# Should I cancel my credit cards (BoI & Avant) and keep on just one PTSB?



## Niall-1980 (24 Aug 2013)

Hi all new to posting but not new to the boards. 

I find myself in a rather good position but not sure what to do about it.

I recently have changed over my current a/c and savings accounts from *Bank of Ireland* to *PTSB* and I am thinking of applying for a *PTSB* credit card to align everything under the one bank and make life easier.

My question to you guys is: I currently have two clear credit cards one with *BoI* with a €5,000 limit and one with *Avant* with a €6,000 limit; €11,000 worth of credit all together. Nice some people would think but the thing is I don't think I will ever use that sort of credit so I'm thinking of cancelling them instead of paying €60 duty on them every year and just going back to one card with PTSB. 

Do you think I am mad to be closing the door on €11,000 worth of credit that I would never probably be offered again or right if I don't need it and better to save the €30 a year?

Opinions please


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## ajapale (25 Aug 2013)

You should keep the one that represents the best value and ditch the other two. Use it as a payment mechanism only and pay off in full each month. If you have to borrow check out all the alternative sources of cheaper credit.


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## Willy Fogg (25 Aug 2013)

Niall-1980 said:


> Anybody any opinions at all on this???



It's the weekend, so not everyone will be around.

At the end of the day, it's a very personal desicion. Personally, I wouldn't care about having everything in the same place. I'd choose the one that's best for me out of the two and keep it.

One consideration is that PTSB may not offer you a limit that comes close to what you currently hold on your current cards.

If you don't think you will need that amount of credit, there is very little advantage in paying stamp duty twice.


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## Niall-1980 (25 Aug 2013)

PTSB has offered me 5,000 and i think that is enough for my needs. I could keep all 3 and have 16,000 at my disposal ha ha it would cost me 90 euro a year do lol


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## MrEarl (25 Aug 2013)

Niall-1980 said:


> Ptsb has offered me 5,000 and i think that is enough for my needs. I could keep all 3 and have 16,000 at my disposal ha ha it would cost me 90 euro a year do lol



Hello,

Holding three cards seems to be too much, in my view.  I'd get rid of at least one account - keeping a maximum of two (the one you use regularly and the second, in case of "emergency").

Speaking from personal experience, I have an Avant Card (formerly MBNA) & I have to say, I've been less than impressed with them since they took over from MBNA - infact I've not used the card for fear of something going wrong, based on poor experiences with their online service in the early days, customer service over the phone etc.  I'm considering closing it at present - probably replacing it with a rival provider.

I also hold a Danske Mastercard, which I consider very good value (through the Prestige Account) and their online is excellent.

I've no experience with the BoI Credit Card service so cannot comment on them, perhaps others here do.  Both service and lending rate must be considered in my view ... while cost is a concern, cheapest is not always best 

Finally, my wife (who never does a thing wrong, in the financial world ... or anywhere else, if you ask her ) had a massive problem with the PTSB in the past where they messed her about big time, the result being she closed all accounts with them and moved Bank completely, never to return.  While not wanting to discuss my wifes personal experience in great detail here, I'd be very slow to ever suggest anyone rely on them, as a result.

Finally, I'd strongly recommend no one put all their eggs in one basket regardless of with which Bank - Banks have no loyalty to customers anymore and never will have again imho so it's do the best you can for yourself my friend.


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## Niall-1980 (25 Aug 2013)

Thanks so much for your reply and the effort and detail you put into it , Honestly my current, savings, Mortgage are with Ptsb so for handiness sakes with banking 24 etc i am thinking of getting rid of bank of ireland and Avant and just running with the Ptsb one with 5,000, Looked at the Danske one as would like the priority pass and the travel insurance as i travel a bit but their current account may not go the distance at the moment i fear


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## monagt (25 Aug 2013)

If you cancel cards, you may lose your credit limit if you decide to change your mind as Limits were higher during the boom and the new limit will be smaller, if that matters.


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## ajapale (25 Aug 2013)

ajapale said:


> You should keep the one that represents the best value and ditch the other two. Use it as a payment mechanism only and pay off in full each month. If you have to borrow check out all the alternative sources of cheaper credit.



It would appear from your other thread "*Should I save hard to pay down a comfortable mortgage?*" that you have a good income, some savings and a manageable mortgage.

It does not make any sense to borrow at high credit card rates while continuing to save or pay down a mortgage which has much lower rates.

If I were you I would ditch all the credit cards or perhaps retain one with a low limit, use it only for payments and clear the balance fully each month.

If you are stuck in any given month dip into the savings or use the surplus you have by paying the mortgage over the next 10 years. If you really had to borrow I would look at the many cheaper forms of credit availiable from banks, credit unions etc before chasing Credit Card limits.


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## 10one10 (26 Aug 2013)

MrEarl said:


> Speaking from personal experience, I have an Avant Card (formerly MBNA) & I have to say, I've been less than impressed with them since they took over from MBNA - infact I've not used the card for fear of something going wrong, based on poor experiences with their online service in the early days, customer service over the phone etc. I'm considering closing it at present - probably replacing it with a rival provider.


I'm also less than impressed with Avantcard and am looking for an alternative.  In fact, I came on here to start a thread asking for advice.  They provide a very shoddy service compared to MBNA who I found to be top notch.

Anyone have any advice on who to switch to?  I'm looking for quality customer service, rates are not important as I only use it as security for paying online and never spend what I don't have.


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## Gaothfar (31 Aug 2013)

Me too. I'm in exactly the same boat and want an alternative to Avant for my Visa credit card.


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