Should i hold LTF YES First Preferred or close it?

[SangEUD]

Holding LTF YFP card since last 3 years. Recently auto LE increased limit to paltry 78K. Should I close it or continue because of LTF ?

 

[Paras Jain]

What is the harm in keeping it if it is LTF

 

[SangEUD]

Managing multiple cards becomes tough, especially if you are not regularly spending on them. Chances of default in bill payment in case of spend are more.

 

[Paras Jain]

Well as there was video on youtube by technofino about how to manage many cards. You can try that. Otherwise id you can try CRED? I generally get reminders about bill payments from it.

If all of that doesn't work for you then ofcourse you can close the cards you almost never use

 

[anish1516]

I am holding the same card since 2017 and after recent LE the limit is now 1.26L. If you want to get LE start using the card regularly. Just few transactions. 10% of CL may be. In 5-6 months you would get a decent LE. I feel Yes First Preferred is a good card to have LTF so wont suggest closing it. Multiple cards are an issue and you would need to figure out how to deal with it. I use cred and it helps a lot.

Holding LTF YFP card since last 3 years. Recently auto LE increased limit to paltry 78K. Should I close it or continue because of LTF ?

 

[ltf4ever]

Managing multiple cards becomes tough, especially if you are not regularly spending on them. Chances of default in bill payment in case of spend are more.

change the billing date such that the due date falls 5 days after your salary gets creditd, or on 5th of every month. that way you can remember to pay dues as soon as you get salary or when a new month starts.

dont close and ltf card. i shop a lot on eCommerce, flight bookings, dining apps, etc and sometimes lose out on discounts because i dont have yes cc.
but if you have not used it let's say in the last 6 months/year then you might want to go ahead and close to avoid hassle, as there is clearly no use of that card for you.

 

[AmitMishra]

I also have multiple cards and most of them are LTF.
What I do usually is, only use 2-3 cards on regular basis where I am getting benefits most or any spend base fee waiver on cards.

Only using LTF cards when there is an offer. Maintain excel files for it with bill date, once bill gets generated, paying full outstanding amounts.