Query regarding cancellation of SBI Advantage Credit Card ?

POSTED BY praveen22 ON June 17, 2014 6:43 pm NO COMMENTS

Hi All,

I am Praveen. I am using the credit card from past 6 months. It is an secured credit card. It is an SBI Advantage Plus Card. For this card initially i won’t get any credit balance, but as I am paying the 2500 +GST Charge  every month till 11 months my credit balance increases.

I won’t use much unless the payment is only through credit card (Like itunes). Now after some of investments (MF+PPF)  and increase in household expenses, I am feeling this credit card is a burden to me.

I want to cancel but in the month of may i purchased of about 6000 (converted to 3 EMI) for a mobile (gift to mom).

What should i do now? whether to cancel or pay this EMI entirely and cancel.

As far as my knowledge the accumulated amount (FD) till now is 15000.

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