Infinia Infinia Against ULIP?

[sonuyos]

I got an offer from HDFC RM, saying I can get Infinia (I have no shot at getting it directly without waiting for like years. As it took them 8yrs to upgrade my Moneyback to Millennia card.)

If I go thru FD backed route it will be - 7.20% interest rate on 10lk fd. I straight up lose 5-7% on 10lk = 60k roughly every year.

They said to pay 2.1lk to get the card and of which I can surrender the Policy if I want after 1yr, and get back roungly 103-108k back.

In return they will give me Infinia Metal with a guaranteed upgrade (giving me in writing over email) to Infinia Reserve once the card launches.

Plus the card would be 3 yrs free.

Should I go for it?

Edit : Did not go with it. As many pointed out, the cost doesn't justify the card, especially after the 2:1 accor devaluation.

 

[Vasuki]

I got an offer from HDFC RM, saying I can get Infinia (I have no shot at getting it directly without waiting for like years. As it took them 8yrs to upgrade my Moneyback to Millennia card.)

Just to give you some background, my ITR flys around 10-15lk as I am business man, and There is no shot in getting card otherwise.

If I go thru FD backed route it will be - 7.20% interest rate on 10lk fd. I straight up lose 5-7% on 10lk = 60k roughly every year.

They said to pay 2.1lk to get the card and of which I can surrender the Policy if I want after 1yr, and get back roungly 103-108k back.

In return they will give me Infinia Metal with a guaranteed upgrade (giving me in writing over email) to Infinia Reserve once the card launches.

Plus the card would be 3 yrs free.

Should I go for it?

@S S V @techt

 

[Zacobite]

I got an offer from HDFC RM, saying I can get Infinia (I have no shot at getting it directly without waiting for like years. As it took them 8yrs to upgrade my Moneyback to Millennia card.)

Just to give you some background, my ITR flys around 10-15lk as I am business man, and There is no shot in getting card otherwise.

If I go thru FD backed route it will be - 7.20% interest rate on 10lk fd. I straight up lose 5-7% on 10lk = 60k roughly every year.

They said to pay 2.1lk to get the card and of which I can surrender the Policy if I want after 1yr, and get back roungly 103-108k back.

In return they will give me Infinia Metal with a guaranteed upgrade (giving me in writing over email) to Infinia Reserve once the card launches.

Plus the card would be 3 yrs free.

Should I go for it?

thats a lot of. money to lose for a credit card.. v expensive proposal.. + the insurance policy will lose you a lot of money.. Not worth it at all.. no. matter how much you are. able. to milk infinia.. he is taking you for. a. ride.. stay away..

 

[sonuyos]

I calculated, it would cost me 17.6lk rupees of spend to recoup the 1lk 6k.

Pff.. What a waste.

 

[SSV]

I got an offer from HDFC RM, saying I can get Infinia (I have no shot at getting it directly without waiting for like years. As it took them 8yrs to upgrade my Moneyback to Millennia card.)

Just to give you some background, my ITR flys around 10-15lk as I am business man, and There is no shot in getting card otherwise.

If I go thru FD backed route it will be - 7.20% interest rate on 10lk fd. I straight up lose 5-7% on 10lk = 60k roughly every year.

They said to pay 2.1lk to get the card and of which I can surrender the Policy if I want after 1yr, and get back roungly 103-108k back.

In return they will give me Infinia Metal with a guaranteed upgrade (giving me in writing over email) to Infinia Reserve once the card launches.

Plus the card would be 3 yrs free.

Should I go for it?

According to 99.9% of TF community you should never go for ULIP for any kind of benefits..
You can see how the numbers skewed againt it ..
Decision yours..
your money , your choice ..

 

[Zacobite]

I calculated, it would cost me 17.6lk rupees of spend to recoup the 1lk 6k.

Pff.. What a waste.

fD is still ok.. assuming you keep your emergency fund in FD in HDFC.. u can recover the notionla difference in rewards

 

[sonuyos]

According to 99.9% of TF community you should never go for ULIP for any kind of benefits..
You can see how the numbers skewed againt it ..
Decision yours..
your money , your choice ..

What are the other options to get Infinia when the odds are literally stacked against me here.

They wont even give me Regalia, let alone DCB. It took them 8yrs to give me Millennia.

 

[sonuyos]

fD is still ok.. assuming you keep your emergency fund in FD in HDFC.. u can recover the notionla difference in rewards

But with FD i am losing 60k at least every year, right?

 

[Zacobite]

What are the other options to get Infinia when the odds are literally stacked against me here.

They wont even give me Regalia, let alone DCB. It took them 8yrs to give me Millennia.

what do u spend. per yr on cc??

 

[Zacobite]

But with FD i am losing 60k at least every year, right?

how.. whr did 60k.come from.?

 

[sonuyos]

what do u spend. per yr on cc??

Currently have MB & Reserve, spend is about 50-80lk a yr, use miles 100% of time.

Gonna cancel Reserve and spend exclusively on MB, but after Group A (Accor) exhaustion, don't have incentive to use the card.

 

[Vasuki]

According to 99.9% of TF community you should never go for ULIP for any kind of benefits..
You can see how the numbers skewed againt it ..
Decision yours..
your money , your choice ..

I wonder what about no HDFC cc holder

How much ulip can help in getting cc ?

They said to pay 2.1lk to get the card and of which I can surrender the Policy if I want after 1yr, and get back roungly 103-108k back

Getting axed 1 lakh for infinia better get amex plat bro .
Not recommended

 

[sonuyos]

7.2% on 11lk = 79200Rs in Interest, I can generate 15% from other sources, so losing about 60-70k.

 

[Zacobite]

Currently have MB & Reserve, spend is about 50-80lk a yr, use miles 100% of time.

Gonna cancel Reserve and spend exclusively on MB, but after Group A (Accor) exhaustion, don't have incentive to use the card.

50-80 Lakh? are u sure.. these cannot be retail spends.. are you using for. biz spends..? still they want you to take. ULIP for. infinia? something is wrong!!

 

[sonuyos]

I wonder what about no HDFC cc holder

How much ulip can help in getting cc ?




Getting axed 1 lakh for infinia better get amex plat bro .
Not recommended

2.1lk for 5yrs (though they saying i can surrender next yr and still continue the card).

Amex Plat is useless for me, I don't stay in Marriott. I stay exclusively in Accor.

 

[techt]

I got an offer from HDFC RM, saying I can get Infinia (I have no shot at getting it directly without waiting for like years. As it took them 8yrs to upgrade my Moneyback to Millennia card.)

Just to give you some background, my ITR flys around 10-15lk as I am business man, and There is no shot in getting card otherwise.

If I go thru FD backed route it will be - 7.20% interest rate on 10lk fd. I straight up lose 5-7% on 10lk = 60k roughly every year.

They said to pay 2.1lk to get the card and of which I can surrender the Policy if I want after 1yr, and get back roungly 103-108k back.

In return they will give me Infinia Metal with a guaranteed upgrade (giving me in writing over email) to Infinia Reserve once the card launches.

Plus the card would be 3 yrs free.

Should I go for it?

Here from ex ulip agent @amitr29

 

[Zacobite]

7.2% on 11lk = 79200Rs in Interest, I can generate 15% from other sources, so losing about 60-70k.

like i said... Emergency fund in FD.. not investment fund..

 

[sonuyos]

50-80 = 5-6lk a month. Of which half is just insurance, that's the main reason, lmao. I have so many insurance that if I don't think Term plan, I will still be good. Especially now that MB stopped giving Insurance points.

 

[sonuyos]

like i said... Emergency fund in FD.. not investment fund..

I dont keep Emergency funds.

 

[SSV]

What are the other options to get Infinia when the odds are literally stacked against me here.

They wont even give me Regalia, let alone DCB. It took them 8yrs to give me Millennia.

First question:
Do you really need Infinia?
Do you use most of its non spend benefits as well?