RuPay cards - pros & cons
What do you think are the positives and negatives of using RuPay cards, which have increased in circulation?
Isaiah Dean
Stealth
a year ago
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.
Dezi Taye
Stealth
a year ago
Why do you not value them?
Jordon Nadeen
Stealth
a year ago
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.
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0% convenience fee (this I know for debit) but I guess not every payment gateway supports it well yet
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