RuPay cards - pros & cons

What do you think are the positives and negatives of using RuPay cards, which have increased in circulation?

14mo ago

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ZoomyMuffin

Stealth14mo

For RuPay Credit cards (options increasing exponentially every month), I can pay using Credit at local kiranas for small expenses like tea etc. Have planned to start keeping a lower balance in my bank account ever since.

Rewards and cashbacks are less but I don't value them anyway.

QuirkyNugget

Stealth14mo

Why do you not value them?

ZoomyMuffin

Stealth14mo

Kitna hi kamaa loge? It is too much effort and discipline for too small rewards. Banks keep on changing rewards, so you have to adapt your spending patterns as well. And paying CC bills over 1L in the long term invites red flag from tax authorities. Manufactured spends and cashbacks would then be charged income tax rate.

Back of envelope calculations: A generous 5% overall cashback would yield you 1L on spends of 20L. At that spending (or even at 10L) you can easily save 1L by omitting some spends.