Impact of closing Slice Account on Credit Score

[enlightedinvestor]

I have been using slice card for more than 2 years. Last week I have got Amazon pay credit card as my first credit card. So, I wnated to close my slice account but not sure of impact on credit score as it was there for past 2 years +.

Also, i want to get credit cards from hdfc,Axis, IDFC bank as well as Amex in near future. So, by closing the account will it impact my applications for these.

 

[vaibhav111]

hmmm it a tricky thing to answered cause even Apay ICICI statement isn't eligible for some cc application.. some take bank take it and some doesn't not, my advice may be keep slice for another 3 -4 month and using Apay more and try IDFC cc , what your limit of slice and apay

 

[akshayhs]

I have been using slice card for more than 2 years. Last week I have got Amazon pay credit card as my first credit card. So, I wnated to close my slice account but not sure of impact on credit score as it was there for past 2 years +.

Also, i want to get credit cards from hdfc,Axis, IDFC bank as well as Amex in near future. So, by closing the account will it impact my applications for these.

It's a credit line. So it won't impact your score as much compared to a Credit card, at least not negatively. When my account got moved from one NBFC to another, my score actually shot up (No idea, why and how). But when the new account was added back to my report, my score remained unaffected.

I think since it's 2 years and your first credit card is recent, no harm in keeping it active and not spend your credit on Slice. But, the fact that a consumer loan will be active on your report, that's the only drawback.

BTW, How many attempts did it take you to get your Amazon Pay card?

 

[vaibhav111]

Slice is not a CC ... It's an NBFC

true

 

[vaibhav111]

I'm also waiting to see how my score changes when my only NBFC which is closed shows up on Cibil

you had NBFC card , i have seen 3 cc you have shared earlier , canara and idfc, hdfc , i didn't knew you had NBFC card

 

[Batmanbaba]

No changes.... Atleast for credit line..I have closed flipkart pay later and paytm postpaid. I closed my first fd based kotak card... 1 years old but no effect on Cibil....

If you regularly pay your bills and credit utilisation ratio is less than 30% I dont think any major effect happens....

 

[enlightedinvestor]

hmmm it a tricky thing to answered cause even Apay ICICI statement isn't eligible for some cc application.. some take bank take it and some doesn't not, my advice may be keep slice for another 3 -4 month and using Apay more and try IDFC cc , what your limit of slice and apa

hmmm it a tricky thing to answered cause even Apay ICICI statement isn't eligible for some cc application.. some take bank take it and some doesn't not, my advice may be keep slice for another 3 -4 month and using Apay more and try IDFC cc , what your limit of slice and apay

Slice = 48000
Amazon Pay Card= 110,000

 

[enlightedinvestor]

It's a credit line. So it won't impact your score as much compared to a Credit card, at least not negatively. When my account got moved from one NBFC to another, my score actually shot up (No idea, why and how). But when the new account was added back to my report, my score remained unaffected.

I think since it's 2 years and your first credit card is recent, no harm in keeping it active and not spend your credit on Slice. But, the fact that a consumer loan will be active on your report, that's the only drawback.

BTW, How many attempts did it take you to get your Amazon Pay card?

2 attempts

 

[TheTrickySid]

2 attempts

How did you get it,
C2C or u submitted income docs
Or do you have icici account??

 

[enlightedinvestor]

How did you get it,
C2C or u submitted income docs
Or do you have icici account??

Just applied and got it

 

[ashwink]

Just applied and got it

Do you have ICICI Bank account?

 

[Amitt Aryan]

I'm really enjoying delicious discounts for mobile recharges nowadays
Perks of having multiple CCs

Yes, specially if all are LTF😊😊

 

[Amitt Aryan]

BOB CC is giving good discounts on mobile recharges now ... While paying on Amazon ... I got one 50 and one 25 discount recently

Yes ... All are LTF

I will try it too, thanks😊🤗

 

[Amitt Aryan]

You have BOB CC, right?

Yes. Premier rupay variant.

 

[Amitt Aryan]

BOB CC is giving good discounts on mobile recharges now ... While paying on Amazon ... I got one 50 and one 25 discount recently

Yes ... All are LTF

Cashback is given randomly or its based on some percentage of spends.?
Or the cashback is fixed?

 

[Amitt Aryan]

I guess fixed ...

50 casback you got for which category and what was the spending amount?

 

[Amitt Aryan]

Mobile recharge
Something around 500
Same for both ... 25 and 50 ... 500 recharge amounts

Nowadays Paytm charges 2-4 Rupees extra for recharge and no discounts
Ao I don't use Paytm for recharge anymore

Sabka yehi hai ... Once established then stops all offers but they don't understand that nowadays customers are also smart

Phonepe, paytm lost their charm.
Gpay is just saved due to Ace I guess.
Though dont use that much.
Amazon and mobikwik is my primary utility payment stop.

 

[007]

Mobile recharge
Something around 500
Same for both ... 25 and 50 ... 500 recharge amounts

Nowadays Paytm charges 2-4 Rupees extra for recharge and no discounts
Ao I don't use Paytm for recharge anymore

Sabka yehi hai ... Once established then stops all offers but they don't understand that nowadays customers are also smart

Amazon Pay is the best (currently). Good offers now and then!

 

[Amitt Aryan]

Amazon Pay is the best (currently). Good offers now and then!

Sometimes I use slice if there is some spark cashback.

 

[ashwink]

True
I never used PhonePe anyway but yes Paytm doesn't have anything for anyone anymore

I'm recently availed paytms 100% cash back on add on recharge