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Old 9th February 2023, 16:19   #6211
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Re: The Credit Card Thread

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Originally Posted by Pancham View Post
Guys, I need to cancel a few of my credit cards because I realized I have too many now. Which ones should go?

1. Kotak Royale: Absolutely useless in terms of points and rewards. Want to cancel it asap.

2. HDFC intermiles Card: Another useless card in terms of points and rewards but keeping an HDFC CC helps when there is a sale (on Apple products) on Amazon.

3. Amex Reward Card: Want to cancel but not sure if it will be good to keep an Amex for foreign travel

4. Flipkart Axis: This is for sure going.

5. Axis - Magnus: My favourite card. Its a keeper.

6. ICICI - Amazon Pay Card. No feelings about it but want to retain due to large number of Amazon purchases.
My recommendation: Cancel Kotak and Flipkart card. Swap HDFC Intermiles with Regalia or some other one if they are giving the option.

Amex MRCC for foreign travel will be pretty expensive as you get charged 3.5% which is same as others but Amex acceptability is a global issue.
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Old 12th February 2023, 11:07   #6212
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Re: The Credit Card Thread

Guys, can anyone help me redeem the Axis rewards points and converting them for Vistara points? I am on the eDGE Reward page on the Axis App but not sure how to convert. Thanks!

Also, for Magnus, the conversion rate is 1 eDGE point = 0.8 CV points right?

Last edited by Pancham : 12th February 2023 at 11:18.
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Old 12th February 2023, 11:32   #6213
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Re: The Credit Card Thread

Hello

I am interested in the Axis Bank Magnus CC. Do I need to open a FD or bank account in order to apply for the same? I am self employed and have a good credit score 700+. I am using two CCs right now - Standard Chartered Titanium and ICICI Amazon Pay.

I tried applying for the Magnus CC online but was only offered the basic CCs. It seems the online application is not allowing me to choose the card of my choice.

Kindly advise. Thank you.
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Old 13th February 2023, 09:15   #6214
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Re: The Credit Card Thread

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Originally Posted by kushagra452 View Post
Kindly advise. Thank you.
Mine happened via their call center. Worth trying.

Came across a well written review of the magnus. Good read.
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Old 13th February 2023, 10:46   #6215
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Re: The Credit Card Thread

I recently purchased a new car and paid an amount of 13L through my HDFC Diners Black Credit Card. The dealership charged me an additional 1% on this amount but I will earn 3.3% in reward points + additional milestone benefits too.

Now, my question is, should I repay the full amount to my bank right now before the next statement is generated or wait for the statement to be generated and then pay a day or two before the due date?

Which would be more beneficial overall?

I do not need the extended credit period though.
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Old 13th February 2023, 11:00   #6216
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Re: The Credit Card Thread

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Originally Posted by vikash49 View Post
Now, my question is, should I repay the full amount to my bank right now before the next statement is generated or wait for the statement to be generated and then pay a day or two before the due date?
Since you have the funds, I'd suggest you pay it off before the bill is generated. That way, this 13 lakhs isn't counted in the outstanding, which would have otherwise skewed your utilisation tremendously. Utilisation is one part of your credit score calculation and an unusually high % will negatively affect your credit score.
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Old 13th February 2023, 15:17   #6217
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Re: The Credit Card Thread

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Originally Posted by vikash49 View Post
... but I will earn 3.3% in reward points + additional milestone benefits too....

Can you help me understand what is this 3.3% rewards? The standard rewards rate for this card is not 3.3% and its also limited to 2.5k points per day right?
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Old 13th February 2023, 16:46   #6218
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Re: The Credit Card Thread

I had checked online here to see if there was any per day / per billing cycle capping on points accrual but did not find anything. Then I also spoke to customer care at premium card services and they reaffirmed there were no such cappings.

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Originally Posted by Transmission View Post
Can you help me understand what is this 3.3% rewards? The standard rewards rate for this card is not 3.3% and its also limited to 2.5k points per day right?
May I know the source of this info?
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Old 13th February 2023, 17:12   #6219
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Re: The Credit Card Thread

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Originally Posted by kushagra452 View Post
Hello

I am interested in the Axis Bank Magnus CC. Do I need to open a FD or bank account in order to apply for the same? I am self employed and have a good credit score 700+. I am using two CCs right now - Standard Chartered Titanium and ICICI Amazon Pay.

I tried applying for the Magnus CC online but was only offered the basic CCs. It seems the online application is not allowing me to choose the card of my choice.

Kindly advise. Thank you.
  • You do not need an FD or bank account in order to apply.
  • A credit score is not the criteria for a credit card application, rather your in-hand salary is. For self-employed, you need to submit your ITR. For Magnus, you need INR 1.75 lakhs per month in-hand salary to apply.
  • They will check your credit score only after your application is taken in.
  • The reason why you were shown only basic cards is that your salary/income range shown was not sufficient for Magnus. Show a higher range with supporting documents.
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Old 13th February 2023, 18:44   #6220
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Re: The Credit Card Thread

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Originally Posted by drive2eternity View Post
I have an AMEX Platinum Travel Credit Card and acceptance is at about 97%. However, I use it for my online purchases and always complete the threshold of 4 lacs spend. This gives me 10k worth of Taj Vouchers. Also, 1.9 lacs spend gives 5k worth of Flipkart vouchers. Other benefits are: Superior customer care service, 8 annual lounge visits & exclusive AMEX lounge access.

It costs me 5k per annum and I have no qualms in continuing it.
I saw your post and while taking a flight the other day got my Amex gold charge card upgraded to this one. They reduced the first year charge to 3500/- and assured me that subsequent years would probably be waived based on usage (like my gold charge card inevitably is). I have paid up the old card and asked for it to be cancelled since there is no little point in retaining two Amex cards. The Platinum Travel definitely has superior benefits, especially the lounge access since work travel has now resumed.

They got my video KYC done at the airport itself which was a novel experience! Card arrived within 2-3 days. I've already started using it. Like you, am sold on the superior Amex customer service experience and have no intention of giving it up.

I also applied for and received an ICICI Sapphiro card on top of my Amazon Pay card, which didn't provide for lounge access. Got access to the Dreamfolks programme with 2 international airport lounge visits access a year and 2 domestic airport spa visits as well. I had no idea these even existed but will surely try these out There are also golf lessons and bookmyshow offers that it is eligible for. It's LTF so I don't mind holding on to both cards.
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Old 13th February 2023, 19:01   #6221
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Re: The Credit Card Thread

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Originally Posted by noopster View Post
...Dreamfolks programme...
Got a Dreamfolks Privilege card with the IDFC First Wealth card as well. I'm probably not going to utilise the Spa or golfing lessons but the lounge access (Domestic & International), additional travel benefits via Visa and fuel surcharge waivers are worth it by themselves, decent reward point multipliers too. 4 visits per quarter is probably second only to cards with unlimited lounge privileges.

Cherry on top, LTF.

Last edited by Chetan_Rao : 13th February 2023 at 19:09.
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Old 13th February 2023, 22:30   #6222
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Re: The Credit Card Thread

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Originally Posted by brownkaiser View Post
  • For Magnus, you need INR 1.75 lakhs per month in-hand salary to apply.
Thanks for sharing this information. At present I am not eligible for this card.
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Old 13th February 2023, 23:10   #6223
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Re: The Credit Card Thread

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Originally Posted by kushagra452 View Post
Thanks for sharing this information. At present I am not eligible for this card.
My apologies. The monthly income required is INR 1.5 lakhs. Not 1.75 lakhs.
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Old 13th February 2023, 23:32   #6224
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Re: The Credit Card Thread

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Originally Posted by kushagra452 View Post
Thanks for sharing this information. At present I am not eligible for this card.
Just show them another credit card statement with a limit above 5L if you have any. That should do the job.
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Old 13th February 2023, 23:53   #6225
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Re: The Credit Card Thread

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Originally Posted by vikash49 View Post
I had checked online here to see if there was any per day / per billing cycle capping on points accrual but did not find anything. Then I also spoke to customer care at premium card services and they reaffirmed there were no such cappings.


May I know the source of this info?
I was wrong. The source of my info was hearsay from my workplace.

Looks like the restrictions only exist for certain classes of transactions like insurance payments, grocery services etc. And the baseline reward rate of 5 points per 150 Rs of spending (3.3% as you noted) continues.

Full doc at https://www.hdfcbank.com/content/bbp...ion-Latest.pdf
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