Closing ICICI Credit card

[lightwaves]

Hello community,

I have two credit cards from ICICI, MMT and a coral Rupay card.

MMT Platinum is 3 years old and Rupay Card is 8 months. Both have a shared limit of 7 lakhs. and Both are LTF.

I dont use these cards very often and I think its unnecessarily increasing my credit exposure (higher total credit limit).

So I am thinking of closing one of them and keeping one. Please guide on the following:
1. Which is better to close?
2. Will there be any hit on CIBIL?

Thanks

 

[SSV]

Sure @SSV garu. I will add a link to this thread in the main thread. I posted here as I was updating periodically here.

I would like to express my gratitude to you, @SSV garu. You're doing an exceptional job of keeping the community informed on these finer details which are very helpful and if planned well, we can navigate very well. Thanks again and cheers.

Super .. yes I would love to benefit the community at large of my knowledge which contains very finer points ..
Enjoy ...life is very short.. Have fun !!

 

[Boy 07]

then dont worry.. the drop in your score is nothing to do with MMT closing..
even if it is for that reason, it will bounce back within 2 to 3 months

I have Apay card then I got Coral rupay card as of Now I have two account in my cibil my question is that if I get 3 rd card of ICICI Bank will it combines with coral account or there will be 3rd account will open im my Cibil ????

 

[SSV]

I have Apay card then I got Coral rupay card as of Now I have two account in my cibil my question is that if I get 3 rd card of ICICI Bank will it combines with coral account or there will be 3rd account will open im my Cibil ????

That depends on which card you get next.
If it is another coral, ruby or sapphiro cars then it will be clubbed with the current coral card and there won't be any separate account.
If it is any cobranded card like MMT, or emeralds card then it will be reported as a separate account

 

[TrueColours]

That depends on which card you get next.
If it is another coral, ruby or sapphiro cars then it will be clubbed with the current coral card and there won't be any separate account.
If it is any cobranded card like MMT, or emeralds card then it will be reported as a separate account

My coral and RubyX cards are reported as separate accounts

 

[SSV]

My coral and RubyX cards are reported as separate accounts

Yes, some people reported this, Where as others reported all gem 💎 stone cards in one account except for emeralds.
Let's see how many others have this anomaly and since when

 

[Boy 07]

That depends on which card you get next.
If it is another coral, ruby or sapphiro cars then it will be clubbed with the current coral card and there won't be any separate account.
If it is any cobranded card like MMT, or emeralds card then it will be reported as a separate account

Thanks Sir , I upgraded to sapphiro

 

[cc_dc_explorer]

Dont close if ltf. Do not worry about credit limit. Coral is a core card so it must be kept for future upgrade. Trick to decrease credit limit you can try and see: in imobile decrease credit card limit and the bank will report this new limit to credit bureau. You can try this and see if it helps. Once i read this somewhere.
Caution: dont decrease too much other wise it will have negative impact on your credit profile.

Hi, have anyone tried this and saw the difference in CIBIL report for the limit updated? Can anyone please confirm if it works ?

 

[srikant]

I have Platinum, Sapphiro (Alumnus) Master-Amex and Coral Rupay -- got them in that order. Which should I close to reduce credit exposure? Platinum would be my guess ...

I have other banks' cards older than my ICICI Platinum.