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Need Advice: Which Credit Cards Should I Close or Keep?

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PointsProfessors

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Hi everyone,
I’ve ended up with quite a few credit cards over time and want to streamline my wallet. Here’s my current portfolio, along with their annual fees:
BankCard NameNetworkTierFees (₹/year)
AxisMagnus BurgundyMasterCardWorld0 / till I have burgundy statusHighly Used
ICICIEmerald Private MetalMasterCardWorld12,500Highly Used
HDFCRegaliaMasterCardWorld0Rarely Used for HDFC offers
FederalScapiaVisaSignature0Rarely Used for International Travel, backup for M4B
HDFCTata Neu InfinityRuPaySelect0Highly Used for UPI
ICICIAmazon PayVisaPlatinum0Rarely Used
ICICIPlatinumVisaPlatinum0Rarely Used
HDFCSwiggyMasterCardPlatinum0Moderatly Used, before EPM
AxisFlipkartVisaSignature0Rarely Used
AxisRewardsVisaPlatinum0Moderatly Used, for Swiggy
IDFCFirst WealthVisaSignature0Not sure where to use
IndusIndPinnacleMasterCardWorld0Not sure where to use
RBLShopriteVisaPlatinum0Not sure where to use
What I’m Looking For:
  • Should I close any of these cards?
  • Any cards here you consider redundant, not worth it, or hard to justify due to recent devaluations or benefit changes?
  • Is there any downside to keeping so many zero-fee cards?
 
Last edited:
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Since you have premium/super premium cards, I am hoping you use points. If so then you can close Axis Rewards, ICICI Platinum for sure. Now you have 10 cards. Axis Flipkart is devalued so if your spends are not in Flipkart close it. Though ICICI Amazon Pay is not devalued like Axis Flipkart, but if your spends are not much in Amazon then close it too. You can buy gift voucher using ICICI Emerald and do the same transaction in Flipkart and Amazon. Now you have 8 cards. I don't know if Indusind Pinacle give any higher benefits than your other premium cards except zero forex. If so then you don't need Scapia. Otherwise you can keep Scapia and close the Pinacle. Now you have 7 cards. You only have Tata Neu as Rupay card. It was a good card but to get benefits you have to use Tata Neu app for the UPI payment and we know how the app behaves. I quality tested the app during launch, informed the app was slow but still after 2 year the app is still slow. So I don't think any use of this card but since it is your only Rupay card as of now, I can't comment.
I am not sure if you really use IDFC Wealth or not since looking at your other card, it's better to use Burgendy or Emerald to get higher benefits.

You can keep
1. Magnus Burgendy
2. ICICI Emerald Private Metal
3. HDFC Regalia
4. Scapia/Pinacle (any one)
5. Swiggy
Close
Amazon, Flipkart, ICICI Platinum, Tata Neu, Axis Rewards, IDFC Wealth, RBL Shoprite

I can say you can keep Swiggy since it will give you cashback if you really need any cashback card. Otherwise if you can use the other card you can also close swiggy.

If you close any very old card, the history of that card will be deleted from the CIBIL, so your credit will decrease a bit. But if you spend wisely I don't think this will matter.
 
Last edited:
SpaceBar said:
Since you have premium/super premium cards, I am hoping you use points. If so then you can close Axis Rewards, ICICI Platinum for sure. Now you have 10 cards. Axis Flipkart is devalued so if your spends are not in Flipkart close it. Though ICICI Amazon Pay is not devalued like Axis Flipkart, but if your spends are not much in Amazon then close it too. You can buy gift voucher using ICICI Emerald and do the same transaction in Flipkart and Amazon. Now you have 8 cards. I don't know if Indusind Pinacle give any extra benefits than your other premium cards except zero forex. If so then you don't need Scapia. Otherwise you can keep Scapia and close the Pinacle. Now you have 7 cards. You only have Tata Neu as Rupay card. It was a good card but to get benefits you have to use Tata Neu app for the UPI payment and we know how the app behaves. I quality tested the app during launch, informed the app was slow but still after 2 year the app is still slow. So I don't think any use of this card but since it is your only Rupay card as of now, I can't comment.
I am not sure if you really use IDFC Wealth or not since looking at your other card, it's better to use Burgendy or Emerald to get higher benefits.

You can keep
1. Magnus Burgendy
2. ICICI Emerald Private Metal
3. HDFC Regalia
4. Scapia/Pinacle (any one)
5. Swiggy
Close
Amazon, Flipkart, ICICI Platinum, Tata Neu, Axis Rewards, IDFC Wealth

I can say you can keep Swiggy since it will give you cashback if you really need any cashback card. Otherwise if you can use the other card you can also close swiggy.

If you close any very old card, the history of that card will be deleted from the CIBIL, so your credit will decrease a bit. But if you spend wisely I don't think this will matter.
Click to expand...
Thank you for the detailed analysis. With the addition of EPM, many of these cards have become redundant. For example, Tata Neu was previously my go-to for groceries and other purchases on the Neu App, but now I can handle these with vouchers. The same applies to Swiggy. I’ve updated the post to reflect my usage before EPM.
 
PointsProfessors said:
Thank you for the detailed analysis. With the addition of EPM, many of these cards have become redundant. For example, Tata Neu was previously my go-to for groceries and other purchases on the Neu App, but now I can handle these with vouchers. The same applies to Swiggy. I’ve updated the post to reflect my usage before EPM.
Click to expand...
Now it is very clear. You can also close Tata Neu. I will suggest not to close Regalia. Since you have super premium cards of other banks so you may get HDFC DCBM or Infinia. Just use it whenever possible.
 
rajcasio said:
Don't trust anyone who tell you to close LTF cards...especially ICICI AMAZON.. because they will never do it personally :winking-face:
Click to expand...
You are right. I will not close ICICI Amazon Pay Credit Card. But since he/she asked to reduce his/her credit cards and he/she has better cards for higher benefits ICICI Amazon is now not beneficial for him/her. But ofcourse he/she can get higher benefits using it but the chances are once in 10/20/30 years or less.

Other than this, one can easily close credit cards even LTF since few banks don't like a person holding two digit cards or doing credit leverage.
 
Close : Rbl Shoprite & Icici Platinum.
Rest you can keep.
Don't close Pinnacle as it can be used to open 0 Mab Indus Exclusive account and signature dc which also provides zero forex benefit. Then can close Scapia also.
Also don't close Idfc. It provides Free RSA 4 times a year which can prove very useful saying by experience.
Lastly don't close Regalia Ltf ever. Every month or 2, I get spend based offers on it like 2 days ago also, I got an offer of Rs.500 cb on paying 3k. Plus in future chances for Dcb or Infinia are always there.
 
Last edited:
PointsProfessors said:
Thank you for the detailed analysis. With the addition of EPM, many of these cards have become redundant. For example, Tata Neu was previously my go-to for groceries and other purchases on the Neu App, but now I can handle these with vouchers. The same applies to Swiggy. I’ve updated the post to reflect my usage before EPM.
Click to expand...
I have one doubt here. Were you unable to buy vouchers before EPM (with M4B)? Is M4B not giving good returns for vouchers?
Just to be clear. I know EPM is the best for vouchers.
 
Jatayu said:
Close : Rbl Shoprite & Icici Platinum.
Rest you can keep.
Don't close Pinnacle as it can be used to open 0 Mab Indus Exclusive account and signature dc which also provides zero forex benefit. Then can close Scapia also.
Also don't close Idfc. It provides Free RSA 4 times a year which can prove very useful saying by experience.
Lastly don't close Regalia Ltf ever. Every month or 2, I get spend based offers on it like 2 days ago also, I got an offer of Rs.500 cb on paying 3k. Plus in future chances for Dcb or Infinia are always there.
Click to expand...
Awesome 😎. This is really useful.
 
PointsProfessors said:
Hi everyone,
I’ve ended up with quite a few credit cards over time and want to streamline my wallet. Here’s my current portfolio, along with their annual fees:
BankCard NameNetworkTierFees (₹/year)
AxisMagnus BurgundyMasterCardWorld0 / till I have burgundy statusHighly Used
ICICIEmerald Private MetalMasterCardWorld12,500Highly Used
HDFCRegaliaMasterCardWorld0Rarely Used for HDFC offers
FederalScapiaVisaSignature0Rarely Used for International Travel, backup for M4B
HDFCTata Neu InfinityRuPaySelect0Highly Used for UPI
ICICIAmazon PayVisaPlatinum0Rarely Used
ICICIPlatinumVisaPlatinum0Rarely Used
HDFCSwiggyMasterCardPlatinum0Moderatly Used, before EPM
AxisFlipkartVisaSignature0Rarely Used
AxisRewardsVisaPlatinum0Moderatly Used, for Swiggy
IDFCFirst WealthVisaSignature0Not sure where to use
IndusIndPinnacleMasterCardWorld0Not sure where to use
RBLShopriteVisaPlatinum0Not sure where to use
What I’m Looking For:
  • Should I close any of these cards?
  • Any cards here you consider redundant, not worth it, or hard to justify due to recent devaluations or benefit changes?
  • Is there any downside to keeping so many zero-fee cards?
Click to expand...
Good portfolio..
In my view , you can close RBL shoprite card...
you can keep all the rest of the cards..

It doesn't hurt to keep many LTF cards...

All the best..
 
My suggestions:

Keep - reason:
  • MB, - since it is heavily used.
  • EPM - since it is heavily used.
  • Regalia - may get upgraded
  • Scapia - 0 forex
  • TNI - UPI spends
Close - reason:
  • Apay - you have EPM for vouchers
  • Platinum - you have EPM
  • Swiggy - you have EPM for vouchers
  • Flipkart - you have EPM for vouchers
  • Rewards - you have EPM for vouchers
  • First Wealth - Anyway you are not using it
  • Pinnacle - Anyway you are not using it
  • Shoprite - Anyway you are not using it
 
cardio_guy said:
My suggestions:

Keep - reason:
  • MB, - since it is heavily used.
  • EPM - since it is heavily used.
  • Regalia - may get upgraded
  • Scapia - 0 forex
  • TNI - UPI spends
Close - reason:
  • Apay - you have EPM for vouchers
  • Platinum - you have EPM
  • Swiggy - you have EPM for vouchers
  • Flipkart - you have EPM for vouchers
  • Rewards - you have EPM for vouchers
  • First Wealth - Anyway you are not using it
  • Pinnacle - Anyway you are not using it
  • Shoprite - Anyway you are not using it
Click to expand...
Short and cover all the points.
 
cardio_guy said:
  • Apay - you have EPM for vouchers
  • Platinum - you have EPM
  • Swiggy - you have EPM for vouchers
  • Flipkart - you have EPM for vouchers
  • Rewards - you have EPM for vouchers
  • First Wealth - Anyway you are not using it
  • Pinnacle - Anyway you are not using it
  • Shoprite - Anyway you are not using it
Click to expand...
What happens one day iShop closes the shop( or significantly devalued)…?? Very highly likely considering its past..
Don’t count on ICICI in rewards, is my view…
 
cardio_guy said:
My suggestions:

Keep - reason:
  • MB, - since it is heavily used.
  • EPM - since it is heavily used.
  • Regalia - may get upgraded
  • Scapia - 0 forex
  • TNI - UPI spends
Close - reason:
  • Apay - you have EPM for vouchers
  • Platinum - you have EPM
  • Swiggy - you have EPM for vouchers
  • Flipkart - you have EPM for vouchers
  • Rewards - you have EPM for vouchers
  • First Wealth - Anyway you are not using it
  • Pinnacle - Anyway you are not using it
  • Shoprite - Anyway you are not using it
Click to expand...
I think Swiggy Ltf should be spared as 10% cb as statement credit even on Instamart or Dineout apart from food orders in not at all bad. Will Epm keep providing more than 10% always I don't expect but being partnered with Swiggy, atleast this 10% wouldn't be devalued soon ?
 
cardio_guy said:
That's right. I suggested to keep Regalia and keep using it so that he can get upgraded to Regalia Gold/DCB/Infinia, so that he is not shut out of vouchers.
Click to expand...
We are not sure of upgrade to regalia gold/ DCB / Infinia if and when it happens, considering how HDFC behaves.. and we don’t how long he has to wait for it…
Even if it happens will it cover all the use cases of ICICI platinum/ Apay/ Swiggy / FK / Rewards… considering they all LTF for him right now and he didn’t mention about any over leverage situation…

Just one example: he may want to avail multiple instant discount offers in one single sale using different ICICI cards.. will it be possible??
 
Jatayu said:
I think Swiggy Ltf should be spared as 10% cb as statement credit even on Instamart or Dineout apart from food orders in not at all bad. Will Epm keep providing more than 10% always I don't expect but being partnered with Swiggy, atleast this 10% wouldn't be devalued soon ?
Click to expand...
Yes, I had the same thought, Swiggy can be retained.

SSV said:
We are not sure of upgrade to regalia gold/ DCB / Infinia if and when it happens, considering how HDFC behaves.. and we don’t how long he has to wait for it…
Even if it happens will it cover all the use cases of ICICI platinum/ Apay/ Swiggy / FK / Rewards… considering they all LTF for him right now and he didn’t mention about any over leverage situation…
Click to expand...
Yes, possible. If he was asking to reduce the number of cards, then he can close some of them.
If he is not concerned about over leverage, then keeping all of these doesn't hurt.
 
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SSV said:
We are not sure of upgrade to regalia gold/ DCB / Infinia if and when it happens, considering how HDFC behaves.. and we don’t how long he has to wait for it…
Even if it happens will it cover all the use cases of ICICI platinum/ Apay/ Swiggy / FK / Rewards… considering they all LTF for him right now and he didn’t mention about any over leverage situation…

Just one example: he may want to avail multiple instant discount offers in one single sale using different ICICI cards.. will it be possible??
Click to expand...
cardio_guy said:
Yes, I had the same thought, Swiggy can be retained.


Yes, possible. If he was asking to reduce the number of cards, then he can close some of them.
If he is not concerned about over leverage, then keeping all of these doesn't hurt.
Click to expand...


SSV said:
Just one example: he may want to avail multiple instant discount offers in one single sale using different ICICI cards.. will it be possible??
Click to expand...

? ? ?
.
.
.
.
All I am trying to say : ” don’t overly depend on EPM.. things can change in a single day.. you advised him to close 5 different card just based on one single card ie EPM.. that too all are LTF and he didn’t mention anything about over leverage situation… this I think is a bit aggressive move…
 
Last edited:
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