What Credit Cards You Should Have by INCOME? [Detailed Review]

Summary

This transcript discusses the benefits and strategies of using multiple credit cards, focusing on maximizing rewards through cashbacks, vouchers, and travel. The speaker shares personal experiences and recommendations for different spending levels, emphasizing the importance of discipline to avoid credit card debt and the use of concierge services for unique benefits.

Takeaways

• 💳 The speaker owns multiple credit cards, possibly over a dozen, and manages them to maximize rewards and benefits.
• 💰 The speaker aims for a 7-8% return on their credit card spending, which can vary depending on the card and spending habits.
• 🏦 Credit card rewards can be categorized into cashbacks, vouchers, and travel-focused rewards, with the latter offering the highest potential returns.
• 🛍️ For those spending around 5 lakh rupees annually, a cashback card like the Amazon Pay IC card is recommended, especially for beginners.
• 🏨 For higher earners with 15-20 lakh rupees annual income, travel-focused cards like the American Express Platinum Travel card are suggested for maximizing travel rewards.
• 🏢 The HDFC India card is highlighted as a top choice for its base reward rate of 3.3% and additional benefits like 5x reward rate on Amazon Pay vouchers.
• ✈️ The Club Vistara Infinite card from Access Bank offers free business class tickets and priority airport services, making it valuable for frequent flyers.
• 🌐 The Axis Atlas credit card is recommended for those with annual spends of 15 lakh rupees, offering bonus miles and high reward rates on travel spending.
• 🎁 The American Express Platinum charge card, despite its high annual fee, provides significant benefits like Taj vouchers, hotel memberships, and concierge services.
• 📊 The speaker emphasizes the importance of managing credit utilization and making timely payments to maintain a good credit score, suggesting not to exceed 30-40% of the available credit limit regularly.
• 📈 The speaker uses social media and public forums to stay updated on the best credit card deals and redemption opportunities, suggesting that planning and research are key to maximizing rewards.

Q & A

What is the average return rate one can expect from using credit cards for expenses?

The average return rate one can aim for is between 7 to 8% on their expenses, depending on the credit card rewards program.

What are the three main types of credit card rewards mentioned in the script?

The three main types of credit card rewards are cashbacks, vouchers or gifts, and travel-focused rewards such as domestic or international travel and hotel stays.

How does the cash back reward system work on credit cards?

Cash back rewards work by providing a percentage of the spent amount back as a statement credit, for example, 2% cash back on a 100 rupee spend.

What is the benefit of using points to get vouchers or gifts from credit card rewards?

The benefit of using points for vouchers or gifts is that it allows cardholders to receive items or discounts on shopping platforms like Amazon or Flipkart without directly paying out of pocket.

How can one maximize rewards in the travel-focused category of credit card rewards?

One can maximize rewards in the travel-focused category by using points for high-value redemptions such as luxurious holidays or stays at premium hotels, which might not be affordable otherwise.

What is the recommended approach for someone with an annual spend of around 5 lakh rupees on choosing a credit card?

For someone with an annual spend of around 5 lakh rupees, it's recommended to look for a cash back card, such as the Amazon Pay IC card, which offers simplicity and rewards on Amazon purchases.

Why is it important to be mindful of spending habits when using credit cards?

It's important to be mindful of spending habits to avoid credit card debt, which is one of the most expensive forms of debt, as interest rates can be as high as 30 to 40% on outstanding balances.

What are some of the benefits of the HDFC Infinia card mentioned in the script?

The HDFC Infinia card offers a base reward rate of 3.3%, 5x reward rate on Amazon pay vouchers, and the ability to redeem points for Indigo flights, making it beneficial for frequent flyers.

How does the American Express Platinum Travel card benefit its users in terms of travel rewards?

The American Express Platinum Travel card offers bonus points on spending, high-value redemption options for hotels and flights, and additional perks like Taj vouchers, making it a strong choice for travel-focused rewards.

What is the significance of the concierge service provided by American Express Platinum Charge card?

The concierge service, or 'con,' is a significant benefit that provides personalized assistance for various requests, from booking hard-to-get reservations to providing immediate help in emergencies.

How does the credit utilization ratio affect one's credit score when managing multiple credit cards?

The credit utilization ratio should ideally not exceed 30-40% of the available limit on a card to maintain a good credit score. Regularly exceeding this limit or missing payments can negatively impact the credit score.

Outlines

00:00

💳 Maximizing Credit Card Rewards

The speaker discusses the number of credit cards they own and the returns they get from using them, emphasizing the importance of spending habits and life stage in determining rewards. They mention that rewards can range from 2% cashback to 30% on travel, with an average target of 7-8% returns. The rewards are categorized into cashbacks, vouchers, and travel-focused rewards, with the latter offering the highest potential returns. The speaker's family spends 30 to 40 lakh rupees annually, primarily on credit cards, leveraging rewards for luxurious travel experiences.

05:00

🎟 Travel and Credit Card Rewards

The speaker provides insights into the best credit cards for different spending ranges, focusing on the benefits of travel-focused cards for those with higher incomes. They mention the American Express Platinum travel card and the AIS Atlas card as good options for earning substantial rewards. The speaker also discusses strategies for using credit card points for travel, such as maximizing luxurious redemptions and planning holidays based on the best deals available.

10:01

🏨 Top Credit Card Recommendations

The speaker outlines their top three credit card choices based on their experience and rewards structures. They highlight the HDFC Infinia card for its high base reward rate and the ability to earn bonus points through specific purchases. The Club Vistara Infinite card is recommended for its travel benefits, including free business class tickets and priority services. Lastly, the Axis Atlas credit card is praised for its simplicity and high reward rates for travel-related spending. The speaker also mentions the benefits of using social media and public forums to stay updated on the latest credit card deals and strategies.

15:04

💼 Managing Multiple Credit Cards and Their Impact on Credit Score

The speaker shares their approach to managing multiple credit cards, mentioning that they keep track of spending and rewards mentally rather than using spreadsheets. They address concerns about the impact of multiple cards on credit scores, suggesting that closing cards can temporarily affect the score due to a reduction in overall credit limit. However, they emphasize the importance of responsible credit use, such as not exceeding 30-40% of the available limit and making timely payments, to maintain a good credit score.

Keywords

💡Credit Cards

Credit cards are financial tools that allow cardholders to borrow money to pay for goods and services. In the video's context, they are used strategically to earn rewards and benefits. The speaker mentions owning multiple credit cards and leveraging them for various benefits, such as cashbacks, vouchers, and travel rewards.

💡Reward Rate

The reward rate refers to the percentage of cashback or points earned on spending using credit cards. It is a key metric for evaluating the benefits of credit card usage. The speaker discusses aiming for an average reward rate of 7 to 8% on expenses, which is a central theme in maximizing the value of credit card spending.

💡Cashback

Cashback is a reward system where a percentage of the money spent on a credit card is returned to the cardholder. It is one of the three reward types mentioned in the video. For example, the speaker mentions earning cashback on specific spends, such as 5% cashback on certain cards.

💡Vouchers

Vouchers are rewards that can be redeemed for goods or services, often in the form of gift cards or shopping vouchers. In the script, the speaker categorizes vouchers as one of the reward types, such as Amazon or Flipkart vouchers, which can be earned through credit card spending.

💡Travel Rewards

Travel rewards are points or benefits that can be used for travel-related expenses, such as flights or hotel stays. The speaker highlights travel rewards as the most lucrative category, with the potential for high returns, and discusses using points for luxurious travel experiences.

💡Spending Habits

Spending habits refer to the patterns and behaviors of an individual or household regarding their expenditures. The video emphasizes the importance of aligning spending habits with credit card rewards to maximize benefits. The speaker's family, for instance, spends 90-95% of their expenses on credit cards to optimize rewards.

💡Eligibility

Eligibility in the context of credit cards refers to the qualifications or requirements one must meet to obtain a specific card. The speaker mentions that certain cards have high eligibility criteria, such as annual income requirements, which can affect card selection.

💡Co-Branded Cards

Co-branded cards are credit cards that are a partnership between a credit card issuer and another company, often to provide specific rewards or benefits related to the partner company. The speaker discusses co-branded cards with airlines, such as the Vistara cards, which offer travel-related benefits.

💡UPI Cards

UPI (Unified Payments Interface) cards are a type of digital payment card that facilitates transactions through the UPI platform. The speaker mentions owning a Tata Neu Rupe credit card, which offers rewards for spending at Tata group properties, illustrating the integration of digital payments with credit card rewards.

💡Credit Score

A credit score is a numerical representation of an individual's creditworthiness, which can be affected by various factors, including credit card usage. The speaker addresses concerns about the impact of multiple credit cards on credit scores and provides insights on maintaining a good score by managing credit limits and payments.

💡Concierge Service

A concierge service is a personalized assistance program offered by some credit cards, providing help with a wide range of requests, from booking reservations to solving problems. The speaker mentions the concierge service of the American Express Platinum charge card as an example of an intangible benefit that can offer unique experiences.

Highlights

The speaker owns between 2 to 14 credit cards, including some with their mother.

Aims to achieve an average return of 7-8% on credit card expenses through rewards.

Credit card rewards can be categorized into cashbacks, vouchers, and travel-focused rewards.

The maximum rewards are typically found in travel-focused categories, sometimes reaching up to 30% returns.

Family's average annual spending is 30-40 lakh rupees, with 90-95% of expenses on credit cards.

A 7% return on 40 lakh rupees results in 2.8 lakh rupees of travel rewards annually.

For those spending 5 lakh rupees annually, a cash back card like Amazon Pay IC card is suggested.

American Express Platinum Travel Card is recommended for travel-focused rewards under 5 lakh rupees spend.

Eligibility for top-tier cards like HDFC card requires a high annual income and years of waiting.

For earners of 15-20 lakh rupees annually, travel-focused cards like American Express Platinum are suggested.

American Express Platinum offers benefits like 40,000 bonus points for spending 4 lakh rupees in a year.

Utilizing credit card points for luxurious holidays is a strategy to maximize rewards.

Social media and public forums are sources for staying updated on the best credit card deals and redemption strategies.

HDFC card offers a base reward rate of 3.3% and 5x reward rate on Amazon pay vouchers.

Club Vistara Infinite card provides free business class tickets and priority travel benefits.

Axis Atlas credit card is recommended for those with annual spends of 15 lakh rupees, offering high reward rates.

American Express Platinum Charge card, despite its high annual fee, offers significant tangible and intangible benefits.

Concierge services, or 'con', provided by American Express offer personalized assistance for a variety of requests.

UPI cards like the Tata Neu Rupe card offer rewards on spends at Tata group properties.

Maintaining a good credit score involves not exceeding 30-40% of the credit limit and avoiding missed payments.

Transcripts

straight to the point right how many

credit cards do you own 2 3 4 5 6 7 8 9

10 11 12 13 14 in my hand and maybe a

couple of more cards with my mother if I

have to sort of ask you for a number

right now based on the cards you have

what sort of return are you getting out

of these credit cards in a year when

you're investing in debt or in equity

you

ask right similar thing in credit cards

you will know how how much you will get

the only issue is that how much you can

spend and spending completely depends on

what life stage you are in and you know

how much you earn you can start with a

2% reward rate on your credit cards and

go as high as 15 20% also but on an

average I try to get somewhere between 7

to 8% uh Returns on my expenses lovely

and if if I have to ask you what are the

benefits I mean these are the

approximate returns you're getting but

what are the benefits you're sort of

getting out of these cards what are the

rewards which the SPs are giving you so

credit card uh rewards we can categorize

into three different types of buckets

right uh bucket number one uh would be

rewards in the form of cashbacks right

cashbacks basically mean that say if

you're spending 100 rupees you could get

a 2% cash back as a statement credit

second form of reward could be uh using

your points to get a voucher or a gift a

voucher could be an Amazon voucher or a

flip cart voucher or any other shopping

voucher as well right and third form of

third category of reward uh is the

travel Focus rewards basically using

your points to travel you know it could

be domestic travel it could be

international travel it could be hotels

also and where do you get the maximum

amount of rewards it's in this third

category in the first two category it's

very limited so in the first category

for example in the cash back category uh

there are cards that gives you 5% cash

back on specific spends right but that's

the upper limit I would say but in the

third category there is no upper limit

you know in certain years people have

made as much as 30% also on on their

card spends wow in our family our

average uh spending is in the range of

30 to 40 lakh rupees in a year and uh I

try to spend most of it on credit card

so 90 to 95% of our expenses are charged

on credit cards and if you take a

average return rate of say 7% also on 40

lakh rupees you get 2.8 lakh rupees back

which you don't get that back as a cash

back or you know in the form of money

that is something that you can use

towards your travel right so you can

basically do a holiday worth 2.8 lakh

rupees and in in 2.8 lakh rupees you can

do a decent luxurious holiday right uh

for a holiday where in the say a hotel

where the room night costs 40,000 rupees

per night I may not give pay that money

in cash you know no matter how rich I

get right but when you are getting that

through Reward Points it's very easy to

do that right and in early in life you

know I may get to a stage 10 years later

where I can shell out 40,000 rupees per

night in cash but when you can do it

today why wait for 10 years absolutely

people would want to know what would be

the best credit card they can take or

they should take right so we've spoken

about how your spending activity sort of

regulates which credit card you should

probably take so in terms of different

spending ranges uh what would be the

best cards you suggest in say the

multiple spending ranges there from low

to high so let's you know break this

into three different categories okay uh

the we can take the first category of

spends wherein someone is spending 5

lakh rupees in a year so here the

assumption is that you know you're

spending on your basic needs right and

uh you're not spending on anything

luxury so I would suggest you know

someone to look at a cash back card in

this range maybe they can look for a

card which is free so for example the

Amazon pay IC card one of the oldest

cards that I have uh in my wallet also

right this is a very simple to use cash

back card most of us spend money on

Amazon these days right say if you're a

Prime member and you're spending money

on Amazon you get 5% on your shopping

back as a Amazon pay balance for up to 5

lakh person a cash back card probably

makes more sense to start of it

absolutely because number one you are

most likely a beginner in the credit

card space as well right when it comes

to credit cards there are a lot of you

know uh Associated habits also that you

need to take care of right credit card

debt is the most expensive form of debt

now you think about it uh why do these

credit card companies give you so much

reward because when people borrow on

credit card they are easily making 30 to

40% you know uh interest on those uh

outstanding balances so that's where

they earn their money and you know they

reward the people who are uh very uh

disciplined with credit cards right but

if you still want a travel focused card

under 5 lakh rupees spend then American

Express Platinum travel card is your

card but the issue is that uh limited

acceptability so you have to deal with

that challenge another thing to see is

that you know you you may not be

eligible early in your career to get the

best of cards right because say for

example the HDFC inia card that I have I

had to wait like almost 5 to 7 years to

get this card the requirement for this

card today you know it keeps changing

but today it's 42 lakh rupees annual

income wow and now let's go to the next

step of the ladder say someone starting

at 15 lak 20 lakh income uh what cards

would you suggest there which would work

well and what kind of reward benefits

should that person be looking at so this

guy who is earning 15 to 20 lakh rupees

in a year is also in a position to you

know do at least one good holiday in a

year or once in two years right so they

should I would suggest focus on uh

travel focused cards right because uh

you are young and you want to travel I

think I have not seen anyone who doesn't

like to travel especially people in

their 20s and 30s right uh so with that

in mind uh they can look at a couple of

cards which I hold one of them is the

American Express uh Platinum travel card

okay uh this is a silver color card and

the other one is the AIS Atlas card

which I have the American Express

Platinum travel card uh eligibility it's

not difficult you you know uh the income

eligibility is 5 lakh rupees only perom

I think right uh so and you can get it

as a referral so when you ask someone to

refer you for this card it's free for

the first year and you also get 2,000

bonus points that's number one number

two is if you spend 4 lakh rupees in a

car on this card in a year you get

40,000 bonus points and then you get uh

some points on your spends also which is

around 7 to 8,000 uh points on spending

4 lakh rupees that's uh number two and

then you get 10,000 rupes worth of Taj

vouchers as well oh lovely so what you

what can you do with these 50,000 points

so I'll take an example of a recent

holiday that we did in February this

year which is at Western rishikesh it is

a new property opened uh in late last

year somewhere in November or December

and uh they had this introductory offer

wherein you can you know get a room

night for 20 21,000 points per night

right and you went for a two night

holiday to Western rishik 30 uh the room

night is 35,000 rupees per night so the

benefit that you got is worth 70,000

rupees for you know against 40 or 42,000

points correct right that this 70,000

rupees worth of benefit and another 10

000 rupes worth of T voucher which you

can use for a stay at any T property so

you got a return of you know a value of

80,000 rupes on spending 4 lakhs so the

net return here is 20% you really need

to be have to be mindful about you know

which property you you are using it so

most times it happens that you know we

plan our holidays based on the best deal

we are getting in right I think n have

two questions which sort of come to mind

one is that for say someone who wants to

travel once a year for example or maybe

twice say or something like that what is

the best way in terms of how that person

can plan to utilize credit card points

for that travel what what sort of

methodology do you use and how do you

plan your travel and the second part you

talked about moving points to Mar it or

you getting tge vouchers so where do you

sort of get to know about these deals

and how do you look these offers up sure

we try to do the most luxurious uh uh

redemptions possible right because I

will not be you know paying in cash for

that so I'll give you example of a

holiday we did last year in 2022 in

Dubai right so we were in Dubai and

there is a property called almaha yeah

so this property costs uh somewhere

between $1,500 to to to $2,500 per night

and it's an allinclusive property

wherein you know you don't really have

to pay for anything your all your meals

are covered and your stay is covered so

everything is covered in that including

some activities uh so we we stayed there

for two nights and we paid 2 lakh points

the only money that I paid at that

property was 3,000 rupees for you know a

couple of drinks that's it so our the

idea with our holidays and our

redemptions is to you know do things

which you will not be able to afford in

cash you utilize it in a way where you

know a lot of people can enjoy that

holiday right again you really need to

understand uh how what kind of holidays

you want to do right if I have a friend

who does not really like to do these

luxurious holidays so for that person he

can you know use the same amount of

points that I'm using for a luxurious

holiday for a lot more number of nights

in a cheaper Hotel correct right because

you can get a hotel night for 10,000

points per night also against one lakh

points per night right so he can do 10

nights in 10 different properties so if

someone is spending 10 to 15 lakh rupees

in a year I think you can easily do one

holiday at least either hotels or

flights if you're doing economy flights

maybe a combination of both hotels and

flights as well right right so that

completely depends on what you want and

how you want to red

and in terms of where do you sort of

look for these deals uh when you are um

planning these holidays right of course

we understand the deals keep changing

from time to time different hotels might

have different Co transfer ratios Etc so

at the current status what where do you

sort of look for these days so for me uh

social media is my uh Source there are a

lot of websites these days uh where they

keep talking about you know what's new

in the credit card space how are people

redeeming there are lot of public forums

maybe I can share a list with you and

you can put it in the description so

let's let me ask you this if I had to

ask you to choose your top three cards

in the series of cards that you have

what would you sort of say with those

three number one would be the HDFC inia

card uh this card is a good card but

again eligibility is a challenge with

this card but this card gives you a base

reward rate of 3.3% so for every 100

rupees you spend on this card you get

3.3 uh rupees back as points so if you

buy up to 20,000 rupees worth of Amazon

pay vouchers you get 5x uh reward rate

so 5x basically means that uh 16.5%

which is around 3,300 rupees back as

points every point is valued at one

rupee you can't really buy Amazon pay

voucher on the Amazon website there is a

specific website called gyft and you

know you have to go there and buy so

when it comes to maximizing credit card

rewards you have to put some efforts

right so you go there buy the Amazon

voucher so what whatever points I earn I

largely use to redeem it for my Indigo

flights and I have to fly at least once

a month so that it helps me a lot there

uh I don't spend much on this card but

whenever I spend I get 16.5% back from

this card right the second card uh that

I want to talk about is the club vistara

infinite card which is the which is from

access bank it's a co-branded card uh so

this card gives me free business class

ticket for a annual fee of 10,000 rupees

I don't use this card for spending

spending money my primar primary use is

the gold status that comes on this card

right so I take a lot of flights uh to

Delhi as well so this card gives me uh

not only uh priority checking it gives

me Priority baggage it gives me Priority

boarding and the exess baggage allowance

as well so this helps me a lot in you

know uh traveling faster right right and

along the business class ticket is uh

worth more than 10,000 rupees in any any

ways right corre and if somebody does

not want the business CL experience or

the uh you know the gold status they can

look at the lower end cards which gives

you a uh premium economy ticket or the

economy ticket even SBI has a co-branded

card with uh vistara idfc has co-branded

cards with vistara the third card that I

would keep in my portfolio is the axis

Atlas credit card so this is a card

which is very simple to use and if

someone has annual spends of say 15 lakh

rupees I would highly recommend using

this just one card so let us understand

what is the reward structure on this

card so this card comes with a fee of

5,000 rupees perom and on sign up you

get 5,000 miles on this card and on

spending say first three lakh rupees you

get 2,500 bonus miles on spending 7.5

lakh rupees you get another 5,000 bonus

points and then on spending 15 lakhs you

get another 10,000 bonus miles the base

reward rate on this card is uh 2 points

per 100 r that you spend and if you are

using this card for spending on travel

say you're booking tickets or you know

booking a hotel you get five points for

every 100 rupees spent so let us take

the base case wherein you are spending

15 lakhs you earn 30,000 points right 2%

is 30,000 so 30,000 plus 22,500 you got

52,500 points these can be transferred

to a lot of Hotel partners and Airline

Partners uh I generally use my access

points to transfer it to Hotel partner

called eor okay so in eor what happens

is uh when you transfer to eor you get 1

is to two points so 52,000 points I will

get 1 lak 14,000 uh eor points right and

when I'm redeeming hotels on eor one

point is worth 1.8 rupees so I got a

value of around 1.8 lakh rupees on

spending 15 lakh rupees so that's a

little bit more than 10% right once you

spend the 15 lakh rupees what you get is

you also get two airport airport pi Cs

on this C so basically a luxurious car

will come to your house and take you to

the airport so so wherever we don't have

to maximize our rewards in the form of

multiplier uh we just use this card to

spend right so largely any OTC spends

where we are you know traveling anywhere

or shopping or anything mostly it'll be

through this card the other cards I

would keep is the MX Trifecta uh one of

them is the MX gold charge card uh the

second one is the MX uh membership

rewards card right and the third one is

the MX Platinum travel card so these are

the five six cards that I would keep in

my portfolio if you were to ask me which

I I would discard all of the rest so one

question right which is the most

expensive card that you own and would

you recommend it to somebody else so I'm

not spoken about this card yet uh but

this is again from American Express

table it's the Platinum charge card

so I'll tell you what benefits you get

on this card uh when you sign up on this

card uh for in the first year generally

they give you 45,000 rupees worth of Taj

vouchers the annual fee on this card is

60,000 Rupees plus GST so net cost is

70,000 rupees

approximately uh so you get 70 45,000

rupees worth of Taj vouchers but there

are a lot of tangible intangible

benefits also that you get on this card

you get uh gold membership gold status

on Marriot you get get go sat on Hilton

uh you get Taj Epicure membership which

gives you like 20 25% discount on dining

and so on you they also give you a

10,000 rupees worth of Taj voucher every

year on your birthday so you have to be

in the highest spending category to use

this card the most intangible benefit

wherein you know people use this card is

the con so con is basically a you know a

helpl line wherein you can call them and

ask anything you want right and I have a

couple of friends who use conci almost

on a weekly or a monthly basis I barely

used the conage so n in terms of the

concer search which you mentioned you've

said that most mostly your friends use

it more often what sort of things do

they sort of ask from the coner SE which

is which is so let's just take an

example you know from one of my friends

wanted to do a uh you know stay on 31st

December night right in front of the BS

Khalifa and it's very difficult to get a

room night there right but if if you

approach uh American Express con they

can probably get you uh this deal you

are in a problem right say you're stuck

in the middle of the road and something

has happened to your card and you want

them to help so they will send help to

you immediately right so there are uh

you can use it for you know such kind of

experiences basically you call them and

they'll get things done for you or your

personal manager of sorts who has to do

it for you uh the experience obviously

will vary from person to person but

that's the whole day right you call MX

con and they will try to get it done for

you right N I think very recently we've

had these UPI cards which have come up

right do you own one of such yes I do of

course so I got the uh Tata new rupe

credit card so it's a very good card it

gives you uh you know five uh points on

uh money spent at all the Tata group

properties and normal reward rate uh as

if I'm not wrong it's two points per 100

rupees SP so uh whatever UPA spends I

have I have moved on this card now and

uh uh easily it's a between 5 to 15,000

rupees in a month how do you sort of

manage to keep track of the spins and on

what you will spend how much uh is there

some calculation which you do or how do

you sort of approach that yeah so I the

math keeps running in my head I don't

maintain any sort of excel sheets but my

wife keeps asking me whenever she has to

spend money which card should I use

right because she knows that if she uses

some other card uh I will ask her why

did you use that

so uh that math keeps running in my head

and I think one question which comes up

in everybody's mind is or when someone

thinks about having too many credit

cards is about your credit score are you

using your credit cards too much does it

impact your credit score negatively what

is your view and approach on that credit

score does get impacted when you're

closing a card because you know your

overall credit limit is coming down

right right uh so that is the but that's

a temporary impact and it again improves

ideally to keep your credit score you

know the uh you should not spend more

than3 40% of the available limit on a

card if one of it's happening it's okay

but don't do it on a regular basis don't

miss out on your credit card you know

payments uh due

[Music]

date