Credit Card Portfolio

[gauravbhati]

For 6k fees on Samsung infinte u get 30k edge Reward point as welcome Benefit

For 1.7 k fees on previlgae u get 12.5 k edge Reward point as welcome Benefit ( 5k multi brand voucher exact )

Ohh ... got it

never seen such offer, where the reward given on joining fee is so 2-3x...

 

[Vasuki]

Ohh ... got it

never seen such offer, where the reward given on joining fee is so 2-3x...

Yooo o o

 

[dexter_greycells]

You are asking for ways to make Axis Ace LTF even when it has a spend-based waiver of Rs 2L a year and you have only 2 CCs. That seems to tell me that your annual CC bills don't or barely exceed Rs 2L. If that is true, then don't bother trying to build a 'Credit Card Portfolio' right now. It will gather dust and the time that will go into building it and most importantly maintaining it is better spent elsewhere (e.g. getting better at your job / business).

Axis Ace is the best all-rounder anyone can have. Specialists will get your more savings in a particular area but will fail spectacularly in other places. If you find you are missing out on 10% OFF offers too often only then get a paid SBI SimplyCLICK or SimpleSAVE, a paid HDFC Millennia / Regalia and a free Coral RuPay LTF from the ICICI iMobile app. That should cover all the bases. There is no shame in getting a paid card. That way you will always be evaluating whether you really need a given card or are getting enough value out of it.

 

[Lordkk]

Regardless u can get
Myntra kotak(3 yr free )
Idfc wealth (ltf)
Axis iocl( can be made ltf after some spending &6+ month

Sir, it looks like you are in love with either Axis or IOCL.

 

[Vasuki]

Sir, it looks like you are in love with either Axis or IOCL.

No i hate axis .
But Hdfc iocl card way worse 🥸..
So axis seems like lesser Villain

 

[bhavyakjain]

I am getting ICICI Saphhiro LTF. Should I go for it ?

 

[sidp]

I am getting ICICI Saphhiro LTF. Should I go for it ?

Why not? You have nothing to lose. Icici gives highest limit. So at least it can be used during offers and for c2c application.
Also it has bms bogo, & good lounge coverage.

 

[bhavyakjain]

You are asking for ways to make Axis Ace LTF even when it has a spend-based waiver of Rs 2L a year and you have only 2 CCs. That seems to tell me that your annual CC bills don't or barely exceed Rs 2L. If that is true, then don't bother trying to build a 'Credit Card Portfolio' right now. It will gather dust and the time that will go into building it and most importantly maintaining it is better spent elsewhere (e.g. getting better at your job / business).

Axis Ace is the best all-rounder anyone can have. Specialists will get your more savings in a particular area but will fail spectacularly in other places. If you find you are missing out on 10% OFF offers too often only then get a paid SBI SimplyCLICK or SimpleSAVE, a paid HDFC Millennia / Regalia and a free Coral RuPay LTF from the ICICI iMobile app. That should cover all the bases. There is no shame in getting a paid card. That way you will always be evaluating whether you really need a given card or are getting enough value out of it.

Thanks for your response

You are right, I don't have much CC spends.

I have been using CC for over 3 yrs but still very noob in the community, so please pardon me.

1. Is there any downsides to getting multiple LTF cards, even if I don't have any use for them? Not talking about Every card but atleast 1 decent card from major banks.

2.i might be wrong, but isn't getting multiple cards and thereby increasing my Total Credit Limit be a good thing to improve my CIBIL? I am planning to take our a home/auto loan in next year or so.

3. You never know when you might come across a good offer from a bank so wouldn't it be better to be prepared?

4. If I get any banks' basic card, after some time bank might offer me an upgrade or something. Although not sure if this would be the case for me since I would be barely using the card.

 

[dexter_greycells]

1. When you say 'Portfolio' it seems to suggest over a dozen cards. That's approaching madness. You still need to go through the monthly statements for each of them just in case there are any unexpected charges. Your mailbox and SMSes will be flooded from card specific offers. If you change an address imagine the effort in updating the address for all of them. Tracking your card expiry / renewal, deciding which of the dozen you need to use everytime you need to make a purchase - that's all a major waste of time and mental peace. So, that's why I don't recommend more than a handful of cards (5, or 6 if your Hrithik Roshan!) There are only 3 major banks - HDFC, SBI and ICICI. Axis and Kotak come next but they don't have that many 10% OFF offers. You are already covered for Axis with Ace. So, yes, you can try and get one card from each of those 3 major banks. You said your are getting ICICI Sapphiro LTF. Go for it. HDFC and SBI generally don't do LTF cards. You'll need to try and negotiate. I pay for mine since I asked for LTF when applying and was told "Not possible".

2. I am not an expert on the dynamics between the # of cards, card limits and CIBIL score. I do know that too many cards in too short a period is bad for CIBIL. It shows you are desparate for credit.

3. See 1.

4. That's true. Upgrades are typically offered to frequent users or cards that are being phased out by the bank.

 

[sidp]

Thanks for your response

You are right, I don't have much CC spends.

I have been using CC for over 3 yrs but still very noob in the community, so please pardon me.

1. Is there any downsides to getting multiple LTF cards, even if I don't have any use for them? Not talking about Every card but atleast 1 decent card from major banks.

2.i might be wrong, but isn't getting multiple cards and thereby increasing my Total Credit Limit be a good thing to improve my CIBIL? I am planning to take our a home/auto loan in next year or so.

3. You never know when you might come across a good offer from a bank so wouldn't it be better to be prepared?

4. If I get any banks' basic card, after some time bank might offer me an upgrade or something. Although not sure if this would be the case for me since I would be barely using the card.

There is no downside of multiple cards. Take sapphiro ltf without thinking. Next you need one from hdfc & sbi each. What's your salary?
If your net salary >1Lpm in partner companies, you can get millenia easily. Outside partner companies they might ask for 1.5L. Know that with negotiation you can get with lower salary as well. If you dont succeed then you can take a lower card as ltf but the problem is Auto le and card upgrade is very hard in hdfc without good spend on their cards.
If you want just for offers and can't get any card as ltf, get a rupay card/fuel card. Easier to reach fee waiver.

Sadly sbi won't give any cc ltf. You may have to take a lower varinat card. Same rupay/fuel to reach fuel waiver. One thing you can do is all spend which doesn't give rewards in ace, can be transferred here. Fuel/govt/insurance etc. Sbi cb is best cb card but doesn't give discount during sales.

take sapphiro right now as you. Don't know whether you ll get same offer later. If you do too many hard enquiries, it will dip but it will recover in 2-3 months. So if you plan to take homeloan only after 3 months, then apply for rest.

 

[bhavyakjain]

There is no downside of multiple cards. Take sapphiro ltf without thinking. Next you need one from hdfc & sbi each. What's your salary?
If your net salary >1Lpm in partner companies, you can get millenia easily. Outside partner companies they might ask for 1.5L. Know that with negotiation you can get with lower salary as well. If you dont succeed then you can take a lower card as ltf but the problem is Auto le and card upgrade is very hard in hdfc without good spend on their cards.
If you want just for offers and can't get any card as ltf, get a rupay card/fuel card. Easier to reach fee waiver.

Sadly sbi won't give any cc ltf. You may have to take a lower varinat card. Same rupay/fuel to reach fuel waiver. One thing you can do is all spend which doesn't give rewards in ace, can be transferred here. Fuel/govt/insurance etc. Sbi cb is best cb card but doesn't give discount during sales.

If you do too many hard enquiries, it will dip but it will recover in 2-3 months. So you plan to take homeland only after 3 months, then apply for rest. But take sapphiro right now as you Don't know whether you ll hey same offer later.

Gross Salary > 2.5L p.m.

Should I get hdfc Millenia or neu infinity or something else, assuming LTF
I don't expect to reach fee waiver criteria, so strictly LTF

Sbi I am not considering as of yet for the same issue (no ltf probability)

 

[sidp]

Gross Salary > 2.5L p.m.

Should I get hdfc Millenia or neu infinity or something else, assuming LTF
I don't expect to reach fee waiver criteria, so strictly LTF

Sbi I am not considering as of yet for the same issue (no ltf probability)

With that salary, you should easily get millenia/neu infinity ltf. If you shift salary regalia gold is also possible. But without salary account shift or sizable investment/fd it is unlikely.

If you get neu infinity as 1st hdfc card, it would be harder to get core card later.
But if you use tata brands regularly (bb/1mg/tanishq/cliq) neu infinity is pretty tempting.

For sbi, getting rupay fuel card is good.i think it has fee waiver at 50k, which is easily achievable.

 

[Vasuki]

I am getting ICICI Saphhiro LTF. Should I go for it ?

Thats awesome ..
Anything from icici which is ltf should be welcomed

 

[Vasuki]

sbi, getting rupay fuel card is good.i think it has fee waiver at 50k, which is easily achievable.

Yes normal bpcl 50k fees reversal

 

[vamsikrishna1997]

Regardless u can get
Myntra kotak(3 yr free )
Idfc wealth (ltf)
Axis iocl( can be made ltf after some spending &6+ month

Can we convert our paid iocl card to ltf? I had recently got it but with the recent devaluation I'm thinking to cancel it? If I asked for cancelation will they convert it to ltf? Also I had other 2 axis cards, will telling them I'll close all 3 works, if you guys won't convert it to ltf?

 

[Vasuki]

Can we convert our paid iocl card to ltf? I had recently got it but with the recent devaluation I'm thinking to cancel it? If I asked for cancelation will they convert it to ltf? Also I had other 2 axis cards, will telling them I'll close all 3 works, if you guys won't convert it to ltf?

Why cancel immediately
Hold it for year ..
After 8-9 month try to negotiate for ltf .
& Yes there should be spends too

 

[vamsikrishna1997]

Why cancel immediately
Hold it for year ..
After 8-9 month try to negotiate for ltf .
& Yes there should be spends too

I can hold and spend 50-70k on it in the year which will automatically makes the annual fee waived off for this year as it's only 50k.But from next year it'll 3.5 lac spenda per year to get the annual fee waived off and also as per the latest devaluation the min purchase should be 400 on fuel spends to get reward points and we have 3 scooties in our family and we never fill petrol for more than 300 at anytime so I won't be getting any reward points on fuel spends. So I thought to close it early as there might be no or very less impact on cibil, if in case they won't convert it to ltf. Also there are high chances to get a more impact on cibil if we keep it for long time in my opinion. Let me know if my thought process was right or wrong?

 

[Vasuki]

I can hold and spend 50-70k on it in the year which will automatically makes the annual fee waived off for this year as it's only 50k.But from next year it'll 3.5 lac spenda per year to get the annual fee waived off and also as per the latest devaluation the min purchase should be 400 on fuel spends to get reward points and we have 3 scooties in our family and we never fill petrol for more than 300 at anytime so I won't be getting any reward points on fuel spends. So I thought to close it early as there might be no or very less impact on cibil, if in case they won't convert it to ltf. Also there are high chances to get a more impact on cibil if we keep it for long time in my opinion. Let me know if my thought process was right or wrong?

Don't worry about cibil post2-3 year of history .
But yes - if u unsure about axis to make it ltf close it .
If u have other rupay card .. better close it .
For scooty owner 3 liter is like tank full 💀
Sometimes even more

3.5 lakh on iocl card sinn

 

[vamsikrishna1997]

Don't worry about cibil post2-3 year of history .
But yes - if u unsure about axis to make it ltf close it .
If u have other rupay card .. better close it .
For scooty owner 3 liter is like tank full 💀
Sometimes even more

3.5 lakh on iocl card sinn

Yes, I have credit age of 5 years due to bank loans and holding credit cards since 2&1/2 years and also I have tata neu rupay card. So I'll go with closing this iocl card if they won't accept it for converting to ltf. Many thanks for the clarification

 

[bhavyakjain]

Hello

I am building my credit card portfolio. I currently hold the following cards:
1. ICICI Amazon Pay : 8.5L (LTF), since Sep 2022
2. Axis Ace : 5L (Paid), since Apr 2023

Please recommend good cards that I should add in my portfolio.
1. I use Axis Ace for most of my spends. Please suggest how to convert to LTF.
2. I want a good Rupay card for UPI transactions.
3. My primary objective is cashbacks and offers only, so mainly looking for LTF cards.
4. Initially I want to collect cards for all major banks for offers, even entry level card would suffice for now.
5. My current CIBIL is 776. I am also concerned on how to manage/enhance my CIBIL in my pursuit for a good card portfolio.
6. Please do add in any other recommendations or suggestions if you have any.

Thanks

Update:

Got the following cards:
1. AmEx MRCC : 5L (FYF)
2. ICICI Coral : 12L (LTF)

Next Targets:
1. AmEx Plat Travel
2. ICICI Sapphiro
3. IDFC Wealth
4. HDFC Millenia or Regalia