Regret after closing Credit Card - Share your experience

[RockyBond]

We all post how to get credit cards here . But sometimes we close existing credit cards and then regret later thinking it was a big mistake.

Let's share our experiences so we can learn from them.

My regret - Closing One Card as it was FD based. After using for an year closed it but then one card never gave me a card . Really regret as I will miss one card offers and probably never get it again.

 

[rajcasio]

Closed RBL BAJAJ SUPERCARD 999 + GST - had since 2018 - my first UNSECURED CC - my highest credit limit cc till now with 5.6L
Annual waiver spend increased from 50k - 100k
RP is not that good
Low usage
Have to request for annual fee waiver every year
Not ready to offer a LTF CC
REGRET - YES but slightly because i have other 12 CC's to handle now

 

[raghu.rokda]

Closed RBL BAJAJ SUPERCARD 999 + GST - had since 2018 - my first UNSECURED CC - my highest credit limit cc till now with 5.6L
Annual waiver spend increased from 50k - 100k
RP is not that good
Low usage
Have to request for annual fee waiver every year
Not ready to offer a LTF CC
REGRET - YES but slightly because i have other 12 CC's to handle now

Without spending, you get annual fee waiver ?

 

[rajcasio]

Without spending, you get annual fee waiver ?

Yup. without GST

 

[rogerthat]

I had an axis Indian oil rupay credit card with limit 1.8L. I closed it within a week of getting it. Used the 250 rs fuel cashback offer. When I called cc to close it first time, they gave me 2500 edge reward points. 2nd time they gave me 2000 points. I redeemed all that for a bata voucher and bought a shoes. Third time I called asked them to close it permanently. They tried to lure me with more offers but I declined. Now I regret because If I had kept it and used it, I would have used it to get higher variant axis card later. Now I need to restart the whole journey from zero.

But why did you close it? And how were you so surback then but regretting it now!

 

[raghu.rokda]

Yup. without GST

Means annual fee 180 only
How you convince them for annual fee waiver?

 

[rajcasio]

Means annual fee 180 only
How you convince them for annual fee waiver?

You need not threaten them to close the CC. Just send them a email to waive the fee and they do it without any hesitation.

 

[Ankur dhanda]

I just closed my Samsung infinite and Vistara Infinite today.
No retention offer for Samsung card, got 3K CV points for VI.
No regrets, wasn’t using either of them.

 

[Anksh38]

We all post how to get credit cards here . But sometimes we close existing credit cards and then regret later thinking it was a big mistake.

Let's share our experiences so we can learn from them.

My regret - Closing One Card as it was FD based. After using for an year closed it but then one card never gave me a card . Really regret as I will miss one card offers and probably never get it again.

I also closed one card for only being FD backed card, but no regret. Now have another, better than that.

 

[cardio_guy]

But why did you close it? And how were you so surback then but regretting it now!

Wrong decision. What to do now

 

[sourpai]

I recently closed my IDFC WoW card. I had created FD last year with 6.5% interest and it got auto renewed at the same rate where as current IDFC rates are 7.5%. So effectively you would end up paying 1% of FD as annual fees on this card just to maintain. Asked bank to redo FD at 7.5% but they said such process does not exist. So finally closed this card.

I will mostly re apply after 2-3 months as I find this card quite useful for foreign ATM cash withdrawals and 0% forex fees

 

[KT Shanmuganathan]

I recently closed my IDFC WoW card. I had created FD last year with 6.5% interest and it got auto renewed at the same rate where as current IDFC rates are 7.5%. So effectively you would end up paying 1% of FD as annual fees on this card just to maintain. Asked bank to redo FD at 7.5% but they said such process does not exist. So finally closed this card.

I will mostly re apply after 2-3 months as I find this card quite useful for foreign ATM cash withdrawals and 0% forex fees

did you withdrawal money in foreign ATMs, could you please share the Fee / charges details.

Is this possible to pay higher amount in advance and use the card in foreign ?

 

[sourpai]

did you withdrawal money in foreign ATMs, could you please share the Fee / charges details.

Is this possible to pay higher amount in advance and use the card in foreign ?

Check this thread all the details are mentioned - https://www.technofino.in/community/threads/need-advice-on-idfc-wow-credit-card.14782/post-408751

 

[emadiqbalali]

We all post how to get credit cards here . But sometimes we close existing credit cards and then regret later thinking it was a big mistake.

Let's share our experiences so we can learn from them.

My regret - Closing One Card as it was FD based. After using for an year closed it but then one card never gave me a card . Really regret as I will miss one card offers and probably never get it again.

Closed IDFC Millennia after trying to increase the limit but to no avail. I did regret but after 5 months, I was offered 3.75x more limit and got Select. Regret turned into happiness.

Closed SBI Prime, did miss Pizza vouchers and regret but the fee wasn't worth the value I was getting so closed it and got Amex Plat Travel instead.

Closed Kotak Dream 811, did regret when no one still was giving me card as I got this card to build score but then OneCard came as a savior.

Closed Axis Privilege, I got regret when I took this card. However, was able to extract 5,000 ER Points 2 times I called them to close the card and they offered those points for retaining.

 

[yolofino]

Closed IDFC Millennia after trying to increase the limit but to no avail. I did regret but after 5 months, I was offered 3.75x more limit and got Select. Regret turned into happiness.

Did you apply via same mobile number as in previous idfc card? It's been 5 months for me but everytime I apply, they say no offer.

 

[emadiqbalali]

Did you apply via same mobile number as in previous idfc card? It's been 5 months for me but everytime I apply, they say no offer.

Yes, I got the SMS for pre-approved card on the same number. I also opened the account in IDFC and it was 3 months when I got the sms.

 

[vega]

I closed recently FK Axis CC, no regrets..
The one that pissed me off big time with this card was, they kept on increasing the the annual limit from 1.5 l to 3.5 now I think...
Its a big NO NO as I was plannig my spends on different cards, this Axis is so unreliable...

Should I close my Axis IOCL card? Just a month in this card. Will it impact CIBIL?

 

[SSV]

Should I close my Axis IOCL card? Just a month in this card. Will it impact CIBIL?

No impact .. sometimes depends on other factors

 

[vega]

No impact .. sometimes depends on other factors

Well, the bill is not generated yet. Will the bill be reported to cibil in case axis generates before closing?

 

[SSV]

Well, the bill is not generated yet. Will the bill be reported to cibil?

Did you spend anything?

 

[imdjay]

SBM FD backed One card-
Now I cannot have it again. every month I used to easily get 5x rewards points and pay bill with the same.
Closing reason- One card customer service quality issue.