2023 Credit Card Review: Milestones, Achievements, and Plans for 2024

[TechnoFino]

Hello TFCians,

It's December 25, 2023. We are just 6 days away from 2024. 2023 was full of action when it comes to credit cards. We have seen many credit cards go from being one of the best in India to almost useless, and we have also witnessed some extraordinary credit card launches in 2023. Let's discuss some personal milestones for the year, such as how many credit card accounts you opened, how many you closed, the amount of rewards you managed to earn (if you are comfortable sharing), the best deal you enjoyed using a credit card, which credit card you mainly use, your memorable purchase using a credit card, the trips you completed using credit card points, and your plans for 2024.

Let me share mine:

How many credit cards I have added in 2023 and how many I have closed?
I had 42 credit cards back in December 2022, and now I have 57, and closed 8 credit cards, so I have added 23 new credit cards in 2023.

The amount of rewards you managed to earn?
Before closing my Axis Magnus and Reserve, I managed to accumulate approximately 27.10 Lakhs EDGE Points in 2023. Accumulated Approximately 10 Lakhs MR Points in 2023. Accumulated 2.23 Lakhs ICICI Bank Credit Card reward points. Managed to get 2.8 Lakhs HDFC Infinia reward points. Managed to get 10 Lakhs Yes Private reward points. Also managed to get approx 1.58 Lakhs CV Points, 4 Business class tickets, and 4 Premium Economy class tickets using Vistara co-branded cards.

Your memorable purchase using a credit card?
Purchased a car using a credit card without paying any MDR fees.

The trips you completed using credit card points?
Almost all my domestic flights and hotels were sponsored by credit card rewards in 2023. All were mainly business/work trips. Took 28 flights in 2023, all were domestic flights.

Plan for 2024
Have booked 3 international trips so far, planning to visit 7 to 8 countries in 2024. And the main plan is to accumulate more rewards in 2024 than in 2023.

Which credit card did you use mainly?
I mainly used Axis Reserve, Magnus, Atlas, HDFC Infinia, Yes Private, ICICI Emeralde, Amex Plat Travel, MRCC, Gold Charge, SBI Cashback, SBI Vistara Prime, Axis Vistara Infinite, and maybe a few more cards.

Don't forget to share your yearly review!



Merry Christmas 🎄 & Happy New Year 2024
Cheers 🥂

 

[simplegarv]

Utilising card smartly is the key 🔐
and without business spending, accumulating such reward is not possible. few top of the line cards do allow business spends.

Kindly mention them namewise... Please 🙏

 

[CardGame]

I already met him and got my infinia

For me, getting MRCC without any docs itself felt like getting an infinia. Being self-employed with less ITR plays football in my CC journey 🤒

 

[CardGame]

Kindly mention them namewise... Please 🙏

I see where you are going 😅

 

[Avatar Aang]

Hello TFCians,

It's December 25, 2023. We are just 6 days away from 2024. 2023 was full of action when it comes to credit cards. We have seen many credit cards go from being one of the best in India to almost useless, and we have also witnessed some extraordinary credit card launches in 2023. Let's discuss some personal milestones for the year, such as how many credit card accounts you opened, how many you closed, the amount of rewards you managed to earn (if you are comfortable sharing), the best deal you enjoyed using a credit card, which credit card you mainly use, your memorable purchase using a credit card, the trips you completed using credit card points, and your plans for 2024.

Let me share mine:

How many credit cards I have added in 2023 and how many I have closed?
I had 42 credit cards back in December 2022, and now I have 57, and closed 8 credit cards, so I have added 23 new credit cards in 2023.

The amount of rewards you managed to earn?
Before closing my Axis Magnus and Reserve, I managed to accumulate approximately 27.10 Lakhs EDGE Points in 2023. Accumulated Approximately 10 Lakhs MR Points in 2023. Accumulated 2.23 Lakhs ICICI Bank Credit Card reward points. Managed to get 2.8 Lakhs HDFC Infinia reward points. Managed to get 10 Lakhs Yes Private reward points. Also managed to get approx 1.58 Lakhs CV Points, 4 Business class tickets, and 4 Premium Economy class tickets using Vistara co-branded cards.

Your memorable purchase using a credit card?
Purchased a car using a credit card without paying any MDR fees.

The trips you completed using credit card points?
Almost all my domestic flights and hotels were sponsored by credit card rewards in 2023. All were mainly business/work trips. Took 28 flights in 2023, all were domestic flights.

Plan for 2024
Have booked 3 international trips so far, planning to visit 7 to 8 countries in 2024. And the main plan is to accumulate more rewards in 2024 than in 2023.

Which credit card did you use mainly?
I mainly used Axis Reserve, Magnus, Atlas, HDFC Infinia, Yes Private, ICICI Emeralde, Amex Plat Travel, MRCC, Gold Charge, SBI Cashback, SBI Vistara Prime, Axis Vistara Infinite, and maybe a few more cards.

Don't forget to share your yearly review!

Merry Christmas 🎄 & Happy New Year 2024
Cheers 🥂

How many times did you replace your reserve card? What % is business spends? Approx. What were the total spends?

 

[sxchzy]

How many times did you replace your reserve card?

kam se kam 10 -20 bar kiya hoga
edge rps se andaza lagao

What % is business spends? Approx. What were the total spends?

 

[TechnoFino]

How many times did you replace your reserve card? What % is business spends? Approx. What were the total spends?

Bro... Axis reversed all the EDGE points that were accumulated through the replacement trick.

 

[Deleted member 9785]

eventually banks are winning the battle by trapping people in loans. People with 20 lac plus income acting dumb

Just need to maintain discipline in cc market



Hi,

This year was the worst year of my life. I saw a lot of setbacks in my personal life and professional life this year and then I lost 30L rupees in a scam.

This was a lot of my stupidity too. I took around 9 personal loans from different personal loan mobile apps and used my credit cards to the max hoping I will make some money in e-commerce and foreclose the loans from apps in a month or two. But a guy scammed me from China and I lost 29 lakhs in a day.

Now my situation is - my salary is 1.5 Lakh per month. I have a homelone with a EMI of 40K. Rest I have these 9 loans from apps and 3 credit cards which has a total debt of 27lakhs and now my monthly emi for all of this is way more than my salary. All these loan apps and credit card has very high interest rates.

I am in this situation since 2 months now where i am paying more emi's then my salary asking my family for money. I have managed till now and no EMI has bounced but i think i won't be able to manage after 1-2 months.

I was trying to get a big loan of around 25lakhs from a proper bank with a better interest rate so I can close all the app loans and credit card and just pay one EMI. That should be within my salary. But since my Cibil is now showing all these 9 loans and credit cards and my recent loan inquiries are also very high, no bank is giving me a loan because my account is overleveraged and my loan inquiries are so many in the recent days.

I tried contacting some private finance people but nobody i found that can help me here. I think if a private finance company can loan me around 25lakh for 3 months so that I can clear all these app loans and clear my Cibil, I can then contact a bank again for a bigger personal loan which should be easily approved. I can then close the loan from the private finance company and pay the bank a single EMI. But i can't find any such company.

Now I feel all my doors are closed and I don't see a way out of this. Can anyone suggest what could be a way out of this? Thank you!

 

[Farhad sekh]

eventually banks are winning the battle by trapping people in loans. People with 20 lac plus income acting dumb

Just need to maintain discipline in cc market



Hi,

This year was the worst year of my life. I saw a lot of setbacks in my personal life and professional life this year and then I lost 30L rupees in a scam.

This was a lot of my stupidity too. I took around 9 personal loans from different personal loan mobile apps and used my credit cards to the max hoping I will make some money in e-commerce and foreclose the loans from apps in a month or two. But a guy scammed me from China and I lost 29 lakhs in a day.

Now my situation is - my salary is 1.5 Lakh per month. I have a homelone with a EMI of 40K. Rest I have these 9 loans from apps and 3 credit cards which has a total debt of 27lakhs and now my monthly emi for all of this is way more than my salary. All these loan apps and credit card has very high interest rates.

I am in this situation since 2 months now where i am paying more emi's then my salary asking my family for money. I have managed till now and no EMI has bounced but i think i won't be able to manage after 1-2 months.

I was trying to get a big loan of around 25lakhs from a proper bank with a better interest rate so I can close all the app loans and credit card and just pay one EMI. That should be within my salary. But since my Cibil is now showing all these 9 loans and credit cards and my recent loan inquiries are also very high, no bank is giving me a loan because my account is overleveraged and my loan inquiries are so many in the recent days.

I tried contacting some private finance people but nobody i found that can help me here. I think if a private finance company can loan me around 25lakh for 3 months so that I can clear all these app loans and clear my Cibil, I can then contact a bank again for a bigger personal loan which should be easily approved. I can then close the loan from the private finance company and pay the bank a single EMI. But i can't find any such company.

Now I feel all my doors are closed and I don't see a way out of this. Can anyone suggest what could be a way out of this? Thank you!

Can u share
How the china person scammed you 29L?

 

[cardio_guy]

Congrats on the great achievement of using credit cards. This is the real power of social media and influencer life.
The true potential of referral reward points.
I think I will not achieve in my full lifetime the number of points and rewards you got in 1 year !!
It's amazing to be a social media influencer and that too in such a niche area of credit cards. Excellent.
Congrats and wish you all the very best for a wonderful new year 2024 !!

These are my answers -

How many credit cards I have added in 2023 and how many I have closed?
Added 2 - ICICI Sapphiro Visa and Coral Rupay. Both LTF.
Closed 3 - Federal Imperio, Axis Indian Oil and Tata Neu Plus. All LTF.

The amount of rewards you managed to earn?
Around Rs 13000 using Amazon pay ICICI. I haven't started earning any points using other cards.

Your memorable purchase using a credit card?
None.

The trips you completed using credit card points?
None.

Plan for 2024
I wish to get HDFC Tata Neu infinity, HDFC Swiggy, and Federal Celesta.

Which credit card did you use mainly?
ICICI Amazon Pay.

Thanks.

 

[coolguy1]

Congrats on the great achievement of using credit cards. This is the real power of social media and influencer life.
The true potential of referral reward points.
I think I will not achieve in my full lifetime the number of points and rewards you got in 1 year !!
It's amazing to be a social media influencer and that too in such a niche area of credit cards. Excellent.
Congrats and wish you all the very best for a wonderful new year 2024 !!

These are my answers -

How many credit cards I have added in 2023 and how many I have closed?
Added 2 - ICICI Sapphiro Visa and Coral Rupay. Both LTF.
Closed 3 - Federal Imperio, Axis Indian Oil and Tata Neu Plus. All LTF.

The amount of rewards you managed to earn?
Around Rs 13000 using Amazon pay ICICI. I haven't started earning any points using other cards.

Your memorable purchase using a credit card?
None.

The trips you completed using credit card points?
None.

Plan for 2024
I wish to get HDFC Tata Neu infinity, HDFC Swiggy, and Federal Celesta.

Which credit card did you use mainly?
ICICI Amazon Pay.

Thanks.

I think it's not as fancy as it sounds.

Edge points can't be earned using referrals but Sumanta still managed to earn 27L of them. That shows his approximate spends.
Considering a 10% earn rate, that's ₹2.7 crore worth of spends. Influencers don't make that kind of spends, entrepreneurs do.

He earned 10L MR points, while the most you can earn from a referral on a card is 1.25L, let's say even if he maxes out 3 cards(most possible), that's still 3.7L points. For the remaining 6.3L MR points, he will have to spend ₹1.2 crore worth considering a 5% reward rate.

If you can spend ₹4 crores, you can earn such points too!

Obviously, being a voice of the community helps but we need to focus and appreciate more of his entrepreneurship journey!

 

[techt]

Also add a disclaimer
These stunts are performed by trained professionals, try at your own risk.

People who try to mimic you will definitely destroy themselves financially and mentally.

 

[abhiver]

Also add a disclaimer
These stunts are performed by trained professionals, try at your own risk.

People who try to mimic you will definitely burn his/her fingers.

So True. Spending of 4 cr on credit card, need to have a good amount of financial backup support to pay those CC bills without any defaults.

 

[SSV]

Also add a disclaimer
These stunts are performed by trained professionals, try at your own risk.

People who try to mimic you will definitely burn his/her fingers.

If it stops at fingers it would be a miracle…
It would more likely burn the whole body for the most

 

[techt]

If it stops at fingers it would be a miracle…
It would more likely burn the whole body for most

Yes agreed and updated the post accordingly

 

[SSV]

Also add a disclaimer
These stunts are performed by trained professionals, try at your own risk.

People who try to mimic you will definitely destroy themselves financially and mentally.

Yes agreed and updated the post accordingly

Actually there is no need for anyone to mimic anyone else..
Everybody is like a King on their own.. that is how we should all feel..
Everyone is unique and have unique needs , we should learn from others to make our life better…

 

[ssnthegenius]

Mix or business and personal spends... you can not earn such high numbers of reward points without business spends, few top of the line personal cards also allow you to make some business expenses.

Car I purchased, hyundai venue sx knight edition. I just asked them to accept payment via credit card and they did without asking for MDR 😁


Will make best credit card 2024 video first, then best and worst card launch of 2023 😄

Which card did you use to purchase the car? How much benifit did you get using the same? Do share dada..

 

[techt]

Actually there is no need for anyone to mimic anyone else..

And this is a hard truth which many don't understand.

 

[vijay.vj]

How many credit cards I have added in 2023 and how many I have closed?
Added 12 - ICICI Sapphiro MC+Amex LTF, ICICI Rubyx Visa LTF, IDFC Wealth LTF, Indus Legend LTF, Indus Pinnacle LTF, Axis Airtel Paid, SBI SimplyCLick Paid, Kotak League LTF, RBL Shoprite Paid (mis sold for RBL world Safari LTF), HSBC Cashback paid, HDFC Regalia gold LTF
Closed 1 - Axis Flipkart paid.

The amount of rewards you managed to earn?
Around 20k from Amazon ICICI
Around 2k from Axis Flipkart

I'm not a heavy spender

Your memorable purchase using a credit card?
None.

The trips you completed using credit card points?
None.

Plan for 2024
I wish to get HDFC Tata Neu infinity LTF, ICICI emeralde LTF, and may be HDFC Infinia LTF.

Which credit card did you use mainly?
ICICI Amazon Pay.

 

[imdjay]

Hello TFCians,

It's December 25, 2023. We are just 6 days away from 2024. 2023 was full of action when it comes to credit cards. We have seen many credit cards go from being one of the best in India to almost useless, and we have also witnessed some extraordinary credit card launches in 2023. Let's discuss some personal milestones for the year, such as how many credit card accounts you opened, how many you closed, the amount of rewards you managed to earn (if you are comfortable sharing), the best deal you enjoyed using a credit card, which credit card you mainly use, your memorable purchase using a credit card, the trips you completed using credit card points, and your plans for 2024.

Let me share mine:

How many credit cards I have added in 2023 and how many I have closed?
I had 42 credit cards back in December 2022, and now I have 57, and closed 8 credit cards, so I have added 23 new credit cards in 2023.

The amount of rewards you managed to earn?
Before closing my Axis Magnus and Reserve, I managed to accumulate approximately 27.10 Lakhs EDGE Points in 2023. Accumulated Approximately 10 Lakhs MR Points in 2023. Accumulated 2.23 Lakhs ICICI Bank Credit Card reward points. Managed to get 2.8 Lakhs HDFC Infinia reward points. Managed to get 10 Lakhs Yes Private reward points. Also managed to get approx 1.58 Lakhs CV Points, 4 Business class tickets, and 4 Premium Economy class tickets using Vistara co-branded cards.

Your memorable purchase using a credit card?
Purchased a car using a credit card without paying any MDR fees.

The trips you completed using credit card points?
Almost all my domestic flights and hotels were sponsored by credit card rewards in 2023. All were mainly business/work trips. Took 28 flights in 2023, all were domestic flights.

Plan for 2024
Have booked 3 international trips so far, planning to visit 7 to 8 countries in 2024. And the main plan is to accumulate more rewards in 2024 than in 2023.

Which credit card did you use mainly?
I mainly used Axis Reserve, Magnus, Atlas, HDFC Infinia, Yes Private, ICICI Emeralde, Amex Plat Travel, MRCC, Gold Charge, SBI Cashback, SBI Vistara Prime, Axis Vistara Infinite, and maybe a few more cards.

Don't forget to share your yearly review!

Merry Christmas 🎄 & Happy New Year 2024
Cheers 🥂

Share your round figure ITR.

 

[raghu.rokda]

I think it's not as fancy as it sounds.

Edge points can't be earned using referrals but Sumanta still managed to earn 27L of them. That shows his approximate spends.
Considering a 10% earn rate, that's ₹2.7 crore worth of spends. Influencers don't make that kind of spends, entrepreneurs do.

He earned 10L MR points, while the most you can earn from a referral on a card is 1.25L, let's say even if he maxes out 3 cards(most possible), that's still 3.7L points. For the remaining 6.3L MR points, he will have to spend ₹1.2 crore worth considering a 5% reward rate.

If you can spend ₹4 crores, you can earn such points too!

Obviously, being a voice of the community helps but we need to focus and appreciate more of his entrepreneurship journey!

Yaha Cr mai baat ho rahi hai..

Mene to apni life mai ek hi “cr”dekha hai
In credit card statement only😟