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Old 28th July 2023, 01:01   #6796
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Re: The Credit Card Thread

For all those still evaluating the after-effects of the massive devaluation of the Axis Magnus Card. I will suggest you all go through this article, which will give some perspective on that. I will be sharing some of the excerpts from this article below.

The fundamental change here is to reward points earning and miles transfer ratios. The card used to offer 31,000 EDGE Rewards points/24,800 Miles for INR 1,00,000 spent, which will now reduce to 6,000 ER points/2,400 Miles effective September 1, 2023, a steep devaluation of 90% if you are one of the people who like to use your ER points for air miles transfer. However, if you like to use your points for shopping at INR 0.2 value per point, you now get INR 1,200 every month as a reward, compared to INR 6,200 earlier, which is 20% of the earning potential earlier.

Put in another way; EDGE Rewards earned INR 1 Lakh spent now would be only achievable with INR 3.26 Lakhs spent in a month going forward. That, too, with the conversion taking a deep dive.
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Old 28th July 2023, 12:01   #6797
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Re: The Credit Card Thread

Quote:
Originally Posted by aseem23 View Post
Hello lovely people,

Has anyone has any experience of buying a car by making complete payment via Credit card? I am looking to buy the upcoming Mercedes GLC which is expected to cost around 70-75 lakhs on the road. I know the booking amount can be made via CC, but what about the complete payment? I do have a supporting card with enough credit limit to complete the transaction.

I am yet to reach out to the nearest dealership to ask them about this, but if anyone has done a similar thing in the past, then it will be helpful to know the experience, or any tips.

Thanks.
I have done this when buying a Skoda Kushaq. Dealer markup for CC was 1.8%, but Infinia gave a 3.3% flat back as points, so got 1.6% ~ back.
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Old 28th July 2023, 12:18   #6798
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Re: The Credit Card Thread

Quote:
Originally Posted by Highh5 View Post

The fundamental change here is a steep devaluation of 90%
Still recovering from this.

I had the card for 6 months and tried maximizing the benefits knowing fully that a day like this would come. But for a premium card like this, the devaluation is a bit too much no?

My number one card will see zero usage from August 31, 2023. What a shame.
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Old 28th July 2023, 12:48   #6799
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Re: The Credit Card Thread

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Originally Posted by UD17 View Post
is anybody using ICICI emeralde credit card. The card offers unlimited access to Lounges (national/International)+ unlimited spa service at airports.

I have specific questions on fuel surcharge waiver on this card. Is it a good card for fueling?
I am not using Emeralde because my Lounge access requirements are met by Infinia, Magnus and Prestige Priority Pass (all allow domestic usage) and there are no other features which are lucrative for me.

Regarding the surcharge, this is what I found in the MITC:
Quote:
1% of transaction value or ₹ 10, whichever is higher. Surcharge waiver of 1% of transaction value on HPCL petrol pumps on select cards (this offer is valid on a maximum transaction of ₹4,000, when the payment is made by swiping the card on ICICI Merchant Services swipe machines).
Surcharge waiver of 1% of transaction value at all petrol pumps. Cost of fuel will be recovered, along with charges and taxes levied, if any, by the acquiring bank at actual. On fuel purchase at Offus terminals and non-HPCL outlets, the surcharge reversal will not include GST
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Old 28th July 2023, 22:49   #6800
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Re: The Credit Card Thread

Quote:
Originally Posted by dheer4 View Post
I have done this when buying a Skoda Kushaq. Dealer markup for CC was 1.8%, but Infinia gave a 3.3% flat back as points, so got 1.6% ~ back.
Quote:
Originally Posted by libranof1987 View Post
A few people on this thread have made vehicle purchases on the credit card, although I doubt the amount has exceeded 10, or maybe 15 lakhs.
Quote:
Originally Posted by sunilch View Post
Technically possible and I am sure people would have done that for partial payments, if not full.
Quote:
Originally Posted by Jaguar View Post
The two dealerships I had bought my cars from said they charge a card fee of 2-3% on card payments and preferred cheque or bank transfer instead.
Thanks, guys. I checked with the Merc dealership, and they are willing to accept full payment via card. Up to 10lakhs without any transaction fee, on the pending amount they will charge 2% as swipe charges, but I will get around 4.5%-5% return from AMEX Centurion in the form of discounts, points, and Taj Vouchers.

Waiting for the car launch, and will keep posted.
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Old 29th July 2023, 09:05   #6801
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Re: The Credit Card Thread

Came across this YT video on devaluation of Axis Flipkart card.



I got it LTF and used it extensively for Flipkart/Myntra purchases, swiggy and most importantly flight bookings(I fly 3-4 times a year). Even for other general transactions I used this card for the 1.5% cashback. Now I understood Flight bookings & myntra will attract only 1.5% cashback. How about other general spends? Do they continue to get uncapped 1.5% cashback?

The other card I have is Amazon icici which I use for Amazon shopping and utility bills (2% cashback). General spends attracted 1% cashback, so flipkart axis was my preferred card for those till now.

How are hdfc cards? Never tried it but I have salary account in hdfc. My annual cc spend is around 7-8L. Do they have better benefits than Flipkart axis/Amazon icici?

Last edited by SoumenD : 29th July 2023 at 09:21.
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Old 29th July 2023, 09:51   #6802
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Re: The Credit Card Thread

Quote:
Originally Posted by SoumenD View Post

How are hdfc cards? Never tried it but I have salary account in hdfc. My annual cc spend is around 7-8L. Do they have better benefits than Flipkart axis/Amazon icici?
Seems you are into the cashback game of CC, I suggest you should have following cards :
1. HDFC millenia (5% cashback on most online spends)
2. Axis Ace (2% cashback on offline spends, 5% on untility through gpay)
3. SBI cashback (if you dont get option 1)

Happy exploring CC worlds.
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Old 29th July 2023, 21:04   #6803
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Re: The Credit Card Thread

Are there any actual benefits to paying income taxes with credit cards? None of my cards are fancy enough to have milestone benefits.

As far as I understand it Axis, HDFC and SBI had clarified that they won't give any benefits for government related payments (I guess that means Income tax too).

Amongst my cards:
1. ICICI Amazon Pay
2. HDFC Millenia
3. Axis Airtel
4. SBI Cashback

I guess only ICICI is actually left. Can someone confirm if they actually pay 1% cashback. With SBI payment gateway levying no transaction charges, I was thinking this would be a silver lining in an otherwise depressing tax paying weekend.
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Old 29th July 2023, 23:01   #6804
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Re: The Credit Card Thread

Quote:
Originally Posted by JithinR View Post
...
I guess only ICICI is actually left. Can someone confirm if they actually pay 1% cashback.
I got cashback for a payment made in Jan/Feb timeframe. Not sure if this is revoked now.
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Old 29th July 2023, 23:39   #6805
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Re: The Credit Card Thread

Hi all, I am due to travel outside India in September. What all credit cards are there which one can use having zero markup fee?
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Old 30th July 2023, 13:17   #6806
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Re: The Credit Card Thread

Quote:
Originally Posted by sahil624 View Post
... What all credit cards are there which one can use having zero markup fee?...
If you are OK with a secured credit card and need it in a week, check out IDFC FIRST Bank WOW! credit card:
https://www.idfcfirstbank.com/credit-card/wow
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Old 31st July 2023, 07:54   #6807
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Re: The Credit Card Thread

Quote:
Originally Posted by sahil624 View Post
Hi all, I am due to travel outside India in September. What all credit cards are there which one can use having zero markup fee?
RBL Bank World Safari Credit Card

https://www.rblbank.com/product/cred...ri-credit-card
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Old 31st July 2023, 13:01   #6808
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Re: The Credit Card Thread

Any idea if the Fuel Surcharge + GST is charged when paying through Rupay CC (using UPI).
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Old 31st July 2023, 14:05   #6809
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Re: The Credit Card Thread

Quote:
Originally Posted by adi.mariner View Post
Any idea if the Fuel Surcharge + GST is charged when paying through Rupay CC (using UPI).
I have made multiple attempts for pay fuel via UPI using RuPay CC.
Only one time it worked for the bike ~500/-(No surchagre/no waiver)
four times for car ~3500/- it failed(Twice each at IndianOil and HP), from different apps(PayTM and PhonePe), while tap works fine. Not sure if issue is with my card or in general.
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Old 31st July 2023, 16:04   #6810
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Re: The Credit Card Thread

Quote:
Originally Posted by adi.mariner View Post
Any idea if the Fuel Surcharge + GST is charged when paying through Rupay CC (using UPI).
I have used HDFC Tata new Rupay card from paytm app to do UPI payment for fuel transactions. The amount in the statement is exactly same as the transaction and no surcharge is added.
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