Multiple ICICI Cards and credit rating

[srikant]

I got my first BoBCard around Dec 2013, and HDFC MoneyBack May 2015 or so. Then I got cranked up after RuPay credit cards happened 2023 or so, almost simultaneously with credit cards on UPI. In 2023, got PNB in Mar, got BoB replaced with RuPay in Apr/May, then got Kotak in Jun, ICICI Platinum in Jul or something and so on. Got a second Kotak, IndusInd Legend and Platinum RuPay, and IDFC Millenia subsequently.

Then sometime later, the Alumnus Sapphiro LTF came in, which I picked up. ICICI more limit since this is premium. Then ICICI finally started giving Coral RuPay with UPI, so I picked up that one too. And then it gave limit increases multiple times. Currently at INR 6.5L.

Now, I wonder how this shared-limit of ICICI is interpreted. Especially given its generous limit, it can rapidly increase exposure if these are interpreted as independent accounts.

In that case, I think I should probably close one (or more) of them. Any suggestions on what to do? I'm also about to pick up a high-limit card offered to me by Utkarsh SFB, which I have an account with, so I think now's a good time to close ...

 

[VISION]

@Swastik @aniketkr.sharma
For ICICI
Core cards are reported in single account for cibil (platinum,coral,rubxy,sapphiro) & For Emerald seperate account.
and For co-branded cards- separate accounts for each co-branded card(amazon,makemytrip etc).
For Axis
separate account for each.
Don't know about HDFC as i don't have

 

[VISION]

Can someone help me? I have an ICICI Bank Platinum credit card with 3,372 reward points accumulated so far, and I need 4,000 points to redeem. Where would it be best to make transactions to earn the additional 700 reward points, and how much should I spend?
Also, how many days does it take for reward points to be credited?
And are there any charges for redeeming reward points?

usually after statement generation, rs.99+gst

 

[Swastik]

@Swastik @aniketkr.sharma
For ICICI
Core cards are reported in single account for cibil (platinum,coral,rubxy,sapphiro) & For Emerald seperate account.
and For co-branded cards- separate accounts for each co-branded card(amazon,makemytrip etc).
For Axis
separate account for each.
Don't know about HDFC as i don't have

For me,
ICICI reports MMT Signature, Coral, Amazon Pay and Sapphiro separately

Axis reported Vistara Signature and Magnus Separately

HDFC reports DCB and Tata Neu Infinity Separately

While for each bank they all share limit,
When Canara Branch Manager did my cibil enquiry, he was absolutely perplexed with my number of cards, i had explain him this things, he still wasn't very convinced

 

[VISION]

For me,
ICICI reports MMT Signature, Coral, Amazon Pay and Sapphiro separately

Axis reported Vistara Signature and Magnus Separately

HDFC reports DCB and Tata Neu Infinity Separately

While for each bank they all share limit,
When Canara Branch Manager did my cibil enquiry, he was absolutely perplexed with my number of cards, i had explain him this things, he still wasn't very convinced

For ICICI it should be 3 accounts in your case. sometime they mess up.

 

[srikant]

4 seperate credit accounts with 6.1L limits each on cibil

Yes, that's why I think I should cancel something to reduce exposure?

Does that make sense? If so, which one do you suggest cancelling? I am mostly thinking Platinum ...

 

[Swastik]

Yes, that's why I think I should cancel something to reduce exposure?

Does that make sense? If so, which one do you suggest cancelling? I am mostly thinking Platinum ...

I'm recently on a cancelation spree to reduce my overall credit exposure,
It was triggered when i noticed i have not been getting any credit limit increase from ICICI and HDFC lately

- I have already canceled my Onecard
- IDFC upgraded my Select to Wealth on cancelation, so will keep for a few months and then cancel if feels useless
- Yes Finbooster will be canceled in Nov as soon as bill is generated and paid
- ICICI Amazon Pay is on my list, haven't made up my mind on this as of now

My overall advice would to cut out the clutter, any cards that are useless, cancel them

 

[aniketkr.sharma]

Yes, that's why I think I should cancel something to reduce exposure?

Does that make sense? If so, which one do you suggest cancelling? I am mostly thinking Platinum ...

Yeah Platinum is now a waste card unless you have to pick any ongoing offer multiple times

 

[VISION]

Yes, that's why I think I should cancel something to reduce exposure?

Does that make sense? If so, which one do you suggest cancelling? I am mostly thinking Platinum ...

as u have sapphiro , u no need to have platinum