What to do?
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6 Months ago, I applied for many credit cards and so many applications were rejected and then my cibil got impacted.
So I thought about rebuilding my cibil score and then took FD based IDFC wow cc with a 5k deposit on 01/11/2022.
As I am a axis account holder, I have seen no joining or Annual fee for Indian oil cc in axis app. This free card got tempted me and I applied this axis Indian Oil card as it shows 0 joining and annual fees, surprisingly it was instantly approved today(04/11/22).
Now I am confused with this IDFC FD based card. Can I keep or close IDFC CC?
I am thinking to close IDFC as I don't need really now as Axis cc was approved. What happens to my cibil if I close within 5 days?
My main motto is to build my credit score for future.
So I thought about rebuilding my cibil score and then took FD based IDFC wow cc with a 5k deposit on 01/11/2022.
As I am a axis account holder, I have seen no joining or Annual fee for Indian oil cc in axis app. This free card got tempted me and I applied this axis Indian Oil card as it shows 0 joining and annual fees, surprisingly it was instantly approved today(04/11/22).
Now I am confused with this IDFC FD based card. Can I keep or close IDFC CC?
I am thinking to close IDFC as I don't need really now as Axis cc was approved. What happens to my cibil if I close within 5 days?
My main motto is to build my credit score for future.
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https://www.desidime.com/discussions/what-to-do-481020cb-bd30-4005-ac85-8b541ff8b3bf?page=1#post_8810367
They have given several options for income proof verification like bank statement upload, payslips upload, agent visit and automatic verification via linking bank.
I have choosen the option of automated one verification with anumati (third party which is rbi approved) and instantly approved
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https://www.desidime.com/discussions/what-to-do-481020cb-bd30-4005-ac85-8b541ff8b3bf?page=1#post_8810341
wait till u get Axis card; Axis can surprise u with approved to declined, that much reputation Axis has
https://www.desidime.com/discussions/what-to-do-481020cb-bd30-4005-ac85-8b541ff8b3bf?page=1#post_8810704
But I got msgs that card will be dispatched and already showing in credit cards section with masked card number also.
https://i.imgur.com/4MQnf...pg
https://www.desidime.com/discussions/what-to-do-481020cb-bd30-4005-ac85-8b541ff8b3bf?page=1#post_8810531
What happens to my cibil if I close within 5 days?
What's the rush? The damage is already done (Hard enquiries) + few more credit points reduction upon card cancellation (not a big deal*) but the cc issuer might leave a negative remark with credit information companies (via reports) that the user is not good with his financial decisions (You haven't even used the card yet*)
Just hold it for couple of months (Say 6?) and request cancellation
https://www.desidime.com/discussions/what-to-do-481020cb-bd30-4005-ac85-8b541ff8b3bf?page=1#post_8810745
Hold on for few months, its a good mix for cibil
https://www.desidime.com/discussions/what-to-do-481020cb-bd30-4005-ac85-8b541ff8b3bf?page=1#post_8810769
Yes correct. I will be holding secured cc, unsecured cc, consumer loan(slice) and personal loan (lazypay). Can u pls tell What will be my credit mix?
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https://www.desidime.com/discussions/what-to-do-481020cb-bd30-4005-ac85-8b541ff8b3bf?page=1#post_8822705
You can close IDFC Card, Its basically waste anyway, Barely any offers on merchants and benefits arent very personalised.
Use that FD amount to get other secured ones like ICICI, OneCard, Paizabazaar (if you need Rupay Credit for Swiggy Offers)
And diversify your collection ✌️
https://www.desidime.com/discussions/what-to-do-481020cb-bd30-4005-ac85-8b541ff8b3bf?page=1#post_8826426
No it's visa infinite card, have amazing offer like 50% discount upto 300 on BMS
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Your oldest cc is not even a month old & you already got another cc so closing the first cc won't have much impact. Btw how is your axis cc application instantly approved as that happens only when you click on apply now tab in axis app & see the card with no other details to enter unlike the usual application process where it asks whether you are an axis bank customer & if yes then enter your customer id to proceed with application even when applying after login into axis app.