Want to reduce 2 out of 6 credit cards
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Hi dimers
I have 6 credit cards
1.Icici Amazon pay – ltf
2.axis flipkart – ltf
3.Hdfc millennia – ltf
4.icici Mmt platinum – ltf
5.axis ace – paid
6.sbi simplyclick – paid
I want to reduce the number of cards to only 4 , please suggest which one have to hold or cancel…
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MMT is a must(to close ). If you don’t use FK that much then close FK card or else SBI. Even though SBI has less value when compared with FK, we need it for occassional bank offers. So 2nd card is your decision.
What’s the need to close Ltf cards??
I think Some banks convert LTF to paid if the cards remain inactive for couple of months (Since last month, i am seeing this new metric for my ICICI Coral LTF – Total transacted value in the current year / 1.5L)
Close the 2 paid cards if you must.
As previously mentioned, definitely close icici mmt.
now for the 2nd card you can look to close axis ace you’ll be paying ₹590 every year and base reward it offers is just 0.5% more than axis FK which you’ve ltf.
If you’re heavily utilising 5% cb on axis ace then you can look to close sbi simplyclick as only utility of this card is 10% online sale discount but this time they capped the discount to only ₹1250 meaning you cannot benefit on big transaction and even to get this as discount you have to pay ₹590 meaning if you just utilised this card on only one sale in a year effective discount you’ll get is ₹660 which is about the same that you’ll get with axis FK or ICICI amazonpay card.
dont close mmt you need one for icici offers since APAY is not included in offers.
Close both the paid ones.
just close 5-6 blindly if you are not a heavy spender.
Close fk axis and az ICICI cards. You can also close Ace card and get myzone card as ltf. If you want, you can exchange simply click with BPCL card. It’s renewal fee will be waived at 50k. In effect you don’t pay renewal fee for any of your 4 cards
close click & mmt
What is ur most usage
Pls tell that
Where u r spending mostly online
Then a proper decision can be made
Amazon and flipkart purchase
Utility bills every month around 10k
Offline purchase 5k per month
And 1 or 2 sale time big purchases
….play akaad bakkad and decide..
Ok, thanks bro…
What will be the benefit of closing LTF cards, why even considering that option?
If nothing else, those could come handy during bank specific discounts and sales throught the year, for self or friends or relatives.
Ace and SBI are the only paid ones, but ace is good for bill payments as of now, and that SBI seems to be the only SBI card you have. So depending on how useful it has been to you, you can decide to keep or close it.
Amazon Pay & Flipkart
simply click and mmt