Credit Card Portfolio Review

[logu]

I've been building my credit card portfolio over the last three years, starting with an HDFC Moneyback card that had a limit of ₹1.5L. Despite regular usage, I haven't received any limit enhancement (LE) from HDFC. The current limit of ₹1.95L is due to my Tata Neu card. Got millennia through escalation.

Here are the cards I currently hold:

1. Amex: Platinum Travel (₹5.05L limit), MRCC (₹1.95L limit), and Gold Charge
2. OneCard by BOB: (₹4.15L limit)
3. HDFC: Millennia and Tata Neu Infinity RuPay (₹1.95L limit)
4. ICICI: Rubyx Dual Variant (₹1.7L limit)
5. IDFC: Vistara (₹1.65L limit)
6. Kotak: Zen Signature (₹1.4L limit)
7. Axis: Airtel (₹1.38L limit)
8. IndusInd: Legend (₹75k limit)
9. SBI: Cashback (₹75k limit) and Vistara Prime (₹65k limit)
10. RBL: Icon (₹53k limit)

The chargeable cards are: Amex cards, Axis Airtel, and the two Vistara cards. All the others are LTF.

I'm considering closing a few cards. I believe accepting a higher limit on the OneCard may have been a mistake, as it increased the ratio, potentially affecting my chances of getting premium cards approved. Even IDFC has not been approving their core cards for me.

1. Which cards would you suggest I close to improve my chances for premium cards?
2. Which premium card should I get to consolidate my spending? Currently using Amex cards for Apay vouchers and bigger insurance payments and Vistara cards for offline spending. Interested in redeeming towards airlines.

 

[pslashb]

How much is your spending?

 

[logu]

How much is your spending?

Can say 10 lakhs including insurance and utility spends. Very less of materialistic spends.

 

[EternallyHopeful]

I've been building my credit card portfolio over the last three years, starting with an HDFC Moneyback card that had a limit of ₹1.5L. Despite regular usage, I haven't received any limit enhancement (LE) from HDFC. The current limit of ₹1.95L is due to my Tata Neu card. Got millennia through escalation.

Here are the cards I currently hold:

1. Amex: Platinum Travel (₹5.05L limit), MRCC (₹1.95L limit), and Gold Charge
2. OneCard by BOB: (₹4.15L limit)
3. HDFC: Millennia and Tata Neu Infinity RuPay (₹1.95L limit)
4. ICICI: Rubyx Dual Variant (₹1.7L limit)
5. IDFC: Vistara (₹1.65L limit)
6. Kotak: Zen Signature (₹1.4L limit)
7. Axis: Airtel (₹1.38L limit)
8. IndusInd: Legend (₹75k limit)
9. SBI: Cashback (₹75k limit) and Vistara Prime (₹65k limit)
10. RBL: Icon (₹53k limit)

The chargeable cards are: Amex cards, Axis Airtel, and the two Vistara cards. All the others are LTF.

I'm considering closing a few cards. I believe accepting a higher limit on the OneCard may have been a mistake, as it increased the ratio, potentially affecting my chances of getting premium cards approved. Even IDFC has not been approving their core cards for me.

1. Which cards would you suggest I close to improve my chances for premium cards?
2. Which premium card should I get to consolidate my spending? Currently using Amex cards for Apay vouchers and bigger insurance payments and Vistara cards for offline spending. Interested in redeeming towards airlines.

Does higher limits on other cards actually hamper your chances of getting premium cards? I never knew this. TF experts can shed some light here.

 

[drsel]

If your income tax returns are quite low and your card limits already assigned are quite high, then it will hamper; otherwise not.

 

[drsel]

Getting a higher credit card limit is a big boost to your status, like getting a visa of the best countries in the world

 

[Dragon_slayer]

If you can maintain balance they only credit cards you will ever need is Magnus Burgundy and IDFC vistara.

 

[logu]

If your income tax returns are quite low and your card limits already assigned are quite high, then it will hamper; otherwise not.

Yes. This is the exact issue. Income to credit limit ratio. Since I’m in family business most of the spends are not directly mine and is of family’s and are is paid by them and my income number in itr is too low

 

[logu]

Getting a higher credit card limit is a big boost to your status, like getting a visa of the best countries in the world

Yes the only card with 5L CL is Amex Platinum travel and what is the card that I can get C2C based on this?

 

[logu]

If you can maintain balance they only credit cards you will ever need is Magnus Burgundy and IDFC vistara.

If you can maintain balance they only credit cards you will ever need is Magnus Burgundy and IDFC vistara.

Right. But maintaining 10L will be difficult

 

[pslashb]

Can say 10 lakhs including insurance and utility spends. Very less of materialistic spends.

You can go ahead and close the ones which you barely use.

I don't see any premium card that will help you with your goals given your low spends. Stick with the ones you have. Infinia can be a good allrounder card if you can get it

 

[Piyush Yadav]

Does higher limits on other cards actually hamper your chances of getting premium cards? I never knew this. TF experts can shed some light here.

Also think same... TF experts?

 

[TechnoFi]

I've been building my credit card portfolio over the last three years, starting with an HDFC Moneyback card that had a limit of ₹1.5L. Despite regular usage, I haven't received any limit enhancement (LE) from HDFC. The current limit of ₹1.95L is due to my Tata Neu card. Got millennia through escalation.

Here are the cards I currently hold:

1. Amex: Platinum Travel (₹5.05L limit), MRCC (₹1.95L limit), and Gold Charge
2. OneCard by BOB: (₹4.15L limit)
3. HDFC: Millennia and Tata Neu Infinity RuPay (₹1.95L limit)
4. ICICI: Rubyx Dual Variant (₹1.7L limit)
5. IDFC: Vistara (₹1.65L limit)
6. Kotak: Zen Signature (₹1.4L limit)
7. Axis: Airtel (₹1.38L limit)
8. IndusInd: Legend (₹75k limit)
9. SBI: Cashback (₹75k limit) and Vistara Prime (₹65k limit)
10. RBL: Icon (₹53k limit)

The chargeable cards are: Amex cards, Axis Airtel, and the two Vistara cards. All the others are LTF.

I'm considering closing a few cards. I believe accepting a higher limit on the OneCard may have been a mistake, as it increased the ratio, potentially affecting my chances of getting premium cards approved. Even IDFC has not been approving their core cards for me.

1. Which cards would you suggest I close to improve my chances for premium cards?
2. Which premium card should I get to consolidate my spending? Currently using Amex cards for Apay vouchers and bigger insurance payments and Vistara cards for offline spending. Interested in redeeming towards airlines.

You stated that SBI cashback card in your hand is LTF. So I request you kindly share the method to get it LTF.

 

[logu]

You stated that SBI cashback card in your hand is LTF. So I request you kindly share the method to get it LTF.

I’ve spent over 5L in a year, cleared all the outstanding and called them to make it ltf or go ahead with cancellation.

It was a risky move, but they made it ltf

 

[TechnoFi]

I’ve spent over 5L in a year, cleared all the outstanding and called them to make it ltf or go ahead with cancellation.

It was a risky move, but they made it ltf

thanks for sharing your method. Yes it was risky......