Old credit card hack #creditcard #finance

Old credit card hack #creditcard #finance



Do you have a credit card that you don’t actually need?

Maybe you got a better card or
you got a card with high annual fees and realised that the cost doesn’t justify the benefit!

Well then DON’T CANCEL THEM!!

Downgrade them to reduce your expenses!!!

But why should you downgrade it instead of canceling?

Closing a credit card account can reduce the age of your credit history and cause your credit limit to reduce, leading to an increase in your credit utilization ratio on other cards.

These are both factors that impact your credit score — your length of credit history accounts for 15% of your score, while your credit utilization accounts for 30%.

But downgrading a card doesn’t cause any of these disturbances!!!

So, if you have devalued cards or not-so-frequently used cards, downgrade them if you don’t want to lose the credit history you have built!

View Comments (39)
  1. हर कार्ड डाउनग्रेड नहीं होता, कुछ सबसे बेसिक कार्ड्स भी 500 से 1000 रुपए चार्जेस लेते हैं

  2. Hi Anushka. Thanks for the informative content.

    I have one two doubts.
    First, the hdfc people doesn't report credit limit to cibil so cibil score goes down. In this case, if my card is less than 2 years old, can i close the card- and will it affect the credit score or not.
    Bdw its doesn't have any annual fees, if not can we just atop usong it or what to do.

    Thanks in advance

  3. Sawal ye hai local train waali airport pai kya kar rahi thi…😂😅🤣🤣😅😅😅🤣🤣😅😅😂😂😂😅😅😅

  4. @anushka ek suggestion hai thoda slow bola Karo.. aur jab 2 characters ka role play kr rhe ho toh ek character se dusre character switch m thoda sa gap lo…

  5. Hello I have aprox 18 credit card but they are different from different name and different number for eg my and my mother. There is any app to manage all credit with an app except cred

  6. Credit history kab se delete hone lagi……….
    Bhai ye india ki hi h na……..ya koi or desh mn pahuch gayi ye ladki…..
    Bc konsa credit card aa gaya jo credit history pe impact ni dalega………

    Dewa re dewa………uthale……uthale Bhai uthale

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