Jaded
TF Buzz
I have 21 credit cards and the total limit is now 75L. I've decided to close a few to reduce leverage because some banks don't seem to be willing to give cards if someone has too much credit limit. The cards I intend to close are:
1.BOB Onecard: good limit, but pretty useless now
2. RBL world safari: FYF Low limit and I have better card for the forex. Will either close or try to swap for an LTF card.
3. Swiggy card: Useful LTF card, but I have cards that give me the same benefits. Because I have other 2 HDFC cards with a shared, this won't reduce my credit limit, but at least I'll be able to apply for some other HDFC credit cards in the future.
4. SCB rewards: Technically already closed, but SCB hasn't updated my CIBIL for 2 years, escalating with them about this.
5. Utkarsh Supermoney: secured card, just took it to check the cashback
Apart from the above, I have these cards
1. Amazon ICICI: My oldest credit card.
2. Regalia Gold: For lounge and HDFC offers
3. Tata Neu Infinity: don't have a better rupay card
4. Icici rubyx rupay: would close this, but it won't change my shared credit limit and icici doesn't seem to have a credit card limit, so keeping it doesn't change anything.
5. Yes Bank Gold X: For zero forex
6. Roarbank card: great cashback for the selected monthly categories.
7. Amex MRCC paid: only 1,500 annual fee due to referral, and I usually get the partial or full fee waiver due to spend.
8. SBI cashback paid: online cashback, fee gets reversed
9. SBI Simplysave(FYF): Took it for SBI offers. Trying to turn it LTF, will most likely transfer the balance and close if that doesn't work.
10. HSBC Live+ (paid): lovely cashback, fee gets reversed due to spend.
11. HSBC platinum: not sure if I should close this, sees use sometimes when HSBC Live+ isn't usable for HSBC offers
12. IndusInd Legend: took for Indusind offers, thinking of splitting it into two cards, Tiger and some other IndusInd card.
13. IDFC First select: barely see any use of this, was planning to upgrade it to Wealth once I meet the balance criteria, but not sure if that's useful for me or not.
14. Axis Airtel (paid): the cashback limit is pretty low, but there doesn't seem to be any better options for now for utility and mobile recharges.
15. AU Vetta: The most useless card I have. Would close it, but AU has a one card issual only policy.
16. ICICI's Sapphiro credit card: Use it mainly for BOGO and icici offers. Reducing the limit from 16L to 3L via Imobile, as I heard that changing that updates the cibil limit in cibil.
Any suggestions as to what other cards I could close? I was thinking of closing Amazon as well, but my parents use that card, they like seeing the cash coming in their Amazon account wallet rather than using my SBI cashback lol.
My Axis account is getting upgraded to Burgundy, so I'll probably be able to get an Axis Select card on a shared limit if I want to which I can use for Axis offers, but does Axis report shared limit cards separately like HDFC?
After closing the cards I mentioned and reducing ICICI's limit, my total credit limit will reduce from 75L to about 41L. Will bank's like SBI/Federal/BOB still consider me overleveraged? And are there other cards I have which would reduce my credit card limits and later increase easily, like ICICI?
1.BOB Onecard: good limit, but pretty useless now
2. RBL world safari: FYF Low limit and I have better card for the forex. Will either close or try to swap for an LTF card.
3. Swiggy card: Useful LTF card, but I have cards that give me the same benefits. Because I have other 2 HDFC cards with a shared, this won't reduce my credit limit, but at least I'll be able to apply for some other HDFC credit cards in the future.
4. SCB rewards: Technically already closed, but SCB hasn't updated my CIBIL for 2 years, escalating with them about this.
5. Utkarsh Supermoney: secured card, just took it to check the cashback
Apart from the above, I have these cards
1. Amazon ICICI: My oldest credit card.
2. Regalia Gold: For lounge and HDFC offers
3. Tata Neu Infinity: don't have a better rupay card
4. Icici rubyx rupay: would close this, but it won't change my shared credit limit and icici doesn't seem to have a credit card limit, so keeping it doesn't change anything.
5. Yes Bank Gold X: For zero forex
6. Roarbank card: great cashback for the selected monthly categories.
7. Amex MRCC paid: only 1,500 annual fee due to referral, and I usually get the partial or full fee waiver due to spend.
8. SBI cashback paid: online cashback, fee gets reversed
9. SBI Simplysave(FYF): Took it for SBI offers. Trying to turn it LTF, will most likely transfer the balance and close if that doesn't work.
10. HSBC Live+ (paid): lovely cashback, fee gets reversed due to spend.
11. HSBC platinum: not sure if I should close this, sees use sometimes when HSBC Live+ isn't usable for HSBC offers
12. IndusInd Legend: took for Indusind offers, thinking of splitting it into two cards, Tiger and some other IndusInd card.
13. IDFC First select: barely see any use of this, was planning to upgrade it to Wealth once I meet the balance criteria, but not sure if that's useful for me or not.
14. Axis Airtel (paid): the cashback limit is pretty low, but there doesn't seem to be any better options for now for utility and mobile recharges.
15. AU Vetta: The most useless card I have. Would close it, but AU has a one card issual only policy.
16. ICICI's Sapphiro credit card: Use it mainly for BOGO and icici offers. Reducing the limit from 16L to 3L via Imobile, as I heard that changing that updates the cibil limit in cibil.
Any suggestions as to what other cards I could close? I was thinking of closing Amazon as well, but my parents use that card, they like seeing the cash coming in their Amazon account wallet rather than using my SBI cashback lol.
My Axis account is getting upgraded to Burgundy, so I'll probably be able to get an Axis Select card on a shared limit if I want to which I can use for Axis offers, but does Axis report shared limit cards separately like HDFC?
After closing the cards I mentioned and reducing ICICI's limit, my total credit limit will reduce from 75L to about 41L. Will bank's like SBI/Federal/BOB still consider me overleveraged? And are there other cards I have which would reduce my credit card limits and later increase easily, like ICICI?
