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Credit Card - Help & Recommendations


El Tigre Chino
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43 minutes ago, abhi90 said:

They sort of conveyed that they will replace my existing Citi CC. Let's see what happens. CC anyways looks like those things that you need but actually don't use them that all

 

The convenience of UPI >>>> CC/DC. From a nukkad wali shop to Taj, can be used anywhere. 

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3 minutes ago, KunjanPSD said:

Nukkad pe toh hum bhi UPI hi use krte hai but other than small/micro denominations or specific usecases, CC should always be used.

 

Logic se sansaar chal raha hota to Russia Ukraine war nahi hoti, Trump President nahi hota etc etc. 

I just said the convenience of UPI trumps everything else. The path of least friction will win. 

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14 minutes ago, Bird Bird Bird said:

 

Logic se sansaar chal raha hota to Russia Ukraine war nahi hoti, Trump President nahi hota etc etc. 

I just said the convenience of UPI trumps everything else. The path of least friction will win. 

In the last 4 months of using Magnus and doing legitimate spends (not even 1rs more than I would spent otherwise) using the correct multiplier portals, I have enough points (or will have enough once they credit) to get me 1 Biz return to US or 3 biz return to EU.

UPI can win for majority, that's how logical CC users will continue to earn rewards.

Edited by KunjanPSD
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1 minute ago, KunjanPSD said:

In the last 4 months of using Magnus and doing legitimate spends (not even 1rs more than I would spent otherwise) using the correct multiplier portals, I have enough points to get me 1 Biz return to US or 3 biz return to EU.

UPI can win for majority, that's how logical CC users will continue to earn rewards.

 

Depends on where you shop ? Most places I do ask 2% extra for CC. Doesn't make sense to me tbh. They provide extra discount on cash.  

And Amazon/FK already have 5% cb. 

My CC utilisation is <10%. 

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13 minutes ago, Bird Bird Bird said:

 

Depends on where you shop ? Most places I do ask 2% extra for CC. Doesn't make sense to me tbh. They provide extra discount on cash.  

And Amazon/FK already have 5% cb. 

My CC utilisation is <10%. 

Amz/FK give you 5% because they know that's bare minimum and what other CCs can offer. They are actually capitalising on the convenience of instant cashback, not you.

 

Plus, the places which ask for extra charge (pretty sure none of these will include your food/grocery/dine/travel), your are taking CC out of the options for some cash discount without thinking whether post-charge rewards are good or not.

You can pretty much use your CC everywhere, even after paying additional charge to get more rewards.

You can use your CCs in right way to even pay bills/rent etc to get rewards, post charges!

 

I pretty much spend on regular, everyday places as well, nothing special.

Instant discount vs delayed gratification. I choose the later.

Edited by KunjanPSD
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6 minutes ago, KunjanPSD said:

Amz/FK give you 5% because they know that's bare minimum and what other CCs can offer. They are actually capitalising on the convenience on instant cashback, not you.

 

Plus, the places which ask for extra charge (pretty sure none of these will include your food/grocery/dine/travel), your are taking CC out of the option for some cash discount without thinking if whether post-charge rewards are good or not.

You can pretty much use your CC everywhere, even after paying additional charge to get more rewards.

You can use your CCs in right way to even pay bills/rent etc to get rewards, post charges!

 

Instant discount vs delayed gratification. I choose the later.

 

Everything makes sense, but convenience + the fact that money is going in real time from my account (not on credit) plays a huge psyche in limiting overspending. 

 

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7 minutes ago, Bird Bird Bird said:

 

Everything makes sense, but convenience + the fact that money is going in real time from my account (not on credit) plays a huge psyche in limiting overspending. 

 

I guess, that's more of a discipline vs convenience. That's a separate debate.

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2 hours ago, KunjanPSD said:

In the last 4 months of using Magnus and doing legitimate spends (not even 1rs more than I would spent otherwise) using the correct multiplier portals, I have enough points (or will have enough once they credit) to get me 1 Biz return to US or 3 biz return to EU.

UPI can win for majority, that's how logical CC users will continue to earn rewards.

What’s your ball park monthly spend like? If you don’t mind sharing.

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25 minutes ago, El Tigre Chino said:

What’s your ball park monthly spend like? If you don’t mind sharing.

Last 4 months have been kind of fortunate expenses wise, that I was able to take advantage of the right multipliers at the right time. I don't expect to earn this kind of return in coming months because of lesser/different mix of spends but that's doesn't matter because I have already recouped a lot more than what I paid for the card.

For last 4 months, around 1L/month (this might look high but includes some expenses which almost everyone makes in a year lumpsum).

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16 hours ago, KunjanPSD said:

For last 4 months, around 1L/month (this might look high but includes some expenses which almost everyone makes in a year lumpsum).

Not bad for the spends, about 1L worth of rewards on 4L of spends.
 

What are the fees like on Magnus?

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1 hour ago, El Tigre Chino said:

Not bad for the spends, about 1L worth of rewards on 4L of spends.
 

What are the fees like on Magnus?

10k + Gst, you do get a tata cliq voucher of 10k (currently this is the offer might change) so basically you'll pay 1800 and whatever monetary value you loose on the voucher.

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2 hours ago, El Tigre Chino said:

Not bad for the spends, about 1L worth of rewards on 4L of spends.
 

What are the fees like on Magnus?

You have to be quick with Magnus. Devaluation is inevitable with such a reward rate, maybe a few more months and once Citi acquisition is up, they will roll back.

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