Is Axis Atlas worth it? Burgundy, HDFC Smartbuy and free Udaipur trip

Summary

The video discusses credit card strategies for maximizing points and rewards. It highlights the importance of understanding exclusions in expenses and how to strategically utilize cards like AMX and Smart Buy for travel and retail spending. The speakers emphasize the value of redemption rates, recommending a threshold for using points. Regular evaluation of credit cards is advised to maintain a healthy credit score. Predictions about future changes in rewards programs are also shared, alongside a call to subscribe to the channel for more insights.

Takeaways

• 😀 Credit cards have specific exclusions that affect point accumulation, including rent, government spending, insurance, utility bills, and fuel.
• 😀 AMX points are primarily used for travel and can be converted into hotel and airline points, but users should ensure they get a favorable conversion rate.
• 😀 The Axis Atlas card is seen as a useful tool for retail spending and offers additional benefits for dining.
• 😀 It's important to meet spending milestones on credit cards, particularly for AMX, to maximize rewards without overspending just to hit targets.
• 😀 Smart Buy points are treated as cash and can be used when AMX points do not provide a satisfactory value for redemption.
• 😀 Users should regularly evaluate their credit card strategy and adjust their spending based on the benefits and exclusions of each card.
• 😀 The discussion highlights the importance of knowing the value threshold for point redemption, typically around 0.7 for AMX points.
• 😀 There are expectations of changes in credit card offerings, particularly regarding point transfer bonuses, which may not happen this year.
• 😀 Users should focus on maximizing their rewards while being mindful of their credit score, particularly when closing credit cards.
• 😀 The speakers encourage ongoing education about credit card benefits and remind listeners to subscribe for more insights.

Q & A

What are the key factors to consider when choosing a credit card?

Key factors include the types of rewards offered (e.g., cash back, points for travel), exclusions in spending categories (like fuel and utilities), and the ease of reaching milestone spending thresholds.

How do AMX points compare to Smart Buy points in terms of usage?

AMX points are prioritized for travel bookings, particularly when their value exceeds 0.7. Smart Buy points are treated like cash and used when AMX points do not provide good value.

What is the importance of reaching milestone spending on credit cards?

Reaching milestone spending can unlock additional rewards, but it should be done thoughtfully without overspending simply to meet the threshold.

Which credit card does Anol prefer for travel bookings?

Anol prefers using AMX points for travel bookings when the redemption value is high, and resorts to using Smart Buy points when AMX points do not offer adequate value.

What are the spending exclusions commonly found in credit cards discussed in the video?

Common exclusions include fuel purchases and utility bills, which do not contribute to point accumulation or milestone rewards.

How do the speakers suggest managing multiple credit cards?

The speakers advise regularly evaluating the benefits of each card and ensuring they align with personal spending habits, while also being cautious not to close older cards to protect credit scores.

What is the significance of booking through Marriott points?

Booking through Marriott points can offer good value, but the speakers suggest only doing so when the conversion rate is favorable, typically above 0.7.

What predictions were made regarding Marriott point transfers?

The speakers predict that the 30% Marriott bonus transfer may not happen this year due to previous AMX promotions that may have increased point distribution too much.

How should consumers approach spending on credit cards to maximize rewards?

Consumers should spend strategically, focusing on categories that yield the best rewards, and only spend to meet milestones when they can do so without unnecessary expenditures.

What should consumers do if they find that their current credit card strategy isn’t yielding expected benefits?

Consumers should reevaluate their credit card usage, considering closing or switching cards if the benefits do not align with their spending patterns or if better options become available.