How much time to wait between credit cards?

[1p2tv]

Hey guys, new here and new to credit cards. Got my first credit card recently, the Amazon Pay ICICI Credit Card.

Apart from this, I also have my eyes on the SBI Cashback Card but I'm wondering if it's good for my credit score to get 2 cards at once.

I wanted to ask how much time should one wait to get another credit card.

 

[wcgxlr8]

Welcome! There's no set window as far as I am aware, but it's safe to apply after 6 months. The question is why do you need another card and have you decided which one to go after?

 

[1p2tv]

Welcome! There's no set window as far as I am aware, but it's safe to apply after 6 months. The question is why do you need another card and have you decided which one to go after?

I want the SBI Cashback Card as I have already stated in my original post. The reason is that 5% cashback.

 

[wcgxlr8]

Got it, my bad, overlooked it. Yes, SBI cash back card is a good one to have. Also, I'd suggest to have a card for UPI rewards (Jupiter gives 2%, Tata Neu gives 1.5% etc.). Approval would vary from bank to bank, as I said, you can try applying once, but wait for 6 months before reapplying.

 

[1p2tv]

Got it, my bad, overlooked it. Yes, SBI cash back card is a good one to have. Also, I'd suggest to have a card for UPI rewards (Jupiter gives 2%, Tata Neu gives 1.5% etc.). Approval would vary from bank to bank, as I said, you can try applying once, but wait for 6 months before reapplying.

I already got that Amazon Pay ICICI Credit Card last week. Should I try applying for SBI Cashback Card too or wait for 6 months? My CIBIL score is still high and will update after about 10 days from today to reflect the ICICI card.

 

[wcgxlr8]

You can apply for the SBI card now, but don't apply for more than 3 cards now. Some banks offer you an option to view eligible cards, this won't reflect as a hard enquiry in your CIBIL report and hence its safe to check them once.

 

[1p2tv]

You can apply for the SBI card now, but don't apply for more than 3 cards now. Some banks offer you an option to view eligible cards, this won't reflect as a hard enquiry in your CIBIL report and hence its safe to check them once.

Does SBI do a hard enquiry in your CIBIL report?

Can you state some banks that don't? Although I won't be applying, it would be good to know.

 

[Gajendrakumar]

Hey guys, new here and new to credit cards. Got my first credit card recently, the Amazon Pay ICICI Credit Card.

Apart from this, I also have my eyes on the SBI Cashback Card but I'm wondering if it's good for my credit score to get 2 cards at once.

I wanted to ask how much time should one wait to get another credit card.

It will affect your credit score still if you apply more than 2 card. If not The credit card issuer assume your were under debt trap. They will pull down your credit score.

Even though it will back to normal after every fully repayment of your card. Don't feel about Score.

 

[1p2tv]

It will affect your credit score still if you apply more than 2 card. If not The credit card issuer assume your were under debt trap. They will pull down your credit score.

Even though it will back to normal after every fully repayment of your card. Don't feel about Score.

Sorry but I do not understand what you are trying to say.

 

[hitirfan]

Does SBI do a hard enquiry in your CIBIL report?

Can you state some banks that don't? Although I won't be applying, it would be good to know.

I guess all bank check credit score while applying for credit card

 

[ankushv08]

Got it, my bad, overlooked it. Yes, SBI cash back card is a good one to have. Also, I'd suggest to have a card for UPI rewards (Jupiter gives 2%, Tata Neu gives 1.5% etc.). Approval would vary from bank to bank, as I said, you can try applying once, but wait for 6 months before reapplying.

But from 1st August Tata New Plus will be 0.5% and Tata New Infinity will be 1%

 

[wcgxlr8]

Yes, all banks will do a hard enquiry if you apply for a credit card. However, if you have pre-approved cards, they would come as soft enquiry unless you proceed with the application. I was referring to some portals like bank bazaar (not endorsing) which do a soft check and show you approval probabilities for different cards. I believe HDFC Xpressway is one where you can see pre-approved products for you which doesn't impact your credit score (unless you apply).

 

[ankushv08]

Can anyone suggest me , which card will be better ? Tata neu plus or hdfc bank freedom

 

[hitirfan]

Can anyone suggest me , which card will be better ? Tata neu plus or hdfc bank freedom

Freedom ka sab bol rahe hain bakwas card hai

 

[ankushv08]

Then should i go for tata neu plus??

 

[hitirfan]

Then should i go for tata neu plus??

Check the benefits, if it will be beneficial for you then apply for that.

 

[1p2tv]

Yes, all banks will do a hard enquiry if you apply for a credit card. However, if you have pre-approved cards, they would come as soft enquiry unless you proceed with the application. I was referring to some portals like bank bazaar (not endorsing) which do a soft check and show you approval probabilities for different cards. I believe HDFC Xpressway is one where you can see pre-approved products for you which doesn't impact your credit score (unless you apply).

It seems to be giving only general product recommendations like personal loan, savings account, credit card, etc. Upon clicking the Credit Card Application button, it opens a new page and there is a check mark at the bottom which says that I give consent to HDFC to access my credit score.

 

[hitirfan]

It seems to be giving only general product recommendations like personal loan, savings account, credit card, etc. Upon clicking the Credit Card Application button, it opens a new page and there is a check mark at the bottom which says that I give consent to HDFC to access my credit score.

Yeah after CIBIL check you will see the cards you can apply for...

 

[Skylar]

Hey guys, new here and new to credit cards. Got my first credit card recently, the Amazon Pay ICICI Credit Card.

Apart from this, I also have my eyes on the SBI Cashback Card but I'm wondering if it's good for my credit score to get 2 cards at once.

I wanted to ask how much time should one wait to get another credit card.

The cooling-down period applies if you are applying for a card within the same bank. However, you can apply for cards from other banks.
I recommend considering an SBI card sooner, especially if you plan to have more cards in the future. If your total credit limit across all cards exceeds your annual income, SBI or most PSU banks may reject your application.

Regarding the CIBIL Score:
- Each hard inquiry -1 point
- New credit account -1 point.
However, consistently paying bills on time can help offset these deductions.

My CIBIL score now 792, Check out the how many cards I opened from October.

 

[wcgxlr8]

The cooling-down period applies if you are applying for a card within the same bank. However, you can apply for cards from other banks.
I recommend considering an SBI card sooner, especially if you plan to have more cards in the future. If your total credit limit across all cards exceeds your annual income, SBI or most PSU banks may reject your application.

Regarding the CIBIL Score:
- Each hard inquiry -1 point
- New credit account -1 point.
However, consistently paying bills on time can help offset these deductions.

My CIBIL score now 792, Check out the how many cards I opened from October.

View attachment 1156

Nice way to track