Credit card recommendations prior to quitting job

[abby]

I am quitting my job and taking a break for atleast a year. However, i expect my expenses to continue around 3 lakhs a month. Currently have hdfc diners (plastic), magnus, axis vistara, SBI cashback. I wanted to make sure I apply for any recommended cards which I currently don't have, prior to me quitting (using my current salary slip).Any suggestions for must have cards I should apply for (preferably FYF or LTF) before I quit.

 

[aayusharyan]

Which bank you have your salary account with? Make sure it's 0MAB unconditional. Some banks will convert salary to normal account if salary deposit doesn't happen in a quarter.

Also, regarding CC, you have good ones. Maybe the card with bank with which you have salary account might be helpful. Depends on the bank.

 

[aayusharyan]

And all the best for next chapter in your life. 😉

 

[bigbrain]

It depends on how you like the returns to be I.e. cash back or gift voucher or hotel/airline loyalty points.
Also where do you spend? Offline or online or spend heavy off gyftr portal. With a 3 lakh monthly I guess you will have spends in every categories.
I see you don’t have any amex in your portfolio. Maybe a good addition if you are looking for Marriott points.
Trying getting your DCB upgraded to infinia.

And all the best for your next phase of life.

 

[RAMESH BABU N]

Having 4 good cards is enough. Ask (n insist) all of them to get converted to LTF.

The combined limit on these 4 cards must at least be at 10x-12x of your monthly expenses. If not ask for LEs. Getting LEs based on your past usage is relatively much easier.

Instead of focusing on acquiring new cards, focus on the fail proof arrangement you made for monthly CC bill payments during your sabbatical. All the best in fulfilling your plans.

 

[abby]

Which bank you have your salary account with? Make sure it's 0MAB unconditional. Some banks will convert salary to normal account if salary deposit doesn't happen in a quarter.

Also, regarding CC, you have good ones. Maybe the card with bank with which you have salary account might be helpful. Depends on the bank.

Have an ICICI account and have been able to make it zero balance account.. never been fond of ICICI cards but let me see if I can score a ltd card

 

[sankar7000]

Does HDFC Infina CC gets revoked post quitting your job automatically or no?

 

[abby]

It depends on how you like the returns to be I.e. cash back or gift voucher or hotel/airline loyalty points.
Also where do you spend? Offline or online or spend heavy off gyftr portal. With a 3 lakh monthly I guess you will have spends in every categories.
I see you don’t have any amex in your portfolio. Maybe a good addition if you are looking for Marriott points.
Trying getting your DCB upgraded to infinia.

And all the best for your next phase of life.

Yes.. the spends are across categories.. looking for most of value out of cards leaning towards travel/ points. Will check amex..

 

[abby]

Having 4 good cards is enough. Ask (n insist) all of them to get converted to LTF.

The combined limit on these 4 cards must at least be at 10x-12x of your monthly expenses. If not ask for LEs. Getting LEs based on your past usage is relatively much easier.

Instead of focusing on acquiring new cards, focus on the fail proof arrangement you made for monthly CC bill payments during your sabbatical. All the best in fulfilling your plans.

Good point and thanks for the wishes!!

 

[abby]

Does HDFC Infina CC gets revoked post quitting your job automatically or no?

I don't think so.. once you get a card they never ask for salary slip again

 

[RAMESH BABU N]

Banks usually do not disturb CC customer till :

1. KYC dox needs updation - once in 3 years

2. Some default by customers

3. Some complaint/escalation from customer

4. Existing CC is being withdrawn

 

[SSV]

I am quitting my job and taking a break for atleast a year. However, i expect my expenses to continue around 3 lakhs a month. Currently have hdfc diners (plastic), magnus, axis vistara, SBI cashback. I wanted to make sure I apply for any recommended cards which I currently don't have, prior to me quitting (using my current salary slip).Any suggestions for must have cards I should apply for (preferably FYF or LTF) before I quit.

Get
1) IDFC Wealth
2) ICICI Apay
3) AU LIT

All LTF

 

[D₹V]

Does HDFC Infina CC gets revoked post quitting your job automatically or no?

N o o

 

[bonheur]

Does HDFC Infina CC gets revoked post quitting your job automatically or no?

Good question. A similar hypothetical question I have is, do existing credit cards get renewed after the age of 60/65 etc, if the retired person is still able to sustain regular payments through pensions/other savings?

 

[Slayer]

N o o

Peak Neo/Buzz moment

 

[imdjay]

Good question. A similar hypothetical question I have is, do existing credit cards get renewed after the age of 60/65 etc, if the retired person is still able to sustain regular payments through pensions/other savings?

My father who is the same age, got a pre-approved credit card offer from BOI.

 

[aayusharyan]

My father who is the same age, got a pre-approved credit card offer from BOI.

How is your father's relationship with BOI? I am assuming Decades of banking?
Because I think for NTB applications, some banks have like upper age limit also.

 

[Slayer]

How is your father's relationship with BOI? I am assuming Decades of banking?
Because I think for NTB applications, some banks have like upper age limit also.

Most likely having 2-3 Cr worth of FDs

 

[CARDBITRAGE]

Good question. A similar hypothetical question I have is, do existing credit cards get renewed after the age of 60/65 etc, if the retired person is still able to sustain regular payments through pensions/other savings?

Yes. My family members still hold several CCs(even super-premium cards) though they are senior citizens.

 

[D₹V]

Peak Neo/Buzz moment

True but had to reply/help him irrespective of his account level.