Should I close the OneCard?

[n00b]

Hi,

I have OneCard FD based which I mostly use for Swiggy offers.

Recently, I got My Zone LTF which gives Rs. 120 off 4 times per month as you all know.

So, is there any reason to still keep the OneCard?

I know they don't offer another card as per their policy but I don't think I will need it.

Would love to hear your suggestions.

Thanks.

 

[Heehaahee]

Obviously

 

[Rohan]

I have unsecure onecard with 20K limit. I have other betters cards & Thinking to close it..

 

[n00b]

I have unsecure onecard with 20K limit. I have other betters cards & Thinking to close it..

You have unsecured one so why bother closing.

 

[Rohan]

Waiting for LE offer.

You have unsecured one so why bother closing.

 

[Sandy Singh]

If you don't want to handle multiple cards and you are not a card collector as many on this forum, then go ahead and close the card.

 

[BeingIncog]

Waiting for LE offer.

same. which partner?

 

[Rohan]

same. which partner?

Federal

 

[Deleted member 16965]

Sometimes offers on OneCard are decent like currently 5% off upto Rs 50 on CRED for utility bill payment. Card is already LTF so no harm in retaining it.

 

[SSMV]

Hi,

I have OneCard FD based which I mostly use for Swiggy offers.

Recently, I got My Zone LTF which gives Rs. 120 off 4 times per month as you all know.

So, is there any reason to still keep the OneCard?

I know they don't offer another card as per their policy but I don't think I will need it.

Would love to hear your suggestions.

Thanks.

If you close they would never issue card again

 

[sxchzy]

if you require your fd funds then close it otherwise continue holding it you never no what you may need

 

[Rohan]

If you close they would never issue card again

In my case Federal bank don't issue another credit card because I have existing onecard with them. If I close onecard and apply it after few months will they consider my application? or direct rejection anyone has tired?

 

[cryoengine]

In my case Federal bank don't issue another credit card because I have existing onecard with them. If I close onecard and apply it after few months will they consider my application? or direct rejection anyone has tired?

It should work. once you close the onecard, wait for it to reflect in cibil report as closed.

 

[cryoengine]

Hi,

I have OneCard FD based which I mostly use for Swiggy offers.

Recently, I got My Zone LTF which gives Rs. 120 off 4 times per month as you all know.

So, is there any reason to still keep the OneCard?

I know they don't offer another card as per their policy but I don't think I will need it.

Would love to hear your suggestions.

Thanks.

I would argue to keep the card if it was not FD based card. There is no path forward, there will be no LE. Your money is just sitting there. The only drawback is, if it's your oldest card, then it is contributing to your credit history and maybe affect your score short term if closed.

 

[sachinvenga]

Secured and unsecured type of credit in portfolio will help to improve your cibil score.

 

[Deleted member 16965]

I would argue to keep the card if it was not FD based card. There is no path forward, there will be no LE. Your money is just sitting there. The only drawback is, if it's your oldest card, then it is contributing to your credit history and maybe affect your score short term if closed.

CIBIL score does not have any impact on closing oldest card if the credit history is clean and clear while maintaining other cards. I had an oldest card of 8 years with clean credit history which I closed and now I have an average credit history of just 1 year. My CIBIL score has not even dropped by a single point and still the score is maintained above 790. (Oldest card was closed few months back)

 

[cryoengine]

CIBIL score does not have any impact on closing oldest card if the credit history is clean and clear while maintaining other cards. I had an oldest card of 8 years with clean credit history which I closed and now I have an average credit history of just 1 year. My CIBIL score has not even dropped by a single point and still the score is maintained above 790. (Oldest card was closed few months back)

I agree, the oldest credit card rule doesn't apply when you have a long/clean history. But in this case, people took one card secured because they couldn't get any other unsecured card and wanted to build credit history. But ye, the impact is minimal, if there is anything at all.

 

[gowthamv]

Hi,

I have OneCard FD based which I mostly use for Swiggy offers.

Recently, I got My Zone LTF which gives Rs. 120 off 4 times per month as you all know.

So, is there any reason to still keep the OneCard?

I know they don't offer another card as per their policy but I don't think I will need it.

Would love to hear your suggestions.

Thanks.

The T&C of MyZone-Swiggy offer is going to be changed right?

120 off on 500+ only..Is that right?

 

[sxchzy]

The T&C of MyZone-Swiggy offer is going to be changed right?

120 off on 500+ only..Is that right?

as of now only flipkart card has been devlaued
rest all are on hold

 

[n00b]

The T&C of MyZone-Swiggy offer is going to be changed right?

120 off on 500+ only..Is that right?

I can still use it 8 times before they down grade it 🤣 thats easy 960 rupees. 🤭