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. 🙁

 

[vega]

Did you spend anything?

yes, the fuel purchasing.

 

[SSV]

yes, the fuel purchasing.

Did you pay back that amount? What is your current balance? You need to clear your balance before closure..
It will be reported to CIBIL with closing date mentioned

 

[vega]

Did you pay back that amount? What is your current balance? You need to clear your balance before closure..
It will be reported to CIBIL with closing date mentioned

All paid. If reported, then it's a bad idea, right?

 

[SSV]

All paid. If reported, then it's a bad idea, right?

No don’t worry for just one time..
How old is your credit profile?

 

[vega]

No don’t worry for just one time..
How old is your credit profile?

About 4 years

 

[MOhit __]

I haven't closed any card yet, but Im considering closing the One card in order to obtain a federal core card. 😳

 

[SSV]

About 4 years

Then don’t worry, you can close this.
What’s your CIBIL score ?

 

[Deleted member 21942]

I haven't closed any card yet, but Im considering closing the One card in order to obtain a federal core card. 😳

Same is the case for me. But OneCard is now offering good rewards and OneCard won't issue the card again if I close it. I hope Federal bank changes this shit policy of having only 1 credit card with them.

 

[partritronix]

I closed Axis Flipkart card and no regrets now.

 

[imdjay]

I haven't closed any card yet, but Im considering closing the One card in order to obtain a federal core card. 😳

Also @RAMDV do not close directly. Ask one card to change the partner bank. If they do that, you will be able to obtain fed bank

 

[Deleted member 21942]

Also @RAMDV do not close directly. Ask one card to change the partner bank. If they do that, you will be able to obtain fed bank

Till now I have not seen anyone for whom OneCard has changed the partnered bank.

 

[ahmedshaikh__]

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 a 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. 🙁

Well I regret closing axis Flipkart cc coz they offered me to upgrade to my zone or downgrade to neo I said no coz both of them was paid n I wanted LTF but later I got know they can make ltf of there card if it’s not co branded

 

[MOhit __]

Also @RAMDV do not close directly. Ask one card to change the partner bank. If they do that, you will be able to obtain fed bank

No, they do not change partnerr banks

 

[RAMESH BABU N]

They DO NOT change SBM to some other bank.

They DO NOT give metal card - even at extra cost. But, they give it free for every new customer. Strange.

Even after 1 year, they WILL NOT allow closure of FD - and convert the secured card to unsecured.

They DO NOT ISSUE a metal card as second card - with another partner bank - even after retaining the first SBM card.

I tried all the above options.

 

[purushotham]

Even I closed Kotak, RBL and IndusInd cards no use no benifits and no discounts.

And kept

HDFC - Tata & IOCL ( LTF )
ICICI - Apay , Mine & Coral ( LTF)
Axis - Airtel (Paid) Neo & My zone ( LTF )

These are enough for me with Rupay in all bank's and only one Paid card .And other online and offline offers. All banks have 1L limit. And I use my cousins SBI card which is an Add-on for SBI offers.

In Future I want to have 3L -5L limit on all cards and upgrade to Premium cards in all 3 banks

 

[newinnov]

Even I closed Kotak, RBL and IndusInd cards no use no benifits and no discounts.

And kept

HDFC - Tata & IOCL ( LTF )
ICICI - Apay , Mine & Coral ( LTF)
Axis - Airtel (Paid) Neo & My zone ( LTF )

These are enough for me with Rupay in all bank's and only one Paid card .And other online and offline offers. All banks have 1L limit. And I use my cousins SBI card which is an Add-on for SBI offers.

In Future I want to have 3L -5L limit on all cards and upgrade to Premium cards in all 3 banks

Mine is charged monthly though, how you converted it ltf?

 

[purushotham]

Mine is charged monthly though, how you converted it ltf?

If we choose 5% cashback plan then it is 49 and 149 fees

For 1% cashback no fees