Regarding UPI usage of Tata Neu Infinity Rupay

[Akash Topder]

I want a Rupay CC for UPI usage and I was considering Tata Neu Infinity because it's FYF for me and might be the best rewarding card for UPI transactions right now. As it's not LTF for me, I need to hit 3L spend per year. As my usage on Tata brands are negligible and already holding the SBI cashback card I'll only be using the Infinity for UPI. I want to know to hit the 3L target if I send money to my own or my parent's marchant account then what will the income tax, GST, MDR or any other type of problems that may occure?
Note: I'll only be doing this to hit 3L milestone for annual fee waiver criteria, not to rotate money and gaining cashback.

 

[Batmanbaba]

I had applied for some credit cards from different banks but didn't proceeded further after cibil enquiry due to lower card variant issue. How to remove enquiries from cibil in these cases? Banks had denied to remove enquiries from cibil as they are adamant on the point that I have explicitly applied for their credit cards by giving the consent through SMS.

Those cibil will never be removed... And if its not too much in a month... Like 15-20...no issues..... I have 40 enquiries in last 2 years... And still I hold 7 cards.... So I don't think it plays too much of a role... If ur cibil is good... Like above 770 and u don't miss any payment or cross 30% threshold... Ur cibil won't fluctuate too much.... It will be in 15-20 points range... Down or up...

 

[Wealth is my birth right!]

Those cibil will never be removed... And if its not too much in a month... Like 15-20...no issues..... I have 40 enquiries in last 2 years... And still I hold 7 cards.... So I don't think it plays too much of a role... If ur cibil is good... Like above 770 and u don't miss any payment or cross 30% threshold... Ur cibil won't fluctuate too much.... It will be in 15-20 points range... Down or up...

Omg 40 queries
Truly inspiring 😊

 

[_na_cheese]

Just get it FYF, use it for 11 months. Do a cancelation request citing annual charges, if they do make it LTF, then its good. If not, check how close are you to fee waiver, if close do that much of transaction. If not close, cancel it. There'll be a lot more banks and cards on UPI 11 months from now on.

I'm doing this. Paid some cc bills through bhim/anyother upi app trick. The trick won't last forever but I'll cross the fee waiver in a cycle or two if not patched.

Open a zero balance account and transfer the money in it... Till 7 lakh... There is no issue.... Per account... As currently.. U dont have facility to combine cumulative of all accounts by IT dept....

Will do this as last resort. Or cancel it because i already have a BOB card on which i have lower spend criteria on fee waiver.

 

[Batmanbaba]

Omg 40 queries
Truly inspiring 😊

16 are for sbi itself... And still dont have a sbi card...

 

[Wealth is my birth right!]

16 are for sbi itself... And still dont have a sbi card...

Sad part about sbi the agents prepare application and enquire cibil but don’t approve

 

[RupayMan]

Bank only reports to IT dept if intrest is above 50k or deposit goes above 7 lakh ...in a particular account Which dont go in my any single account or combined.... I nevdr faced any issue... And I only give details of my two accounts....

No, 50K interest is cumulative of all the Accounts you have under your Pan card. It's your responsibility to do the analysis and pay the tax by combining the income, whether bank reports to income or not for now, when an audit happen, Income tax dept will give penalty charges.. and more over now Income tax dept is tracking all your data, from mutual fund, FD, P2P investment etc.. Having multiple bank account doesn't mean each account have 7 lakh tax free limit..

 

[WhoU]

Suppose if u r not getting a card u can remove those bank queries from cibil
Process is long but u can

No you can’t remove cibil queries if a card is rejected. You can only remove if the query was duplicate or invalid due to technical reasons or bank errors. Card application is a genuine query and no bank will remove it irrespective of selection/rejection.

 

[WhoU]

Any idea which bob variant is on rupay currently
Edit:
Able to get details from abhishek’s post

All RuPay Credit card issuer bank list & How to change Visa Card to RuPay Credit card

All RuPay Credit card issuer bank list & How to change Visa to RuPay Credit card: NPCI is planning to launch RuPay credit cards with all credit card issuing banks in the next few years. NPCI currently focusing to get the banks ready, enabled and certified. You should know RuPay has 3 variants...

www.technofino.in

Don’t go for it though. Bob cards other than eterna are really basic. I have premier LTF hoping it would come on upi, but got FYF tata neu ultimately. I don’t think I will ever use premier. Even if I pay renewal fees for neu, it’s a better card than premier.

 

[_na_cheese]

Don’t go for it though. Bob cards other than eterna are really basic. I have premier LTF hoping it would come on upi, but got FYF tata neu ultimately. I don’t think I will ever use premier. Even if I pay renewal fees for neu, it’s a better card than premier.

If you're talking about better in rewards sense, i wish you were right. But i haven't got as much neu coins as i should have. Only 15. Also the forum is full of people complaining about neu coins. And only thinkable redemption option for me is either tata cliq or croma.

The bob card i have is hpcl. I use it only for fuel and the reward redemption is easier and it can be used to pay statement. If I'm not wrong because i haven't redeemed any.

Its nice to have UPI on cc as i no longer will have the need to keep as much money as i usually keep in payments bank. Can park that money in P2P for the meanwhile. Yes, rewards on UPI cc transactions can be nice to have but with my little volume they'll be nullified if I have to pay annual fees.

And if you're talking about lounges and customer service, I have never had the need to travel by air but even if I do, it'll be once in a year or so. Which I can access with my other cards. And customer service, BOB is slow and the number mentioned on Neu card never connects.

 

[WhoU]

If you're talking about better in rewards sense, i wish you were right. But i haven't got as much neu coins as i should have. Only 15. Also the forum is full of people complaining about neu coins. And only thinkable redemption option for me is either tata cliq or croma.

The bob card i have is hpcl. I use it only for fuel and the reward redemption is easier and it can be used to pay statement. If I'm not wrong because i haven't redeemed any.

Its nice to have UPI on cc as i no longer will have the need to keep as much money as i usually keep in payments bank. Can park that money in P2P for the meanwhile. Yes, rewards on UPI cc transactions can be nice to have but with my little volume they'll be nullified if I have to pay annual fees.

And if you're talking about lounges and customer service, I have never had the need to travel by air but even if I do, it'll be once in a year or so. Which I can access with my other cards. And customer service, BOB is slow and the number mentioned on Neu card never connects.

YMMV, I never faced trouble connecting to 1800208282638. And HDFC has put a monthly limit on rewards from UPI txn, so you will receive the points after 1.5 months (worst case). The UPI reward rate is 1.5% for NEU Infinity whereas it would be 0.5 for premier (if and when it starts). I haven’t tried redeeming neu coins yet, but can you not do it on BB/1MG? I am sure these can be used by everyone if they are in a serviceable area.

 

[_na_cheese]

YMMV, I never faced trouble connecting to 1800208282638. And HDFC has put a monthly limit on rewards from UPI txn, so you will receive the points after 1.5 months (worst case). The UPI reward rate is 1.5% for NEU Infinity whereas it would be 0.5 for premier (if and when it starts). I haven’t tried redeeming neu coins yet, but can you not do it on BB/1MG? I am sure these can be used by everyone if they are in a serviceable area.

Bigbasket is not available in my city. 1mg is good idea. I can give those rewards to my friends in big cities though. Been doing that with vouchers I get from cheq

 

[Abhishek012]

Any idea which bob variant is on rupay currently
Edit:
Able to get details from abhishek’s post

All RuPay Credit card issuer bank list & How to change Visa Card to RuPay Credit card

All RuPay Credit card issuer bank list & How to change Visa to RuPay Credit card: NPCI is planning to launch RuPay credit cards with all credit card issuing banks in the next few years. NPCI currently focusing to get the banks ready, enabled and certified. You should know RuPay has 3 variants...

www.technofino.in

2-3 new BOB RuPay JCB Credit cards coming soon.

 

[Abhishek012]

Don’t go for it though. Bob cards other than eterna are really basic. I have premier LTF hoping it would come on upi, but got FYF tata neu ultimately. I don’t think I will ever use premier. Even if I pay renewal fees for neu, it’s a better card than premier.

BOB Snapdeal RuPay Credit card also good - 2.5% cashback upto 500 per month on any online shopping, Grocery and Departmental stores.

I heard Wallet spend also give 2.5% Cashback.