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-   -   The Credit Card Thread (https://www.team-bhp.com/forum/shifting-gears/92603-credit-card-thread-239.html)

Without getting into the rewards aspect of cards, one underrated aspect of having credit cards is that it helps you smooth out your cashflow. You basically get interest free loan for 15-50 days which comes handy when you have uneven spending pattern each month. Of course one shouldn't spend beyond what one can afford.
Example: I just paid 30k for some insurance today using a card. The card bill will be paid only in first week of May, which is 48 days from now.

Since, you are talking about your first credit card, there are many factors at play.

1. Do you have any active Loans? If yes, this helps you in having a CIBIL score, which is important in getting a good credit card.
2. If the answer to first question is no, then you probably dont have a CIBIL score. In such a case, your best bet to start into the world of credit cards is applying for a credit card in the bank where you have a salary account.

Now elaborating further on point number 1, which credit card to apply for depends mainly on Gross Income & Spends classification. No single size fit all strategy over here.

That's just the basic & lowest of all the perks of a credit card. lol:

Yeah, i know! But seeing many members posting here saying they have never used a credit card in their life, i feel they are leaving money on the table!

True. Now I feel I should not have been so dismissive of credit cards before. I normally keep a lookout on my spending, and I feel I could have avoided the scare mostly associated with them: being spendthrift. And for the other expenses, if I get some relief before the actual payment or if it helps me earn some redeemable points, I don't see any harm in that. Wish I would have thought of this before :Frustrati

I am fortunate not to have any loan. My salary account is with HDFC and when I contacted them they told me that I could apply for 'Regelia First' and 'Millenia' cards. They seem to be more keen on the latter. But on paisabazar, I saw that the annual savings of 'Regelia First' is substantially more than 'Millenia'. I am yet to decide since they are saying that 'Millenia' is more suited if annual spending is not too high. I have to decide soon since I have to some premium payments coming up.

Regalia First is discontinued AFAIK. Also, Regalia is better than Regalia First and most people with a salary account in HDFC will get a Lifetime free Regalia anyhow. Tell them you want Regalia. They will give it.

Yes. The optimum approach is to have a credit card with the same bank as your savings account, and have a Auto-Debit enabled for full payment. That way no worries about missing payments also.

I'm planning to apply for Amazon Pay CC from ICICI as second credit card. Does anyone own it or is it really worth it considering I buy frequently from amazon and am a prime member?

I dont think so. I was offered an upgrade last week to Regalia First and I'm still being pestered for it for which I'm reluctant because it attracts a yearly membership fee as opposed to my current lifetime free card.

Can anyone let me know if i can get hold of a HDFC Bank CC, maybe Regalia, with no existing relationship with the Bank? I did inquire once but i was told i need to hold a Savings Bank A/C to get a Credit Card. Is there any Referral System applicable to HDFC Cards?


I own it for more than an Year now and i feel it is really worth it, considering it is a free card with no charges. And if you are a frequent shopper on Amazon, more the benefit as you get 5% cashback as APB under Prime Membership.

Its a simple evaluation. Cant think of many cards which are as simplified as the ICICI Amazon Pay card. Unlimited 5% Amazon Pay Cashback for purchase on Amazon by an Amazon Prime member. Unlimited 1% Amazon Pay Cashback for all other uses.

If you have any other card rewarding higher than this, then ignore it.

Regalia First and Diners Club Miles will get discontinued shortly. As far as Annual fee goes, HDFC gives cards upto Regalia as Lifetime free. You just need to know how it works. There are few check points for Lifetime free cards.

Upto Regalia, you can get it without any relationship with HDFC if you meet the Income criteria. But HDFC has a nag of rejecting application if no existing relationship with HDFC. No referral system in HDFC credit cards.

Thanka both :) Applied for Amazon Pay cc. The verification is scheduled for next month though. Not sure its usually that long or its due to Corona. Hoping for the best

I got my Amazon Pay ICICI card instantly, may be as I already have the ICICI card. They e-mailed me the card facsimile and the PIN. The card did take some time to arrive.

A very important aspect, that's also the main reason i took a card.
Just assuming a 1Lakh billing per month one would end up saving atleast 7-8k per annum depending on the interest rate we calculate.

Thats great! Not sure why not for me. I'm a corporate customer with ICICI (have a current account) and so they should have my KYC already. Probably the current account KYC comes under company and this under personal.

Although let's see how it goes and how good credit they offer. My HDFC card has pretty high limits probably could bargain with that.

Yes strategic timing gives you the maximum benefits.

My billing cycle ends on 19th. So if possible I schedule all large expense for 20th to 25th, which means I get at least 40 days of credit for at least 50% of my expenses.

The only catch is that once you are in the cycle it does not matter as you are paying large bills regularly, just deferred by a month.

Does ICICI provide credit cards for a NRI? I have an existing relationship with them in terms of a bank(20+ years) and housing loan(15+ years) account.

Some of these posts on the thread, making me have a card for expenses when I will be in India. :)