Will my credit score be affected?

[abhitm992]

I have a Flipkart axis bank credit card since 2021 September and not widely using it. Recently because of the continuous calls from credit cards of Bajaj Finserv, I applied for Bajaj Finserv RBL Supercard and per-approved card from HDFC millennia card. But as I was not aware or not having knowledge how to use credit card in a proper way to get cashback and rewards I never used it. After non-usage of both cards in 30 days, that both cards got closed. Now I tried to reactivate it but they are saying it is closed, you have to apply freshly for new credit card.
First. Will the closure of credit cards without usage affect my credit score?
Second. I want to take credit cards for broadband, utility payments, online payments using Zepto, Swiggy, Zomato and some times Amazon or Flipkart, fuel expenses, UPI payments and want to travel once in two-three months for vacations. But as Flipkart axis card spend limit to waiver the annual premium is 3.5L, I’m little confused what to do and which card to take or whether to take or not. Closing is not best option as this card is the old card for me.
I have gold loan of 2.5L and Bajaj Finserv flexi personal loan of 3L outstanding also in my name.

 

[TaxWiser]

Will the closure of credit cards without usage affect my credit score?

Yupp but for short-term, within 3-9 months it gets normal if you pay your CC bill & Loan EMI on time, maintain credit utilization <30% & don't apply for any new Credit or Loan.

Second. I want to take credit cards for broadband, utility payments, online payments using Zepto, Swiggy, Zomato and some times Amazon or Flipkart, fuel expenses, UPI payments and want to travel once in two-three months for vacations. But as Flipkart axis card spend limit to waiver the annual premium is 3.5L, I’m little confused what to do and which card to take or whether to take or not. Closing is not best option as this card is the old card for me.
I have gold loan of 2.5L and Bajaj Finserv flexi personal loan of 3L outstanding also in my name.

Considering your spends, you should consider Amazon Pay ICICI CC, Swiggy HDFC CC, Airtel Axis CC, Axis Atlas CC, Tata Neu CC(only if you use Tata products) & SBI Cashback CC.

Currently HDFC is Offering Swiggy & Tata Neu CC Lifetime Free, you should try to apply for it in your family members name since you recently closed a HDFC CC, chances of you getting this LTF CC is almost Zero.
Thread 'HDFC Lifetime Free (LTF) Credit Cards' https://bekifaayati.co/threads/hdfc-lifetime-free-ltf-credit-cards.6822/

 

[abhitm992]

My credit score now is 773 in CIBIL which is showing as good.
There are so many other loans active in the credit history which I don’t know what is it. Few are there of Flipkart pay later, other one is Simpl, but I don’t know in which app those loans are active. How to know that? And all those loans are fully paid. No outstanding. So how many years it takes it to close automatically if I didn’t get from where those loans are?
(I have more than 2 delay payments in my credit history within last 7 years in which last delayed payment occurred in 2021. I have to wait till 2027 to get an excellent score by removing all the delay payments in last 7 years from 2027.)

 

[abhitm992]

My wife has Amazonpay icici card and I have Flipkart axis. So all those credit cards are required to apply?
After how many months each credit card i should apply?

Another doubt is 30% of credit limit is for each credit card or overall credit limit including my loans?
If loans included, I have Bajaj personal loan of 5L but outstanding is 3L and Gold loan was 3L and outstanding is 2.5L so these are more than 30% of those amounts. In this case will it be good to apply for another credit card?

My wife is afraid of taking credit cards in her name but her CIBIL score is higher than mine. I need to check exactly how much.
I checked credit score prediction in google pay where it shows if I take a credit card or home loan of 3lakhs and above, my credit score will increase. How is that possible if this many credits are in my name?

 

[abhitm992]

Currently HDFC is Offering Swiggy & Tata Neu CC Lifetime Free, you should try to apply for it in your family members name since you recently closed a HDFC CC, chances of you getting this LTF CC is almost Zero.

These are not exactly LTF card, right? There is annual spend required to waiver the annual fees.
So how long I should wait to take a credit card in my name? (Those RBL and HDFC cards are closed within last 6 months.)

 

[TaxWiser]

My credit score now is 773 in CIBIL which is showing as good.
There are so many other loans active in the credit history which I don’t know what is it. Few are there of Flipkart pay later, other one is Simpl, but I don’t know in which app those loans are active. How to know that?

If you see loans from Flipkart Pay Later or Simpl on your credit report but are unsure which app they are associated with, you can contact these services directly for clarification. Check any emails, SMS notifications, or app notifications from these services. They often send reminders or statements that can help you identify the source of the loans. You can also check your Playstore app download history to find how many loan or pay later apps you have installed in the past.

And all those loans are fully paid. No outstanding. So how many years it takes it to close automatically if I didn’t get from where those loans are?
(I have more than 2 delay payments in my credit history within last 7 years in which last delayed payment occurred in 2021. I have to wait till 2027 to get an excellent score by removing all the delay payments in last 7 years from 2027.)

It will never get automatically closed until you asked the creditors to close it permanently and get NOC. Watch some YT video on how to close Pay Later accounts permanently and getting NOC.

My wife has Amazonpay icici card and I have Flipkart axis. So all those credit cards are required to apply?

Every cards has its own unique benefits, you should first evaluate your expenses and try to figure out which credit cards will benefit you the most and apply for those CCs only.

After how many months each credit card i should apply?

Ideally 3-6 months for same bank CCs but you can apply for different bank CCs every month resulting in minor or nil impact on CIBIL score.

Another doubt is 30% of credit limit is for each credit card or overall credit limit including my loans?

Overall Credit Limit

If loans included, I have Bajaj personal loan of 5L but outstanding is 3L and Gold loan was 3L and outstanding is 2.5L so these are more than 30% of those amounts. In this case will it be good to apply for another credit card?

Absolutely Not

My wife is afraid of taking credit cards in her name but her CIBIL score is higher than mine. I need to check exactly how much.

Upon rejection of CC application it will have minor impact on CIBIL score and upon approval of CC application it increases Credit score most of the time as new card help in improving credit utilization by adding extra credit limit in your credit report. So, their's Nothing to worry about.

I checked credit score prediction in google pay where it shows if I take a credit card or home loan of 3lakhs and above, my credit score will increase. How is that possible if this many credits are in my name?

Just mentioned before by impacting your credit utilization by adding extra credit limit in your credit report. Also home loan is secured loan and taking secured CC or loan & paying it bill/EMI on time will result in adding positive remarks in your credit report.

These are not exactly LTF card, right? There is annual spend required to waiver the annual fees.

This are exactly LTF CC available for a Limited Time Period, read the thread mentioned before carefully.

So how long I should wait to take a credit card in my name? (Those RBL and HDFC cards are closed within last 6 months.)

If it's more than 6 months you can try to apply for this HDFC LTF CCs but most probably it will get rejected because Why they will offer their best LTF CC to a person who had not so good previous relationship with them. My personal recommendation will be the same i.e. to apply in your family member's name thus increasing overall chances of getting a Good LTF CC.

Best of Luck