1. Discounts & Cashback
- Some prefer instant discounts (e.g., ICICI Bank cards on Amazon, Flipkart).
- Some prefer cashback (e.g., Cashback SBI Card – 5% on online spends, HSBC Live+ – 10% on dining & groceries).
- Some go for brand-specific cashback (e.g., Amazon Pay ICICI, Flipkart Axis, Tata Neu Infinity HDFC).
2. Reward Points & Airmiles
Many use reward points for:
- Airmiles (e.g., Axis Bank cards allow transfers to KrisFlyer, Etihad Guest, United MileagePlus, etc.).
- Hotel stays (e.g., transfer points to Marriott Bonvoy, IHG One Rewards, Club ITC).
3. Complimentary Memberships
Some credit cards offer premium memberships:
- Marriott Bonvoy HDFC → Silver Elite Status + 10 Elite Nights.
- HSBC Taj Credit Card → NuePass Taj InnerCircle Platinum.
If you’re loyal to these brands, these cards can provide significant value.
4. Category-Specific Benefits
Choosing cards based on spending patterns can help maximize rewards:
- UPI Payments → Tata Neu Infinity HDFC (1.5% NeuCoins), RuPay Credit Cards (2% rewards).
- Movies → RBL Play Card (2 free movie tickets/month).
- Bill Payments → Airtel Axis (up to 25% cashback on Airtel, 10% on electricity/gas).
- Travel → Amex Platinum Travel, Axis Atlas.
5. Managing Multiple Credit Cards Effectively
To maximize benefits, most people keep 3-4 credit cards. Here’s how to manage them:
- Use a clear strategy – which card for what category.
- Automate bill payments (keep 5-day buffer if using third-party apps).
- Regularly check statements for unauthorized spends.
- Avoid overspending just because you have a higher limit.
6. Who Should Follow This Strategy?
- If you just need instant discounts/cashback, 1-2 cards are enough.
- If you want to maximize points, lounge access, and category benefits, consider 3-4 cards.
- If you’re new to credit cards, start with 1-2 and expand based on needs.
Having the right mix of cards can help you save money, earn rewards, and enjoy premium benefits!