Too Many Credit Cards

Manitian wrote:

Guys, I already have Below Credit Cards/Prepaid cards:

Amex,
HSBC,
IDFC,
ICICI,
AXIS ACE & FK,
SLICE
Citi
Dhani – Prepaid
Lazypay – Just applied
Junio

Temped to get Onecard with all good offers. With all these cards, and money rotation… its getting hectic for me.
Is it suggested?

Having many LTF cc is not a problem and there’s now cred to track them all with ease.. Onecard can be a good addition.check pm

I’d suggest stop money rotation and get out of the mess. While the reward points, cashbacks and milestones look promising, it will make you over do things and make you addicted.

Fanil wrote:

I’d suggest stop money rotation and get out of the mess. While the reward points, cashbacks and milestones look promising, it will make you over do things and make you addicted.

Correct

Close slice, dhani asap

bikidas2060 wrote:

Close slice, dhani asap

Pay onecard credit card bill using dhani card save 1%

bikidas2060 wrote:

Close slice, dhani asap

Slice is giving too many good offers
Close layzypay ,junio instead

@Manitian

https://ddime.i...r1

@Manitian
You dont have Too many cards….

Easiest way to manage is align billing cycle dates of your card. that way you can pay up all CC bills just 1s in a month instead of tracking multiple dates.

nirmaltvd wrote:

Correct

+1 we are being trapped ourselves into an vicious circle where there is no end at all.

i dont have credit cards …..just not that stupid

Sudarshan61 wrote:

@Manitian
You dont have Too many cards….

Easiest way to manage is align billing cycle dates of your card. that way you can pay up all CC bills just 1s in a month instead of tracking multiple dates.

Is there any way to make cc bill date same

No … also get some cards closed 🤣

Kim_Jong_jun wrote:

Is there any way to make cc bill date same

Yes ..
We can request for bill cycle change. And so it end of month or 1st of month..that way. It becomes easy to track.

Three points I would like to make.
1. Offload all your burden of managing ‘so many’ cards to CRED. Allow email access (i.e. CRED PROTECT) for a foolproof result.
2. You don’t have “too many” cards. Trust me, its not too many.
3. The old saying that too many cards pull your credit scores down, is a MYTH. But, yes, the chances of accidental default increases with having more cards. That will definitely ruin your scores.

@Manitian

HDFC cards missing from your list ??

i have all the cards except kotak (coz they r FD based and sit anyway) and IDFC

all of them are free/ ltf/spend based free and are like weapon in my arsenal in case some offer come

the base reward rate is 4.56% till 20K (amex MRCC) and 2.58%(simplyclick )beyond it
in case any card offer is offering more then 4.56% i choose it instead

isnt it too simple
and my CIBIL stay the same just +-2 in span of a 2 year
so chill ,

but i will say if u have a one best card of each bank for future offer anticipation

like u have axis FK and ace , ace is better then FK as FK 5% can be realised just by having a SBI zero balance account and purchasing thru yono, so no need of axis fk

SBI simplyclick and AMEX MRCC is the must-have card in my opinion so get them if u dotn have it , they will easily offset most of card benefit for u

PappuPager wrote:

@Manitian

HDFC cards missing from your list ??

Forgot to add. Have Diner from HDFC

Manitian wrote:

Forgot to add. Have Diner from HDFC

U don’t have SBI?

xxxyyyzzz wrote:

U don’t have SBI?

Manitian wrote:

Ola SBI …. Its too much to manage and even remember all.

Get rid if you finding it hard to manage

Ola sbi or simply click, which one is better??

decideaim wrote:

Ola sbi or simply click, which one is better??

Sbi bpcl

rohan8397 wrote:

Sbi bpcl

Out of syllabus question answer

rohan8397 wrote:

Sbi bpcl

What is the benefit? Is it ltf card?

I too have many cards, a few more than you mentioned except dhani, junio and slice.

I don’t see much challenge in managing them. I use Microsoft todo for many things and all recurring bills including insurance, electricity, prop tax, credit cards and insurance are part of a group there. I rely more on it than cred because at times Amazon offers are better than cred to pay credit card bills.

What I don’t understand is that you managed rotation. What do you mean by that? I simply use cards when there are offers. I make sure to use Amex every month for that 1000 bonus points. At least acculate the money in Amazon Pay and use it on insurance.

One downside that I saw is my credit score came down by about 100 points to 7xx. The reason is low utilization of credit.

Plz let me know about the two points above.

sudhakarhd wrote:

What is the benefit? Is it ltf card?

No.. 50k spends for fee waiver. Aur bpcl petrol pump pe benefits.
Mere pas bhi nahi hai bas naam suna hai