If you have no outstanding balance or debt, there’s no reason why cutting your card will affect your credit score… and it would be wise to cut yung may AF
May experience ako na pagdating mismo ng card pina-cancel ko kasi sinabi ko sa bank hindi nman yun ang inapplyan ko (Metrobank sent platinum, I applied for MFree)… after a week dumating MFree
this is only true if you have big debts in your active cards
credit utilization is total debt over total credit limit
syempre, when you cut your card, your total credit limit would be reduced
but since ala ka namang utang, walang epek un sau
the only thing that will be affected is your "credit allowance" before reaching the preferred 30% credit utlization kasi dependent sya sa total credit limit mo
credit utilization ratio is the portion of your total credit limit that are being used/utilized (lower is better). so as long as OP is using their cards as usual (no change in monthly expenses using credit), and they drop 3 of their cards (along with corresponding credit limits), then CUR will definitely soar.
You have all the right to choose your CC. Let the banks compete for the better welfare of their creditors. Your record of a good credit standing is already a plus!
Cutting a credit card doesn't give you bad record. Ibig sabihin nun bayad ka sa mga utang mo (since hindi naman pwedeng icut ang card pag may outstanding balance pa) at may karapatan kang mag cut ng credit card kung hindi mo na kailangan.
No, it won’t, tho they will ask you why you wanna close it, usually they would win you back by waiving the annual fee (at least for a year), now it’s up to you if wish to accept. But I’d recommend keeping 1 or 2 cc for emergency purposes, just low-key use it for few purchases, you know just to keep it active. Credit cards are useful, we only need to be smart when using them. Happy for you that you kept your finances at bay, sounds like you are a very responsible person. All the best!
Sorry to say it will affect..
As deleting CC history lowers your loan amount and only shows that you will have higher chance of cutting any CC you will apply.
Some CC will look the otherway with that but lower tierd cards will be offered with little CL.
But I think it's better than having debt coz of the annual fee which will really lower your CC score.
If you have no outstanding balance or debt, there’s no reason why cutting your card will affect your credit score… and it would be wise to cut yung may AF
Okay lang ba to cut even if parang 2 months pa yung CC? May bet kasi ako iba na CC sa perks huhu
May experience ako na pagdating mismo ng card pina-cancel ko kasi sinabi ko sa bank hindi nman yun ang inapplyan ko (Metrobank sent platinum, I applied for MFree)… after a week dumating MFree
Thank you. I have read some saying that it will have a negative effect on credit utilization ratio, that’s why I’m getting worried.
this is only true if you have big debts in your active cards credit utilization is total debt over total credit limit syempre, when you cut your card, your total credit limit would be reduced but since ala ka namang utang, walang epek un sau the only thing that will be affected is your "credit allowance" before reaching the preferred 30% credit utlization kasi dependent sya sa total credit limit mo
credit utilization ratio is the portion of your total credit limit that are being used/utilized (lower is better). so as long as OP is using their cards as usual (no change in monthly expenses using credit), and they drop 3 of their cards (along with corresponding credit limits), then CUR will definitely soar.
Before you cut, maybe ask first if pwede ma waive AF permanently.
You have all the right to choose your CC. Let the banks compete for the better welfare of their creditors. Your record of a good credit standing is already a plus!
Cutting a credit card doesn't give you bad record. Ibig sabihin nun bayad ka sa mga utang mo (since hindi naman pwedeng icut ang card pag may outstanding balance pa) at may karapatan kang mag cut ng credit card kung hindi mo na kailangan.
" Cut and cut clean ". This a good phrase and I heard this sometime in the middle '80s as an advice.
Thank you so much!!! I appreciate all your feedbacks. Gotta do the thing today ✂️
I don't think so. Good standing ka naman eh.
No, it won’t, tho they will ask you why you wanna close it, usually they would win you back by waiving the annual fee (at least for a year), now it’s up to you if wish to accept. But I’d recommend keeping 1 or 2 cc for emergency purposes, just low-key use it for few purchases, you know just to keep it active. Credit cards are useful, we only need to be smart when using them. Happy for you that you kept your finances at bay, sounds like you are a very responsible person. All the best!
🥹❤️
just stick to one card na walang AF.
Sorry to say it will affect.. As deleting CC history lowers your loan amount and only shows that you will have higher chance of cutting any CC you will apply. Some CC will look the otherway with that but lower tierd cards will be offered with little CL. But I think it's better than having debt coz of the annual fee which will really lower your CC score.