Questions and Answers

I’ve had a United credit card for several years and recently got a new United card to take advantage of the 50,000 mile offer. I’m wondering about when should I cancel the old one ($25,000 limit) because I’ve heard negative comments about cancelling a credit card and how it affects your credit utilization and overall credit score..

[USER=832]@Papa13[/USER] Does the old card have an annual fee? I have an old no-fee United card that I keep open to extend my length of credit history. Either way, unless the new card has some benefits that the old card doesn’t I would cancel the new one in a year and keep the old one.

[QUOTE=”Gaurav, post: 7661, member: 79″][USER=832]@Papa13[/USER] Does the old card have an annual fee? I have an old no-fee United card that I keep open to extend my length of credit history. Either way, unless the new card has some benefits that the old card doesn’t I would cancel the new one in a year and keep the old one.[/QUOTE]
I hadn’t thought of cancelling the new one. The old one does have a fee of $60 and the new one is 0 for now and $95 per year starting next August. If I do what you suggest and cancel the new credit card, will that affect the 50,000 miles, and some other perks, that they will be awarding very soon? Thanks.

I’d keep the new one until the annual fee is due. Is this the MileagePlus Select card you have? I have that one and think it’s better than the regular (non-Explorer) card they offer now. It gets 2x miles at grocery stores and home improvement stores – as well as the free checked bag benefit the newer card offers.

Like Gaurav said, keeping the older one open will help lengthen your credit history and, hey, it’s cheaper!

[USER=832]@Papa13[/USER] just to follow up, your miles will be fine after they post to your United account. Your perks will be valid as long as you hold the card that provides them.

[QUOTE=”Gaurav, post: 7664, member: 79″][USER=832]@Papa13[/USER] just to follow up, your miles will be fine after they post to your United account. Your perks will be valid as long as you hold the card that provides them.[/QUOTE]
Thanks for the quick replies…my new card is the United Mileage Plus Explorer and I signed up for it because of the 50,000 miles. Now I think I will keep the old one and cancel the new before the annual fee kicks in next August. Appreciate the advice.

When the time comes to renew the new card, why not transfer the new card’s credit line to the old one and then cancel it? Your credit line will remain high and the utilization goes down.