Pls. suggest deletion or additio of cards
My Suggestions
1.
Fuel Card. Based on your fuel spends, you can take a call. BPCL SBI Octane is a good choice. I am using it. Good rewards rate of 6.25% on fuel spends + 1% fuel surcharge waiver. Excellent base reward rate of 2.5% for Groceries, Departmental Stores, Movies & Dining. You can check this thread
here.
The annual fees of Octane are Rs 1,499 + 18% GST = Rs 1,768.82. To recover these fees, you must buy fuel worth Rs 28,301.12 annually. This is the break-even point in terms of total annual fuel expenditure on your card @ Rs 6.25 worth of fuel per Rs 100 of fuel bought. So, i
f your annual fuel spends are more than Rs 28,301.12 per annum, then Octane will be beneficial, merely counting the fuel expenditure. If you have other expenditure - like gas from BPCL, or dining and travel, etc - then you can refine the calculations accordingly. These are the calculations for the 1st year. If you can spend Rs 2 Lakh per annum, then the annual fee is waived off and the card becomes exponentially beneficial.
2.
Amex Plat Travel (APT). Excellent cards for spends up to Rs 4 Lakh per annum. If you can hit this milestone, then the reward rate is approx. 7-8%. In case spends are Rs 8 Lakh, then you can get it from a referral and your wife can get it from your referral and you can then earn a few more reward points on your referral. (Or vice versa). You can check this thread, inter alia,
here. (Note - as of now the Amex cards are not getting issued. You can wait till the same starts and then apply). APT is also a good option to spend on categories like Income Tax which will take you closer to your annual milestone spends and associated benefits/rewards.
Hope this helps.
🙂
