Which credit card to use for tax payment

[CrudMax]

Hi,

I have to pay some advance tax of around 20k, and need to know whoch cc I should use to get best reward rate. I have access to following credit cards:

Amazon pay icici
Flipkart axis
Airtel axis
Hdfc tataneu infinity
Idfc wealth
Onecard
Sbi cashback
Sbi simpliclick
Icici sapphiro


Also recommend me any debit card in case that will provide a better value.

 

[manas_rock]

I need to pay tax of 1 crore every year- advance tax. I earlier used axis magnus- and then Vistara infinite.
What to use now? I need business class vistara tickets preferably.

 

[VijayflyRaven]

Hi,

I have to pay some advance tax of around 20k, and need to know whoch cc I should use to get best reward rate. I have access to following credit cards:

Amazon pay icici
Flipkart axis
Airtel axis
Hdfc tataneu infinity
Idfc wealth
Onecard
Sbi cashback
Sbi simpliclick
Icici sapphiro


Also recommend me any debit card in case that will provide a better value.

Amazon pay icici, Flipkart Axis won’t work. IDFC works.

 

[VijayflyRaven]

I need to pay tax of 1 crore every year- advance tax. I earlier used axis magnus- and then Vistara infinite.
What to use now? I need business class vistara tickets preferably.

SC and IDFC will work. Don’t use 100% of limit. Try to get around 1.5 crore credit limit among these two.

 

[CrudMax]

I will probably do advance tax of around 20k via idfc. How much will be the reward rate overall? Is it even worth it if rate is too low?

 

[knowbie]

2.2% on IDFC Wealth. Little lower on Ultimate

BUT if you do only 20K you will not hit milestone and only get 6X. If you can do 30K then you get 2.2% with Wealth, else use any other card that gives atleast 1.5% as base reward to get net return to 0%

 

[manas_rock]

SC and IDFC will work. Don’t use 100% of limit. Try to get around 1.5 crore credit limit among these two.

IDFC refused me wealth card.
I read other posts- and Axis Atlas looks good to me- I have applied for atlas axis today.

Makes sense?

Or SC Ultimate is better?
I will close vistara infinite - it is a useless card now for me. have closed magnus too.
hold only 1 card as of now- Infinia.

 

[sourpai]

IDFC refused me wealth card.
I read other posts- and Axis Atlas looks good to me- I have applied for atlas axis today.

Makes sense?

Or SC Ultimate is better?
I will close vistara infinite - it is a useless card now for me. have closed magnus too.
hold only 1 card as of now- Infinia.

SC Ultimate will work only if you are Ok with limited redemption options / vouchers and have use for them. Otherwise you will not be able to redeem anything meaningful

 

[manas_rock]

SC Ultimate will work only if you are Ok with limited redemption options / vouchers and have use for them. Otherwise you will not be able to redeem anything meaningful

Thanks, Axis atlas looks the best to me.
It otherwise looks good card. ITC transfer ratio is very high.

 

[CrudMax]

2.2% on IDFC Wealth. Little lower on Ultimate

BUT if you do only 20K you will not hit milestone and only get 6X. If you can do 30K then you get 2.2% with Wealth, else use any other card that gives atleast 1.5% as base reward to get net return to 0%

What if i pay 30k? Will i get 2.2% on 30k? Or will extra reward points only be provided for spend above 30k? Also, can i use my cc to pay a family member's advance tax? Or does cc needs to be in their name only?

 

[sourpai]

What if i pay 30k? Will i get 2.2% on 30k? Or will extra reward points only be provided for spend above 30k? Also, can i use my cc to pay a family member's advance tax? Or does cc needs to be in their name only?

IDFC Wealth will give 1.5% till 30K and 2.5% beyond that. 2.2% he mentioned is the net reward rate on ~1L transaction

You can pay other members Tax also. But be careful to not exceed your CC spends beyond your income levels in an year

 

[ontherocks]

What if i pay 30k? Will i get 2.2% on 30k? Or will extra reward points only be provided for spend above 30k? Also, can i use my cc to pay a family member's advance tax? Or does cc needs to be in their name only?

Govt just needs the money from you. It doesn't care from where the money is coming.

If you have HDFC Platinum DC, use ICICI Amazon Pay CC for 1% cashback and then additional 1% cashback while repaying via HDFC Platinum DC.

 

[CrudMax]

Govt just needs the money from you. It doesn't care from where the money is coming.

If you have HDFC Platinum DC, use ICICI Amazon Pay CC for 1% cashback and then additional 1% cashback while repaying via HDFC Platinum DC.

Won't it be lesser than idfc? I can use idfc for 1.5 %, then use hdfc platinum dc for 1%

 

[ontherocks]

Won't it be lesser than idfc? I can use idfc for 1.5 %, then use hdfc platinum dc for 1%

I am not sure about IDFC returns in terms of cash. Is it 1.5% returns in terms of cash?

 

[CrudMax]

I think yes

 

[knowbie]

For 1 lac you will get 2.2% on IDFC Wealth and then 1% for 75K on Platinum DC

 

[VijayflyRaven]

Govt just needs the money from you. It doesn't care from where the money is coming.

If you have HDFC Platinum DC, use ICICI Amazon Pay CC for 1% cashback and then additional 1% cashback while repaying via HDFC Platinum DC.

Amazon icici did not get any rewards for me.

 

[ontherocks]

For 1 lac you will get 2.2% on IDFC Wealth and then 1% for 75K on Platinum DC

Can you redeem that 2.2% as cash? If so, how?

 

[sourpai]

Can you redeem that 2.2% as cash? If so, how?

When you do the next transaction with wealth cc, on OTP page there is an option to pay with points. If transaction value is > point redemption value then it will redeem full and remaining amount can be paid via card

 

[ontherocks]

When you do the next transaction with wealth cc, on OTP page there is an option to pay with points. If transaction value is > point redemption value then it will redeem full and remaining amount can be paid via card

Does Wealth CC give the same 2.2% with insurance premiums payments too?
@knowbie