Closing Credit Card Help
- 1440
- 36
-
- Last Comment
I want to close my SBI SimplyClick Card this month. My current CIBIL score is 769 how much it will reduce my score. What is the procedure to close SBI Credit Card.
- Sort By
Is it your oldest CC? If yes, then impact will be more.
If not and you have other CC’s, then close it. The credit score will recover if it gets impacted.
This is my 1st credit card against FD. Credit limit is 17k. Using this for 10 months. SBI is sh****t.
SBI doesn’t remove lien on FD even if you always pay in time.
Many banks don’t. They differentiate b/w unsecured and secured loans/ cards.
Why are you closing simply click card?
Its is a good card if used along with APay cad. 1.25% for all transactions AFAIK
17k is very low limit. I can’t spend more than 5k to be under 30% credit utilisation. I will put my money in HDFC to get pre approved card.
@guest_999 @Donald Do you see increase spam call rates after wishfin credit score check?
Do they sell your details?
I have the same doubt so never used 3rd party cibil score checking sites till now.
CRED app also shows our score
why do bank reduces CIBIL if I close the cc after paying all my dues ? any logic behind this ?
The logic is that your credit taking capacity is reduced.e.g. originally you were in a job getting 60k salary & having a card with 40k limit. Then your job is changed to a low paying one with 30k salary & you decide to close the card as you can’t afford the card with your now less paying job.
Guy’s I’ve already closed my SBI SimplyClick card against FD. They’ve closed my card on June but haven’t got a single confirmation mail from them about card closure they haven’t send me any NOC. In SBI Card app it’s still showing available credit & cash limit. Although they removed the lien on FD and I’ve already breaked the FD. Now what to do if they ask me any pending due in future?
CIBIL is depends on many factors when closing card-
Your total limit and SBI simplyclick limit.?
How old is your simplyclick.?
Your total uses per months.?
Generally closing cc may increase or decrease your score. .