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Seeking advice on optimizing my credit card portfolio.

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sai99488

sai99488

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Hey everyone,

I hope you're doing well. Just wanted to share that my Cibil score stands at 785. I've been actively using credit cards since November 2021, and here's a rundown of my cards from oldest to newest.

I'm currently on the lookout for core bank LTF credit cards with good limits, particularly on a Card C2C basis. I'm open to any new card suggestions you might have.

Thanks to the insights from this forum, I recently applied for the ICICI Platinum Chip card using Amazon Pay ICICI via Twitter, and I'm pleased to say that it got approved.

I've also applied for IDFC First on a C2C basis and have been offered the IDFC Millennia card with a 1 lakh limit. I'm currently deliberating whether this card is worth accepting. Any thoughts on the Millennia card?

Furthermore, I applied for AU Swipe Up on a C2C basis and was offered the AU Xcite Ace card. I'm wondering if this card is worth considering as well.

Here's a quick recap of my current card lineup:
1. SBI Simply Click: Limit 75K (Paid)
2. OneCard BOB: Limit 90K (LTF)
3. ICICI Amazon Pay: Limit 230K (LTF)
4. HDFC Business Moneyback: Limit 38K (LTF)
5. Edge Federal Credit Card: Limit 241K (LTF)

Looking forward to your valuable input and suggestions.
 
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Unless one runs a site like TF or has lots of time to spare, almost no one should have more credit cards than fingers on one hand 😉 You have already added 5 cards in just over 2 years. Time to take a pause and reflect. LTF cards still need your time in numerous ways. TF is full of people who got inspired by the founder's videos, amassed cards and then posted on TF how to trim their card portfolio by cancelling cards that they don't use.
 
Last edited:
sai99488 said:
Here's a quick recap of my current card lineup:
1. SBI Simply Click: Limit 75K (Paid)
2. OneCard BOB: Limit 90K (LTF)
3. ICICI Amazon Pay: Limit 230K (LTF)
4. HDFC Business Moneyback: Limit 38K (LTF)
5. Edge Federal Credit Card: Limit 241K (LTF)
Click to expand...
For the sake of readability :

1. SBI Simply Click: Limit 75K (Paid)
2. OneCard BOB: Limit 90K (LTF)
3. ICICI Amazon Pay: Limit 2.3L (LTF)
4. HDFC Business Moneyback: Limit 38K (LTF)
5. Edge Federal Credit Card: Limit 2.41L (LTF)

Close #4 and ask for Millenia. #2 any use ?
 
Based upon my experience, my advice would be not to chase for quantity in credit cards rather focus on quality with decent number of 5-6 credit cards based upon your spending pattern. Have only those credit cards which you will be using frequently. There will always be devaluations of credit cards at some point of time so no matter how good a credit card is at present, it will loose its luster in upcoming years. Trust me handling so many credit cards even though if they are LTF eats up a lot of your time, energy and mental peace will be affected in the long run.
 
cc-enthusiast said:
Based upon my experience, my advice would be not to chase for quantity in credit cards rather focus on quality with decent number of 5-6 credit cards based upon your spending pattern. Have only those credit cards which you will be using frequently. There will always be devaluations of credit cards at some point of time so no matter how good a credit card is at present, it will loose its luster in upcoming years. Trust me handling so many credit cards even though if they are LTF eats up a lot of your time, energy and mental peace will be affected in the long run.
Click to expand...
Thanks for sharing your insight! It's so true that constantly chasing after more credit cards can become overwhelming
 
techt said:
For the sake of readability :

1. SBI Simply Click: Limit 75K (Paid)
2. OneCard BOB: Limit 90K (LTF)
3. ICICI Amazon Pay: Limit 2.3L (LTF)
4. HDFC Business Moneyback: Limit 38K (LTF)
5. Edge Federal Credit Card: Limit 2.41L (LTF)

Close #4 and ask for Millenia. #2 any use ?
Click to expand...
Will closing my HDFC Business Moneyback, which is a pre-approved card, cause any issues? Can I apply for another card after closing it? I've heard that closing an HDFC card might have negative implications. Also, what are the requirements for the Millenia card?

Regarding OneCard, I primarily use it for forex transactions. It's the only card I have with a forex markup of 1%, and I also receive 1% as rewards. So, technically, the forex markup is effectively 0%.
 
dexter_greycells said:
Unless one runs a site like TF or has lots of time to spare, almost no one should have more credit cards than fingers on one hand 😉 You have already added 5 cards in just over 2 years. Time to take a pause and reflect. LTF cards still need your time in numerous ways. TF is full of people who got inspired by the founder's videos, amassed cards and then posted on TF how to trim their card portfolio by cancelling cards that they don't use.
Click to expand...
Very wise advice! It's easy to get caught up in the excitement of accumulating credit cards, I am considering limiting myself to holding a maximum of nine cards at any given time.
 
techt said:
I guess

1. SBI Simply Click: Limit 75K (Paid)
3. ICICI Amazon Pay: Limit 2.3L (LTF)

are enough.
Click to expand...
I'll include OneCard in this list due to its 0% forex markup.
Is there any issue with keeping the Edge Federal card? it is a LTF and It has good limit,
 
sai99488 said:
I'll include OneCard in this list due to its 0% forex markup.
Is there any issue with keeping the Edge Federal card? it is a LTF and It has good limit,
Click to expand...
Just because its LTF don't hold the card. But limit is a concern here.
Try to retrospect your spends and see if you really need any card, if not keep closing.

sai99488 said:
Will closing my HDFC Business Moneyback, which is a pre-approved card, cause any issues? Can I apply for another card after closing it? I've heard that closing an HDFC card might have negative implications. Also, what are the requirements for the Millenia card?
Click to expand...
Don;t further implications of closing a HDFC card. But currently MB that you have is no use.
 
Based on recommendations, I've terminated the following three cards as they no longer provide significant benefits:
1. SBI Simply Click: Limit 75K (Paid)
2. HDFC Business Moneyback: Limit 38K (LTF)
3. Edge Federal Credit Card: Limit 2.4L (LTF)

In their place, I've acquired the following two cards:
1. ICICI Platinum Chip: Limit 2.3L (LTF)
2. Axis My Zone: Limit 97K (LTF)

Here's the updated lineup of my current cards:

1. OneCard BOB: Limit 90K (LTF)
- 0% forex fee, 5% utility cashback

2. ICICI Amazon Pay: Limit 2.3L (LTF)
- 1% cashback on offline/online purchases, 3% cashback on Amazon purchases

3. ICICI Platinum Chip: Limit 2.3L (LTF)
- Benefits related to Amazon sales

4. Axis My Zone: Limit 97K (LTF)
- Buy One Get One movie tickets offer

If you have any suggestions for further optimization or if there are any other worthwhile Lifetime Free cards that offer significant benefits, please feel free to share.
 
techt said:
Can you explain the 5% cb on utils ? Couldn't find any info on it.
Click to expand...
i have seen it on amazon pay, just now i checked it in the onecard website,

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i think it not good, i primarily use this card for forex transactions because of 0% forex markup fee
 
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