Close old credit card?

tryin

Hi all,

I have an old NatWest credit card open from a previous 0% balance transfer offer. That offer has long finished, is it better to close it in order to qualify for potential future 'new customer' offers? Or will I likely get the same offers as an existing card holder?

Altior

It varies by account but I received appealing deals on an existing NatWest CC. Last one I used was 2.9% fee 21 months. It's not one that I would ditch.

webmasterpolo

In my experience I've always found it better to close old ones and then re-qualify as a new customer in future as new deals generally much better than existing deals, unless there is something special about this card, like a high limit or something.

Nasqueron

NatWest offer a 36 month card with 3.1% fee or 23 month with 3.49% fee to new customers

I get the same offer as Altior - 21 months, 2.9% fee but my limit isn't great so I have no real use for the card except that it's in the YouGov finance bribe so I don't want to shut it!

Altior

It's always a balance and there are no definitive answers. However, applying for a new card creates a hard search and I minimise them.

I got up to 3x of salary and no shortage of new offers on existing deals. If they dry up them I will look to closing some redundant accounts.

kempiejon

I have said recently that I rarely close cards, I have a dozen ish cards and a combined credit limit several multiples of my annual salary, I have no problems getting repeats and collected a few new offers a year odd back. I can't see there's a hard rule for my situation but usually, for me, newer cards come with lower limits than I can accumulate with decades of holding. A new, fee-free 12 monther with a £2000 credit limit will make me less profit than 21 months 2.9 fee with a £20k limit