Need help to reduce my credit cards - Need suggestion on which one to close

[dravidsarang]

Hello All,

I have the following active CC (paid and ltf), need inputs to decide which one to close:

Paid:
1. AMEX MRCC (main driver, mostly doing 20K+ transactions/month).
2. Airtel Axis (Only for Airtel BB and ISP recharge) - annual fee deducted in recent statement. (Planning to close).
3. SBI Cashback (Used for nearly every online transaction - FK/Amazon/FirstCry/Zomato/Swiggy/etc.)

LTF:
1. ICICI APAY (mostly not useful due to SBI cashback) - Oldest card, cannot close as it will hit CIBIL adversly.
2. OneCard Metal (Federal)
3. Indusind Legend (Planning to close)
4. ICICI Rubyx (Planning to close)
5. IDFC Wealth
6. Tata Neu Infinity (used for all UPI spends + utilities).
7. HDFC Regalia (getting FYF upgrade to DCP). - Should not close as this will pave the way to Infinia.

Thank you!

 

[akshayhs]

No use of closing ltf cards unless you're having excess credit to income ratio

 

[Aditya Jha]

Hello All,

I have the following active CC (paid and ltf), need inputs to decide which one to close:

Paid:
1. AMEX MRCC (main driver, mostly doing 20K+ transactions/month).
2. Airtel Axis (Only for Airtel BB and ISP recharge) - annual fee deducted in recent statement. (Planning to close).
3. SBI Cashback (Used for nearly every online transaction - FK/Amazon/FirstCry/Zomato/Swiggy/etc.)

LTF:
1. ICICI APAY (mostly not useful due to SBI cashback) - Oldest card, cannot close as it will hit CIBIL adversly.
2. OneCard Metal (Federal)
3. Indusind Legend (Planning to close)
4. ICICI Rubyx (Planning to close)
5. IDFC Wealth
6. Tata Neu Infinity (used for all UPI spends + utilities).
7. HDFC Regalia (getting FYF upgrade to DCP). - Should not close as this will pave the way to Infinia.

Thank you

You can close airtel axis, as you have tata neu infinity for utility.

 

[asahi]

close icci apay it won’t affect cibil report, definitely not adversely, i closed so many cards literally so many including my oldest cards never dropped for that reason. In my experience cibil scores only drops, when there are so many enquiries/late payments & so many new accounts in a short period of time. Cibil score drops has nothing to do with Card closures(Again taking it from my personal experience)
Close indusind legend card, icici rubyx, if possible One Card(not recommended). Close Airtel as you have Tata Neu.

 

[SunnyM]

Just my opinion. Don't close any card. You have a great collection from my prospective.

 

[dravidsarang]

close icci apay it won’t affect cibil report, definitely not adversely, i closed so many cards literally so many including my oldest cards never dropped for that reason. In my experience cibil scores only drops, when there are so many enquiries/late payments & so many new accounts in a short period of time. Cibil score drops has nothing to do with Card closures(Again taking it from my personal experience)
Close indusind legend card, icici rubyx, if possible One Card(not recommended). Close Airtel as you have Tata Neu.

in my opinion, closing your oldest credit card affects your credit age which directly impacts your credit score.
currently my CIBIL is 803 and Experian is at 836, I do not want to risk to drop cibil below 800 as it may impact my near term HL requirements.

 

[shrewdoc]

ICICI card provides great offers and discounts periodically as well as in almost all the sales. APay won't work there. You need to have a core gemstone card for that.

You can close Legend and One Card (after own research)

 

[MOhit __]

In the last 3 months, I have closed 6 of my 26 cards.
Do not close any more cards as you already have fewer cards

 

[Card_Crafter]

Keeping atleast one card from each bank always becomes handy while doing online transactions. You have only 10 cards, I won't recommend closing any card.

 

[dravidsarang]

Thank you all for your valuable feedback.
I will only go ahead and close my Airtel Axis and instead will get a Axis Core card (getting Neo as LTF).
will keep rest of them, IndusInd helped me get free timesprime twice