HDFC Diners Black and the IIT alumni perk

Yesterday, my carpool partner was an alum from #IITKanpur.
How did I find out?
Through her #HDFC #DinersBlack Card (aka DCB). 😄

Yes, there was a time when HDFC Bank used to offer premium #CreditCards, Lifetime Free to alumni of a few selected colleges, and the college name is prominently printed in front of the Card!

Knowing my interest in credit cards, the conversation naturally drifted towards the topic of Premium Credit cards, and she asked:
"How does one get HDFC #Infinia?"

I asked a simple question:
"How much do you spend on your card every month?"
The answer?
Less than ₹75,000.

Had to disappoint her by explaining the current criteria, where one needs to have an annual spending of ₹18 lakhs to maintain the Infinia relationship.

Then came the obvious question:
"Are there any workarounds to achieve this milestone?"

Welcome to the world of "#ManufacturedSpending."
People explore various methods to increase spending and hit milestones.
(Some are smart. Some are questionable. Some require a spreadsheet bigger than your tax calculations 😄)
Historically, people have explored options like wallet loads, tax payments through cards, and rent payments using credit cards, and a few more loopholes.

But there is a catch.
Many such transactions involve additional charges and no #Reward points.
The math needs to make sense before jumping in.

And then comes the bigger #Risk.
#Banks can change the rules anytime.
Reward structures can change.
Redemption values can change.
Eligible spends can change.

The strategy that works today may not work tomorrow!

Then she asked me:
"Would you suggest someone do all this to get Infinia?"
My answer was simple:
Probably not.
Because the biggest risk is not paying a few extra charges.
The bigger risk is changing your #lifestyle just to satisfy credit card milestones.
And that can create a bigger hurdle in your journey towards #FinancialIndependence.

Finally, she decided:
"A Lifetime Free Diners Club Black is good enough for me. I can't do so much for Infinia!" 😄

Sometimes the best financial decision is knowing when to stop chasing!

#MoneyMinusNoise.
Credit cards are #tools.
Used well, they can save #money.
But they cannot create #wealth.

The best credit card is not the one with the biggest benefits.
It is the one that fits your life.

I work with individuals seeking clarity on #PersonalFinance, #Taxation, and Credit Card Optimization. If you need help with your situation, feel free to send me a message.