Infinia Infinia for car down payment

[yashwanthms]

Hi,

I am planning to do a down payment of around 10L to buy a car.
I hold an Infinia with a credit limit of 8L currently. I've written to them to increase credit limit as well. Awaiting the reply!
If I want to do this payment of 10L using Infinia, SC may charge around 1.5-2% extra.
Will it be worth it to pay using Infinia?
If I do payment of around 7L, pay that bill and again do 3L, is it valid or will it harm my cibil score?
Also, will it harm my credit score if I swipe for 7L since I'd be utilising almost full credit limit?

If it is going to be worth it, considering reward points cap per day, should I do the payment on multiple days?

 

[kushhh]

If it is going to be worth it, considering reward points cap per day, should I do the payment on multiple days?

The cap is only on accelerated rewards afaik

 

[kushhh]

If it is going to be worth it, considering reward points cap per day, should I do the payment on multiple days?

If you have a good credit history, the effect will be minute

 

[Zacobite]

Hi,

I am planning to do a down payment of around 10L to buy a car.
I hold an Infinia with a credit limit of 8L currently. I've written to them to increase credit limit as well. Awaiting the reply!
If I want to do this payment of 10L using Infinia, SC may charge around 1.5-2% extra.
Will it be worth it to pay using Infinia?
If I do payment of around 7L, pay that bill and again do 3L, is it valid or will it harm my cibil score?
Also, will it harm my credit score if I swipe for 7L since I'd be utilising almost full credit limit?

If it is going to be worth it, considering reward points cap per day, should I do the payment on multiple days?

no effect on score if you pay immediately before bill date / reporting date as per bank.. it will drop. score if u use the credit periof.. no limit on regular points only smartbuy points have limits..

 

[Gaara]

If I want to do this payment of 10L using Infinia, SC may charge around 1.5-2% extra.
Will it be worth it to pay using Infinia?

Someone mentioned purchasing RE using their credit card. However, their card had a daily spending limit of 50,000 rupees. To work around this limitation, they requested the dealer to send a payment link for 5 consecutive days, allowing them to make the payment in installments.

 

[Gaara]

no effect on score if you pay immediately before bill date.. it will drop. score if u use the credit periof.. no limit on regular points only smartbuy points have limits..

Transactions made during your billing cycle will appear on your statement, regardless of when you pay them off. So, even if you pay for something the day before your statement is generated, it will still show up on your bill.

Paying your bill in full before the due date is good practice, but it doesn't affect whether the transaction is reflected in your report. The report tracks your spending activity, not your payment history.

 

[Zacobite]

Transactions made during your billing cycle will appear on your statement, regardless of when you pay them off. So, even if you pay for something the day before your statement is generated, it will still show up on your bill.

Paying your bill in full before the due date is good practice, but it doesn't affect whether the transaction is reflected in your report. The report tracks your spending activity, not your payment history.

bills paid before statement date dont get reported to cibil.. cibil only shows dues.. so if he spends and immediately pays off before cibil reporting date.. it. won't affect his score.. his stmt will show.. ofcourse!

 

[Vasuki]

Hi,

I am planning to do a down payment of around 10L to buy a car.
I hold an Infinia with a credit limit of 8L currently. I've written to them to increase credit limit as well. Awaiting the reply!
If I want to do this payment of 10L using Infinia, SC may charge around 1.5-2% extra.
Will it be worth it to pay using Infinia?
If I do payment of around 7L, pay that bill and again do 3L, is it valid or will it harm my cibil score?
Also, will it harm my credit score if I swipe for 7L since I'd be utilising almost full credit limit?

If it is going to be worth it, considering reward points cap per day, should I do the payment on multiple days?

Won't axis atlas be good here ?

 

[sidp]

If I want to do this payment of 10L using Infinia, SC may charge around 1.5-2% extra.
Will it be worth it to pay using Infinia?
If I do payment of around 7L, pay that bill and again do 3L, is it valid or will it harm my cibil score?
Also, will it harm my credit score if I swipe for 7L since I'd be utilising almost full credit limit?

Utilization is decided on the day of bill generation. If you pay up before bill is generated it won't be hamper your score. Rather help you build it . Also might help in le.
Also know that for repay and reuse method you have to look at which dc will give rewards in cc bill pay in which platform and how fast it will settle. You can stretch the payment across Multiple days. But this also depends are they accepting online payment or only pos swipe. Cuz visiting dealer multiple times just for down-payment will waste way too much time.

Dealer asks for 1.5-2%. But it depends on your negotiation. People have paid using cc without any extra charge. But it is difficult for car with high demands like xuv700/creta/ Brezza etc. Though 1% is definitely possible.

You can also ask if they are accepting prepaid card And what extra charge they are charging on it. That will give you better return.

Not sure the reward limit is per calendar month or billing month. i think calendar month then you have to buy some today.

Else atlas or mb is also a good option.

 

[paxauquabriba-4876]

The cap is only on accelerated rewards afaik

in layman terms ?

 

[raghumahajan]

What type of charge is there on Standard Chartered Ultimate?

Hi,

I am planning to do a down payment of around 10L to buy a car.
I hold an Infinia with a credit limit of 8L currently. I've written to them to increase credit limit as well. Awaiting the reply!
If I want to do this payment of 10L using Infinia, SC may charge around 1.5-2% extra.
Will it be worth it to pay using Infinia?
If I do payment of around 7L, pay that bill and again do 3L, is it valid or will it harm my cibil score?
Also, will it harm my credit score if I swipe for 7L since I'd be utilising almost full credit limit?

If it is going to be worth it, considering reward points cap per day, should I do the payment on multiple days?

 

[kushhh]

in layman terms ?

Cap is only on smartbuy spends. Normal transactions which give 3.33% return has no cap

 

[PSY]

Cap is only on smartbuy spends. Normal transactions which give 3.33% return has no cap

There is a cap on normal points as well. It’s 2L per month.

 

[Zacobite]

There is a cap on normal points as well. It’s 2L per month.

which is 60L INR per month .. So technically no cap for most users.. Noted!

 

[kushhh]

There is a cap on normal points as well. It’s 2L per month.

To achieve 2L rewards , one has to spend 60lakh a month 🌝

 

[hema220]

no effect on score if you pay immediately before bill date.. it will drop. score if u use the credit periof.. no limit on regular points only smartbuy points have limits..

No it's not bill date. Every bank shares outstanding amount to credit bureaus on fixed date in every month, so you have to before that date,

 

[Zacobite]

No it's not bill date. Every bank shares outstanding amount to credit bureaus on fixed date in every month, so you have to before that date,

yes stmt date or end of month. cant give specific on every post with fine print ..high level message needs to be comprehended

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[sourpai]

While extra charges can be negotiated with the dealer based on negotiation skills, please remember that car dealerships are far more experienced as they do this day in and day out with many customers

If any car dealer has agreed to take card with no charges, it also means that he would have agreed to add any other service such as extended warranty or additional accessories etc. if you chose to pay via Cheque or net banking. In the end, they will ensure that they get the money profitably and as per what their P&L allows

 

[cc_optimizer]

Doesn’t Infinia have temporary limit increase facility? You can just call customer care before making the payment to the dealer and they will temporarily increase your limit to the specified amount. But again it depends on bank how much they are willing to increase.

 

[Firewing224]

Pay cc bill before 27th of the month and it won't reflect in your cibil. O/S as on 27th is reported.