Those with multiple cards - how do you derive value from all cards?

[vysakh]

Those with 5+ or 10+ or even 15+ active cards, how do you manage to extract value from all your cards?

The LTF ones are a no brainer, but then there are cards with high annual charges like 5k, 10k, 20k and even 50k. Some of these come with some perks which will give you get the equivalent value back, but at the very least the GST component is something you pay extra and don't get anything back. Some of the banks like SBI and Axis have insanely high annual fee waiver limits and reaching those limits every year or every non LTF card is probably not happening for anyone. Many of the benefits overlap too - like the airport lounge access. Almost every card gives some number of lounge accesses, perhaps even the LTF ones. Doesn't really make sense to pay a high annual fee on one card to get some free lounge accesses when you might already be getting that from the LTF cards.

One thing I would've liked to see in card reviews (non LTF ones) is the target spends to get value out of it. The only card I've seen this being mentioned is for the Axis Magnus where it gives good milestone benefits if you spend 1L a month and anything less than that, it's probably worthless. I see people holding the Magnus and Infinia. If the spends are less than 1L, the only benefit I see on the magnus that's not on the infinia is the meet and greet. There is some limit on it too, like 4 or 8 per year, but is this something worth 10k + GST (or just the GST) ?

 

[Subhankar]

Those with 5+ or 10+ or even 15+ active cards, how do you manage to extract value from all your cards?

The LTF ones are a no brainer, but then there are cards with high annual charges like 5k, 10k, 20k and even 50k. Some of these come with some perks which will give you get the equivalent value back, but at the very least the GST component is something you pay extra and don't get anything back. Some of the banks like SBI and Axis have insanely high annual fee waiver limits and reaching those limits every year or every non LTF card is probably not happening for anyone. Many of the benefits overlap too - like the airport lounge access. Almost every card gives some number of lounge accesses, perhaps even the LTF ones. Doesn't really make sense to pay a high annual fee on one card to get some free lounge accesses when you might already be getting that from the LTF cards.

One thing I would've liked to see in card reviews (non LTF ones) is the target spends to get value out of it. The only card I've seen this being mentioned is for the Axis Magnus where it gives good milestone benefits if you spend 1L a month and anything less than that, it's probably worthless. I see people holding the Magnus and Infinia. If the spends are less than 1L, the only benefit I see on the magnus that's not on the infinia is the meet and greet. There is some limit on it too, like 4 or 8 per year, but is this something worth 10k + GST (or just the GST) ?

It purely depends on one's need. The paid one are always to value out, LTF one are for bank related offers and balance out credit utilisations. I'll go with mine.
I've pretty hefty international transaction regarding my business and wants to distribute the total amount spends on different cards. Now my whole portfolio of cc (very tiny one) based on this purpose:

1. Axis Reserve: 1.5% markup, FYF, fee will get waived off on usage, luxury airport transfers, unlimited PP lounge access with 12 guest visits, few hotel membership, BMS offer. There are other major benefits like 50 rounds of golf etc which I'll eventually won't use. Only the airport transfer brings out 32K value (8k approx per transfer with Merc, BMW, Audi)

2. Stan C Ultimate: 2% markup. Flat 3.3% reward rate on EVERYTHING, which is great. very minimal fee, joining fee gets compensated along with GST with the 6k points and from next year, you only loose GST part.

3. SBI Aurum: 2% markup, low reward rate but good milestone value, and that sweet BMS benefit. Only BMS benefit availed properly can compensate the joining fee + GST. Though first year you get 10k INR worth points. Nothing to loose. And yes, some exclusive club membership along with few subs, so you end up getting more value. Had SBI Elite but closed, took that for movie offer and same 2% markup.

4. Yes First Exclusive: 1.75% markup. Purely to keep it just like that and banking offer. Though I missed LTF one, but 1k + GST won't harm.

5. HDFC Regalia: 2% markup. Purely to get the Infinia. Though lower limit on it but applying for Infinia, trying my luck as I've spent way more than enough on it. Global value gave me those sweet 1k cash back every month so far

6. CITI Premier Miles: Purely to get Citi Prestige but seems I'm going to be out of luck on this one. If I don't get Citi Prestige before the migration, will be cancelling it, may be, high probability. Though Axis may just merge Citi Prestige with Reserve, keeping the hope high.

7. Axis Select: LTF with Burgundy. Swiggy offer and big basket offer. Saves solid 800-900 bucks every month.

8. BOB Eterna: 2% markup. But only keeping it to use till 40k per month purely on online transaction for that accelerated RP, 3.75% value back, and that sweet point to statement transfer. Easy fee waiver spends and 20k bonus points worth 5k on 5L spends in a year.

9. OneCard: 1% markup but kept for balancing utilisation

10. IndusInd Plat Aura Edge: LTF, bank offer and balancing utilisation. Will be getting Pioneer Heritage Metal or Indulge later on.

11. Stan C Super Value Titanium: Fuel usage, bill payments 5% cashback (capped) but serves the purpose.

Upcoming:
1. ICICI Emeralde: 1.5% markup, and other card specific benefits.

2. AU Zenith: 2% markup, LTF

 

[vysakh]

I've pretty hefty international transaction regarding my business and wants to distribute the total amount spends on different cards.

Cool list and it makes sense for your needs. I see low markup fee on most of the cards you've mentioned. However, wouldn't distributing them across multiple cards dilute the benefits? Like if a card has 1% markup fee, wouldn't it be more beneficial to do all foreign transactions on this one, rather than on the ones with 1.5% or 1.75% or 2%? Or do those cards give more value than the extra 0.5% or 0.75% or 1%?

The SBI Elite/Aurum gives the impression that the entire value of the card can be got back with just the BMS offer, but wouldn't it be better using other cards for this? I mean, to get the full benefit of the card, one needs to get the movie tickets every month, which is doable for a movie buff. Even then, it's like paying 5k/10k to get movie tickets worth 5k/10k. No real added value. Wouldn't some card that gives BOGO on BMS be better value? Even better if some card in your portfolio already does that.

 

[Subhankar]

Cool list and it makes sense for your needs. I see low markup fee on most of the cards you've mentioned. However, wouldn't distributing them across multiple cards dilute the benefits? Like if a card has 1% markup fee, wouldn't it be more beneficial to do all foreign transactions on this one, rather than on the ones with 1.5% or 1.75% or 2%? Or do those cards give more value than the extra 0.5% or 0.75% or 1%?

The SBI Elite/Aurum gives the impression that the entire value of the card can be got back with just the BMS offer, but wouldn't it be better using other cards for this? I mean, to get the full benefit of the card, one needs to get the movie tickets every month, which is doable for a movie buff. Even then, it's like paying 5k/10k to get movie tickets worth 5k/10k. No real added value. Wouldn't some card that gives BOGO on BMS be better value? Even better if some card in your portfolio already does that.

Even at 1% or 0%, cards draw lesser value with 3.5% markup. Such as Citi Prestige, The point value can reach upto 8% on miles transfer with multiplier. These lower markups are hard discounts. Some you loose value at first then gain in longer term.
SBI Aurum is the one I got from Elite because my spending already touches the Aurum's fee waiver criteria, and Aurum can be valued out really well for power user and moderate user. Power user can value out at 4.7% if monthly spend is 1L each month with milestone benefits and for moderate user, it can go upto 3% and 3% is decent enough.
BOGO is good for tickets pricing above 450 but for lesser priced tickets like most of the movies unless you're opting for IMAX 3D, Insignia or PVR Gold, you can really value out these offers.

 

[vysakh]

Fair enough.

So to speak, the usage needs to be quite high on all the paid cards to get good value?

if get a card with 50K fee, reversal at 10 lakh, I'll take it either if I can extract 50K value for spending under 10L, or if I spent over 10L.

Excellent advice.

This is something I've always wondered when I see people with so many cards. Have seen people, some of them students without any income, get card after card and wondered how they manage.

 

[TechnoFino]

Those with 5+ or 10+ or even 15+ active cards, how do you manage to extract value from all your cards?

The LTF ones are a no brainer, but then there are cards with high annual charges like 5k, 10k, 20k and even 50k. Some of these come with some perks which will give you get the equivalent value back, but at the very least the GST component is something you pay extra and don't get anything back. Some of the banks like SBI and Axis have insanely high annual fee waiver limits and reaching those limits every year or every non LTF card is probably not happening for anyone. Many of the benefits overlap too - like the airport lounge access. Almost every card gives some number of lounge accesses, perhaps even the LTF ones. Doesn't really make sense to pay a high annual fee on one card to get some free lounge accesses when you might already be getting that from the LTF cards.

One thing I would've liked to see in card reviews (non LTF ones) is the target spends to get value out of it. The only card I've seen this being mentioned is for the Axis Magnus where it gives good milestone benefits if you spend 1L a month and anything less than that, it's probably worthless. I see people holding the Magnus and Infinia. If the spends are less than 1L, the only benefit I see on the magnus that's not on the infinia is the meet and greet. There is some limit on it too, like 4 or 8 per year, but is this something worth 10k + GST (or just the GST) ?

Depends....
I have many premium cards... and my spending is bit high...
I have Infinia for smartbuy (amazon, flight)
I use Magnus For 1L monthly milestone,
StanC Ultimate for high insurance, utility bill & offline Spending
Axis ACE for Offline Spending & Bill Payment
Axis Reserve - got fees reversal
ICICI Emeralde - got first year free
Axis Vistara - for vistara travel & Milestone benefits (bonus CV points)
BOB Eterna - LTF & 3.75% on all spending till 33.5K per month
and many more....