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Credit card portfolio Optimization - reducing number of paid cards

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Shrinit Padwal

Shrinit Padwal

TF Ace
Hi All,
I have accumulated quite a few cards and now looking to reduce the number of paid cards and optimise my spends. I don't mind keeping LTF cards for offers/sales.
My primary go to cards would be Regalia Gold/Plat Travel and a mixture of Swiggy/Airtel/SBI cashback/live+/Gold charge
Sharing this excel sheet which I maintain


CardFeesAnniversaryWaiverLimitsComments
HDFC Tata Neu Infinity0--350000LTF card - UPI usage mostly
SBI BPCL590September5000020000only SBI card for Sales, but very low limit, will try to waive fee/LTF
SBI Cashback1180October200000150000good usage like 1L/year, dont mind paying fee, will try to waive fee/LTF
Amex Gold charge5310September-5x - used for AGC - 72k, good for 1k x 6
Amex MRCC1770August150000738000good limit, but doubtful to keep as got Plat travel, good for 4x1.5
Amex Plat Travel5900October400000150000Will start using this now, recently got it FYF
ICICI Apay0--650000Good LTF card
IndusInd Pinnacle0--300000LTF card- have exclusive acc and all my FDs are here
HSBC Visa Platinum0--150000LTF Card/HSBC card inst discounts/sales
HSBC Visa Cashback/Live+1180August200000390000Dining, for swiggy/zomato - 10%, 1.5% offline
BOB Premier0--100000LTF Bob card
BOB HPCL Energie0---LTF Card - digital card - will shift here if I close IDFC Power plus
ICICI Coral Visa0---LTF Card
ICICI Coral Rupay0---LTF Card - will close
ICICI Coral Amex0---LTF Card - will close
HDFC Regalia Gold2950July400000-Use this card for Insurances, as insurer not on Apay, primary card, will try converting LTF
IDFC Vistara5900November-350000For 1 PE ticket, one class voucher
AU Zenith0--540000AU LTF Card
IDFC Power+590August150000-Main fuel card, good return
IDFC Mayura Metal7079August--Only got for first year, will close it in 11th month
HDFC Swiggy590January200000-For spends on Swiggy/Instamart - 10% - have already received around 3k cashback, will try converting LTF
Axis MyZone0--540000First CC in Life since 2018
PNB Rupay Select885SeptemberX100000will close this card, as not much value and PNB charges annual fees - much rbi violations
ICICI MMT Signature0---LTF card
IDFC Select0---idfc core card - LTF
Kotak League Rupay0--432000Kotak rupay card - LTF
Kotak Myntra Rupay0---Kotak card - free for 3 years
Kotak Zen Signature0---LTF card
SC Smart590January120000100000will close/downgrade to LTF card
Airtel Axis590April200000-Good for Airtel payments/electricity bills/Swiggy/zomato payments
Axis Vistara Infinite11800June--1 Business ticket
RBL Shoprite0--50000RBL LTF card, not much used, kept for offers if any, just in case
Citi Ikea/ now Axis0---Dont know what to do with this card, maybe will swap for some other
Federal Signet0--100000Federal LTF card
CSB Jupiter Edge0--250000Good LTF card for rupay txns, using either of this/Tata neu



Please suggest a credit card combination to optimize utilization, and which cards I can close.
 
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Shrinit Padwal said:
Hi All,
I have accumulated quite a few cards and now looking to reduce the number of paid cards and optimise my spends. I don't mind keeping LTF cards for offers/sales.
My primary go to cards would be Regalia Gold/Plat Travel and a mixture of Swiggy/Airtel/SBI cashback/live+/Gold charge
Sharing this excel sheet which I maintain


CardFeesAnniversaryWaiverLimitsComments
HDFC Tata Neu Infinity0--350000LTF card - UPI usage mostly
SBI BPCL590September5000020000only SBI card for Sales, but very low limit, will try to waive fee/LTF
SBI Cashback1180October200000150000good usage like 1L/year, dont mind paying fee, will try to waive fee/LTF
Amex Gold charge5310September-5x - used for AGC - 72k, good for 1k x 6
Amex MRCC1770August150000738000good limit, but doubtful to keep as got Plat travel, good for 4x1.5
Amex Plat Travel5900October400000150000Will start using this now, recently got it FYF
ICICI Apay0--650000Good LTF card
IndusInd Pinnacle0--300000LTF card- have exclusive acc and all my FDs are here
HSBC Visa Platinum0--150000LTF Card/HSBC card inst discounts/sales
HSBC Visa Cashback/Live+1180August200000390000Dining, for swiggy/zomato - 10%, 1.5% offline
BOB Premier0--100000LTF Bob card
BOB HPCL Energie0---LTF Card - digital card - will shift here if I close IDFC Power plus
ICICI Coral Visa0---LTF Card
ICICI Coral Rupay0---LTF Card - will close
ICICI Coral Amex0---LTF Card - will close
HDFC Regalia Gold2950July400000-Use this card for Insurances, as insurer not on Apay, primary card, will try converting LTF
IDFC Vistara5900November-350000For 1 PE ticket, one class voucher
AU Zenith0--540000AU LTF Card
IDFC Power+590August150000-Main fuel card, good return
IDFC Mayura Metal7079August--Only got for first year, will close it in 11th month
HDFC Swiggy590January200000-For spends on Swiggy/Instamart - 10% - have already received around 3k cashback, will try converting LTF
Axis MyZone0--540000First CC in Life since 2018
PNB Rupay Select885SeptemberX100000will close this card, as not much value and PNB charges annual fees - much rbi violations
ICICI MMT Signature0---LTF card
IDFC Select0---idfc core card - LTF
Kotak League Rupay0--432000Kotak rupay card - LTF
Kotak Myntra Rupay0---Kotak card - free for 3 years
Kotak Zen Signature0---LTF card
SC Smart590January120000100000will close/downgrade to LTF card
Airtel Axis590April200000-Good for Airtel payments/electricity bills/Swiggy/zomato payments
Axis Vistara Infinite11800June--1 Business ticket
RBL Shoprite0--50000RBL LTF card, not much used, kept for offers if any, just in case
Citi Ikea/ now Axis0---Dont know what to do with this card, maybe will swap for some other
Federal Signet0--100000Federal LTF card
CSB Jupiter Edge0--250000Good LTF card for rupay txns, using either of this/Tata neu



Please suggest a credit card combination to optimize utilization, and which cards I can close.
Click to expand...
You're already on right track. 👍
Baki I think you can close the below cards after due consideration.
  1. HSBC Visa Cashback/Live+ (almost same cb can be covered by hdfc Swiggy card. Close any 1 among these two.)
  2. Atleast any1 of your amex cards
  3. IDFC vistara (can wait until for Vistara-AI merger)
  4. Axis VI (same as above)
  5. Idfc mayura(after FYF)
  6. SC smart
Ps: for pnb select :do 1 txn every qtr to avoid charges?. Convert sbi bpcl/cb cards.
 
FinoGuy said:
You're already on right track. 👍
Baki I think you can close the below cards after due consideration.
  1. HSBC Visa Cashback/Live+ (almost same cb can be covered by hdfc Swiggy card. Close any 1 among these two.)
  2. Atleast any1 of your amex cards
  3. IDFC vistara (can wait until for Vistara-AI merger)
  4. Axis VI (same as above)
  5. Idfc mayura(after FYF)
  6. SC smart
Ps: for pnb select :do 1 txn every qtr to avoid charges?. Convert sbi bpcl/cb cards.
Click to expand...
Thanks for all this, yes waiting for AI merger for vistara cards, for PNB have done txn each month, still they charged annual fee, have already mailed about it, but we know their awesome customer service, so no hopes.
 
tachniki said:
Managing 36 cards is full time job. And optimising this portfolio should be paid consulting. 😁

Good collection man! How much time did it take you to acquire all these?
Click to expand...
Mostly were acquired in 2023. Till 2022 end, had Axis Myzone, Apay and Millenia, everything else was 2023 after joining TF.
 
Shrinit Padwal said:
Hi All,
I have accumulated quite a few cards and now looking to reduce the number of paid cards and optimise my spends. I don't mind keeping LTF cards for offers/sales.
My primary go to cards would be Regalia Gold/Plat Travel and a mixture of Swiggy/Airtel/SBI cashback/live+/Gold charge
Sharing this excel sheet which I maintain


CardFeesAnniversaryWaiverLimitsComments
HDFC Tata Neu Infinity0--350000LTF card - UPI usage mostly
SBI BPCL590September5000020000only SBI card for Sales, but very low limit, will try to waive fee/LTF
SBI Cashback1180October200000150000good usage like 1L/year, dont mind paying fee, will try to waive fee/LTF
Amex Gold charge5310September-5x - used for AGC - 72k, good for 1k x 6
Amex MRCC1770August150000738000good limit, but doubtful to keep as got Plat travel, good for 4x1.5
Amex Plat Travel5900October400000150000Will start using this now, recently got it FYF
ICICI Apay0--650000Good LTF card
IndusInd Pinnacle0--300000LTF card- have exclusive acc and all my FDs are here
HSBC Visa Platinum0--150000LTF Card/HSBC card inst discounts/sales
HSBC Visa Cashback/Live+1180August200000390000Dining, for swiggy/zomato - 10%, 1.5% offline
BOB Premier0--100000LTF Bob card
BOB HPCL Energie0---LTF Card - digital card - will shift here if I close IDFC Power plus
ICICI Coral Visa0---LTF Card
ICICI Coral Rupay0---LTF Card - will close
ICICI Coral Amex0---LTF Card - will close
HDFC Regalia Gold2950July400000-Use this card for Insurances, as insurer not on Apay, primary card, will try converting LTF
IDFC Vistara5900November-350000For 1 PE ticket, one class voucher
AU Zenith0--540000AU LTF Card
IDFC Power+590August150000-Main fuel card, good return
IDFC Mayura Metal7079August--Only got for first year, will close it in 11th month
HDFC Swiggy590January200000-For spends on Swiggy/Instamart - 10% - have already received around 3k cashback, will try converting LTF
Axis MyZone0--540000First CC in Life since 2018
PNB Rupay Select885SeptemberX100000will close this card, as not much value and PNB charges annual fees - much rbi violations
ICICI MMT Signature0---LTF card
IDFC Select0---idfc core card - LTF
Kotak League Rupay0--432000Kotak rupay card - LTF
Kotak Myntra Rupay0---Kotak card - free for 3 years
Kotak Zen Signature0---LTF card
SC Smart590January120000100000will close/downgrade to LTF card
Airtel Axis590April200000-Good for Airtel payments/electricity bills/Swiggy/zomato payments
Axis Vistara Infinite11800June--1 Business ticket
RBL Shoprite0--50000RBL LTF card, not much used, kept for offers if any, just in case
Citi Ikea/ now Axis0---Dont know what to do with this card, maybe will swap for some other
Federal Signet0--100000Federal LTF card
CSB Jupiter Edge0--250000Good LTF card for rupay txns, using either of this/Tata neu



Please suggest a credit card combination to optimize utilization, and which cards I can close.
Click to expand...
All ICICI cards except Apay are useless now after devaluation there’s no benefit of keeping them you can keep one for merchant offers as most of the offers are not applicable for Apay
 
Shrinit Padwal said:
Hi All,
I have accumulated quite a few cards and now looking to reduce the number of paid cards and optimise my spends. I don't mind keeping LTF cards for offers/sales.
My primary go to cards would be Regalia Gold/Plat Travel and a mixture of Swiggy/Airtel/SBI cashback/live+/Gold charge
Sharing this excel sheet which I maintain


CardFeesAnniversaryWaiverLimitsComments
HDFC Tata Neu Infinity0--350000LTF card - UPI usage mostly
SBI BPCL590September5000020000only SBI card for Sales, but very low limit, will try to waive fee/LTF
SBI Cashback1180October200000150000good usage like 1L/year, dont mind paying fee, will try to waive fee/LTF
Amex Gold charge5310September-5x - used for AGC - 72k, good for 1k x 6
Amex MRCC1770August150000738000good limit, but doubtful to keep as got Plat travel, good for 4x1.5
Amex Plat Travel5900October400000150000Will start using this now, recently got it FYF
ICICI Apay0--650000Good LTF card
IndusInd Pinnacle0--300000LTF card- have exclusive acc and all my FDs are here
HSBC Visa Platinum0--150000LTF Card/HSBC card inst discounts/sales
HSBC Visa Cashback/Live+1180August200000390000Dining, for swiggy/zomato - 10%, 1.5% offline
BOB Premier0--100000LTF Bob card
BOB HPCL Energie0---LTF Card - digital card - will shift here if I close IDFC Power plus
ICICI Coral Visa0---LTF Card
ICICI Coral Rupay0---LTF Card - will close
ICICI Coral Amex0---LTF Card - will close
HDFC Regalia Gold2950July400000-Use this card for Insurances, as insurer not on Apay, primary card, will try converting LTF
IDFC Vistara5900November-350000For 1 PE ticket, one class voucher
AU Zenith0--540000AU LTF Card
IDFC Power+590August150000-Main fuel card, good return
IDFC Mayura Metal7079August--Only got for first year, will close it in 11th month
HDFC Swiggy590January200000-For spends on Swiggy/Instamart - 10% - have already received around 3k cashback, will try converting LTF
Axis MyZone0--540000First CC in Life since 2018
PNB Rupay Select885SeptemberX100000will close this card, as not much value and PNB charges annual fees - much rbi violations
ICICI MMT Signature0---LTF card
IDFC Select0---idfc core card - LTF
Kotak League Rupay0--432000Kotak rupay card - LTF
Kotak Myntra Rupay0---Kotak card - free for 3 years
Kotak Zen Signature0---LTF card
SC Smart590January120000100000will close/downgrade to LTF card
Airtel Axis590April200000-Good for Airtel payments/electricity bills/Swiggy/zomato payments
Axis Vistara Infinite11800June--1 Business ticket
RBL Shoprite0--50000RBL LTF card, not much used, kept for offers if any, just in case
Citi Ikea/ now Axis0---Dont know what to do with this card, maybe will swap for some other
Federal Signet0--100000Federal LTF card
CSB Jupiter Edge0--250000Good LTF card for rupay txns, using either of this/Tata neu



Please suggest a credit card combination to optimize utilization, and which cards I can close.
Click to expand...
On what basis do you expect replies on which cards to close? You haven't mentioned anything about what your total annual spends are or what categories you spend on.

Honestly, Credit Card collection is becoming more of an ego massager nowadays. New Card Launched with Joining Fee and Joining Benefits - Pounce on it to show off on Social Media.
 
tachniki said:
Managing 36 cards is full time job. And optimising this portfolio should be paid consulting. 😁

Good collection man! How much time did it take you to acquire all these?
Click to expand...
True! Paid Consulting is all about bringing sanity in this subject. Even for people spending more than 2-3 Crs a year, we have never suggested more than 5 Cards (two of which will pretty much remain in drawer and only for Online usage)
 
Tejas said:
On what basis do you expect replies on which cards to close? You haven't mentioned anything about what your total annual spends are or what categories you spend on.

Honestly, Credit Card collection is becoming more of an ego massager nowadays. New Card Launched with Joining Fee and Joining Benefits - Pounce on it to show off on Social Media.
Click to expand...
I can give a rough idea about my spends - >
6-10k around in Swiggy/zomato/dining out, some months more, some months less
insurance payments of 1.2 lacs annually - hdfc ergo - isnt properly supported on APay, hence do direct payments via website
online shopping - 1-2L annually
travelling/hotel spends - 50k-1L - might increase this year
Fuel - around 15k annually, planning for a car in the next year
NPS - 50k annually
electricity/mobile bills - around 3k a month
So overall around 6-6.5L annual spends.

Currently don't have rent - might change if I shift to another city
Regarding the Mayura card - I didn't have a metal card, so just took it for 1st year. It was a good offer for me, so took it.
Looking in the future - trying to increase my income and shifting from cashback to reward point cards and moving to higher premium cards, would be getting married in the next 2 years - would need to plan for spends on gold,want to travel more, hotel/airlines spends may increase.
 
Last edited:
Shrinit Padwal said:
Mostly were acquired in 2023. Till 2022 end, had Axis Myzone, Apay and Millenia, everything else was 2023 after joining TF.
Click to expand...
TF wasted your whole year ... Just like mine.
This portal inspired me to get 22 cards till Jan 2024. Closed 7 till Sep 2024. Wasted 1.5 years in collecting chindi rewards and 30-50 rs.
I'll keep just 10 cards, 9 LTF and 1 paid.

Moreover now I have 14 bank accounts. Thanks to TF and the threads.
 
hellobois said:
TF wasted your whole year ... Just like mine.
This portal inspired me to get 22 cards till Jan 2024. Closed 7 till Sep 2024. Wasted 1.5 years in collecting chindi rewards and 30-50 rs.
I'll keep just 10 cards, 9 LTF and 1 paid.

Moreover now I have 14 bank accounts. Thanks to TF and the threads.
Click to expand...
Totally agree. Faced same and now closing 1 every month.
All this headache/award is not worth (Unless someone is travelling every month and spending a lakh on tickets/hotels)

For a normal expenses of a salaried professional (10-15k on groceries per month, 1-2 movies per month, 1-2 dining per month, and 1-2 travel per YEAR)...... 1 or 2 credit cards are enough

Life was much better without CC 🙂
 
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