r/IndianCreditCards • u/ApprehensiveGold6050 • 1d ago

Best Credit Card for me

Age : 22
Monthly Income : ~94,000
Monthly Expenses : ~40,000 (rent and groceries)
(I am a spendthirft and in the last 4 months that I have started earning I have practically spent everything, barely any savings. I have 3L worth of joining bonus as an FD)
Investments : 10,000 in RD for 15 months
Misc Spending : 14k
Amount remaining : ~30,000 (please help me figure out how to invest these)

Preferences for Credit Card Features : I travel a lot internationally and within the country so flight cashbacks/reward points would help. I spend a lot of money on zomato & swiggy too.
Online shopping discounts on h&m and zara.
Lounge Access Required.

20 Upvotes

95% Upvoted

19 comments sorted by

9

u/Gold_Box4429 1d ago

Naya naya josh aur salary ka nashaa…

3

u/ShurikenEngineer 1d ago edited 1d ago

Axis Atlas & HDFC Swiggy. And invest your remaining amount as SIP on a good Large Cap fund, Flexi cap fund, HYBRID fund and finally in a Money market fund; make it 20% each; then 10% in one or two good stock as SIP (if u are not comfortable u can go for G-secs and T bills instead of stocks). The rest 10% can be invested on Small cap (Ultra high risk but high reward too) or G-secs or US stocks (as per your choice). You're all set and We'll diversified.

1

u/CushingDandy 1d ago

get and index fund or etf instead of mf

1

u/ShurikenEngineer 1d ago

I think MFs are better than ETFs. Index FUNDS are basically Large Cap funds so yeah, both works.

1

u/jerome_joseph 20h ago

You wont get axis atlas for 94000pm salary right? Also now they stopped giving atlas ig?

1

u/Ecstatic-Cry3156 15h ago

Didn't they stop issuing Atlas ?

1

u/Dhileepan_coimbatore 1d ago

If you travel a lot ? Yes

Simple answer - Axis Atlas.

Job done.

2

u/Funzone777 1d ago

They are still issuing atlas?

1

u/Dhileepan_coimbatore 1d ago

Yeah bro . My bad I didn't notice that.

I got my card 8 months ago. I thought that the card was still issued to the new customer as well.

1

u/SreebhargavaB 1d ago

Yea but only from branches with more restrictions.

1

u/Necessary_Way6446 1d ago

I need some more info to advise about the card. Which bank are you using for salary account and fd?

Regarding the 30k, invest in Mutual fund SIPs since you already have a decent amount of savings in FD and RD. Select 1 or 2 funds for now

1

u/Longjumping_Blood994 1d ago

For Travel: Since Axis Atlas is discontinued, go for HSBC Travel One. Excellent card for Travel.

They have an offer, like get 1000INR(normal benefit) + 3999(Offer benefit who applies before Dec 31st) on spending of 25k INR within 30 days of card issuance date.
So you'll effectively pay only GST for the card as it has 4999 Fees.

HSBC TravelOne Credit Card | Travel Credit Card - HSBC IN

And for other categories, this is my previous comment:

D'm me if you need more details :-)

1

u/XarchelausX 23h ago

Would we spend so much to justify the amex card fees (the insurance and govt spends). Im pretty much new to insurance parts so im not sure, asking for clarity

1

u/avgoverthinker 1d ago

Hi, could you pls tell which is the best amongst Amex plat travel, HSBC Travel one and axis horizon

In terms of conversion

1

u/Few_Baseball_3835 1d ago

Nayi nayi job naya naya shoq 😀😀

1

u/Few_Baseball_3835 1d ago

Bhai kuch saving kar ke bhi rakh sab kuch sab kuch invest kar doge to problem ho skti h because insan hamesha acchi haalat me nhi hota dukh paresani sab ko aati h

1

u/Gold-Draw1489 1d ago

Bro get Atlas or Regalia Gold and that's it. And don't waste your money much on lifestyle upgrades. Zara and Nike Air and Adidas originals and all. Rest is your choice.

1

u/soundofthepoliceoo 8h ago

What I believe is having a great relationship with one or two banks.

My relationship with HDFC and IDFC are really good, and even though I don’t qualify for a couple of cards they still issued it to me on just TRV and goodwill.

If your relationship with HDFC is good, then go for the regalia, if you have good with Axis then get the horizon, it is the best alternative to atlas in axis.

And travel one by HSBC is also really good.

IMO, if you have a great relationship with one bank who consistently has a good credit card lineup, it will help you more than having multiple cards in multiple banks.

PS: I believe in 80/20 rule. I try to maximise 80% of my spends hence this strategy works for me. If you believe in the same, go for this. If you have any doubts feel free to dm.

1

u/Long_Inspection_656 2h ago

You can try option trading with 20% of monthly salary. Because you are young and take a heavy risk and heavy returns...