I am a 25 year old working in IT, and yesterday I got a call from my bank, they were offering to upgrade my credit card, but as if write now, all my requirements are met with my old credentials, and now I am confused, should I go for it or not?
The real question is
Is upgrading a credit card worth it, even if your needs are already met with an old credit card?
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No, if all of your requirements are met with old cards, then getting a new card is just a waste of resources, and it might not be good for you for example, I have these three credit cards and I am using
them
- IDFC First Power:
I spend around ₹5,000/month on fuel.
This card gives me 5% value back on fuel, which perfectly matches the ₹50K annual spend needed for fee waiver.
-
HDFC Millenia:
I’ve had this card for years.
HDFC keeps offering me an upgrade to Regalia Gold, but I mostly use this card only for big online purchases.
I rarely hit the ₹1,000 monthly cashback cap, though I do get the ₹1,000 quarterly bonus sometimes.
I’m also thinking about getting SBI Cashback Card, which fits my online usage better. -
HDFC Tata Neu Infinity:
I use this mostly for utility payments and UPI.
It’s a great card overall and lifetime free.
I had applied for Axis Airtel Card, which would pair well, but it got rejected without reason..
So, If I know my current and upcoming expenses, and I know upgraded cards won’t give me any benefit ? Why would one upgrade ? Whats the idea of upgrade in general?
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