superstar@123
TF Premier
Oh Ok. Got it. Many thanks.
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Infinia Best strategy for Infinia+BizBlack+Amex Plat Travel
- Thread starter superstar@123
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Amex plat travel add on doesnt have seperate milestone benefit. Right?
R
Right. No separate milestone.
May be you would have figured it out, but if any month tax liability may not meet 45K, then insurance through smartpay/payzapp would also get 5x RPs through BizBlack.
superstar@123
TF Premier
This is great, I was not aware. Also, my first statement is yet to be generated.
Anyone explored NPS payment thru BizBlack? Diners card acceptance? Would it get at least regular RPs?
superstar@123
TF Premier
So I got my Biz Black statement generated (first statement) but 5x reward points on tax payments are not posted. Only 1x points are posted. When I checked with them, they told that it will be done in next statement cycle, however, its a stupidity to do that and I have raised the complaint for the same.
Will get an update by next week.
Will get an update by next week.
Those 5X will come under non-redeemable in next couple of days, and would become redeemable only after subsequent statement generation.
Yes, its stupidity; but will have to live with this as only card to give any significant RPs on Tax payment. Personally I don't mind as long as I get what promised. 🙄🙄
Yes, its stupidity; but will have to live with this as only card to give any significant RPs on Tax payment. Personally I don't mind as long as I get what promised. 🙄🙄
superstar@123
TF Premier
Guys, I currently have both the Infinia and BizBlack cards, and the same mobile number is registered for both.
From what I understand, each card has a separate limit for purchasing Amazon Pay Vouchers. This means I should be able to purchase ₹10,000 worth of vouchers from each card (₹10,000 + ₹10,000) to maximize the accelerated rewards. However, after purchasing ₹10,000 worth of vouchers, the platform isn't allowing me to make any additional purchases.
Am I missing something here? Would appreciate any insights!
From what I understand, each card has a separate limit for purchasing Amazon Pay Vouchers. This means I should be able to purchase ₹10,000 worth of vouchers from each card (₹10,000 + ₹10,000) to maximize the accelerated rewards. However, after purchasing ₹10,000 worth of vouchers, the platform isn't allowing me to make any additional purchases.
Am I missing something here? Would appreciate any insights!
Avatar Aang
TF Ace
Use different mobile number on payzapp/smartbuy
racydex
TF Select
Can someone tell me what is the max amount to spend on Income tax per month on BizBlack card to maximize earnings due to the 7500 cap.
Is it 56250? If yes, then that means a tax payment of 55775 + 0.85% fee = 56250
This would translate into 56250x5=1875 RP plus 1875x4=7500 so a total of 9375 RP
9375-475(0.85% fee) = 8900 earned against tax payment 55775. That's a 16% return.
Just wish to know if I am calculating it correctly
Is it 56250? If yes, then that means a tax payment of 55775 + 0.85% fee = 56250
This would translate into 56250x5=1875 RP plus 1875x4=7500 so a total of 9375 RP
9375-475(0.85% fee) = 8900 earned against tax payment 55775. That's a 16% return.
Just wish to know if I am calculating it correctly
racydex
TF Select
Thank you @cardoptimizer
Here is how to Maximize the benefits IMO in the simplest possible manner by Income Tax payments:
Option 1:
Pay income tax of 62000 per month using HDFC PG on IncomeTax website.
0.85% PG Charges of 527₹ will be added taking the monthly total to 62527₹
This will give you 2080 RP + 7500 bonus RP = 9580 RP per month, you can remove the IncomeTax PG charges of 527₹ to make net RP of 9053 per month.
9053 RP on a 62000₹ tax payment is a 14.60% return.
62527 x 12 months = 7.5 lac which is the annual fee waiver requirement of the card.
Option 2:
Pay income tax of 56000 per month using HDFC PG on IncomeTax website.
0.85% PG Charges of 480₹ will be added taking the monthly total to 56480₹
This will give you 1880 RP + 7500 bonus RP = 9380 RP per month, you can remove the IncomeTax PG charges of 480₹ to make net RP of 8900 per month.
8900 RP on a 56000₹ tax payment is a 15.90% return.
56480 x 12 months = 6.78 lac which is lower than the 7.5lac annual fee waiver requirement of the card. So it will cost you 11800₹ to renew.
So now you returns will be: 8900x12= 106800 less 11800 = 95000
95000 upon a total tax spend of 56000x12=672000 is 14.14%
So Option 1 has better returns, unless you can manage to get a annual fee waiver from HDFC without spending 7.5Lac. (Any TFCians can confirm if this is possible?)
First year you will get 5000₹ Taj Voucher on spending 1.5Lac within first 90 days.
You will also get a 5000₹ Taj Voucher for every 5Lac spent.
Consider that as a bonus, not counting in returns.
If you wish to pay more Income tax, the card will still give you 3.33%-0.85%=2.48% returns making it better than Net banking where you have 0% returns.
By the way it does not matter who's tax you are paying. You just have to pay through the HDFC payment gateway on the incometax website. So you can pay for yourself, your family, your company...
Questions for TFCians:
1. I have currently got BizBlk with a Joint limit with my Infinia, is it possible to get separate limits now?
2. Which card is better to pay for Utilities between Infinia and BizBlack? I use HDFC SmartPay to pay bills thru Infinia card as that's the best way to avoid convenience fee which most other platforms are now charging. This gives me 5 points per 150. If I do that on BizBlk instead then ideally I get 5X RP but assuming I am already maxing out on the 7500 RP monthly limit, the multiplier won't help.
3. Any other benefits I am missing?
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