Discussion General discussions and updates on Credit cards

[Advik]

Update:

Applied on 24th. Got approved on 31st.
Virtual card is now available on Kotak app.

And guess what?
It's RUPAY.

Not sure what happened, but I am not complaining.

What special in Rupay

 

[Prithi Deb]

What special in Rupay

UPI and lots of offers running nowadays to promote Rupay.

 

[Endgame]

My credit utilization ratio for this month is approx 90%. If My bill generate and Pay this amount within due date how much it will affect My CIBIL score as credit utilization is very high.

Or If I pay almost 70% before bill generation and rest of 20% after bill generation(within due date) how much It will affect my CIBIL?

CIBIL have no relation with your card statement date or due date.
If you go through your CIBIL report, you can find 'Reporting date' by Banks which is typically month end date.
So it's a no-brainer to keep low utilization ratio 2-3 days prior to month end.
Note: Some banks report your statement balance at month end. If your statement date is 20th, you may find your due amount reported by bank in CIBIL.

 

[kumarvishwas]

So I have added a new card today to my cards portfolio and this is my 7th active credit card and the card is Yes Bank Marquee.

I had applied the card last to last week and the card was received today.

The only reason I got this card was the Bookmyshow BOGO offer(as Axis Magnus offer stopped last month).

The fees for the card is 9999+GST but is easily recoverable atleast till now by buying Swiggy/Zomato vouchers for which the value comes out to be 15K with the joining points(might get reduced in the next 2 months when I’ll be in a position to redeem them) and from what I have heard is the joining fees points would be credited after 2nd months statement after the card fees in paid in 1st month’s statement

The limit provided is 3 Lacs which is really less compared to my all other cards except SBI but anyways doesn’t matter much as this card would be hardly used for some particular benefits only.

So have the below cards portfolio

1. Flipkart Axis(continue it as it is LTF)
2. Amazon Pay ICICI(continue it as it is LTF)
3. HDFC Infinia(my go to card for everything)
4. Axis Magnus(mistakenly renewed it this year and it got devalued heavily the very next month, probably a very bad investment considering renewal fees of 12999+taxes, will close it next year before renewal)
5. SBI Simplyclick(a handy card in case of instant discounts)
6. IDFC First Wealth(continue it as it is LTF)
7. Yes Marquee

Also eyeing for an Amex card as well in upcoming days but yeah need to research further on that considering my spendings and use cases

 

[Optimus_Prime]

In which way Credit card Limit can be increased. Does it happened automatically ? Is this solely depend on spending amount ?

 

[kumarvishwas]

In which way Credit card Limit can be increased. Does it happened automatically ? Is this solely depend on spending amount ?

Automatically is much better but you can also send in your salary slips to the bank on mail and ask them to increase your limit after owning the card for about 3-6 months

 

[Endgame]

Recently crossed the 100 mark for all my active credit cards (add-on included but excluding same numbered add-on cards), the current number is 102.
Amex - 4
Axis - 8
BoB - 38
Citi - 1
HDFC - 7
ICICI - 12
IDFC - 4
Indusind - 4
Kotak - 2
SBI - 20
Yes - 2