How many new credit cards can I get approved in a month / quarter / half year without affecting my cibil score drastically?

[SillyTechMan]

I'm new to the credit card maximisation game and want to know how many new credit cards can I add to my portfolio in the same month / quarter without seeing too much downside on my cibil. My cibil was 800 with 8 years credit history; and after 4 hard enquiries this month in search of adding best life time free credit cards, it dropped to 797. Since my net income is high, all the cards I'm targeting are getting approved. So my question is how many more can I keep adding per month or quarter without making a big dent in my cibil score?

 

[helloworld]

credit card maximisation game

This strategy is all about making the most of your spending by earning maximum reward points and redeeming them at the best possible value. It’s not about applying for as many cards as possible; instead, it’s about effective utilization with a select few cards that align well with your spending patterns.

Thread 'Guide to suggest a credit card - Basic requirements'

Sep 28, 2024

How to Choose the Right Credit Card for You

Simply looking at your CIBIL score or listing your existing cards won't help determine the most suitable credit card for you. To make an informed choice, you need to consider various factors.

Key Steps to Select a Credit Card:​

1. Identify Your Spending Categories
   
   Look at your monthly or annual expenses and categorize them. This will help determine which card gives the best rewards for your spending pattern.
   
   Example:
   • Amazon: ₹5,000
   • BigBasket: ₹5,000
   • Offline Grocery: ₹10,000...

• helloworld
• Replies: 8
• Forum: Suggest me a Credit Card

• 
• 
• 

Offer Fulfilled! Post in thread 'Limit Enhancement and Upgrade Offers Rolling Out!'

Oct 26, 2024

I have a salary account with HDFC and no credit card so far. Just saw emails offering Freedom card as LTF but I prefer Millenia (at least). Should I apply for this freedom and try for upgrades or wait for Millenia LTF? Any suggestions please! Also my net pay is 1.5+L per month so can it be upgraded to Preferred banking program and then expect Millenia CC LTF?

Basic Cards as Lifetime Free (LTF) May Not Be the Best Choice​

Opting for basic cards as LTF might seem appealing at first, but they often become unusable because of your increased spends and changes in preferred...

• helloworld

Choose wisely to optimize rewards without overwhelming your wallet!

 

[pothi]

how many more can I keep adding per month or quarter without making a big dent in my cibil score?

Irrespective of the number of more cards you may add going forwards, the CIBIL will bounce back to 800 or close to that mark in less than a year (after you stop applying for further cards).

 

[SillyTechMan]

it means effectively utlize your spends by earning max. reward points and redeem at best possible interest rate.

I believe it doesn't mean apply as many cards as you like. Effective utilization works with limited cards that you have to choose based on your spends.

Thread 'Guide to suggest a credit card - Basic requirements'

Sep 28, 2024

How to Choose the Right Credit Card for You

Simply looking at your CIBIL score or listing your existing cards won't help determine the most suitable credit card for you. To make an informed choice, you need to consider various factors.

Key Steps to Select a Credit Card:​

1. Identify Your Spending Categories
   
   Look at your monthly or annual expenses and categorize them. This will help determine which card gives the best rewards for your spending pattern.
   
   Example:
   • Amazon: ₹5,000
   • BigBasket: ₹5,000
   • Offline Grocery: ₹10,000...

• helloworld
• Replies: 8
• Forum: Suggest me a Credit Card

• 
• 
• 

Offer Fulfilled! Post in thread 'Limit Enhancement and Upgrade Offers Rolling Out!'

Oct 26, 2024

I have a salary account with HDFC and no credit card so far. Just saw emails offering Freedom card as LTF but I prefer Millenia (at least). Should I apply for this freedom and try for upgrades or wait for Millenia LTF? Any suggestions please! Also my net pay is 1.5+L per month so can it be upgraded to Preferred banking program and then expect Millenia CC LTF?

Basic Cards as Lifetime Free (LTF) May Not Be the Best Choice​

Opting for basic cards as LTF might seem appealing at first, but they often become unusable because of your increased spends and changes in preferred...

• helloworld

Yes, I'm not choosing those cards blindly too. Two new cards I got are Airtel Axis for airtel & utility bills, IDFC Fuel+ for fuel bills. I'd still need atleast two to three more cards that can reward me properly for my LIC, NPS and other spends. I'm looking at PNB rupay select as well for its non spend benefits like spa and medical OTT. The LTF cards I'm looking to get now are to utilize the occasional discounts that keep appearing on online & offline platforms; they're ltf anyway.

 

[helloworld]

Yes, I'm not choosing those cards blindly too. Two new cards I got are Airtel Axis for airtel & utility bills, IDFC Fuel+ for fuel bills.

after 4 hard enquiries this month in search of adding best life time free credit cards,

tell me did you got both cards or any of them as LTF? because these two statements not related to each other, IMO. My response solely based on your applications for best LTF cards, which are very very few currently.

I'd still need atleast two to three more cards that can reward me properly for my LIC, NPS and other spends. I'm looking at PNB rupay select as well for its non spend benefits like spa and medical OTT. The LTF cards I'm looking to get now are to utilize the occasional discounts that keep appearing on online & offline platforms; they're ltf anyway.

This needs further like existing cards, preferred redemption, apprx. spends in those categories etc. do check the 1st link to get better suggestions.

 

[SillyTechMan]

tell me did you got both cards or any of them as LTF? because these two statements not related to each other, IMO. My response solely based on your applications for best LTF cards, which are very very few currently.



This needs further like existing cards, preferred redemption, apprx. spends in those categories etc. do check the 1st link to get better suggestions.

I didn't get them both as LTF but I started out looking only for LTF cards and yet, decided to add Airtel Axis and IDFC HP as they were rewarding more than the fee... I'm still looking into other cards which are currently being offered to me as LTF for my other spends like HDFC Swiggy (Groceries via Instamart) and HDFC Tata Neu (Insurance). Hence I posted my original question, how many CCs can I keep adding without making a big dent in the score..

Anyways two more enquiries from Amex & HDFC today and score dropped 2 more points to 795 even though the enquiries were within 14 days. I'm not going to make any new applications for next 3 months and monitor my score after each bill payment.

 

[SillyTechMan]

Irrespective of the number of more cards you may add going forwards, the CIBIL will bounce back to 800 or close to that mark in less than a year (after you stop applying for further cards).

Approximately how much time a best case scenario should take? Could my score bounce back in 3 to 6 months if I keep doing timely payments on the two new cards I took?