Should I close HDFC Regalia CC after its recent downgrade

[RSS]

The rewards points system on Regalia CC was already bad compared the latest CCs. Now after its lounge access downgrade is it event work keeping LTF card? Will continuing it consume my overall Credit Limit offered to me? I hold this card for very long with reach history, will closing this CC affect my Credit Score? I do hold another CC with 2 -3 years credit history.

 

[arjungoyal12]

I think there is a bad affect when you close the card. But you can balance that by easily maintaining the credit utilization ratio. It might work in your favour

 

[ShavirB]

The rewards points system on Regalia CC was already bad compared the latest CCs. Now after its lounge access downgrade is it event work keeping LTF card? Will continuing it consume my overall Credit Limit offered to me? I hold this card for very long with reach history, will closing this CC affect my Credit Score? I do hold another CC with 2 -3 years credit history.

Ideally a credit history of > 5 years is recommended for a good credit score. In this case, if you're not using you card at all I would recommend you to downgrade and get a lifetime free card instead of closing it altogether