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Idfc wealth debit and credit cards both give good lounge access

Yes, FD is counted. When I created the acct in t2 city, requirement was to keep trv of 5 lakh +. I hear it is 10lakh now.

It is illegal to keep resident accounts as an NRI. With all systems getting integrated it becomes easy for it department to identify such violators. Lastly ignorance of the law is not a valid excuse.

I would suggest to check with bank relationship mgr. You will have to contact them to get your accounts converted to nro anyway. Better check this as well. Pls report here when you find out.

For banks you have savings acct with, you need to convert from resident to non resident accounts. That is mandatory. So some banks definitely will know. Not sure what implications it has on existing credit cards.. I assume the cards stay with you and upon renewal new cards will be issued which...

Well, not always. I got a wealth first cc just on the basis two factors: a. another credit card with over 5 lakh credit limit b. Already have a wealth savings account (need 5 lakh + balance) They didn't ask for salary slips or ITR details or anything else.

Right that's just BAU and not a devaluation though.. I the OP said some devaluation starting March.

Lol, thanks.. I should have worded better. I meant to ask what are the changes in tnc regards to rewards in foreign transactions. For Magnus it is 5 points per 200 Rs spent. Starting March, what is the devaluation?

Can you pls explain what devaluation is on the cards?

Axis reserve is hands down the best for international spends. Fees is 50k + GST but you get 2x the regular points I.e. 24 edge rewards points per 200 Rs spent. Fx markup is 1.5% Second best imo is magnus if you are able to spend 100k Rs per month to reach the milestone to receive 31k edge...

Lol yeah, I was not expecting so many responses when I created the post.

Always choose the local currency. Why? One less conversion hence lesser fees.

Thank you for confirming. Cheers!

My thoughts too and hence this post. So far haven't heard anything that contradicts this assumption.

Thanks, these allay a lot of my fears.. did you use magnus as your primary mode of payment? If so, any final thoughts?

Thanks for the concern man. I totally agree spending for the sake of spending is not a good idea. Yes, the trip spans across 2 calendar months. However right now I am just understanding how things work so I can optimize the spends. Niyo global card looks good as well no markup fee but yet...

Thanks for the detailed reply. I have already booked all I could anticipate. Only local shopping, day to day expenses remain. I am only thinking about using the credit card for the milestone benefit magnus offers for reaching 100k spend per month. 5k Rs for 50k edge points seems like a...

I am planning a trip abroad and don't want a hassle of a forex card. Assuming I will spend close to 200k inr, and I have an Axis magnus cc (2% forex markup fee) should I just swipe my Magnus, choose the txn currency as local currency and go about the shopping? How do banks (axis or others)...

I am planning a trip abroad and don't want a hassle of a forex card. Assuming I will spend close to 200k inr, and I have an Axis magnus cc (2% forex markup fee) should I just swipe my Magnus, choose the txn currency as local currency and go about the shopping? How do banks (axis or others)...

Do any of these options allow payment via credit card? I thought barring nps no other investments are possible by credit cards.