I’m having SBI DOCTOR’S CARD for 3-4 years now. Most of the shopping and bill payments of home was done by me, (Papa ka paisa) and main motive to get the card was to avail discounts in sale. But it’s costing 1500/- per year for no added benefits. And as I didn’t have any job till now, I was not able to spend enough to waive off the annual fee. Today I got text of eligibility for increase in credit limit from 95000 to 162000.
My queries -
• I want to close the Credit card in next August, as I’ve already paid the fee this month. Should I increase the credit limit? Any con or Pro?
• I read today on DD, that closing the Credit card affects the cibil score. But this is my Only credit card. Will that too affect my CIBIL score, if I get another Credit Card?
• Should I first close and then Apply or First apply for other Credit card and then Close the current one?
• Most of my transactions are on Fk, amz, Myntra, grofers and Bigbasket, others being Bill payments and upi on local shops. Cash withdrawal (total 600/- shayad) from account was twice only in 3 years. What will be ideal choice of credit card/s? SBI simply Click, Flipkart axis, Amazon ICICI?
Downgrade sbi doctor card to simply click. U can easily recover 500 rs