I travel regularly and have always believed in owning credit cards that provide me with optimum returns for my spends. Credit Cards not only provide me higher purchasing power but also helps in creating a good credit history. Needless to say, I am disciplined in repayment and borrow responsibly.
I earn more than 1 million (or 10 Lakhs) in credit card points every year; these points enable me to travel to destinations across the globe, FOR FREE!!
Here are my top 4 credit cards that I keep in my wallet to optimise my spending. There is lots happening in the Indian credit card scene with new cards being launched regularly. I will try and update this regularly.
What is in my wallet in 2023:
1. Axis Magnus
I use this to get to just cross ₹1l in monthly expenses. Then I put it away.
You get about 31k points which converts to about 25k air miles (most airlines and hotels are partners).
Yes about 25% cashback!
I have one and my wife has one too.
You can look up detailed review of the card here.
Costs ₹10k for which you get tata cliq vouchers. Effective cost is the GST of ₹1,800! Annual fee waiver with ₹15L annual spend.
Source: Credofly
2. Axis Reserve
This is my preferred card for international travel. I also use this within India once ₹1L is used up with magnus.
I get 15 points per ₹200 spend and internationally this doubles to 30 points. Also they charge only 1.5% currency conversion against 2%+ charged by other cards.
There are many other benefits including airport pickup (4 times), golf and travel benefits (Marriott, itc and accor) that made me choose this over amex platinum charge card.
It costs ₹50k but you get ₹40k back as travel miles. Effective cost is Rs 20K. Annual fee waiver with ₹25L annual spend.
More detailed review here https://cardmaven.in/axis-bank-reserve-credit-card-review/
3. American Express - Platinum Travel
I have just applied for this card and this will replace my Amex Platinum Reserve; the Plat Reserve isn't as good anymore.
Costs ₹3.5k per annum; no fee waiver but the rewards more than make it up.
4. HDFC Infinia
This used to be my most preferred one till hdfc started devaluing it in 2022. I use to recommend it to one and all...Not anymore!!
First the 10x in Amazon became 5x and now nothing.
You can use the points for purchase of tickets and now only upto 70%
I use this primarily for smartbuy purchases and for Golf bookings.
Costs ₹12.5k per annum. Annual fee waiver with ₹10L spend.
Detailed review >> https://cardmaven.in/hdfc-bank-infinia-credit-card-review/
Managing ones money wisely isn't just about smart investing; it's also about being smart about spending.
Source: Cardmaven, Credofly