Thinking of downgrading SC Ultimate

[unbalanced_tree]

Hi guys

I got the SC ultimate card around 11 months ago. Since the renewal fee will be charged in a few weeks, I am thinking whether I should keep this card. I am not happy with the current rewards catalogue. The only voucher that I can use is Uber and that may be removed in the future as well.

I already have LTF DCB, which is my major driver and hence was only planning to use this card for tax payments. So, I am thinking of downgrading to SC Smart card, since it will give 2% direct cashback - same as SC Ultimate. I do not have any issues with SC Smart's cap of 1000 rupees on cashback. Will SC allow the downgrade or should I just close the card? Is there any better option in general and for tax payments ? The cards I currently hold are:

• DCB (LTF)
• Tata Neu Infinity (LTF)
• Axis MyZone (LTF)
• ICICI Amazon pay (LTF)
• SBI SimplyClick (500 + GST)
• IndusInd Legend (LTF)
• HSBC Premier (LTF)

 

[sourpai]

There are two benefits of SC Ultimate over other cards
1. Tax Payments of higher amounts >50K
2. Direct wallet loads on Paytm

IDFC First wealth is also a replacement for both the use cases withy little bit lower reward rate. For rest of the use cases, SC ultimate does not have any benefits as such.

For your use cases, you can close it peacefully

 

[credit_debit]

The downgrade should work. If not directly apply for SC Smart. currently, it's first year free. Then close the ultimate.

 

[AlgoTrader]

Having same dilemma as I found mix of other cards covering most aspects. I rarely use SCU...
If only they can have Amazon pay as a voucher option....

 

[unbalanced_tree]

Having same dilemma as I found mix of other cards covering most aspects. I rarely use SCU...
If only they can have Amazon pay as a voucher option....

Yeah if they were giving Amazon vouchers, then the card would be great. Even if they were giving any of Flipkart, Bigbasket, Zomato, Swiggy etc you could get value out of the card. But in current state, it seems that the reward options are targeted towards HNI and UHNI people only.

 

[AlgoTrader]

Yeah if they were giving Amazon vouchers, then the card would be great. Even if they were giving any of Flipkart, Bigbasket, Zomato, Swiggy etc you could get value out of the card. But in current state, it seems that the reward options are targeted towards HNI and UHNI people only.

Yeah, they could have left chroma alone or could have brought in an equivalent replacement. I also got the card 11 months ago and willing to give one more year to see whether anything improvises

 

[nithin1992]

They'll usually do it if you call them and ask for whichever card you like.

I'm using their SC Smart too now and it's not great either, it's only being used for some insurance payments for now.

I've just kept it to keep the SC relation going but honestly their customer care is also quite poor compared to HSBC.

 

[AlgoTrader]

They'll usually do it if you call them and ask for whichever card you like.

I'm using their SC Smart too now and it's not great either, it's only being used for some insurance payments for now.

I've just kept it to keep the SC relation going but honestly their customer care is also quite poor compared to HSBC

You downgraded from SC Ultimate to smart?

 

[rewrihitesh]

There are two benefits of SC Ultimate over other cards
1. Tax Payments of higher amounts >50K
2. Direct wallet loads on Paytm

IDFC First wealth is also a replacement for both the use cases withy little bit lower reward rate. For rest of the use cases, SC ultimate does not have any benefits as such.

For your use cases, you can close it peacefully

There are two benefits of SC Ultimate over other cards
1. Tax Payments of higher amounts >50K - govt spend earns you nothing, is not it?
2. Direct wallet loads on Paytm - there are charges levied by paytm?? how is it good??

 

[sxchzy]

There are two benefits of SC Ultimate over other cards
1. Tax Payments of higher amounts >50K - govt spend earns you nothing, is not it?

not sure about this

2. Direct wallet loads on Paytm - there are charges levied by paytm?? how is it good??

3.33% reward rate
1.5% net transaction charges
net benefit 1.7%

 

[Virgo]

There are two benefits of SC Ultimate over other cards
1. Tax Payments of higher amounts >50K - govt spend earns you nothing, is not it?
2. Direct wallet loads on Paytm - there are charges levied by paytm?? how is it good??

On 1 - SC Ultimate gives 2% on all govt payments
On 2 - SCU gives 3.33% for Wallet load so net benefit. For Paytm wallet load, I get 3.33% on SCU plus the 1.5% cashback in Paytm fuel wallet (promotion run by Paytm itself). Against which you pay 2.35% as charges.

 

[AlgoTrader]

On 1 - SC Ultimate gives 2% on all govt payments
On 2 - SCU gives 3.33% for Wallet load so net benefit. For Paytm wallet load, I get 3.33% on SCU plus the 1.5% cashback in Paytm fuel wallet (promotion run by Paytm itself). Against which you pay 2.35% as charges.

one curious question, why do people load paytm wallet despite such high charges? what is the use case here? why not use the card directly for such spends?

 

[sxchzy]

one curious question, why do people load paytm wallet despite such high charges? what is the use case here? why not use the card directly for such spends?

Without doing anything your are getting2-3% rewards then what is the harm with it?

 

[AlgoTrader]

Without doing anything your are getting2-3% rewards then what is the harm with it?

but if you use card directly for purchase, we get whole 3.33%, tight? just trying to understand the use case

 

[shuperman]

but if you use card directly for purchase, we get whole 3.33%, tight? just trying to understand the use case

they won't buy any thing with the amount in the wallet.. they just transfer it back to bank account for free..

 

[sxchzy]

but if you use card directly for purchase, we get whole 3.33%, tight? just trying to understand the use case

people load wallet for two reason
one where there isnt a pos
second to rotate money

 

[sourpai]

but if you use card directly for purchase, we get whole 3.33%, tight? just trying to understand the use case

I spend around 7-9K via Paytm wallet including Paytm fastag per month

It is used where there is Paytm QR code and shop doesn't accept credit cards. Lot of such places in my vicinity, including petrol pumps (I am not keen on co branded fuel CCs)

 

[AlgoTrader]

I spend around 7-9K via Paytm wallet including Paytm fastag per month

It is used where there is Paytm QR code and shop doesn't accept credit cards. Lot of such places in my vicinity, including petrol pumps (I am not keen on co branded fuel CCs)

got it, makes sense, thanks everyone for clarifying my stupid question.

 

[rewrihitesh]

I did a Govt Payment:
(statement) 35905 - 35570 (original) = 335
RP Earned: 1197
Biggest Downside is not a single voucher is good.

 

[sxchzy]

uber is ok
vistara is there
others arre not worth it agreed