Kotak 811 Super Debit Card
- Reward: Offers up to 5% cashback on online spends (capped monthly, often on select categories like bill payments, streaming, etc.).
- UPI Compatibility: Can be added to UPI apps like Cred/CheQ to pay CC bills.
- Strategy: Use this debit card via apps like CheQ to pay your credit card bill. CheQ charges a 0.59% convenience fee, but if the 5% cashback applies, you're still profiting.
- Benefit: Certain HSBC debit cards (like those for salary accounts) give 5% cashback on utility/bill payments.
- Platforms: Can be used on MobiKwik or Cred for bill payments (check eligibility).
- Limitations: Cashback is usually capped monthly (e.g., ₹250-₹500 per billing cycle). Check HSBC offer T&Cs.
Example Calculation:
Let’s say you pay a ₹10,000 credit card bill via such an app:
- CheQ Convenience Fee: ₹59 (0.59% of ₹10,000)
- Cashback (5% of ₹10,000): ₹500
- Net Gain: ₹500 - ₹59 = ₹441 profit
This strategy is profitable only if:
- The debit card cashback applies to credit card bill payments (some banks exclude them).
- The cashback cap isn’t already exhausted.
- You verify cashback offers are active that month.
Cautions:
- Always read the latest cashback terms for your debit card.
- Platforms like Cred or CheQ may not be supported by all banks.
- HSBC and Kotak can change eligible MCC codes (merchant category codes), affecting cashback eligibility.
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