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).

 

[_ayush]

Received marquee today with 3L limit.
The document mentions 60k RPs and not 40k RPs. Which one will I get.

 

[maynigam]

I dont want to cross 10L on a single bank card.

Hey. I'm also buying a car next week. This 10L limit for ITR reporting is per calendar year/per financial year/per card year?

 

[_ayush]

Hey. I'm also buying a car next week. This 10L limit for ITR reporting is per calendar year/per financial year/per card year?

If you make payment of 10L or above to any bank for credit card, it will come up in your AIS. Eg if you have both magnus and atlas and you make payment of 12L combined, it will show up in your AIS. This is just for precautionary measures. Dont think it would be an issue because I do have itr that would justify it. And anyways we'll pay TCS on the car.

Not sure how this is changed after bbps. Someone said they'll track all bbps payments.

 

[navdeep22]

Received marquee today with 3L limit.
The document mentions 60k RPs and not 40k RPs. Which one will I get.

Bro when did u apply, I applied almost a month ago, and did u apply after opening grandeur account?

 

[_ayush]

Bro when did u apply, I applied almost a month ago, and did u apply after opening grandeur account?

Nope. Directly applied via website. Actually wanted reserv but could only see marquee while applying. Ended up taking it as recommended by others.

Applied it on 27th Aug. No docs were asked and vkyc was done. Got approval on 29th Aug and received it on 1st Sept.

 

[navdeep22]

Nope. Directly applied via website. Actually wanted reserv but could only see marquee while applying. Ended up taking it as recommended by others.

Applied it on 27th Aug. No docs were asked and vkyc was done. Got approval on 29th Aug and received it on 1st Sept.

I applied it on 5th August via branch

 

[maynigam]

If you make payment of 10L or above to any bank for credit card, it will come up in your AIS. Eg if you have both magnus and atlas and you make payment of 12L combined, it will show up in your AIS. This is just for precautionary measures. Dont think it would be an issue because I do have itr that would justify it. And anyways we'll pay TCS on the car.

Not sure how this is changed after bbps. Someone said they'll track all bbps payments.

Is it for financial year or calendar year?

 

[_ayush]

Is it for financial year or calendar year?

Financial year ...