Should I surrender these cards?

[Heyyy]

Hi All,

I need your suggestion to take a call on surrendering/closing few of my credit cards, though I know it's always good to keep the given credit facility with you and not surrender.

But I feel due to having 15+ credit cards, it may be restrictive for other lending banks to issue new cards to me.



Cards which I am thinking of surrendering -

1. Yes Bank Reserve - Limit of Rs 1lakh - annual fee Rs2500 + GST
Never used since issuance

2. RBL World Safari - Limit of Rs50k - annual fee Rs 3k + GST
Use it but not worth paying its annual fee

3. SC Smart - shared limit with SC Ultimate - Annual fee of nearly Rs500 + GST
Seldom usage. I mistook it as SC DigiSmart.

4. Amex MRCC - limit of Rs4 lakh - annual fee of Rs1500 + GST
Hardly use. Have Amex Plat Travel as well.


Please share your thoughts.

 

[sourpai]

I think it will help if you also tell us which other cards you plan to use and what are your spend types buckets.

Which cards to keep and which cards to close is all relative and depends on your overall card portfolio

 

[metal_heart]

If you are not using, then paying fee doesn't make sense. I would rather close them or get them converted to LTF.
RBL and SC one's should be easy to get converted to LTF

 

[Heyyy]

I think it will help if you also tell us which other cards you plan to use and what are your spend types buckets.

Which cards to keep and which cards to close is all relative and depends on your overall card portfolio

Use SC Ultimate and Amex Plat Travel for all offline and online usage. For utility, use Axis Airtel.
Spends - insurance, bill payments, amazon/flipkart shopping, food, grocery

 

[Heyyy]

D

If you are not using, then paying fee doesn't make sense. I would rather close them or get them converted to LTF.
RBL and SC one's should be easy to get converted to LTF

Are you sure about getting SC Smart as LTF? RBL I might close due to low credit limit too.

 

[metal_heart]

getting SC Smart as LTF?

As you have Ultimate aswell, and Smart has just 500 fee; should be easy to convert LTF.