Impact on cibil score by cc upgrade

[_rg]

When you upgrade your oldest credit card , does your cibil score has a negative effect??
Upon upgrading your cc do you get a new card with same account number or does your older card account gets closed and you get new account number??

 

[CMGCMG is verified member.]

When you upgrade your oldest credit card , does your cibil score has a negative effect??
Upon upgrading your cc do you get a new card with same account number or does your older card account gets closed and you get new account number??

same old account continues for axis and hdfc.

 

[Lakshya Mahani]

If i downgrade/upgrade my father's 6 yr old sbi simplysave card to any other sbi card by flipping it, will that close the card account and create a new one or it will continue?

 

[Anil_Singh]

If i downgrade/upgrade my father's 6 yr old sbi simplysave card to any other sbi card by flipping it, will that close the card account and create a new one or it will continue?

New card will reflect with old card age and old card account will be closed in CIBIL. Same happened with me when I upgraded.

 

[Lakshya Mahani]

New card will reflect with old card age and old card account will be closed in CIBIL. Same happened with me when I upgraded.

Actually i was thinking to flip my father's simplysave card to BPCL as the card is of no use to us, just wanted to hold a sbi card for offers only.

 

[Anil_Singh]

Actually i was thinking to flip my father's simplysave card to BPCL as the card is of no use to us, just wanted to hold a sbi card for offers only.

BPCL reward points redemption is limited. Amazon vouchers are expensive compared to simplysave and simplyclick. BPCL rewards are only good for fuel transactions/vouchers that too only at selected BPCL pumps. You won't get surcharge wavier and reward points at other fuel pumps. Research before upgrading.

 

[deep@vie]

When you upgrade your oldest credit card , does your cibil score has a negative effect??
Upon upgrading your cc do you get a new card with same account number or does your older card account gets closed and you get new account number??

yes,1

 

[Lakshya Mahani]

As Simplysave is not a rewarding card anymore( as they don't give RP on instant discount transactions and no accelerated RP on online spends), so it doesn't matter. Moreover, I wanted to have a fuel card( preferably SBI for instant discount online and low spend criteria W.R.T simplyclick).

 

[Anil_Singh]

I got BPCL card offer along with 1000 Amazon voucher and 2000 reward points (redeemable at BPCL pumps). So, I got it with 10000 limit split from my simplyclick. Will use that card till I redeem those points and utilize voucher and then will close it. Will take 2 months according to me for this entire process. But I am ok with it because I will be getting 1000 Amazon voucher. Joining fees is compensated with 2000 reward points (500 worth petrol). So, no loss for me.

 

[Anil_Singh]

As Simplysave is not a rewarding card anymore( as they don't give RP on instant discount transactions and no accelerated RP on online spends), so it doesn't matter. Moreover, I wanted to have a fuel card( preferably SBI for instant discount online and low spend criteria W.R.T simplyclick).

BPCL card gives reward points on instant discount transactions?

 

[Lakshya Mahani]

BPCL card gives reward points on instant discount transactions?

i am not sure, but the main reason to downgrade is that this card's fee waiver condition is to spend just 50k, also it gets applied on sbi online offers, i don't need this for RP, also will be using this card for fuel a few times as well.
Also, if i spend 1 lakh with any other card, i will get a minimum of 1000Rs(1%), which is not in the case of simplysave, but i am ok with spending 50k as it will waive off 500Rs fee for me.

 

[Anil_Singh]

i am not sure, but the main reason to downgrade is that this card's fee waiver condition is to spend just 50k, also it gets applied on sbi online offers, i don't need this for RP, also will be using this card for fuel a few times as well.
Also, if i spend 1 lakh with any other card, i will get a minimum of 1000Rs(1%), which is not in the case of simplysave, but i am ok with spending 50k as it will waive off 500Rs fee for me.

Also try for Amazon Pay ICICI credit card if you don't have it yet. Its reward value is far more better than simplyclick/simplysave/bpcl/1% cards. There was recently 'No documents required' notification in my Amazon app, applied for it, approved in 48 hours. Also, its an LTF card. I posted a thread about asking some info about it 2 days ago, but that thread got deleted. No idea why.

 

[pranavcool]

I don't think impact is there

 

[Lakshya Mahani]

Also try for Amazon Pay ICICI credit card if you don't have it yet. Its reward value is far more better than simplyclick/simplysave/bpcl/1% cards. There was recently 'No documents required' notification in my Amazon app, applied for it, approved in 48 hours. Also, its an LTF card. I posted a thread about asking some info about it 2 days ago, but that thread got deleted. No idea why.

Yeah. i have apay card with a decent limit of 1.20 lakhs, and you are absolutely correct that it is far more rewarding card than sbi cards, also i have hdfc millennia for backup purpose. If i spend 1 lakh in a quarter on hdfc millennia, i will get 1% cashback and 1k gv(milestone benefit), so yeah Sbi cards are no more rewarding.
Just needed a sbi card for instant discount, BPCL will easily do that.

 

[Anil_Singh]

Yeah. i have apay card with a decent limit of 1.20 lakhs, and you are absolutely correct that it is far more rewarding card than sbi cards, also i have hdfc millennia for backup purpose. If i spend 1 lakh in a quarter on hdfc millennia, i will get 1% cashback and 1k gv(milestone benefit), so yeah Sbi cards are no more rewarding.
Just needed a sbi card for instant discount, BPCL will easily do that.

You are utilizing cards to their maximum rewards. Thumbs up.

 

[Lakshya Mahani]

You are utilizing cards to their maximum rewards. Thumbs up.

Thanks!