Which card to use for Advance Tax Payment

[techt]

I was frankly surprised to see the rewards for government MCC payment. I have received it although I am yet to use it.

aren't these rewards statement adjusted similar to wealth CC ?

 

[GBajaj]

Could you please be more specific.
PG charges ? The levels of DC ? I mean IDFC has slabs of wealth cc like below 30K it's 1.5% and 2.5% later on. similarly for wealth DC what is it ?

No PG charges using DC. Slab till 50K spend is 0.25%. Over 50K is 10x (like CC but with higher threshold).

 

[techt]

No PG charges using DC. Slab till 50K spend is 0.25%. Over 50K is 10x (like CC but with higher threshold).

So DC whether it is online or offline, 0.25% for first 50K ?

 

[GBajaj]

aren't these rewards statement adjusted similar to wealth CC ?

No. They get accumulated and never expire. Upto us when we want to redeem

 

[techt]

No. They get accumulated and never expire. Upto us when we want to redeem

Cash redemption available ? If so any charges ..

 

[GBajaj]

So DC whether it is online or offline, 0.25% for first 50K ?

Yes, I use DC for some other spends which I get milestone benefits so this compensates for the lower reward till 50K

 

[GBajaj]

Cash redemption available ? If so any charges ..

I believe redemption charge is fixed 99+GST. I see redemption can be against Amazon vouchers at 0.25% apart from a few other less attractive options.

 

[SSV]

Cash redemption available ? If so any charges ..

Yes, I use DC for some other spends which I get milestone benefits so this compensates for the lower reward till 50K

@techt , now you want this card asap !! Isn’t it

 

[techt]

@techt , now you want this card asap !! Isn’t it

ASAP never for CCs or DCs, I take time in analyzing further.

 

[techt]

Only instance I took an instant decision was for SBI CB on its launch day.

 

[Pravas]

Please update the actual benefits you received soon

Paid : 126704
PG Charges: 1194
6X points now showing: 7674
I think rest 4X for above 30K will be given at the time of bill generation or month end.

 

[Pravas]

Where are you getting 1% CB on 1.2L bill? Using paytm?

You can split the bill between portals. I do it in this order.

HDFC Platinum DC in HDFC bill pay : 75K
RBL signature+ in cred : 1L
Indus select visa via Paytm : 1.125 L
I have select MC but never tried till now

 

[techt]

Yes, I use DC for some other spends which I get milestone benefits so this compensates for the lower reward till 50K

One more question, can we pay any cc bills with IDFC wealth debit card?

 

[GBajaj]

One more question, can we pay any cc bills with IDFC wealth debit card?

Haven't tried this yet. Wary of 3rd party sites in making credit card bill payments. Getting spammed enough already with robo/unsolicited calls and offers.. Any recommendations on how to best pay credit card bills?

 

[techt]

Haven't tried this yet. Wary of 3rd party sites in making credit card bill payments. Getting spammed enough already with robo/unsolicited calls and offers.. Any recommendations on how to best pay credit card bills?

I use Cred, Cheq, PayTM for paying CC bills by DC. You can try and let us know if it is rewarding.

BTW, IDFC wealth DC reward rate is not on the same lines with IDFC wealth CC.

For IDFC wealth DC, points earned are per 150rs.
So, for online 4x rewards upto 50K and 10x later on. means
4x = 4*0.25*100/150 = 0.66%
10x = 10*0.25*100/150 = 1.66%

Whereas for wealth CC it would be 1.5% till 30K and 2.5% later on.

 

[Pravas]

I use Cred, Cheq, PayTM for paying CC bills by DC.

BTW, IDFC wealth DC reward rate is not on the same lines with IDFC wealth CC.

For IDFC wealth DC, points earned are per 150rs.
So, for online 4x rewards upto 50K and 10x later on. means
4x = 4*0.25*100/150 = 0.66%
10x = 10*0.25*100/150 = 1.66%

Whereas for wealth CC it would be 1.5% till 30K and 2.5% later on.

So no point pursuing wealth account as of now. I was about to do it.

 

[techt]

So no point pursuing wealth account as of now. I was about to do it.

Wealth CC and DC are almost same wrt reward rate for this tax portals. Assuming PG charges of ~1% . CC earns 1.5-1 = 0.5 and 2.5-1 = 1.5% on par with DC.

Still IDFC wealth account can be considered for

1. Forex remittance - some said it is on par with IoB.
2. Free locker - no info on their experience
3. If it rewards CC bill payment via DC we can double dip.

 

[Pravas]

Wealth CC and DC are almost same wrt reward rate for this tax portals. Assuming PG charges of ~1% . CC earns 1.5-1 = 0.5 and 2.5-1 = 1.5% on par with DC.

Still IDFC wealth account can be considered for

1. Forex remittance - some said it is on par with IoB.
2. Free locker - no info on their experience
3. If it rewards CC bill payment via DC we can double dip.

I can get 1% more while paying the credit card bill. Already have enough DCs to pay CC bill, so right now I see no point to get the wealth DC and account.

 

[techt]

I can get 1% more while paying the credit card bill. Already have enough DCs to pay CC bill, so right now I see no point to get the wealth DC and account.

Yeah I too get 1% on DC but most have a limit of 750-1000 INR per month. But this has really high limit

FIRST Rewards

www.firstrewards.com

FIRST Rewards

www.firstrewards.com

Wealth DC has a limit of 50K point limit which is approximately 10K+ INR.
But I am not sure if they can be redeemed for cash. Those links point to vouchers and they are okish.

 

[leonneel]

Yeah I too get 1% on DC but most have a limit of 750-1000 INR per month. But this has really high limit

FIRST Rewards

www.firstrewards.com

FIRST Rewards

www.firstrewards.com

Wealth DC has a limit of 50K point limit which is approximately 10K+ INR.
But I am not sure if they can be redeemed for cash. Those links point to vouchers and they are okish.

They have amazon voucher so it's good enough.