Card suggestion for 3 lakh monthly Insurance spend

[Virgo]

Hi all, I have monthly insurance spends of 3 lakh (3 policies with 1 lakh premium) besides my other household expenses. I hold Axis Magnus, Amex Plat Charge, SC Ultimate and Diners Black (besides others). Previously, I used to buy Amazon Pay GV from multiple places (Amazon itself, Amex Rewards Multiplier, Axis Grab Deals, SBI Yono Gyftr etc) to pay for my insurance premiums spread across various cardsI hold.

However, over a period of time, most of the avenues to buy Amazon Pay GVs have stopped or imposed restrictions. Last couple of months, i am loading payzapp via SC Ultimate and paying my premiums. Unfortunately, the voucher redemption options for Ultimate have deteriorated over the last 3-4 months (no Big basket or MMT or Croma vouchers available now).

Hence my request for suggestions for a new credit card which allows points for insurance spends. I know Magnus allows points for insurance spends of 1 lakh. But where to put my spends after 1 lakh of Magnus? Does Axis Atlas or Reserve make sense for insurance spends? Any restrictions on these cards for insurance?

Thanks in advance.

 

[kirtivardhan]

Hi All,

My father has insurance premium to pay next month for 5L and he has some other premiums also to pay of 3L twice and 2L once in this year. Which would be best cc for this payment ?

I have Axis Magnus but it won't give RP more than 6000 and it's not possible to divide this premium amount in multiple of 1L .

Have you tried reaching out to the insurer, I was able to get Tata AIA to split the payment across 3 trenches

 

[oneeightone]

Yes, the 5% coins are only available on making payment through Tata Pay section of Neu app. Any insurer not present in that list will not be eligible

as mentioned by @Virgo it has to be via Tata Neu App and applicable only to those vendors in the Bill payment categories where LIC is not there unfortunately

Hi @Virgo and @thegame - so I have to pay the premium for my ICICI Pru policy (25,000 premium) - and was thinking of doing so through the bill pay section of the Tata Neu app... however, I am unable to select my Tata Neu Infinity card in the payments option to make this premium payment.

Is there a way to pay premiums through the Tata Neu card? Will I still receive the 5% Neucoins cashback if I pay through some other method? Thanks a lot!

 

[thegame]

Hi @Virgo and @thegame - so I have to pay the premium for my ICICI Pru policy (25,000 premium) - and was thinking of doing so through the bill pay section of the Tata Neu app... however, I am unable to select my Tata Neu Infinity card in the payments option to make this premium payment.

Is there a way to pay premiums through the Tata Neu card? Will I still receive the 5% Neucoins cashback if I pay through some other method? Thanks a lot!

unfortunately Tata Neu are silently getting devaluated a lot, for bills 20k (tried Electricity/DTH) and above they have disabled CC and only options are UPI/netbanking/Debit cards... coming to Bill Payments neucoins, as per their Fair Usage T&Cs Infinity has a cap of 50k spends for 5% neucoins so in your case its of no use as anyways for above 20k bills there is no CC option but not sure if NeuPass will give 5% neucoins or no coins unless some one confirms
as I am not able to see their updated T&Cs as it shows the below message when I try to search for bill payments 😡

 

[oneeightone]

unfortunately Tata Neu are silently getting devaluated a lot, for bills 20k (tried Electricity/DTH) and above they have disabled CC and only options are UPI/netbanking/Debit cards... coming to Bill Payments neucoins, as per their Fair Usage T&Cs Infinity has a cap of 50k spends for 5% neucoins so in your case its of no use as anyways for above 20k bills there is no CC option but not sure if NeuPass will give 5% neucoins or no coins unless some one confirms
as I am not able to see their updated T&Cs as it shows the below message when I try to search for bill payments 😡

Thanks a lot for checking!

Yes it is really disappointing how it is getting devalued!!! I think it's time to move on from neu haha 😅

 

[rogerthat]

Thanks a lot for checking!

Yes it is really disappointing how it is getting devalued!!! I think it's time to move on from neu haha 😅

Yeah it is good only because of points for UPI payments. As soon as someone launches a better Rupay card or when all cards become eligible for payment through UPI QR Tata Neu is as good as dead.

 

[ffhhvcchnn]

Hi Everyone, I am going to spend around 6 lakh next month. Please suggest some credit card with best reward rate and Good Milestone benefits. The spend will be categorised as Other spend.

I'm Thinking of SBI ELITE which gives 0.5% valueback(Rs 3000) on 6 lakh and additional 35k milestone reward (Rs 8750) Total- Rs 11750.
2nd Option is 3 different SBI Simply Click Card - 1.25% valueback (Rs 7500) + Rs 4000 *3 Cleartrip Voucher. Total- Rs 19500

Please suggest for maximum valueback. I'm new here so please tag all credit card pro people, Let's see how much Ideas we get from different people.

 

[karanssh]

3 not 1

All ULIPs

I am going slightly off topic but all of them are terrible investments. If you have invested recently, consider cancelling them and not continuing.

 

[karanssh]

Hi Everyone, I am going to spend around 6 lakh next month. Please suggest some credit card with best reward rate and Good Milestone benefits. The spend will be categorised as Other spend.

I'm Thinking of SBI ELITE which gives 0.5% valueback(Rs 3000) on 6 lakh and additional 35k milestone reward (Rs 8750) Total- Rs 11750.
2nd Option is 3 different SBI Simply Click Card - 1.25% valueback (Rs 7500) + Rs 4000 *3 Cleartrip Voucher. Total- Rs 19500

Please suggest for maximum valueback. I'm new here so please tag all credit card pro people, Let's see how much Ideas we get from different people.

please consider making a separate post and not a comment on a thread for more visibility. Also list:
1. what cards you have?
2. looking for cb or rp?
3. do you know the mcc?

 

[ffhhvcchnn]

please consider making a separate post and not a comment on a thread for more visibility. Also list:
1. what cards you have?
2. looking for cb or rp?
3. do you know the mcc?

I have
SBI Elite, SBI Simply Click(2 different), SBI BPCL, SBI Paytm(499 version)
Axis Ace, Flipkart, Myzone
HDFC Millenia, Paytm
ICICI Coral

I'm Open to all Credit card Option as I will Arrange or get Approved if needed (Hope so)

2. Don't want hotel or Flight. Other than that Open to Shopping Vouchers and Cashbacks

3. I will be pre paying my NAVI personal Loan. and as of now they are giving reward points on CC payment. Don't know the MCC.

 

[ffhhvcchnn]

please consider making a separate post and not a comment on a thread for more visibility. Also list:
1. what cards you have?
2. looking for cb or rp?
3. do you know the mcc?

Website says I don't hav sufficient privilege to post thread. can you please tag few people

 

[soumendunanda]

@Virgo Is it possible to split your transactions in 1L components? Also in that case do you have magnus. I saw the following image shared in another forum. Check if it helps you.

Does this mean the per transaction capping is 1L or 1L total monthly?
I mean if i pay 1L,60k and 40k on insurance in same month i would get total 6k rp or 6k+3.6k+2.4k=12k rp?

 

[Rohith_Kumar_Sp]

Does this mean the per transaction capping is 1L or 1L total monthly?
I mean if i pay 1L,60k and 40k on insurance in same month i would get total 6k rp or 6k+3.6k+2.4k=12k rp?

Which app or website do you check this on?

 

[soumendunanda]

I

Which app or website do you check this on?

I don't actually remember,i saw it gives rp on upto 1L insurance but don't know wheather the capping is monthly or per transaction,check the previous sms i tagged

 

[Matirp]

Hi all, I have monthly insurance spends of 3 lakh (3 policies with 1 lakh premium) besides my other household expenses. I hold Axis Magnus, Amex Plat Charge, SC Ultimate and Diners Black (besides others). Previously, I used to buy Amazon Pay GV from multiple places (Amazon itself, Amex Rewards Multiplier, Axis Grab Deals, SBI Yono Gyftr etc) to pay for my insurance premiums spread across various cardsI hold.

However, over a period of time, most of the avenues to buy Amazon Pay GVs have stopped or imposed restrictions. Last couple of months, i am loading payzapp via SC Ultimate and paying my premiums. Unfortunately, the voucher redemption options for Ultimate have deteriorated over the last 3-4 months (no Big basket or MMT or Croma vouchers available now).

Hence my request for suggestions for a new credit card which allows points for insurance spends. I know Magnus allows points for insurance spends of 1 lakh. But where to put my spends after 1 lakh of Magnus? Does Axis Atlas or Reserve make sense for insurance spends? Any restrictions on these cards for insurance?

Thanks in advance.

Hi.... If it has not been replied yet ... More than ₹1 lakh... Use LIC signature card... 2% ch with no cap on lic... No headache. I can give referral if needed

 

[soumendunanda]

Hi.... If it has not been replied yet ... More than ₹1 lakh... Use LIC signature card... 2% ch with no cap on lic... No headache. I can give referral if needed

Thank you,but insurance is not from lic🥺

 

[Rohith_Kumar_Sp]

I

I don't actually remember,i saw it gives rp on upto 1L insurance but don't know wheather the capping is monthly or per transaction,check the previous sms i tagged

No, i mean where do you see the. Points and transaction? In mine I can't see in axis app.

 

[soumendunanda]

No, i mean where do you see the. Points and transaction? In mine I can't see in axis app.

Axis app then side 3- sign, then edge rp then transaction history

 

[Virgo]

Does this mean the per transaction capping is 1L or 1L total monthly?
I mean if i pay 1L,60k and 40k on insurance in same month i would get total 6k rp or 6k+3.6k+2.4k=12k rp?

Latter one applies. Max limit for points on Magnus is 6k per transaction. You can do multiple transactions and earn points on all subject to this cap per transaction

 

[Virgo]

Hi.... If it has not been replied yet ... More than ₹1 lakh... Use LIC signature card... 2% ch with no cap on lic... No headache. I can give referral if needed

It was already suggested in one of the previous reply. Insurance not from LIC. In any case, I took Reserve for these transactions.

 

[soumendunanda]

It was already suggested in one of the previous reply. Insurance not from LIC. In any case, I took Reserve for these transactions.

This applies to insurance also?mean i can get unlimited rp on insurence below 1L per transaction