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Credit Cards Keep or cancel cards

Discussion in 'questions. answers. conversations.' started by GBOAC, Jan 26, 2018.

  1. GBOAC

    GBOAC Member

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    I recall discussion in the past about whether it is better to keep a credit card you are not using (assuming no annual fee) or simply cancel it. The issue seems to be keeping a longer credit history in your credit report. Assuming that it is worthwhile keeping a card you had open for many (say >5 years) but would it make a difference if you had it for only a few years. Or does make any of this matter. Can someone remind of the consensus if there is any.
    The specific instance here is that my United Explorer card which I have had for 3 years is up for renewal, and I now am United Silver so I already get the benefits offered by the card. I have the Sapphire Reserve card so I use that for most of my travel charges. I believe I can downgrade to a fee-less United card.
    Thanks
     
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  2. MidSouth Skier

    MidSouth Skier Well-Known Member

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    I agree with your assessment of your situation - provided you think you'll be maintaining UA Silver status going forward. I think the main advantage of holding on the the free version of the card is that you'll still have access to the cardholders-only award space.
     
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    Daniel B likes this.
  3. Daniel B

    Daniel B Active Member

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    I was very interested in your comment. Can you tell me a little bit more about this "free version" of the (I assume) United card? I was also not aware of the "cardholders-only award space". Does that relate to United's MileagePlus card? Thank you
     
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  4. MidSouth Skier

    MidSouth Skier Well-Known Member

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    I don't know much about the free card but I believe it only earns .5 miles per dollar spent. But UA does set aside some award space that's available to cardholders only (or maybe if you're elite you can see it too, I'm not sure). But I've definitely seen a difference searching for space when I'm logged in vs. when I'm not. I really notice it on flights from MEM to a UA hub city as often those are smaller planes and sometimes they seem not to provide any saver award space at all.
     
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    Daniel B likes this.
  5. Daniel B

    Daniel B Active Member

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    That is definitely good to know (the potential for extra award seat availability with the card). Thank you.
     
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  6. Gaurav

    Gaurav Well-Known Member

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    The other benefit to the card is increased earning with the MPX app.
     
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