From cashback to portfolio management: Why high spenders are hiring credit card advisors

Getting the right credit card used to mean comparing annual fees, reward rates, and perhaps lounge access. For a growing number of cardholders, it now resembles portfolio management.

Which cards should you hold? Which one should pay for groceries, insurance, utilities, or a large purchase? Should reward points be converted into airline miles or hotel points, or simply used to settle the monthly bill? When a card gets devalued, what should replace it? And when it is finally time to travel, which redemption route offers peak value?

To answer these questions, a rising crop of platforms and independent consultants—including The Points Code, CardExpert, 1A, and LiveFromALounge founder Ajay Awtaney—now provide personalised advice for a fee.

Digital platforms like SaveSage combine app-based tracking with access to human experts, while apps like FLIP use technology to determine which card in a user's existing wallet works best for a specific swipe.

What are you paying for?

At the entry level, most platforms offer a one-time portfolio review, suggest additions or trims based on spending patterns, and provide basic redemption advice.

• Entry-level & tech plans: 1A’s entry-level plan costs ₹999 for a one-time review over email. SaveSage charges ₹399 annually for its tech-led advisory plan, or ₹1,699 to access human advisors for a year. FLIP and Qubera offer basic automated guidance via free AI chat tools, carrying disclaimers that AI recommendations should be cross-checked.
• One-time strategy sessions: Targeted primarily at cardholders spending upwards of ₹20 lakh a year, personalised consults typically run between ₹10,000 and ₹20,000. Both The Points Code and 1A charge around ₹10,000 for a portfolio-building and reward-maximisation blueprint. The Points Code also provides a standalone redemption service for roughly ₹7,000.

Rohan Varshnei, co-founder of The Points Code, told Shipra Singh from Mint that one-time guidance is generally more practical than an ongoing retainer for cardholders spending ₹20–40 lakh annually:

“For cardholders spending around ₹20-25 lakh annually, rewards may be worth roughly ₹50,000 to ₹1 lakh, depending on the cards and spending patterns. At this level, paying about ₹7,000-10,000 for one-time assistance will make sense, instead of paying a higher fee for ongoing card portfolio management,” said Varshnei.

Wealth-Management Model

Higher-tier programmes operate much like family offices or private wealth desks, featuring periodic reviews, customised redemption roadmaps, and on-call support for major ticket spends or international itineraries. These services focus on high-net-worth individuals (HNIs) logging over ₹40 lakh in annual discretionary card spending.

Gajender Yadav, founder of 1A, pointed out that while higher spends yield larger point balances, actual returns hinge on execution.

“The net reward rate one can earn ranges from 5%-50%, depending on how the rewards are redeemed. Extracting maximum value requires time and effort in researching cards, comparing reward structures, tracking programme changes and planning redemption,” Yadav said.

Who actually needs an advisor?

The decision to hire an advisor comes down to three factors: total discretionary spend, portfolio complexity, and personal bandwidth.

• Low-to-moderate spenders ( ₹5–10 lakh/year): Cardholders running one or two cards primarily for simple cashback rarely need paid help, as incremental gains will not offset advisory fees.
• High spenders ( ₹15 lakh+/year): Managing multiple cards requires navigating a maze of milestone bonuses, monthly reward caps, fee-waiver thresholds, airline/hotel transfer ratios, and seat availability.

Varshnei emphasised that paying an expert is optional if you enjoy doing the legwork. “It’s not like we have access to any exclusive information. Younger users who use AI and are willing to spend the time can find 60-70% of this information themselves. Our main clientele are working professionals who want to optimise their rewards but don’t have the time to do all this research themselves.”

Look at incremental value

The real metric to assess is not the total reward pool an advisor unlocks, but the net gain above your baseline.

Suppose you spend ₹20–30 lakh a year and generate ₹70,000 in rewards through your own research. You hire an advisor for ₹10,000 and finish the year with ₹1 lakh in rewards. While the total return looks attractive, the advisor generated an extra ₹30,000—meaning your net profit after fees is ₹20,000.

“The relevant comparison is the additional value card users can realistically get over their existing approach, after card fees, transaction charges and the fee, alongside the convenience of ongoing support,” said Yadav. “A higher-priced membership will not be worthwhile for everyone.”

Ashish Lath, founder and chief executive of SaveSage, agreed: “Some are willing to take the cognitive load of consuming content, devising their own strategy and constantly tracking it, while others want the same value but don't find the time spent doing so worthwhile.”

Watch the incentives and guardrails

Unlike registered investment advisors under Sebi, credit card advisory is entirely unregulated. As a result, consumers must evaluate platform transparency and potential conflicts of interest.

• Affiliate links and referral commissions: Some firms earn referral fees when users apply for cards they recommend. Both Lath and Yadav confirmed their platforms collect commissions on select products, but stated this does not dictate their guidance.
  
  “It makes up less than 1% of our revenue. Our philosophy is to not give you a card where I make money. The idea is to give you the card which is best for you, and if I can make some money out of it, why not,” Lath said.
  
  CardExpert similarly features affiliate links.
• Data security: All platforms confirmed they never request net banking, card details, or loyalty login credentials, nor do they execute transactions on a customer’s behalf.
• No backdoors or guaranteed approvals: Paid advisory cannot circumvent bank underwriting, manufactured spending restrictions, or strict eligibility bars.
  
  “We cannot guarantee approval or bypass a bank’s eligibility requirements for any card. We help customers identify cards appropriate for their profile and understand the application process, but approval, credit limits and underwriting remain entirely with the issuer,” said Yadav, a stance echoed by Varshnei and Lath.

For individuals charging upwards of ₹15 lakh annually, premium plastic can consistently unlock 6–10% in travel value. If navigating points charts and transfer partners feels like a chore, initial guidance from an advisor could pay for itself by aligning your wallet with your lifestyle.