What's the best Credit Card (July 2024) 💳
Context: Currently have ICICI Amazon, an AmEx and a couple of normal ones Thought of an Axis Magnus, got it too, but then it got devalued.
Not eligible unfortunately for HDFC Infinia and would have to pay for ICICI Emeralde. What's a good credit card for me to adopt and keep on a running basis?
And what are your favs in general?
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Never understood the obsession with optimising for credit card rewards. Feels like people just end up spending way more to earn that extra 1-2%. If only you put in that much time and effort into earning more money in the first place.
Umm no man I realize my mistakes
I’ve always been averse to collecting rewards Over time, started seeing people around me who spend half as much as me but enjoy many more perks (fly better flights, better seats, for free) Or just get better discounts in instances
I agree with you, one shouldn’t spend more to optimize. Won’t go to the level. But don’t wanna leave money on the table 🤒🤒
Credit card rewards are hardly 5%. There's no other trick. It doesn't optimise beyond that. People who are flying business class by credit card rewards, they are spending 20 business tickets worth money in normal travel. Maybe due to office expenses. But that's the truth. There's no other trick
SBI Cashback Credit Card until it gets devalued.
Second this. Unfortunately they don't provide LTF card. There's a 999 joining and renewal fee. They might reduce it based on spends
Bro, get it. Don’t delay. It’s super easy to recover ₹1k+GST in the form of cashbacks. I have HDFC Millennia & this one & I prefer this one.
Diners Club Highly recommend, great rewards on spending especially if you eat out often + international lounge access
Not clear about eligibility
Swiggy HDFC is the best if you already order a lot of food and groceries online
Whats your expense profile? Without that it’s difficult to call out one particular card. Infinia is worth the fee if your expenses are in the range of 10L a year. Like i said share your expense profile.
Ummm I don’t think I spend 10L a year Including rent, yes But not without rent
I prolly spend 6-7L a year except rent
And whats the breakup of these? I mean do you travel a lot or do you order in/dineout a lot?
If you travel then get the Vistara Axis Over time got me a couple of free tickets
Plus eases upgrade to Premium Economy
Every "good" credit card in India follows the cycle of hype -> user growth -> devaluation, be it from Axis to HDFC to Yesbank to IDFC... And while most folks hype up credit card usage, most get "value" of just a few thousand rupees per year keeping aside all other charges, while needlessly upscaling to a lifestyle that their income doesn't support.
Honestly, focus on accelerating career progression and increasing passive income/investments instead of credit cards because that's the easiest way to wealth in India (In more economically developed countries,credit score and credit card hacking makes sense.... In India it's only for Cred coin jackpots and making threads on X 😛)
If I spend 2-5 lakh per year which Amex card will be best for me ??
Following this
The AMEX Rewards platinum is good