• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

CIBIL Score Impact on applying for multiple credit cards

samarthkumar

TF Buzz
Hello Technofinians,

I applied for Amex Platinum Travel in December 2022, BOB Premiere in April 2023, Axis Magnus in May 2023 and PNB Rupay Select in May 2023 (applied in April but the application was completed in May). I also closed my Kotak Urbane credit card in May 2023. I am looking to get IndusInd Legend since its LTF and will offer me a chance to upgrade to Indulge in the future, or will go for HDFC Regalia as I have decided to shift my salary account from ICICI to HDFC.

Either way, will getting so many credit cards in the past few months impact my CIBIL poorly? Is there any threshold above which we shouldn't apply for a given number of credit cards in a specified amount of time?
 
Check this thread out


Should help you with most of your questions.
 
Hello Technofinians,

I applied for Amex Platinum Travel in December 2022, BOB Premiere in April 2023, Axis Magnus in May 2023 and PNB Rupay Select in May 2023 (applied in April but the application was completed in May). I also closed my Kotak Urbane credit card in May 2023. I am looking to get IndusInd Legend since its LTF and will offer me a chance to upgrade to Indulge in the future, or will go for HDFC Regalia as I have decided to shift my salary account from ICICI to HDFC.

Either way, will getting so many credit cards in the past few months impact my CIBIL poorly? Is there any threshold above which we shouldn't apply for a given number of credit cards in a specified amount of time?
What is the current score and how old it is? And is Dec22 was your first card?

If the score is good, payments have been good...then this much enquiries should not matter much.
Explore the thread link shared by @4uziaul ... it will help you.
 
What is the current score and how old it is? And is Dec22 was your first card?

If the score is good, payments have been good...then this much enquiries should not matter much.
Explore the thread link shared by @4uziaul ... it will help you.
My current score was 782+ the last time I checked.

My first credit card was availed in August 2016. December 2022 I got Amex after a long time.

I have a credit mix of multiple credit cards and an education loan, and none of my payments have defaulted till now. (maybe 1 I would have missed in the past 7 years).

Initially I thought that this sudden rampage of applying for credit cards in a span of less than an year should not raise the ears of CIBIL and impact my score, as after closing my education loan by the end of this year, I would be going for a home loan. Hence, the apprehension in going for IndusInd Legend/HDFC Regalia.
 
  • Like
Reactions: Rkr
My current score was 782+ the last time I checked.

My first credit card was availed in August 2016. December 2022 I got Amex after a long time.

I have a credit mix of multiple credit cards and an education loan, and none of my payments have defaulted till now. (maybe 1 I would have missed in the past 7 years).

Initially I thought that this sudden rampage of applying for credit cards in a span of less than an year should not raise the ears of CIBIL and impact my score, as after closing my education loan by the end of this year, I would be going for a home loan. Hence, the apprehension in going for IndusInd Legend/HDFC Regalia.
You are experienced one in CC world...Now you are on the correct platform ...so share and learn and then earn...😃😃
 
My current score was 782+ the last time I checked.

My first credit card was availed in August 2016. December 2022 I got Amex after a long time.

I have a credit mix of multiple credit cards and an education loan, and none of my payments have defaulted till now. (maybe 1 I would have missed in the past 7 years).

Initially I thought that this sudden rampage of applying for credit cards in a span of less than an year should not raise the ears of CIBIL and impact my score, as after closing my education loan by the end of this year, I would be going for a home loan. Hence, the apprehension in going for IndusInd Legend/HDFC Regalia.
Don't worry about score then. The trend and your record seems to be good.
Just a suggestion..keep checking your score regularly May be monthly..just to avoid any surprises later ( due to wrong or multiple enquiries by a single bank.).
You may use gpay or onescore to check cibil score.
 
Back
Top