I need advice specific to my scenario. Been stressing over it for many days now.
My oldest credit card (from 2016), HDFC Times Platinum (Mastercard) is also my first and only HDFC credit card. I can't seem to get any core HDFC card due to it. Reading into forums here and elsewhere I have realized that the only way to move forward is to close this card and re-apply for a core card after a few (3-6?) months.
The current limit on this card is 12L+ and I am planning to reach out to the corporate spoc once and if that doesn't work then the credit card email once asking for a direct upgrade. This will be on the back of my salary account being with HDFC for more than a decade, the salary being 1.75l+ and cibil score 790+. I doubt all this will matter to them so eventually wondering -
If I must close this card or not? If I do then what must be the next target (Regalia, DCB etc.) and when?
What are the chances of being able to qualify for or achieve that target?
What will be the impact on score and its cascading impact on qualifying for good credit/loan deals in future?
The only other card I have is Yes Premia (Elite+ on Mastercard) with a limit of 5.5L+ from start of 2023 and a free Rupay add-on to the same with shared limit from an even later date. No other credit cards and no active loans as such but planning on an auto loan in near future (tentative) and I actively rely on credit card for most expenses. The limit on my HDFC credit card feels like a cushion and is really hard earned in the sense that I have often maxed out utilization and paid off to get limit enhancements starting from around 40K limit at beginning if I recollect correctly.
I have recently (few days ago) applied for SBI Simplyclick (on Visa) with the view of securing SBI discounts on websites like Amazon, MMT, etc. Not sure where that application will go. Any guidance is appreciated. I have been reading a lot for the past few days and can't figure out anymore on how to go about it. Is this all even worth it?
I mean to put it simply, I have HDFC and Yes Bank cards that allow me to secure discounts on websites plus given me decent discounts on BMS, Zomato, Swiggy, Amazon, MMT, Eazydinner, etc. from time to time anyway so not sure. Lost, hence posted here. Been lurking this forum for a long time now.
Btw none of these are LTF, I have preferred account with HDFC - not that it matters and for me ltf ICICI is out of reach due to my current company not being empaneled with them and their paid cards aren't worth it except the discount they offer - an approach I am now starting to doubt.
My oldest credit card (from 2016), HDFC Times Platinum (Mastercard) is also my first and only HDFC credit card. I can't seem to get any core HDFC card due to it. Reading into forums here and elsewhere I have realized that the only way to move forward is to close this card and re-apply for a core card after a few (3-6?) months.
The current limit on this card is 12L+ and I am planning to reach out to the corporate spoc once and if that doesn't work then the credit card email once asking for a direct upgrade. This will be on the back of my salary account being with HDFC for more than a decade, the salary being 1.75l+ and cibil score 790+. I doubt all this will matter to them so eventually wondering -
If I must close this card or not? If I do then what must be the next target (Regalia, DCB etc.) and when?
What are the chances of being able to qualify for or achieve that target?
What will be the impact on score and its cascading impact on qualifying for good credit/loan deals in future?
The only other card I have is Yes Premia (Elite+ on Mastercard) with a limit of 5.5L+ from start of 2023 and a free Rupay add-on to the same with shared limit from an even later date. No other credit cards and no active loans as such but planning on an auto loan in near future (tentative) and I actively rely on credit card for most expenses. The limit on my HDFC credit card feels like a cushion and is really hard earned in the sense that I have often maxed out utilization and paid off to get limit enhancements starting from around 40K limit at beginning if I recollect correctly.
I have recently (few days ago) applied for SBI Simplyclick (on Visa) with the view of securing SBI discounts on websites like Amazon, MMT, etc. Not sure where that application will go. Any guidance is appreciated. I have been reading a lot for the past few days and can't figure out anymore on how to go about it. Is this all even worth it?
I mean to put it simply, I have HDFC and Yes Bank cards that allow me to secure discounts on websites plus given me decent discounts on BMS, Zomato, Swiggy, Amazon, MMT, Eazydinner, etc. from time to time anyway so not sure. Lost, hence posted here. Been lurking this forum for a long time now.
Btw none of these are LTF, I have preferred account with HDFC - not that it matters and for me ltf ICICI is out of reach due to my current company not being empaneled with them and their paid cards aren't worth it except the discount they offer - an approach I am now starting to doubt.
