You can't become rich using a credit card

Whenever someone asks me for a recommendation for a #CreditCard, I always start with a caveat:
"You cannot become Rich using a Credit Card."

Many people don't like hearing this.
Because the #finfluencers have shown a very different story:
Luxury vacations! Business class flights! Even 25% returns on ULIPs!

Recently, #HDFCBank #Infinia devaluation reinforced my point.
One of the most premium and aspirational Credit Cards in India saw another change in its reward structure.

For years, people have chased this card.
Some have parked lakhs with the bank, just to get an invite.
There are many interesting stories on what all people have done to get this card!

Over the last year, HDFC has been gradually tightening the benefits:
- Bonus reward structure was changed, only to be reverted post massive backlash
- Spend requirements increased to 18 lakhs in a Financial year, just to maintain the relationship or maintain a TRV of 50 lakhs with the bank!

The latest one could mark the end of Infinia craze!
#SmartBuy reward earning has now been capped to only 3000 per month on brand vouchers! One of the most popular ways to earn bonus points!

And this is how the Credit Card industry works.
There is no permanent "best card."
Banks can change:
Reward points! Redemption value! Eligible transactions! Terms & conditions!

Credit Cards are excellent financial tools if used correctly.
They can save money.
They can provide convenience.
They can offer benefits.
But they cannot create wealth!
I know finfluencers say otherwise, but they can say anything to gain #eyeballs!

#MoneyMinusNoise.
The best Credit Card is not the one with the biggest rewards.
It is the one that fits your lifestyle without controlling it.

If you're looking for no-nonsense, honest recommendations around #PersonalFinance, #Taxation, and Credit Card Optimization, feel free to send me a message.