old credit card

rose11

I had a credit card with TSB but got one with the co op last year. I was sent a new card from TSB but haven't used it, but of course I'm using co op now, I never thought but does it matter if I didn't cancel the TSB one? I don't get charged anything do I?

thriftymomma

If the account has a fee you will get charged whether or not you use it - check your t and c's.

Christopherj_2

Having two credit cards would affect your credit rating, wouldn't it?

benf90

I have a Lloyds TSB credit card. On their website it states:

"our Airmiles Duo Cards, Platinum MasterCard, Advance MasterCard and Student MasterCard are all fee free. If you are applying for an Airmiles Duo Premier account and do not hold a Premier current account, you will be charged an annual fee of £50."

However, last year Lloyds TSB did introduce a £35 annual fee for 50,000 customers it believed didn't use their cards enough. See here:

http://news.bbc.co.uk/1/hi/business/6389073.stm

and here:

http://news.bbc.co.uk/1/hi/business/6389073.stm

It's probably worth checking with Lloyds TSB if your account is subject to the annual fee.

For general information on whether you should cancel old unused cards then take a look at the guide that's on this site. It can be found here:

http://www.moneysavingexpert.com/cards/cancel-unused-cards

Also, if you're paying off your card in full every month then why not get a cash back card?

I don't know about the Co-op cards in any great detail; having looked on their site they do offer a cash back card, but it doesn't give as much as others do.