Better Resolution for my Credit Cards | Paid to LTF

[talk2rik]

I'm pleased that my SBI Cashback Card Application has just been approved with a sweet limit. I've been using the HDFC MoneyBack+ Card, its UPI Virtual Card, and Tata NeuCard Plus Card as paid cards. But, as I have to pay a major amount as a joining and annual charge to the SBI Cashback Card, I want to close the HDFC MoneyBack+ Card & UPI Virtual Card.

Is it a good decision to close the mentioned cards? Or, can I just downgrade it to another HDFC Bank LTF card?

 

[Anindya98]

Close it downgrading will not be worth it as you have TATA Neu Plus

 

[Neeraj920]

I'm pleased that my SBI Cashback Card Application has just been approved with a sweet limit. I've been using the HDFC MoneyBack+ Card, its UPI Virtual Card, and Tata NeuCard Plus Card as paid cards. But, as I have to pay a major amount as a joining and annual charge to the SBI Cashback Card, I want to close the HDFC MoneyBack+ Card & UPI Virtual Card.

Is it a good decision to close the mentioned cards? Or, can I just downgrade it to another HDFC Bank LTF card?

Hi if this is your oldest card then I would suggest to continue as this will show your credit history in CIBIL score. If you got this card recently then you can close it. Also you check your convenience of paying the annual charges, as if you do not use a single time in a year, you can close it.

 

[Skylar]

I'm pleased that my SBI Cashback Card Application has just been approved with a sweet limit. I've been using the HDFC MoneyBack+ Card, its UPI Virtual Card, and Tata NeuCard Plus Card as paid cards. But, as I have to pay a major amount as a joining and annual charge to the SBI Cashback Card, I want to close the HDFC MoneyBack+ Card & UPI Virtual Card.

Is it a good decision to close the mentioned cards? Or, can I just downgrade it to another HDFC Bank LTF card?

If you close - Money back +
it will tough to get HDFC core card in future as you'll end up with Tata neu card.
- Just 50K spend to get fee waved off, see if you could use that card during sale for 10% instant discounts.
- I recommed you mail to HDFC CS and ask them to make it Life Time free, tell them you having multpile cards and all are paid and its frustrating to pay fees for cards that give very little return.

Close that UPI Virtual card as you have Tata Neu+ for UPI transactions.

 

[Skylar]

Hi if this is your oldest card then I would suggest to continue as this will show your credit history in CIBIL score. If you got this card recently then you can close it. Also you check your convenience of paying the annual charges, as if you do not use a single time in a year, you can close it.

Closing your oldest card won't effect your CIBIL score. It could effect score in other credit bureaus
- Even if you close your card, your card will be shown in the reports and it will listed. I closed 3 of my old cards and they still listed under closed cards section and my Credit Histroy is shown with date of oldest card I closed.

 

[Bantu]

You can close Money back+ card and continue with virtual and Tata Neu+ card. As virtual card annual fee is very less and can be waved off with Rs 25000 spending annually and keeping this card will benefit you during big billion sale. You can close tata neu+ also as this card has been devalued Cashback on upi is only 0.25%. For UPI payment keep virtual hdfc card and for other spends SBI cashback card