Which CC to use to purchase car?

[_ayush]

I am about to purchase a car next month and negotiated MDR to 1%. Looking for Credit card recommendations to pay for it. Total amount I need to pay is 12.5L.

The merchant's MCC is 7538.

Even though ITR should not be an issue, I dont want to cross 10L on a single bank card.

- DCB (8.6L limit) - thinking of paying 7L which should get me infinia (last 2 month spends around 1L)
- Atlas (3.3L limit) - have already spent 4.2L. if I pay 3.3L using atlas, it should get me 7.5L milestone and renewal benefit next year.
- Other cards I have are SBI Cashback, Sapphiro, APay, Coral, Amex trifecta (Amex not working on merchant POS).

Open to get any other credit card which has good reward rate offline.
A card which seems good to me is Yes Reserv along with 3x subscription.

Another thing would be to get cashback on CC bill payment. Currently I have 3 HDFC Platinum DC but it wouldn't be enough. Was planning to get indusind signature but their CC is not serviceable on my pincode so not sure how I will get 0 MAB account.


Update/Summary -

Best card for such payment would be M4B but it would not be sustainable for me.
M4B would give 1,61,200 accor points (12.8% returns).

Decided to go with Atlas, DCB, and Marquee (wasnt eligible for Reserv).
Atlas would give 13,200 accor points (on 3.3L spend) + 5,000 accor points (7.5L milestone) + 5,000 accor points (renewal benefit)
DCB would give 23,330 points (7L spend) and milestone benefits (500 ola + 500 bms voucher). Should also make me eligible for infinia.
Marquee would give me points worth 5500 rupees on 2.2L spend (redeemable on flights/zomato vouchers).

 

[HumorSimpson]

@vaibhav111 @drsel @Vasuki

 

[vaibhav111vaibhav111 is verified member.]

I am about to purchase a car next month and negotiated MDR to 1%. Looking for Credit card recommendations to pay for it. Total amount I need to pay is 12.5L.

The merchant's MCC is 7538.

Even though ITR should not be an issue, I dont want to cross 10L on a single bank card.

- DCB (8.6L limit) - thinking of paying 7L which should get me infinia (last 2 month spends around 1L)
- Atlas (3.3L limit) - have already spent 4.2L. if I pay 3.3L using atlas, it should get me 7.5L milestone and renewal benefit next year.
- Other cards I have are SBI Cashback, Sapphiro, APay, Coral, Amex trifecta (Amex not working on merchant POS).

Open to get any other credit card which has good reward rate offline.
A card which seems good to me is Yes Reserv along with 3x subscription.

Another thing would be to get cashback on CC bill payment. Currently I have 3 HDFC Platinum DC but it wouldn't be enough. Was planning to get indusind signature but their CC is not serviceable on my pincode so not sure how I will get 0 MAB account.

You did right thing to find out the mcc, now do make sure you can actually use your cc in the end cause car dealer can increase their mdr to 2.5%. Second thing get idfc wealth account by 10L cheque and withdrawal a month later n keep 25k. Regarding card optimization it seem you have figure it out. Amex isn't supported is a bummer.

 

[HumorSimpson]

You did right thing to find out the mcc, now do make sure you can actually use your cc in the end cause car dealer can increase their mdr to 2.5%. Second thing get idfc wealth account by 10L cheque and withdrawal a month later n keep 25k. Regarding card optimization it seem you have figure it out. Amex isn't supported is a bummer.

Wealth acc ?
Do you mean pay by wealth DC ?

 

[Hemang]

I am about to purchase a car next month and negotiated MDR to 1%. Looking for Credit card recommendations to pay for it. Total amount I need to pay is 12.5L.

The merchant's MCC is 7538.

Even though ITR should not be an issue, I dont want to cross 10L on a single bank card.

- DCB (8.6L limit) - thinking of paying 7L which should get me infinia (last 2 month spends around 1L)
- Atlas (3.3L limit) - have already spent 4.2L. if I pay 3.3L using atlas, it should get me 7.5L milestone and renewal benefit next year.
- Other cards I have are SBI Cashback, Sapphiro, APay, Coral, Amex trifecta (Amex not working on merchant POS).

Open to get any other credit card which has good reward rate offline.
A card which seems good to me is Yes Reserv along with 3x subscription.

Another thing would be to get cashback on CC bill payment. Currently I have 3 HDFC Platinum DC but it wouldn't be enough. Was planning to get indusind signature but their CC is not serviceable on my pincode so not sure how I will get 0 MAB account.

bhai how to know beforehand the MCC of the merchant ?
Among other cards you told, only of use is Amazon ICICI - which would give 1% return.
Try to get indusind account on a serviceable pincode so that you can have 2 debit cards on it, Rs 1,12,500 payment pe 1050 rupees cashback on each debit card.
Plus also humara apna SBI virtual debit card, uspe 0.50% return on bill payments. Try to get SBI Visa virtual debit card.

 

[_ayush]

Wealth acc ?
Do you mean pay by wealth DC ?

Ig wealth DC will be for paying CC bills.

You did right thing to find out the mcc, now do make sure you can actually use your cc in the end cause car dealer can increase their mdr to 2.5%. Second thing get idfc wealth account by 10L cheque and withdrawal a month later n keep 25k. Regarding card optimization it seem you have figure it out. Amex isn't supported is a bummer.

Will check for whole amount as well. Anyways I think the mdr money will go to sales agent instead of the agency. Last time I mentioned that I might pay whole amount with CC, his eyes glittered and he kept insisting I should do that.
So there is no better option than yes reserv right?

 

[_ayush]

bhai how to know beforehand the MCC of the merchant ?
Among other cards you told, only of use is Amazon ICICI - which would give 1% return.
Try to get indusind account on a serviceable pincode so that you can have 2 debit cards on it, Rs 1,12,500 payment pe 1050 rupees cashback on each debit card.
Plus also humara apna SBI virtual debit card, uspe 0.50% return on bill payments. Try to get SBI Visa virtual debit card.

I went there and did a transaction of 10 rupees just to check if DCB is accepted or not. Tried with Amex twice but the transaction didnt go through.

I dont plan on using APay card for this. Instead I was planning to get Yes reserv with 3x subscription. The joining fees and renewal fees will also get waived off through this. I would just have to bear the cost of 3x subscription.

I have SBI DC but virtual DC is offereing 0.25% only not 0.5%.

 

[HumorSimpson]

I went there and did a transaction of 10 rupees just to check if DCB is accepted or not. Tried with Amex twice but the transaction didnt go through.

I dont plan on using APay card for this. Instead I was planning to get Yes reserv with 3x subscription. The joining fees and renewal fees will also get waived off through this. I would just have to bear the cost of 3x subscription.

I have SBI DC but virtual DC is offereing 0.25% only not 0.5%.

As mentioned by @vaibhav111 , make sure that the dealer doesn't change the tune at the time of purchase.
@SSV is the yes yes we for yes cards. Take his advice too.

 

[sourpai]

I went there and did a transaction of 10 rupees just to check if DCB is accepted or not. Tried with Amex twice but the transaction didnt go through.

I dont plan on using APay card for this. Instead I was planning to get Yes reserv with 3x subscription. The joining fees and renewal fees will also get waived off through this. I would just have to bear the cost of 3x subscription.

I have SBI DC but virtual DC is offereing 0.25% only not 0.5%.

How much are you planning to put on Yes reserv? This will be counted as offline transaction and just to breakeven on subscription fees you will have to spend a lot. With calculations you have shown, you are just left with ~2L worth of spends. Is it enough to recover 3x cost and gain atleast 1% extra?

 

[_ayush]

How much are you planning to put on Yes reserv? This will be counted as offline transaction and just to breakeven on subscription fees you will have to spend a lot. With calculations you have shown, you are just left with ~2L worth of spends. Is it enough to recover 3x cost and gain atleast 1% extra?

4130 (3x subscription) should be recovered by spending 1L itself right? Also after this I will need a card to spend since both DCB, Atlas will be close to 10L (which I dont want to cross).

 

[Zacobite]

d

I am about to purchase a car next month and negotiated MDR to 1%. Looking for Credit card recommendations to pay for it. Total amount I need to pay is 12.5L.

The merchant's MCC is 7538.

Even though ITR should not be an issue, I dont want to cross 10L on a single bank card.

- DCB (8.6L limit) - thinking of paying 7L which should get me infinia (last 2 month spends around 1L)
- Atlas (3.3L limit) - have already spent 4.2L. if I pay 3.3L using atlas, it should get me 7.5L milestone and renewal benefit next year.
- Other cards I have are SBI Cashback, Sapphiro, APay, Coral, Amex trifecta (Amex not working on merchant POS).

Open to get any other credit card which has good reward rate offline.
A card which seems good to me is Yes Reserv along with 3x subscription.

Another thing would be to get cashback on CC bill payment. Currently I have 3 HDFC Platinum DC but it wouldn't be enough. Was planning to get indusind signature but their CC is not serviceable on my pincode so not sure how I will get 0 MAB account.

DCB + ATLAS is the right mix.. Yes Reserv at 3x/ 5x is the best in the mkt for offline.. if redeemed for travel.. chk if this mcc is applicable.. i think 3x maybe applicable and not the 5x

 

[BVCBVC is verified member.]

Yes Reserv 5X should give you better than 3X.



Just go through this link for better understanding and check with Customer care if MCC falls under 5X category.

Thread 'YES Marquee vs YES Reserv 3x vs YES Reserv 5x'

Mar 27, 2024

Category	YES MARQUÉE	YES RESERV 3x	YES RESERV 5x
Suitable for	for online spends	for all spends	for Travel, Dining, Apparel, and Healthcare spends
JF (First Year Membership Fee)	11800 (incl. GST)	2360 (incl. GST)	2360 (incl. GST)
Joining benefits / Net Return	10,000 worth of reward points (-1,800)	2360 off on spends of 40k done within 30 days (+0)	2360 off on...

• helloworld
• Replies: 197
• Forum: Yes Bank Credit Card

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[drsel]

I am about to purchase a car next month and negotiated MDR to 1%. Looking for Credit card recommendations to pay for it. Total amount I need to pay is 12.5L.

The merchant's MCC is 7538.

Even though ITR should not be an issue, I dont want to cross 10L on a single bank card.

- DCB (8.6L limit) - thinking of paying 7L which should get me infinia (last 2 month spends around 1L)
- Atlas (3.3L limit) - have already spent 4.2L. if I pay 3.3L using atlas, it should get me 7.5L milestone and renewal benefit next year.
- Other cards I have are SBI Cashback, Sapphiro, APay, Coral, Amex trifecta (Amex not working on merchant POS).

Open to get any other credit card which has good reward rate offline.
A card which seems good to me is Yes Reserv along with 3x subscription.

Another thing would be to get cashback on CC bill payment. Currently I have 3 HDFC Platinum DC but it wouldn't be enough. Was planning to get indusind signature but their CC is not serviceable on my pincode so not sure how I will get 0 MAB account.

Ask Axis Bank CC if
MCC 7538 automotive service shops non dealer
will get points for Magnus Burgundy.

If it gets points, then you need to open a Burgundy savings account and keep 30 lacs fixed deposits or/and mutual funds and ask RM to apply for Magnus Burgundy card.
35400 joining fee, 35400 renewal fee

After getting this card, you can buy the car and you will get nearly 14% return on 12.5 lakh.
No other card comes even close.

 

[BVCBVC is verified member.]

Ask Axis Bank CC if
MCC 7538 automotive service shops non dealer
will get points for Magnus Burgundy.

If it gets points, then you need to open a Burgundy savings account and keep 30 lacs fixed deposits or/and mutual funds and ask RM to apply for Magnus Burgundy card.
35400 joining fee, 35400 renewal fee

After getting this card, you can buy the car and you will get nearly 14% return on 12.5 lakh.
No other card comes even close.

Can we get M4B within a month of doing 30L FD?

 

[vaibhav111vaibhav111 is verified member.]

Wealth acc ?
Do you mean pay by wealth DC ?

Yes bro... that what I meant

 

[drsel]

Can we get M4B within a month of doing 30L FD?

I had to wait for 90 days

 

[_ayush]

Yes but getting m4b is very difficult plus 35k fees is an issue.
For m4b I need to keep 10L for 3 month or 30L for a month.

 

[_ayush]

@SSV is the yes yes we for yes cards. Take his advice too.

@SSV any comments sir?

 

[HumorSimpson]

@_ayush - also its better , you post your calculations in your first post. so others can verify

 

[_ayush]

@_ayush - also its better , you post your calculations in your first post. so others can verify

which calculations are you referring to?