Should I discard my Amex membership card or is it still relevant?

[sachin2020]

Hi
Me and my wife are using following credit cards
HDFC Regalia
HDFC Millenia
IDFC First Wealth with UPI addon
Amazon Pay ICICI
All of above are lifetime free cards with no annual fee.

In addition, I have a pretty old American Express Membership Rewards Card with annual fee of 4500 (waived if spent 1.5 Lacs in prev year) I calculated the reward rate of 4.8% on that if spent roughly 20k per month.

My question is, considering all of the new options available now a days where cards like amazon pay and hdfc millenia gives 5% cashback directly, is it still beneficial to keep Amex card. or should I discard that. Because if I don't spend 1.5 L on that in a year, they charge me 4500 and if I don't spend 20k in a month, I don't get even 4.8% reward rate.

Thanks in advance

 

[Yahiya]

How did you get HDFC cards as lifetime free?

 

[sachin2020]

How did you get HDFC cards as lifetime free?

Well, I got a Regalia First card in 2017 and there was an offer like spend X amount within 90 days of signup and it will be lifetime free. Later they changed it from Regalia First to Regalia on same terms and conditions. So it is lifetime free for me
The Millenia one has a negligible fee of 500 I think but that gets waived off on annual spend of 30k, which is simple, so it is kind of free.

 

[Yahiya]

Well , thats nice . Thanks for your reply

 

[Yahiya]

Hi
Me and my wife are using following credit cards
HDFC Regalia
HDFC Millenia
IDFC First Wealth with UPI addon
Amazon Pay ICICI
All of above are lifetime free cards with no annual fee.

In addition, I have a pretty old American Express Membership Rewards Card with annual fee of 4500 (waived if spent 1.5 Lacs in prev year) I calculated the reward rate of 4.8% on that if spent roughly 20k per month.

My question is, considering all of the new options available now a days where cards like amazon pay and hdfc millenia gives 5% cashback directly, is it still beneficial to keep Amex card. or should I discard that. Because if I don't spend 1.5 L on that in a year, they charge me 4500 and if I don't spend 20k in a month, I don't get even 4.8% reward rate.

Thanks in advance

Well , these 5% cards you are talking about are to only specific spends like Myntra , Amazon and Flipkart etc . Also you have. Cap of 1000 rs on Millennia.

Best part about Amex is that when they charge you Annual fee , you can talk to customer care and talk about waiver if Annual fee and they would do it with a very minimal spend condition. I have done it once.

As far as rewards go , you can convert the points into Club vistara points at good rate of conversion.

I would suggest , since the other cards are life time free , use the Amex for purchases other than the ones you would get better rewards in other cards and spend the rest with Amex

 

[Yahiya]

One more add up is that you can get Millenia and discard the Amazon ICICI as it gives 5 % on both Flipkart and Amazon websites

 

[sachin2020]

Well , these 5% cards you are talking about are to only specific spends like Myntra , Amazon and Flipkart etc . Also you have. Cap of 1000 rs on Millennia.

Best part about Amex is that when they charge you Annual fee , you can talk to customer care and talk about waiver if Annual fee and they would do it with a very minimal spend condition. I have done it once.

As far as rewards go , you can convert the points into Club vistara points at good rate of conversion.

I would suggest , since the other cards are life time free , use the Amex for purchases other than the ones you would get better rewards in other cards and spend the rest with Amex

Thank you for the response! It gave me some more clarity. You are right. Wherever I am getting direct 5% rewards, I can use those cards else on regular spends, I should use Amex to get 5%.
About discarding the Amazon ICICI, Actually I do a LOT of purchase on Amazon, and almost no purchase on Flipkart. Moreover that millenia card has capping of 1000 per month where as Amazon ICICI has no capping. So I am keeping both

 

[Rohit Pardasani]

Why they are asking for too many documents, i hv already submitted salary slips 4~5 times , bank statements .
Now they are asking ITR and form 26 AS.
I don’t understand when my salary slip and bank statements prove well above required earnings …
Why asking more documents that too repeatedly?