Should You Switch Credit Cards?
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Do you feel like its time for a change? Maybe not in your wardrobe or diet, or even the type of car you drive, but with your credit card company? Do you feel like there's something else out there for you somewhere- a credit card company that will treat you fairly and with kindness and respect? Maybe even give you rewards that you can actually use for using their card over another? Is there really such a thing?
For most of us, credit cards are a means of purchasing items that we don't have immediate access to the necessary cash. We often promise ourselves that we will "pay off the entire balance as soon as the bill comes in!" But before we know it, the minimum payment (or very close to it) is the amount written on the check and he balance is carried from one month to the next. For these types of people, switching from one credit card to another is a bad idea because the old card will feel like "free money" for you to spend. Before you now it, you'll have 2 cards very close to their credit limits.
On the other hand, there are quite a few of you (please note the "you", not "me") that are very good about keeping their self-made promises and paying off their balances in full. Remember, if you pay off your balance in full each month, you never have to worry about the interest rate you're paying. To you, by all means, find a credit card that has rewards that are useful to you.
Finding the Right Rewards
If you don't have an interest in traveling the world, then airline miles won't be worth their weight in dirt to you. If you never buy only previously owned vehicles, a credit card offering cash off of a new car is a waste. Rewards are only good if you can get use out of them; so keep that in mind when you're searching for the perfect card. The credit card companies are battling for our business, so they have been offering a broader range of rewards (like airline, restaurant gift certificates, points for florist redemption, music downloads, etc.) If you still can't find something that you can use, think of gift giving needs, and beyond anything else- straight cash works well for anyone.
One Final Note…
Open lines of credit can hurt you if you're planning on making a large purchase, like a house, so be sure to close any cards out that you're not using. Plus, the temptation of an open credit line can be a tough one to resist on a rainy day-and we all have one of those every once in a while.
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