[moloised]

Originally Posted by livetodrive

Other than trying my luck on clearing my outstanding CC bill, what is the utility of CRED app? Can anyone please explain? (I am planning to remove the app since long)

I have been using CRED for more than 2 years now. Listed below are some of the benefits of the app.

With CRED Mint (peer to peer lending - invite only), I earn 9% interest on deposits which none of the leading banks give me today. And I can withdraw it in seconds if and when required.

With CRED Max, I can use credit card to pay my monthly rent, and daughter's tuition fees. Yes, I have to pay a service charge but the points I accumulate more than compensate for it. For example, I get ₹6000 as statement credit (like real money) on my AMEX Card every 5 months because of the accumulated points. That's minimum ₹12,000/year.

With CRED Cash, I have access to ₹5 Lakhs instant credit line which has been very useful not just for me but my friends and family. The interest rate is same as other banks at 13%, but none of the other hassles like paperwork, verification, KYC, waiting period of 48 hours etc. Truly instant (less than 10s) because I am credit worthy!

I have received ₹5000+ cash till date in my account just for paying my bills. These days you don't get same amount of cashback as earlier but nobody else pays me for paying my bill on time.

I have got excellent discounts for two family vacations planned till date. No other travel booking site or even the resort website prices were able to match the price at that time of booking. We always look for family vacations now on CRED first and then others.

CRED collates details of all the existing offers on my cards and sorts them neatly under various categories.

For the finance enthusiasts, CRED gets you the most updated credit score every month for free.

I hope this helps answer your question.

[Jude300]

Originally Posted by livetodrive

Other than trying my luck on clearing my outstanding CC bill, what is the utility of CRED app? Can anyone please explain? (I am planning to remove the app since long)

In my humble opinion and being part of the cards and payments business I would say CRED as I have understood doesn't offer much. So you may very well remove and keep your financials in your control.

The fintech landscape is rapidly changing with new ideas and startups sprouting every other day. Whatever be the idea the underlying fact is that most of these companies need your data. Like Google, which snoops into all your personal stuff, these companies want to know your spending behaviour (on what, when, where, how you pay etc). They will soon know what will you spend on next and will start to influence your decision. Data is the biggest asset for these companies.

While early birds will benefit from bigger offers I would still wait a considerable time before I adopt these apps or services. Apps like swiggy make life easy and opens a lot of new opportunities. There are downsides but I would still adopt those as I don't mind to pay for the convenience. But I am one who thinks financial discipline should be ones own and should not be left to these apps or services. If you don't know how to use these apps properly you will lose more than you save. Nothing comes free in business.

[turbospooler]

Originally Posted by amritpal2489

Guys... Can somebody suggest me a CC (easy to acquire and low joining & annual fees) which give priority pass membership with complimentary international lounge visits

Yes First Exclusive.
If you are salaried, then you can get this card for Life Time Free (or atleast they used to offer it LTF earlier).
Gives unlimited Priority Pass Lounge access internationally (chargeable if used in India).

[amritpal2489]

Originally Posted by turbospooler

Yes First Exclusive.
If you are salaried, then you can get this card for Life Time Free (or atleast they used to offer it LTF earlier).
Gives unlimited Priority Pass Lounge access internationally (chargeable if used in India).

How do I get this card?

[turbospooler]

Originally Posted by amritpal2489

How do I get this card?

Apply on their website.

[kit_dennis]

Thankyou moloised. I was looking for this info for sometime.
Few questions.

With CRED Max, I can use credit card to pay my monthly rent, and daughter's tuition fees. Yes, I have to pay a service charge but the points I accumulate more than compensate for it. For example, I get ₹6000 as statement credit (like real money) on my AMEX Card every 5 months because of the accumulated points. That's minimum ₹12,000/year.

Can you please elaborate on how do we acheive this for Amex card?

I have got excellent discounts for two family vacations planned till date.

Most of the vacation deals are only for couples. If kids are there, will it still workout cheaper than other sites?

[Night Raven]

Originally Posted by tejas08

Had posted a Thread on Twitter some time back on how to convert Infinia Points to Airmiles.

Dear tejas08, can you please elaborate your opinions regarding the fuel credit cards when you can? Do you use any? At what point of monthly fuel spends such a card makes sense? I have been trying to find out information regarding few fuel CCs available since I spend 9000-12000 a month on fuel. Your suggestions will be very much appreciated since you seem to have a lot of understanding of these things.

[top_gear]

Originally Posted by shyampsunder

Coincidentally, RBI has brought out a guideline targeting your exact problem!

For once a regulation that actually makes sense.

Here is the exact regulation:

"Any credit amount arising out of refund/failed/reversed transactions or similar transactions before the due date of payment for which payment has not been made by the cardholder, shall be immediately adjusted against the ‘payment due’ and notified to the cardholder."

You can read more about the latest guidelines here: link

Amazing. Thanks for info.

Unfortunately, card under discussion is not from india. But this gives me enough push to check local regulations for sure.

[tejas08]

Originally Posted by Night Raven

Dear tejas08, can you please elaborate your opinions regarding the fuel credit cards when you can? Do you use any? At what point of monthly fuel spends such a card makes sense? I have been trying to find out information regarding few fuel CCs available since I spend 9000-12000 a month on fuel. Your suggestions will be very much appreciated since you seem to have a lot of understanding of these things.

Multiple Solutions to this:

- Fuel Cards - Simple Rewards in terms of Fuel only. But can be a pain at times for redemption at fuel bunks. SBI BPCL Octane is a good bet for you in this category

- Cards that have Milestones bonuses or fee waivers - You could move your Fuel spends to such cards. While it may not give Instant gratification on fuel with high rewards, the Milestone bonuses you achieve through adding up of spends or fee waivers on meeting spend milestones would count to a significant savings. Example - Amex MRCC / Gold Charge / Platinum Travel

- Cards with Travel Rewards - This may sound strange but this is kind of subset of the above category. Example - Vistara Co-Branded Cards. 4 Premium Economy & 2 Economy Domestic Tickets for Approx. ~4.6 Lacs Spends.

[sunilch]

Originally Posted by tejas08

Multiple Solutions to this:

- Fuel Cards -
- Cards that have Milestones bonuses or fee waivers -
- Cards with Travel Rewards -

Hello Tejas,

Building on the query related to Fuel Spends with CC - My fuel spends on CC have gone up recently with increased driving and I am now looking for a good card which will provide good benefits for the same. Not looking for free fuel in return but better points or cashback and preference for Air Miles, if the deal is good.

My spend on fuel is about 12-15K per month now as opposed to just 2k earlier.

I see some cards being promoted on link below but 6 out of 7 have a limitation on the fuel marketing company which I don't want.

https://www.paisabazaar.com/credit-c...-credit-cards/

Only HDFC Bharat Cashback Credit Card seems to be bunk company agnostic.

Do we have a better card? Most of my outstation travels are via Trains so IRCTC benefits would be nice but Air Miles are desired too

I do have good eligibility but my other Credit Card spends are limited (never crossing 50K per month).

[ZMG]

Originally Posted by tejas08

Multiple Solutions to this:
- Cards with Travel Rewards - This may sound strange but this is kind of subset of the above category. Example - Vistara Co-Branded Cards. 4 Premium Economy & 2 Economy Domestic Tickets for Approx. ~4.6 Lacs Spends.

Hi Tejas,
I have been thinking of getting new credit cards after looking at this thread and the benefits multiple Bhpians have claimed over the last few years.

I am a noob when it comes to credit cards.
I wanted to check with you:
1. Does it make sense to get a lifetime free Diners black credit card? Assuming I will be getting another card (mostly IDFC Wealth) which give better rewards, but have Diners only for Airport lounge? Also IDFC Wealth card is about 2 - 3 months away (new job - have to give pay slips)
2. Does holding multiple credit cards damage CIBIL score? I already have 2 active cards from ICICI and Kotak (another one from ICICI against an FD, but have never used it)?

Thanks

[AZT]

Originally Posted by sunilch

Not looking for free fuel in return but better points or cashback and preference for Air Miles, if the deal is good.
.

SCB ultimate card offers reward points also on fuel transactions. There is a 3.3% reward rate when redeeming for vouchers (Amazon, flipkart not available but other options). There is a 5k plus GST fee but this is a premium credit card on the visa infinite platform and also offers free golf games.

You should do the calculation and check if this card would be beneficial for you. Normal break even would be spending ~ 2 lakh a year but since fuel spends anyway won’t get get you points otherwise, break even would be lesser.

AmEx used to have a separate Gyftr portal where you could buy vouchers for HP paycode and get extra reward points. Sadly, that Gyftr AmEx portal has been shut for a while and loading directly from HP app gives you a 1% transaction fee for credit cards, which is still alright if you get a better reward rate than that. Kotak has a tie up now where you can buy HP vouchers using their credit cards.

[Fx14]

Originally Posted by sunilch

Do we have a better card? Most of my outstation travels are via Trains so IRCTC benefits would be nice but Air Miles are desired too

SBI had a co-branded card with IRCTC that offered cashback on tickets purchased on IRCTC using the card.

You may want to check if it meets your needs.

[moloised]

Originally Posted by kit_dennis

Thankyou moloised. I was looking for this info for sometime.
Few questions.


Can you please elaborate on how do we acheive this for Amex card?


Most of the vacation deals are only for couples. If kids are there, will it still workout cheaper than other sites?

You can redeem points for statement credit once you hit 18,000 or 24,000 using the AMEX app/website. I have redeemed ₹12,000/- every year (for 3 years) since I got the AMEX MRC Card.

As for the vacation deals, it has worked out for the three of us. Because our daughter is 5 years old, most hotels don't charge extra.

[rkg]

Originally Posted by moloised

You can redeem points for statement credit once you hit 18,000 or 24,000 using the AMEX app/website. I have redeemed ₹12,000/- every year (for 3 years) since I got the AMEX MRC Card.

One can redeem for Rs 7000/- Amazon voucher as well for 18000 points