Change SBI Card Type...

Deep Saha

4G LTE GeeK
[OP]
Regulars
Jul 28, 2011
439
61
Kolkata
I had applied for AirIndia SBI Platinum thinking that rewards points can be used in any shopping like big bazaar etc but after its approved, I got to know that it's not the case... so now I want to switch to another card... i.e if possible fbb SBI Card... so is it possible to do that ?

please help... also canceling the card after its approved will damage my credit score?

what if I cancel the card now or after using it for 6months and re-apply with fbb card after 6months will it damage my cibil score ?? ...

please help me with this...
 

Sushubh

Administrator
Oct 29, 2004
420,556
13,129
Gurugram
probably not the best person to advice about credit cards...

if there is no fees, you can keep this card and apply for a new one?
even if there is fees, you can keep this card till you can get a new one?
 

Deep Saha

4G LTE GeeK
[OP]
Regulars
Jul 28, 2011
439
61
Kolkata
@Sushubh Actually card is not free it cost Rs1500 and I want to downgrade it.. and I can cancel the card request which will result in 6months of NO APPLY ZONE .. i.e I cannot apply for a new card before 6months , and If I receive it now and apply for a new one after 6months then wont it affect my cibil score ? I think cancelling cards affects cibil score
 


mhsabir

Xclusive
Regulars
Oct 7, 2006
19,739
2,587
Chennai
Right.. If there is no fees, no harm in keeping the card for a while.. As cancelling may hamper the new card application as you are also planning to get another SBI card itself.
 

mhsabir

Xclusive
Regulars
Oct 7, 2006
19,739
2,587
Chennai
Cancelling card affects CIBIL score. But how is your overall status? If its pretty good - I am not sure if we need to go so gaga over credit score.
 


Sushubh

Administrator
Oct 29, 2004
420,556
13,129
Gurugram
Keep the card for a year. After a few months, talk to the customer care and ask for a secondary card. Based on your usage and payment history, they should easily offer you a lower end card I am guessing. And then cancel this card at a later stage.

I have a funny story with Standard Chartered. I applied for a lower end Titanium Card. Later on they themselves gave me a Preferred Card as an add-on (common limit). These days I just use the Preferred Card.
 

mhsabir

Xclusive
Regulars
Oct 7, 2006
19,739
2,587
Chennai
SBI Platinum annual fee is listed as 3000 on their website. Personally, seems pretty steep.
 

Sushubh

Administrator
Oct 29, 2004
420,556
13,129
Gurugram
if this is your first card... i am guessing, just use it as a learning experience. use it as much as possible as you are paying a pretty high fee for it. gather as many loyalty points as you can get and try to cover up the fees you are paying for it. i use my card for even low cost purchases at retail outlets that do not mind.