Getting a good card

[yogeeswarpal]

I used to use normal Magnus till the big devaluation. I stopped using credit cards altogether from Jan 2024 as I moved from being a personal ITR to Private LTD ITR. I put all my expenses on the private ltd to save on taxes.

Now I made two huge mistakes while doing this, I closed my Magnus with 21L limit without a downgrade or upgrade and missed a rs.1693 Amazon pay cc bill. My CIBIL plummeted as expected and the banks are not offering me a credit card, except the shitty ones.

Post moving to private Ltd after a year now, again withdraw a considerable salary for myself in personal ITR and for my close family members to save on taxes. I feel if I get a good premium credit card, I can further save on expenses.

What are the ways I can get a good premium credit card, especially the top tier one(M4B, EPM, Infinia). I am open to get them secured also.

Also while applying, should I apply as self employed or salaried?

My personal ITR for last three years 81L, 85L, 12L. Will take it above 36L again this coming year.

I am a derivatives trader who manage my own funds.

 

[Wealth is my birth right!]

I used to use normal Magnus till the big devaluation. I stopped using credit cards altogether from Jan 2024 as I moved from being a personal ITR to Private LTD ITR. I put all my expenses on the private ltd to save on taxes.

Now I made two huge mistakes while doing this, I closed my Magnus with 21L limit without a downgrade or upgrade and missed a rs.1693 Amazon pay cc bill. My CIBIL plummeted as expected and the banks are not offering me a credit card, except the shitty ones.

Post moving to private Ltd after a year now, again withdraw a considerable salary for myself in personal ITR and for my close family members to save on taxes. I feel if I get a good premium credit card, I can further save on expenses.

What are the ways I can get a good premium credit card, especially the top tier one(M4B, EPM, Infinia). I am open to get them secured also.

Also while applying, should I apply as self employed or salaried?

My personal ITR for last three years 81L, 85L, 12L. Will take it above 36L again this coming year.

I am a derivatives trader who manage my own funds.

With pvt firm try hdfc business black

 

[Virtual King]

What are the ways I can get a good premium credit card, especially the top tier one(M4B, EPM, Infinia). I am open to get them secured also.

Possible Options for Infinia

• Open an Imperia or Infinity account with HDFC (see here and here)
• Ensure you are eligible for Infinia (refer to the attachments)
• Discuss the case with your BM for Infinia
• If not approved at the BM level, discuss/escalate upwards based on your relationship
• If still not approved, wait for 3-6 months and build a relationship
• Then negotiate again

On similar lines, discuss with other preferred cards you have mentioned with other banks. Some may agree.
If not immediately, then maybe within 3-6 months, if you give them enough business value.

Hope this helps. 🙂

 

[yogeeswarpal]

I already have burgundy account with axis, but they keep rejecting my application even for the Axis select credit card, as my RM said we'll upgrade it to magnus Burgundy post that, i am getting irritated with keep my funds idle too. Is the imperia sure way of securing a card?

 

[TripleAce]

I think Infinia core & BizBlack floater is the best solution to your query.
Massive savings if used in the right way!!!! 👊🏼✅👌🏼

 

[TripleAce]

I already have burgundy account with axis, but they keep rejecting my application even for the Axis select credit card, as my RM said we'll upgrade it to magnus Burgundy post that, i am getting irritated with keep my funds idle too. Is the imperia sure way of securing a card?

Infiniti is a more secure way to Infinia but nothing is guaranteed so you need to discuss/negotiate with the HDFC key folks first before opening the account.

 

[hender]

I already have burgundy account with axis, but they keep rejecting my application even for the Axis select credit card, as my RM said we'll upgrade it to magnus Burgundy post that, i am getting irritated with keep my funds idle too. Is the imperia sure way of securing a card?

1-That's the problem with Axis - No Reputation/respect of customer...even with Premium Banking...
2- Big banks(SBI HDFC ICICI Axis) will give interest in the range of 2.5 to 3% max in saving... No such good option for parking Idle funds, IDFC bank is giving 3% upto 5 Lakhs 7% above 5 lakhs, so a 10 lakhs corpus will fetch around 5%
3-Rest Product related to Equity/Debt/MF/Bond/ETF etc you know very well...

 

[TripleAce]

1-That's the problem with Axis - No Reputation/respect of customer...even with Premium Banking...
2- Big banks(SBI HDFC ICICI Axis) will give interest in the range of 2.5 to 3% max in saving... No such good option for parking Idle funds, IDFC bank is giving 3% upto 5 Lakhs 7% above 5 lakhs, so a 10 lakhs corpus will fetch around 5%
3-Rest Product related to Equity/Debt/MF/Bond/ETF etc you know very well...

@hender - Thanks for your valuable input. To add to it, I think IDFC Private CC is a strong competitor to premium cards after its recent revaluation. 💡

 

[hender]

@hender - Thanks for your valuable input. To add to it, I think IDFC Private CC is a strong competitor to premium cards after its recent revaluation. 💡

Time taken a toll, NOW spending 💰 gives more rewards than saving....