Hi,
I'm 24M, earning >1LPM, CIBIL 796. Currently I have 3 cards:
SBI SimplySave (2+ years)
HDFC Diners Club Privilege (1+ years, LTF)
Scapia (< 4 months)
Major Spends:
UPI, Online Food Delivery, Amazon once in a while.
Usage Pattern:
SBI: Use it mostly as Rupay UPI or on Amazon sales with SBI offers. Occasionally use it on Zomato as well. Spending enough to meet the annual fee reversal criteria.
Diners: Used it mainly on Amazon sales with HDFC offers. Used it to buy Zomato Smartbuy vouchers. But realized Swiggy gives 5x rewards directly so split usage there. Use the B1G1 BookMyShow once in a while.
Scapia: Never used at all. Just got it since my friend referred and this was an LTF Card.
The Problem:
As per recent tax changes, Pluxee (Sodexo/Food Allowances) can be opted for tax reduction. Around 1L per year. This will cut majority of my card spends through Zomato/Swiggy since I would be using Pluxee to pay going forward. I might still be able to reach spend criteria for SBI but it will be difficult in general.
My Idea:
Get SimplySave into LTF or replace with some other SBI LTF, preferably some Visa Card. ( Looks difficult considering SBI)
Use Scapia as Rupay UPI, to prevent closure due to inactivity
Use HDFC and be happy with the lower reward points earn.
What can I do to optimize my spends? Should I close some of these cards? Or replace with something else itself?