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 🥂

 

[Digital_Panda]

I agree, but I have kept millenia as backup just in case cashback gets significantly devalued in future. Also it's my oldest card so it's better to keep it active.

Brother Can You Please Tell me Which Email ID You sent mail to for making SBI Cashback Card LTF?

 

[DJ1234]

@TechnoFino sir could you please share the name of those credit cards which allows business spends?

 

[sxchzy]

amex allows
indusind allows

 

[Vasuki]

@TechnoFino sir could you please share the name of those credit cards which allows business spends?

Why will one Dig own grave 😂..
He already said some high HNi card allows .
Because your limit are high like 5-10 lakh
Even if u spend 3-6 lakh month on repeated transaction. They are already aware it will happen .
Ofc if ur cc spends cross 10 lakh per card a year .. you will have to justify ..
Untill and unless
You are doing 18 lakh transaction on Flipkart axis credit card.. 😂 u won't get income tax call.

You should ask ? What kinda spend you do and how u can maximize on that category spend
Because none can exactly say business or personal untill its 10x repetitive within month.

 

[the_dark_knight]

Brother Can You Please Tell me Which Email ID You sent mail to for making SBI Cashback Card LTF?

Another one from the panda universe.
Meet your variants @S S V @Akashn @ProsperousPanda

 

[PREMPATEL12]

Why will one Dig own grave 😂..
He already said some high HNi card allows .
Because your limit are high like 5-10 lakh
Even if u spend 3-6 lakh month on repeated transaction. They are already aware it will happen .
Ofc if ur cc spends cross 10 lakh per card a year .. you will have to justify ..
Untill and unless
You are doing 18 lakh transaction on Flipkart axis credit card.. 😂 u won't get income tax call.

You should ask ? What kinda spend you do and how u can maximize on that category spend
Because none can exactly say business or personal untill its 10x repetitive within month.

Is it kind of compulsory that you will get a notification/capture your above 10 lacs spend in AIS? 100% of people are getting this in their AIS?

 

[iamdhamo]

How you get two hdfc core cards ?

Does it add value to have both infinia and DCb?

 

[Vasuki]

Is it kind of compulsory that you will get a notification/capture your above 10 lacs spend in AIS? 100% of people are getting this in their AIS?

Things is your salary is 15-20lakh or even 10 lakh .
You can always justify that and usually not asked by Income tax notice
But u have income of 3-5 lakh & u spent 10-15 lakh on cards of same

 

[nrj1007]

Does it add value to have both infinia and DCb?

No unless you have DCB LTF.

 

[the_dark_knight]

Things is your salary is 15-20lakh or even 10 lakh .
You can always justify that and usually not asked by Income tax notice
But u have income of 3-5 lakh & u spent 10-15 lakh on cards of same

This rules are mainly for capturing imran khan like people.
People who are mostly not salaried and having high net worth and profitable businesses yet not filing ITR or declaring very less income.
IT Dept mainly targets these people via these tracking
No point in over extracting juice from the average salaried tax payers, they very well know this will backfire unto them

 

[Vasuki]

This rules are mainly for capturing imran khan like people.
People who are mostly not salaried and having high net worth and profitable businesses yet not filing ITR or declaring very less income.
IT Dept mainly targets these people via these tracking
No point in over extracting juice from the average salaried tax payers, they very well know this will backfire unto them

Yup thats the point 👉..
If ur itr is high it won't be flagged or a concern

 

[gg123]

How many credit cards I have added in 2023 and how many I have closed?
Started my journey in 2023 March.
Added ICICI platinum, Axis ACE, Axis Select, ICICI Coral Rupay, Amex Gold Charge

The amount of rewards you managed to earn?
Pure cash back- 5500 , ICICI RP - 4043 , Edge points - 23k , MR points - 16.5k

Your memorable purchase using a credit card?
Just a high end Overear headphones

The trips you completed using credit card points?
None.

Plan for 2024
Get a travel centric card and probably try to contribute my flight fare via those points

Which credit card did you use mainly?
Axis ACE , ICICI plat , Axis Select

 

[drabhishekladdha]

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 🥂

Wow
My journey is oppiste to you
I had 12 cards now 5
Added anex plat and MRCC ( will close second one )
So should have 4 cards from 12 by next year

 

[D₹V]

Kitna spends manifacture kiya?

Kitne loophole exploit kiye?

yeh sab jaane wali baat hao

Tum apna share crow

 

[techt]

Wow
My journey is oppiste to you
I had 12 cards now 5
Added anex plat and MRCC ( will close second one )
So should have 4 cards from 12 by next year

Great 👏 👏 👏 even I am going in lean mode. Have 6, going to close 2.

 

[sxchzy]

Tum apna share crow

8L mobikwik dono loophole se
2-3 L branch X
1L Paytm via 3 rd party wallet

 

[Survivor35]

How many credit cards I have added in 2023 and how many I have closed?
I have 9 active cards (in 2023 got au zenith,indus legend/pinnacle(shared limit),same goes for icici coral rupay/rubyx(shared limit on existing cards)

The amount of rewards you managed to earn?
17k

Your memorable purchase using a credit card?
None


The trips you completed using credit card points?
None.

Plan for 2024

Stable income(2023 has been a biggest blot in my life,learnt never to trust anyone with regards to monetary terms.Lost 27L so current focus is to clear that).

Consolidation of existing CC and get it upgraded.(ICICI and Citi have me stuck bottom rung)

IDFC Wealth CC/Bank account

Axis Burgundy Account

BOB Eterna.

Which credit card did you use mainly?
Au Zenith,Icici Coral