Book a new Royal Enfield Classic 350 by using a credit card

[kunal65]

Can anyone advise if it would be a good idea to book a new Royal Enfield Classic 350 by paying the full amount (around ₹2.5 lakhs) using my Amazon ICICI credit card, which has a limit of ₹3 lakhs. Will I receive cashback for this purchase, and what charges might I incur? I’m not concerned about a potential drop in my CIBIL score since I already have 10 credit cards across different banks and a CIBIL score above 750.

 

[hitirfan]

Can anyone advise if it would be a good idea to book a new Royal Enfield Classic 350 by paying the full amount (around ₹2.5 lakhs) using my Amazon ICICI credit card, which has a limit of ₹3 lakhs? Will I receive cashback for this purchase, and what charges might I incur? I’m not concerned about a potential drop in my CIBIL score since I already have 10 credit cards across different banks and a CIBIL score above 750.

Small transaction karke phale check karo Customer Care se MCC kya hoga. ajkal kuch transactions ko excess fee lagta hai. Fir dekho Apay Card mai kya limits hai use transaction ke liye, if there will be any excess fee, will you receive cashback for that transaction. wo Showroom wale kahin excess fee to nahi lenge?

 

[RitamModak]

Cashback/Rewards:​

The Amazon ICICI credit card generally offers 1% cashback on offline transactions (non-Amazon).​

• For a purchase of ₹2.5 lakhs, you might receive ₹2,500 cashback.
• Confirm with the dealership if they accept credit cards directly or if the transaction would incur an extra charge (usually 1-2% on the amount for card payments).
  
  Charges and Costs:
• Convenience Fee: Some dealerships charge an additional processing fee (typically 1-2% of the transaction value) for credit card payments. On ₹2.5 lakhs, this could be ₹2,500–₹5,000. Factor this in when calculating the benefit of cashback.
• Credit Limit Utilization: Using ₹2.5 lakhs out of ₹3 lakhs (83%) will temporarily increase your credit utilization ratio, which might lower your CIBIL score slightly. This won’t matter much since your score is already above 750.

Things to Confirm:​

• Ask the dealership about additional charges for credit card payments.
• Check with Amazon ICICI Bank customer care about whether this transaction qualifies for cashback. ( By Doing Some small Transaction ) (some large-value transactions may not be eligible).

If the dealership doesn’t charge extra for credit card payments and the 1% cashback applies, it’s a good option. Given your strong credit profile, a slight temporary drop in the CIBIL score won’t impact you significantly.

Otherwise, compare this with other payment modes like debit cards, financing options, or even UPI for potential savings.

 

[apt]

Can anyone advise if it would be a good idea to book a new Royal Enfield Classic 350 by paying the full amount (around ₹2.5 lakhs) using my Amazon ICICI credit card, which has a limit of ₹3 lakhs. Will I receive cashback for this purchase, and what charges might I incur? I’m not concerned about a potential drop in my CIBIL score since I already have 10 credit cards across different banks and a CIBIL score above 750.

why 2.5L for RE 350 classic? which state?

 

[kunal65]

Cashback/Rewards:​

The Amazon ICICI credit card generally offers 1% cashback on offline transactions (non-Amazon).​

• For a purchase of ₹2.5 lakhs, you might receive ₹2,500 cashback.
• Confirm with the dealership if they accept credit cards directly or if the transaction would incur an extra charge (usually 1-2% on the amount for card payments).
  
  Charges and Costs:
• Convenience Fee: Some dealerships charge an additional processing fee (typically 1-2% of the transaction value) for credit card payments. On ₹2.5 lakhs, this could be ₹2,500–₹5,000. Factor this in when calculating the benefit of cashback.
• Credit Limit Utilization: Using ₹2.5 lakhs out of ₹3 lakhs (83%) will temporarily increase your credit utilization ratio, which might lower your CIBIL score slightly. This won’t matter much since your score is already above 750.

Things to Confirm:​

• Ask the dealership about additional charges for credit card payments.
• Check with Amazon ICICI Bank customer care about whether this transaction qualifies for cashback. ( By Doing Some small Transaction ) (some large-value transactions may not be eligible).

If the dealership doesn’t charge extra for credit card payments and the 1% cashback applies, it’s a good option. Given your strong credit profile, a slight temporary drop in the CIBIL score won’t impact you significantly.

Otherwise, compare this with other payment modes like debit cards, financing options, or even UPI for potential savings.

Thank you so much, sir, for clearing a lot of doubts I had!
Your explanation regarding the charges applicable by the dealer and the benefits of the Amazon ICICI credit card really helped me. If there are no additional charges on credit card transactions, then the cashback makes it a great option for me.

I'm also not too concerned about the temporary dip in my CIBIL score since I already have a total credit limit of nearly ₹7 lakhs. Your advice gave me clarity on comparing other payment modes like UPI or financing options if required.

Thanks again for your detailed guidance!