Credit card - closure
- 694
- 15
-
- Last Comment
I have got all the top cards like amazon pay icici , axis flipkart , axis ace , pinnacle, regalia and many more. I have 10 + credit cards. Since I got all the best cards I want to close the other cards which is not useful for me because I hardly use them . My query here is in which way should I close the cards so that it doesn’t affect my cibil score like should I hold a particular card for atleast a year before I close etc .
- Sort By
Bilu bhai jo bole vohi sahi hai ab.
#TrendingBilu
Close 1 per month so that overall usage(across all cards) does not go up too much.
Or close 2-3 cards when u have very very less spends across all cards for 2-3 months period.
Why care for score when you already got all cards.
amazon pay icici , axis flipkart , axis ace , pinnacle, regalia ==> don’t close these good cards
Yeah was planning do the same
closing old card actually increase 1 point in CIBIL
No one should keep fist/old credit card it will increase CIBIL score. (Age of credit matters)
Dont worry much about CIBIL score..Close the cards you dont want
Closing accounts/change in utilization will take your CIBIL score down(20 points or so) for couple of months,
what’s benefit of pinnacle card ??
2.5 % cashback on all e commerce transactions
1.5 % cashback on wallets and online transactions
1 % cashback on offline pos transactions
Why so serious?
On a serious note start with the one’s which are not used often. With every closure the credit score will take a hit, but nothing to be worried about. Wait for the experts to chip in.