booking and UPI. - Combined limit of 2.2L
7. Federal Celesta - LTF - 5L - Used once in a month for Book my show BOGO
8. HDFC Regalia First - LTF - 3L combined across 3 cards - since 2015.
9. HDFC UPI RuPay - LTF - occasionally used in BHIM UPI. Used in BBD for mobile purchase of my friend.
10. HDFC Tata Neu Infinity - paid RuPay - used for Tata NEU app.
11. HSBC Platinum - LTF - since 2019 - Used once in 2 month for small transaction.
12. ICICI Amazon - LTF - My ready to go card using it at Amazon and in offline stores like Dmart, Reliance bazar etc.
13. ICICI Platinum - LTF - since 2014.
14. ICICI Coral RuPay - LTF - occasional UPI usage.
15. ICICI Rubyx All 3 variants - LTF since 2024
16. IDFC First Select - LTF - 3L - Used it most last year to get lounge access @ 5000 cap but after rule change very limited usage.
17. IndusInd Legend - LTF - 5L - mainly using it to get Free SELECT account.
18. Kotak RuPay League - LTF - Applied to get benefits of Kotak credit card during sales.
19. SBI Simply save - Paid - since 2015 - Only usage during sales.
20. SBI BPCL RuPay - FYF -
21. Standard chartered DigiSmat - LTF - since 2018 - Using it on Myntra for 20% discount once in a month.

My main usage pattern is
1. Annual payment of Life ins policies - around 1.5L but its not a single policy and not all payment at a time.
2. 2 or 3 times domestic Air travel in a year - It may increase to 4 or 5 times. My family members are not having cards so I use my cards for their lounge access.
3. 15-20 IRCTC tickets booking in a year which includes self or booking for any relatives or friend who are not familiar with IRCTC.
4. Monthly Grocery around 15K which I usually do from Dmart store or Reliance store, occasional shopping from BigBasket using Tata NEU.
5. Monthly UPI spends approx. 3-5K at shops, where some shops accept RuPay cards while some not.
6. Around 1-2L spend during BBD and GIF, which major includes shopping by friends and relatives using my cards for discount.


So, this is my small story, I want to reduce my credit cards count and also want guidance how I can maximize points.

Please help me. Thanks in advance.

 

[helloworld]

Close: 2, 3, 5, 9, 10, 13, 14, 15 (keep upto 2 variants), 16, 19 = Total 9 accounts

Can keep but absolutly 0 useful: 1, 11 (^should be upgraded), 15, 17, 18, 21 = 6 accounts

Helpful in the list: 4 (Swiggy 20% and Departmental Stores 3%), 6 (UPI and Fuel), 7 (BMS), 8 (^should be upgraded), 12 (Amzn and BillPayments), 20 (Fuel) = 6 accounts

::: Only 6 cards useful out of 21 (9 not needed at all).

1. AmznPay (2%)
2. Regalia First (5x) --> Should be upgrade to Regalia Gold, more beneficial for you
3. Regalia First (3x) --> "
4. HSBC Platinum -> Should be upgrade to HSBC Cashback for 10% on DMart, Reliance, BigBasket etc.
5. Any of those fuel Rupay cards with you
6. HDFC, SBI, AXIS, ICICI already covered, so can be used anything depends on bank in that offer.

For better segregation: https://www.technofino.in/community/threads/guide-to-suggest-a-credit-card-basic-requirements.32560/

Used in BBD for mobile purchase of my friend.

My family members are not having cards

self or booking for any relatives or friend

major includes shopping by friends and relatives

-----------------------

Post in thread 'Managing all Credit cards we have'

Aug 23, 2022

This is based on personal experience, it may help you.

You'll soon endup with high debt if this process continues.

Based on your question I'm getting that it happens every month or frequently, it's time your friends or relatives should own their credit cards (atleast FD based).

Once or twice its fine but not every month, that too without you knowing how much each person spending on your own card.

At the end of the day, it's you who suffers most when things went sideways.

-------

Easy way to track is to collect the money as soon as purchase completed or atleast end of that day. If...

• helloworld

• 

 

[MudraMantra]

Close: 2, 3, 5, 9, 10, 13, 14, 15 (keep upto 2 variants), 16, 19 = Total 9 accounts

Can keep but absolutly 0 useful: 1, 11 (^should be upgraded), 15, 17, 18, 21 = 6 accounts

Helpful in the list: 4 (Swiggy 20% and Departmental Stores 3%), 6 (UPI and Fuel), 7 (BMS), 8 (^should be upgraded), 12 (Amzn and BillPayments), 20 (Fuel) = 6 accounts

::: Only 6 cards useful out of 21 (9 not needed at all).

1. AmznPay (2%)
2. Regalia First (5x) --> Should be upgrade to Regalia Gold, more beneficial for you
3. Regalia First (3x) --> "
4. HSBC Platinum -> Should be upgrade to HSBC Cashback for 10% on DMart, Reliance, BigBasket etc.
5. Any of those fuel Rupay cards with you
6. HDFC, SBI, AXIS, ICICI already covered, so can be used anything depends on bank in that offer.

For better segregation: https://www.technofino.in/community/threads/guide-to-suggest-a-credit-card-basic-requirements.32560/






-----------------------

Post in thread 'Managing all Credit cards we have'

Aug 23, 2022

This is based on personal experience, it may help you.

You'll soon endup with high debt if this process continues.

Based on your question I'm getting that it happens every month or frequently, it's time your friends or relatives should own their credit cards (atleast FD based).

Once or twice its fine but not every month, that too without you knowing how much each person spending on your own card.

At the end of the day, it's you who suffers most when things went sideways.

-------

Easy way to track is to collect the money as soon as purchase completed or atleast end of that day. If...

• helloworld

• 

Thank you so Much for answering my questions, I will follow this and will trim my current CC holdings.
One thing my Regalia First is LTF but HDFC is not providing Millenia or Regalia as LTF only FYF.

 

[helloworld]

Thank you so Much for answering my questions, I will follow this and will trim my current CC holdings.
One thing my Regalia First is LTF but HDFC is not providing Millenia or Regalia as LTF only FYF.

take it FYF, during renewal if your spends are good try for LTF, if not possible switch to other HDFC card like Millennia FYF, during renewal if you feel that card still has value and if your spends are good try for LTF, if not possible switch to Regalia FYF, during renewal if you fee that card still has value and if your spends are good try for LTF, if not possible and ok to redeem miles and sufficient relationship upgrade to DCB/Infinia as FYF, during renewal if you feel that card worth and your spends are good try for LTF, if not possible switch to...

TL;DR; Point is utilize available options rather than wasting time on non-useful cards.

Offer Fulfilled! Post in thread 'Limit Enhancement and Upgrade Offers Rolling Out!'

Saturday at 2:49 PM

I have a salary account with HDFC and no credit card so far. Just saw emails offering Freedom card as LTF but I prefer Millenia (at least). Should I apply for this freedom and try for upgrades or wait for Millenia LTF? Any suggestions please! Also my net pay is 1.5+L per month so can it be upgraded to Preferred banking program and then expect Millenia CC LTF?

Basic Cards as Lifetime Free (LTF) May Not Be the Best Choice​

Opting for basic cards as LTF might seem appealing at first, but they often become unusable because of your increased spends and changes in preferred...

• helloworld