Closing an account but keep Credit Card

nemoh88

Hi guys, so I have two questions really.
I'm thinking of going Full Monzo soon as I really like the app for budgeting etc and just don't use my other Nationwide Current Account anymore except for a few bills and my salary. I was just wondering if I make the switch and close my NW Current account if my NW Credit Card will stay open? I'm 99.9% sure from what I've read that it will but I wanted to check. Also I'm planning to move in about 6-12 months time and I'm assuming switching bank accounts now won't affect my mortgage application (especially if I print off my most recent NW statements before I leave?)

Thanks guys! 

whitesmith

I would check with Nationwide as I think if (for example) you have a Member's or (no longer available) Select credit card they are dependent on your having a current account with them.

nemoh88

ah thank you

jonesMUFCforever

I would also keep a bricks and mortar account open.
Digital banks just don't have the back office capacity when things go wrong.

eskbanker

If 'going Full Monzo' literally signifies an intention to use them and only them, you might wish to consider keeping your options open by retaining your Nationwide account rather than closing it - it's generally a good idea to have access to funds in more than one bank to offer resilience against technical outages, card loss/theft, accounts being frozen/closed, etc.  In the context of how you present to potential lenders, the continuity from longstanding accounts can also be advantageous....

nemoh88

eskbanker said:

If 'going Full Monzo' literally signifies an intention to use them and only them, you might wish to consider keeping your options open by retaining your Nationwide account rather than closing it - it's generally a good idea to have access to funds in more than one bank to offer resilience against technical outages, card loss/theft, accounts being frozen/closed, etc.  In the context of how you present to potential lenders, the continuity from longstanding accounts can also be advantageous....

Well they switch it all for you view the Current Account Switch Service which automatically transfers your DD, standing orders and salary. I think you're right though. Maybe I should just move it all over myself.

whitesmith

I would move it myself, keep the Nationwide open for a while.

colsten

Assuming it's the Nationwide Select credit card you have:


https://www.nationwide.co.uk/-/media/MainSite/documents/products/credit-cards/P1911 Jul 13.pdf

Their definition of a main current account is:

[Deleted User]

colsten said:

Assuming it's the Nationwide Select credit card you have:


https://www.nationwide.co.uk/-/media/MainSite/documents/products/credit-cards/P1911 Jul 13.pdf

Their definition of a main current account is:

Isn't that just for the cashback element - which is being withdrawn later this year for those who get it - rather than the card as a existing cardholder?