NatWest to no longer issue Visa Credit Cards?

Millman100

I have just received a letter from NatWest to tell me they are no longer offering Visa credit cards, and will replace mine with a Mastercard. Does anyone know why this is, I have had it for decades, and already have a Mastercard from another bank, so have no desire to lose the flexibility of having some alternative means of paying if one of the providers systems go down or is not accepted for some reason. I presume all NatWest Visa Credit card customers are getting a similar notification.

cymruchris

If you want to continue holding a Visa credit card - now might be a good time to shop around the eligibility checkers to see what options are open to you. They won't keep a handful of Visa cards running for a few customers who want to keep one of each, they'll have made a commercial agreement on better terms with Mastercard hence the swap. If you don't keep a balance on your cards - it doesn't really matter which Visa card you go for. Mastercard have been on the offensive for a while now, there'll come a time when Visa finally says 'Oh hang on a minute we haven't got any customers left' and might improve their terms to win back a few banks that have converted. But that'll be years, not months. 

EarthBoy

NatWest credit cards were originally Access/MasterCard, so they've gone back to the brand they started with.

born_again

Millman100 said:

I have just received a letter from NatWest to tell me they are no longer offering Visa credit cards, and will replace mine with a Mastercard. Does anyone know why this is, I have had it for decades, and already have a Mastercard from another bank, so have no desire to lose the flexibility of having some alternative means of paying if one of the providers systems go down or is not accepted for some reason. I presume all NatWest Visa Credit card customers are getting a similar notification.

Mastercard are chucking Millions £££ at banks to switch to them from Visa.
It is going to get hard over the next couple of years to keep a Visa & Mastercard in your wallets. As we should just in case one of their systems go down, as Visa's did a while ago and caused chaos.

notveryeducated

cymruchris said:

 Mastercard have been on the offensive for a while now, there'll come a time when Visa finally says 'Oh hang on a minute we haven't got any customers left' and might improve their terms to win back a few banks that have converted. But that'll be years, not months. 

Second this. Visa lost Santander awhile ago and now First Direct.

blue.peter

This is an interesting development. Last year, I wanted to get a new MasterCard credit card ('cos I'd dumped the one I had, for reasons not relevant here). I found plenty of Visas being offered, but comparatively few MasterCards. I got what I wanted, but felt that Visa was dominating the market. It sounds as if the tide's turning now. I wonder how far things will go before Visa gets unhappy and fights back again? It sounds like a bit of a long-term tug of war.

EarthBoy

notveryeducated said:

cymruchris said:

 Mastercard have been on the offensive for a while now, there'll come a time when Visa finally says 'Oh hang on a minute we haven't got any customers left' and might improve their terms to win back a few banks that have converted. But that'll be years, not months. 

Second this. Visa lost Santander awhile ago and now First Direct.

TSB was due to change from Visa to Mastercard debit cards a couple of years ago, but then they had their spectacular IT disaster and the plan was put on hold.  I've heard nothing from them about it since.  

molerat

Of my 6 credit cards only one is Visa and it looks like that is only because it is an old card, MBNA seem to have moved new cards over.

gt94sss2

The banks used to own Visa Europe but sold it to Visa in 2016.
As such, they have less reason to stick with Visa now and can now decide which company they want to use on more commercial terms.

born_again

gt94sss2 said:

The banks used to own Visa Europe but sold it to Visa in 2016.
As such, they have less reason to stick with Visa now and can now decide which company they want to use on more commercial terms.

In this case it's mastercard offering topaying for the change over costs. Which is a massive amount of money given systems need updating, new mastercard systems installed and tested. Then staff training.
Then adding a sweetener on top.....
We are now 9 months into the change, the above is the simple bit. Sorting out a whole new set of procedures is the real PIA. Especially when your job revolves around the card procedures. Which when the handbooks provided run to thousands of pages, Is not easy.

JGB1955

I've always tried to make sure I have at least one Mastercard and one Visa.  Currently 2 Visa and 1 Mastercard.  Just sign up with Tesco (or other provider) if you're a Mastercard short of a wallet!