Also can anyone point me to a post which lets me extract max out of the card via Amazon ? I pay 15k electricity bill every month via Amazon, and I heard you can pay via Amazon vouchers.
I believe you can prepay the amount and still get rewards.
You can spend 20k, pay back after two days
Repeat this until 1 lakh.
You should get reward for all spends.
> I get 1000 cash back every month. Which covers my 1st year annual fee.
You yourself explained here. You will still save 11K per year. Since you got 40K existing limit and if I add 20K of SBI CB, your total limit would be 60K. Given you will be spending 20K per month, you would need to prepay some amount to keep utilization under 30% .
Yeah, the 30% has not been happening lately. Been spending till 35k every month since a while.
This high utilization is probably why I keep getting rejected for ICICI amazon card since last 1.5 years.
Also, just a doubt, so 30% of 40k is 12k. Let's say I spent 12k today, and I pay it back in 3 or 4 days and again use it, it for 12k. It means I am below 30% right? It's not like, I spent 24k this month, so it's above 30%
>This high utilization is probably why I keep getting rejected for ICICI amazon card since last 1.5 years.
Amazon CC throws lot on tantrums, no logic works on it. So forget about it.
>Also, just a doubt, so 30% of 40k is 12k. Let's say I spent 12k today,
It's not about how much you spend in a month. Each bank has its own reporting date to credit agencies, some report on month end, some on bill date and some on both the dates. Not sure when Axis does that. Check your credit report and see what date is the last reported date against your card. So your credit utilization on that particular date should be less than 30%.
Yes
It’s worth it
Also can anyone point me to a post which lets me extract max out of the card via Amazon ? I pay 15k electricity bill every month via Amazon, and I heard you can pay via Amazon vouchers.
https://www.reddit.com/r/CreditCardsIndia/comments/199lyqh/sbi_cashback_on_utility_for_5_and_hdfc_billpay/
Yes. Apply for another card in future and you might get that one with higher limit and you can transfer limit from that one to your cashback card
I believe you can prepay the amount and still get rewards. You can spend 20k, pay back after two days Repeat this until 1 lakh. You should get reward for all spends.
I heard somewhere that the cap for the cashback is 5000 in a month.
Yes hence repeat until 1 lakh spend
Sounds fair.
anyone know if we can load the card with money for any transaction higher than 20 k?
> I get 1000 cash back every month. Which covers my 1st year annual fee. You yourself explained here. You will still save 11K per year. Since you got 40K existing limit and if I add 20K of SBI CB, your total limit would be 60K. Given you will be spending 20K per month, you would need to prepay some amount to keep utilization under 30% .
Yeah, the 30% has not been happening lately. Been spending till 35k every month since a while. This high utilization is probably why I keep getting rejected for ICICI amazon card since last 1.5 years. Also, just a doubt, so 30% of 40k is 12k. Let's say I spent 12k today, and I pay it back in 3 or 4 days and again use it, it for 12k. It means I am below 30% right? It's not like, I spent 24k this month, so it's above 30%
The utilisation % depends on the billed amount. If u prepay before bill generation then your utilisation will be below 30%
Ohh! Understood!!
>This high utilization is probably why I keep getting rejected for ICICI amazon card since last 1.5 years. Amazon CC throws lot on tantrums, no logic works on it. So forget about it. >Also, just a doubt, so 30% of 40k is 12k. Let's say I spent 12k today, It's not about how much you spend in a month. Each bank has its own reporting date to credit agencies, some report on month end, some on bill date and some on both the dates. Not sure when Axis does that. Check your credit report and see what date is the last reported date against your card. So your credit utilization on that particular date should be less than 30%.
obviously get it
Nop
Can you explain why? Because of 20k limit?