When to cancel new credit card?

[dushy3]

I had recently applied for IDFC Select Credit Card simply to have a card with which I could apply for another specific credit card via C2C. I have no use for the devalued IDFC credit card and plan to eventually discontinue it. I received the IDFC credit card in August 2022. Which is the earliest month it would be advisable to shut IDFC Credit card?

 

[ltf4ever]

why shut an approved, ltf card? you can use it for roadside assistance and airport lounges (16 per year, which is the highest among all cards, just below the ones with unlimited access.). also there are some offers for flat discount on ecommerce websites. that's the strategy i am using myself: rbl zomato is absolutely of no use after 20th september due to huge devaluation, but i have saved a lot because of rbl offers on eazydiner and other apps.

I had recently applied for IDFC Select Credit Card simply to have a card with which I could apply for another specific credit card via C2C. I have no use for the devalued IDFC credit card and plan to eventually discontinue it. I received the IDFC credit card in August. Which is the earliest month it would be advisable to shut IDFC Credit card?

 

[dushy3]

I don't travel that much so lounges does not make me much of a difference. Would like to shut it so it's one less thing to bother about.

 

[Gautham]

I don't travel that much so lounges does not make me much of a difference. Would like to shut it so it's one less thing to bother about.

Dont ever close LTF cards. Idfc used to run awesome spend based offers till like March. I have accumulated 18000 points with that. You never know when u need them.

 

[PavvanPavvan is verified member.]

Dont ever close LTF cards. Idfc used to run awesome spend based offers till like March. I have accumulated 18000 points with that. You never know when u need them.

I agree with you

 

[Bob78900]

I had recently applied for IDFC Select Credit Card simply to have a card with which I could apply for another specific credit card via C2C. I have no use for the devalued IDFC credit card and plan to eventually discontinue it. I received the IDFC credit card in August 2022. Which is the earliest month it would be advisable to shut IDFC Credit card?

Don't close your ltf card bro. Just use it sometimes for recharge bill payments etc. So your card doesn't get cancelled

 

[dushy3]

Thank you to everybody for your replies and help!

 

[vaibhav111vaibhav111 is verified member.]

Yeah i agree with everyone else this is only bank that Provide road side assistance and lounge benefit and it LTF so keep it for a year atleast

 

[vaibhav111vaibhav111 is verified member.]

- Spend 15000Rs. get 500Rs. voucher = 3.33%
- PayTM Buy 1 Get 1 = 50% (for most INOX and supported theatres).
- Road Side Assistance = worth 1400 (Useful for Car Owners).
- Withdraw 10% of Credit Limit for 250Rs. = Useful for emergency time (without additional interest), less amount but useful in due time.

You already took enquiry in Cibil, use for some and try to utilize above offers. Still not satisfied, then cancel it whenever you feel it.

Yes in the beginning even i spend 15k and got 500 rs voucher for select idfc card