To cancel or not

IvanDP

Hello all.
I'm after some advice as to whether it is better to keep or cancel a long standing credit card.
A couple of months ago, I switched my back up bank account from Nat West to Monzo, but I still have the Nat West credit card. (£950 limit, zero balance)
Due to the age of the card (I have had it for over 10 years), it still charges a loading fee for foreign transactions.
I now have a Tandem credit card, which along with my long standing Nationwide Select credit card gives me 2 options for fee free overseas spending.
My question is: as i have had the card for so long is it worth cancelling, or just holding onto as an extra back up should i ever need one?

Thanks

MovingForwards

Hold on to it, shows stable / aged credit history.

Nicholas

Just make sure you do a small transaction on it every couple of months or so, even if it is just a magazine or a pack of chewing gum.

littlemoney

Hold on to it as a backup for when the chip falls out of your current credit card.

IvanDP

Will it make a difference that the Tandem card with be very rarely used too?

[Deleted User]

No just don’t let them sit dormant for too long.

Can you ask NatWest if they can increase the limit on the old card or even move it to a newer product?

IvanDP

!!! wrote: »

No just don’t let them sit dormant for too long.

Can you ask NatWest if they can increase the limit on the old card or even move it to a newer product?

I did try to increase the limit, but was turned down.
Probably because the (now closed) Nat West current account was only a back up which never had much more than a couple of hundred pounds in it.
As the Tandem will also only be used as a back up (and paid off in full if used) the fee free overseas spending and small cashback bonus just seemed like better value to us.

System

NatWest (and sister RBS) now offer a card with 0% fees on overseas purchases

You could see if they would switch you to that product.

IvanDP

Thanks for your advice.

I have just spoken to Nat West via their online chat and it looks like I can indeed swap my current card for one of their fee free offerings.
If that is the case, then it looks like the Tandem will be relegated to the safe before its ever used

[Deleted User]

Do you have the Tandem cashback card?

IvanDP

!!! wrote: »

Do you have the Tandem cashback card?

I will have when it arrives, only applied last week.