Close new accounts - to improve CIBIL?

[srikant]

Will it help me by improving credit age? I have some older cards that I'll keep running.

 

[Tejo]

Will it help me by improving credit age? I have some older cards that I'll keep running.

Closing new accounts might not damage cibil but will surely effect while taking credit with new or old ones.

If they are loans,paylaters you can close. If they are credit cards close after 1 year. If shared limit credit card close after 6 months (just advise, your wish)

 

[srikant]

Closing new accounts might not damage cibil but will surely effect while taking credit with new or old ones.

If they are loans,paylaters you can close. If they are credit cards close after 1 year. If shared limit credit card close after 6 months (just advise, your wish)

OK, you're saying that while the score CIBIL itself gives doesn't drop - since banks get the full report and not just the score, they won't want to give me a card if they see I close accounts too soon? That's a helpful tip. Thanks!