Changing credit cards

Berties

Banned
Have a RBS credit card (Mint, mastercard) just wondering is there any benefit changing to another credit card?

I never have too much on it, and whenever I do always pay it off every month, of it was a purchase that I did not have money for, would have enough cash to pay of say 90%. So lower interest isn't really a major factor in choosing another card.
 

FZR400RRSP

Banned
Have a RBS credit card (Mint, mastercard) just wondering is there any benefit changing to another credit card?

I never have too much on it, and whenever I do always pay it off every month, of it was a purchase that I did not have money for, would have enough cash to pay of say 90%. So lower interest isn't really a major factor in choosing another card.

If you're paying it off quickly, probably little financial point in changing.
But you should maybe consider a card that gives rewards.
Cashback on purchases, airmiles, nectar points etc.etc.
 

qwerty321

Member
As mentioned, try and go for a cashback one if you aren't worried about interest free periods and the like.

I use a Play.com one for all my spending and pay it off each month. £1 spent gets you a point and get 1000 points for a £10 Play.com voucher. My Dad has one as well and thanks to all the vouchers, I just got the new Assassins Creed game for £2!

I don't spend just to get the vouchers but its a nice bonus.
 

Mr.D

Distinguished Member
I have an mbna rewards card as my main card . Clear this every month and usually have about £100 worth of M&S vouchers at christmas .

I have a Visa and Amex card on this account.

I also have a goldfish card which is my backup card. This is a mastercard. So I'm pretty much covered anywhere I go.

The MBNA card has never given me any problems. The Goldfish regularly messes me about ( security checks) so I rarely use it.

I like to feel that in emergencies if push came to shove I could charter a plane or buy a car and get my ass out of town with the plastic.

However not once in 16 years of having a credit card have I ever used it for credit. Its always payed off every month ; whether its £100 or £10000.
 

qwerty321

Member
The Play.com one is backed by MBNA and in over a year of using it no issues here as well. Its a Visa card and the new ones are contactless enabled as well.
 

Ian J

Banned
Have a RBS credit card (Mint, mastercard) just wondering is there any benefit changing to another credit card?

Not unless you want extra benefits as some of the others have suggested. You have built up a good payments record with your RBS card which will hold you in good stead if you want to borrow money or arrange another kind of loan in the future
 

Courtjezter

Distinguished Member
Not unless you want extra benefits as some of the others have suggested. You have built up a good payments record with your RBS card which will hold you in good stead if you want to borrow money or arrange another kind of loan in the future

Not according to Martin Lewis, i'm afraid.

I would check out the Money saving expert site, for the top credit cards on rewards and cashback though. They seem to have their finger on the pulse.
 

Ian J

Banned
Not according to Martin Lewis, i'm afraid.

I think that you have missread what he said. Credit card companies may not be too keen on taking on someone who pays off his account in full each month as there's not enough profit in it for them but other types of lender will be more interested in payment history.

As a matter of interest I applied for a Sainsbury Gold Card (I wanted the travel insurance) and was rejected. I guess that it had something to do with the fact that I already had a Sainsbury vanilla card on which I spent up to £1,000 every month and paid off in full each time. I have had a faultless payment history with this card for several years but if I pay the balance off each month there isn't enough profit in it for Sainsbury as they want borrowers
 

rousetafarian

Moderator
Amex have given me diddly squat since 2001........meh
 

Courtjezter

Distinguished Member
I think that you have missread what he said. Credit card companies may not be too keen on taking on someone who pays off his account in full each month as there's not enough profit in it for them but other types of lender will be more interested in payment history.

As a matter of interest I applied for a Sainsbury Gold Card (I wanted the travel insurance) and was rejected. I guess that it had something to do with the fact that I already had a Sainsbury vanilla card on which I spent up to £1,000 every month and paid off in full each time. I have had a faultless payment history with this card for several years but if I pay the balance off each month there isn't enough profit in it for Sainsbury as they want borrowers
Thank you for clearing that up, i wil RTFA properly in future:facepalm:
 

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