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Should I close my Flipkart Axis Bank?

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varun.rt

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Hello!
I currently hold a charagable Fk Axis bank card that i only use to shop on fk, and that too rarely. I also have a SBI cashback card that I often use given the 5% cachback,
I had put in a request to convert the card to LTF, but got denied. Now i know that keeping both card doesn't make send, esp. after the devaluation.
The reason why I'm hesitating to close the Fk card is coz that is my first ever credit card ever, with credit account more than 2 years old. Currently my CIBIL is around 766, and they say having a old account works improve the score, but also I dont want to be spending Rs.500+GST for no reason.
Hence, seeking the community's opinion on what should i do?
 
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Similar situation! You may use the CIBIL simulator to find out the impact if you close the FK. I closed my oldest card which is FK because I have the SBI CB. In my case closing the FK had no impact as said by the simulator last year.
 
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I was also in the same situation and ended up closing Axis FK 2 months back, just before renewal month. Customer care said they can't make it LTF as it's a cobranded card and they closed it on the call itself. Till now no effect on Cibil, but in my case, it wasn't one of my initial cards.
 
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varun.rt said:
Hello!
I currently hold a charagable Fk Axis bank card that i only use to shop on fk, and that too rarely. I also have a SBI cashback card that I often use given the 5% cachback,
I had put in a request to convert the card to LTF, but got denied. Now i know that keeping both card doesn't make send, esp. after the devaluation.
The reason why I'm hesitating to close the Fk card is coz that is my first ever credit card ever, with credit account more than 2 years old. Currently my CIBIL is around 766, and they say having a old account works improve the score, but also I dont want to be spending Rs.500+GST for no reason.
Hence, seeking the community's opinion on what should i do?
Click to expand...
No problem you can cut off relationship with Axis

Cibil does not effect, close that card, don't worry cibil score, would eventually will increase.
 
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m4b said:
Similar situation! You may use the CIBIL simulator to find out the impact if you close the FK. I closed my oldest card which is FK because I have the SBI CB. In my case closing the FK had no impact as said by the simulator last year.
Click to expand...
Thanks where you get this CIBIL simulator and what data do you need to input?
 
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varun.rt said:
Hello!
I currently hold a charagable Fk Axis bank card that i only use to shop on fk, and that too rarely. I also have a SBI cashback card that I often use given the 5% cachback,
I had put in a request to convert the card to LTF, but got denied. Now i know that keeping both card doesn't make send, esp. after the devaluation.
The reason why I'm hesitating to close the Fk card is coz that is my first ever credit card ever, with credit account more than 2 years old. Currently my CIBIL is around 766, and they say having a old account works improve the score, but also I dont want to be spending Rs.500+GST for no reason.
Hence, seeking the community's opinion on what should i do?
Click to expand...
If you want to apply for any credit card within next few months AND your second oldest credit card is not more than an year old, then don't close the FK CC: till the second oldest card turns at least 1y old OR till you get you next CC (assuming you won't be applying for the next-to-next CC soon)
Else close the FK card.

Credit history >2y se <2y and >1y ho gayi to jyada kuch farak nahi padega score pe. Aur recover bhi jaldi hi ho jayega.
 
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