I happen to save between Rs 1 – 1.50 Lakhs by optimally using the 8 credit cards that I hold currently (at ROI of approximately 10%).. SURPRISED??

1. Let me explain why I have so many cards and their features, one by one.
2. I will however avoid mentioning the interim offers that are launched by these cards as they keep changing. These also add up to my returns, ofcourse, though.
3. So, I hold the following cards:

• American Express Travel Platinum
  • Provided lifetime free to me by Amex along with a free Rs 5,000 Taj Stay voucher (YES, its true !!)
  • I use it for the first INR 4 Lakh spending on my credit cards. A lot to do with the amazing Milestone benefits available!
    • Travel Vouchers worth Rs 7,700 on spending Rs 1.90 Lakhs in anniversary year.
    • On spending Rs 4 Lakhs in the anniversary year, additional travel vouchers worth Rs 11,800 and Taj Experiences Gift Card worth Rs 10,000
    • No significant benefits after the 4L milestone, so I do not use it further.
  • TOTAL BENEFITS on spending Rs 4 Lakhs in a year:
    • Value = 5,000 + 7,700 + 11,800 + 10,000 = Rs 34,500
    • ROI or %Returns for = 8.625% !! – Exceptionally high
  • Domestic lounge access are also available on this card but have not required to use them till now.
• Standard Chartered Ultimate (Visa)
  • Visa Infinite variant, the top Visa card variant in India which comes with a many inbuilt privileges and discounts.
  • ROI of 3.33%, the highest offered for normal spending in India
  • I use this card for all my normal expenses (post initial 4Lakh spending) and for the various high value StanC offers.
  • Lounge Accesses:
    • Domestic lounge access to Visa affiliated lounges
    • Complimentary Priority Pass access to primary and Add-on cardholders basis previous month spending
  • The points earned can be used for purchasing various vouchers across categories and hence pretty useful.
  • Ideally on spending a total of INR 2L, I end up saving around 8–9K per year.
• Yes First Exclusive (Mastercard)
  • Mastercard World variant, its 2nd highest (since the launch of Master Elite) in India
  • ROI of 2.50%, can be spent across movies, flights, hotels etc.
  • I use this card during any offer period (like 5X or 10X points) as well as for lounge accesses with my family, across the world.
  • Lounge Accesses:
    • Provides unlimited domestic Mastercard lounge accesses
    • Unlimited complimentary Priority Pass lounge accesses
    • This feature applies to the primary and 3 Add-on cardholders, the only card in India offering this feature.
  • I saved around Rs 60,000 in the last 2 years by spending around 10L on this card, including 10X offers (25% effective RoI) and spend based bonus point offers. I have this card lifetime free to me, so saving on the annual fee as well.
• Amex Jet Airways Platinum
  • Platinum variant of Amex, co-branded with Jet. No annual charges as I am a Jet Platinum holder !
    • I used it for any travel that I had on Jet Airways; earned me 16 miles per Rs 150 spent.
  • Lounge Accesses:
    • Allows unlimited lounge access to Amex Lounge at Delhi IGI Airport Terminal 3 – one of the best lounges I have ever been to with hot food & drinks made to order (and FREE) !!
    • Allows lounge accesses to these Domestic airport lounges.
  • I have earned more than 1,11,000 JP miles and vouchers worth Rs 30,000 (Tanishq and Bookmyshow) in the last 3 years by spending around Rs 10L on this card.
    • At a value of 40paise per JP Mile, it is a ROI of 6.10%.
• ICICI Bank Jet Airways Sapphiro (Amex & Visa variants)
  • No annual charges again as I am a Jet Platinum holder !
  • I used it for the offer of Buy one ticket and get up to Rs 500 off on the second ticket, twice every month on BookMyShow (BMS).
    • This feature is available 2 times each on Amex and Visa variants, so a saving of Rs 2,000 on movie tickets every month or Rs 24,000 per year.. Being a movie buff, I utilize this fully !
    • Also offers Rs 400 off on Rs 1,500 on non-movie events on BMS, additional saving of Rs 4,800 per year.
  • Lounge Accesses:
    • Dragonpass membership: 2 international airport lounge visits and 2 spa sessions at selected airports in India every year, through complimentary DragonPass membership.
    • 2 lounge accesses per quarter to Visa / Amex affliated lounges.
  • I saved Rs 24,000 (movies) + Rs 4,000 (non-movies) + Rs 1000 (as JP Miles) = Rs 29,000 on spending Rs 50,000 in the previous year, i.e. an obscenely high ROI of 58%.
• Standard Chartered Super Value Titanium (Mastercard)
  • Provided lifetime free to me by Standard Chartered ! 😉
  • I use it for the benefit of 5% cashback on utility and fuel bill payments, up to Rs 500 per month (Max Rs 100 per transaction).
  • Lounge Accesses:
    • No Free lounge accesses
  • I save Rs 6,000 each month on paying my and my parents mobile, electricity bills as well as fuel bills, at a ROI of 5%.
• IndusInd Bank Jet Airways Odyssey (Amex & Visa variants)
  • I applied for it for the 15,000 JP Miles offered as a joining benefit with the card along with a free Jet Airways base fare waived off ticket.
    • No annual charges again as I am a Jet Platinum holder, so a saving on Rs 5,900 (5000 + 18% GST joining fee)
    • I also use it to save on offers by IndusInd bank, as well as exclusive Visa and Amex offers.
  • Lounge Accesses:
    • 2 lounge accesses per quarter to Visa / Amex affliated lounges.
  • At a value of 40 paise per JP Mile and other benefits, I have saved Rs 15,000 on a spending of INR 25,000 on this card, a ROI of 60%.
    • However, it is so high only because of the joining benefits and the earn rate is not so significant.
• HDFC Bank Regalia Credit Card (Mastercard)
  • Another card provided lifetime free, so saving straight away on the joining fee again !!
  • I use this to book flights, hotels and shopping on HDFC Smartbuy:
    • 10X (10×1.33 = 13.33%) returns on flights, hotels as well shopping websites like amazon, flipkart etc.
  • Lounge Accesses:
    • 12 complimentary lounge accesses per year to Visa / Mastercard affliated lounges.
    • 6 complimentary visits per year to International Priority pass lounges.
  • It has helped me save approximately Rs 13,000 on a spending of INR 1,00,000 using Smartbuy, a ROI of 13%.
• While these are all the cards that I have and have saved a lot, one card that I really like is HDFC Diner’s Black card. It offers returns up to 33.33% and is a stylish high-end spending card. In the market, I consider it to be the best return providing card, though I have not been able to lay hands on it due to its eligibility criteria !!

CONCLUSION:

1. If you look at all the cards that I have and the savings on each, it is evident how I am able to save around Rs 1–1.5 Lakhs on a spending of approximately Rs 10–12 Lakhs per year by spreading out the spending and optimally utilizing the credit cards.
2. I have excluded the savings that are generated due to waiver of joining fee. If that is added, it would create an additional savings of approximately Rs 50,000.
3. People may argue with the valuation of JP Miles. However, I have generated and redeemed at values higher than 50 paise per JP mile. However, since the current redemption value on JP website is only around 20 paise, I have taken an average value of 40 paise for the calculation.
4. Choosing the right credit card and proper use of the same should form a very important part of your financial planning and must be dealt with seriously to maximize gains.

Advice: All these returns are subject to timely repayment of the credit card dues. Please ensure you repay it on time or all your returns would be negative as the interest rate charged by most cards for late payment are almost to the tune of 40% p.a.

Hope I have answered your query. Wish you good luck to maximize your returns !!