You might have been using the same credit card for years now while thinking you’re getting a great deal the entire time. You don’t pay those junk letters and advertisements for new credit cards any mind because you’ve got it so good with your current provider, right? You might think you’re right, but it might also be time to dump your credit card. There’s most likely some weaknesses in the structure your current card provider has built and you could be missing out where you don’t have to. The credit card industry is running over with competition and offers that exist to try and undercut the next company’s business, so you can believe there’s always a new product or service out there that you could be taking advantage of. Are you sure there’s got to be better rewards or interest rates out there for you? Just dump your credit card this year and start searching for some of the other options out there for you!
Help over the Phone Is Lacking
Have you ever ran into issues with your bill that you needed to have rectified over the phone only to find no help at all? The customer service department is there to help each customer in some way or another. If you find that your company doesn’t seem to have much concern for your issues, you might want to dump your credit card for a provider that’s more understanding and helpful. Your time and problems are important, and you should get that sense from the customer service department: regardless of what you’re calling about.
It should be very easy to find information about the credit card providers with the best customer service departments.
Those Rewards Aren’t Useful Enough
The value of a good rewards program has been driven up in recent years and the person that’s had the same credit card for ten years is almost certainly not getting the same rewards and perks as the person that just opened up a credit card account this year. Cash back rates have risen astronomically and the lists of perks you could seem to be getting longer and longer. There’s no reason that you should be missing out on upgraded rewards and you might want to dump your credit card to see what’s out there waiting for you.
In some cases, if you’ve already got one type of card with a provider you like, you might be able to switch to another, more valuable credit card in their lineup without incurring any fees or penalties: this is especially true of the clients with strong payment histories.
Your Credit Score Is Even Better Than Before
It’s no big secret that different clients are offered different rates at the time of application depending on their credit score and worthiness. As long as you keep up with your payments and you pay down at least your minimum balances or more regularly, your credit score should improve over time. If this is the case, you’ll most likely get stuck with an interest rate that’s not very fair or reasonable. If you like your credit card provider enough, you could ask them to adjust your interest rate. If they don’t want to budge, you should just dump your credit card account and start with a new provider that’s likely to be more reasonable.
You might want to apply for a new credit card before cancelling your old account. Make sure you search around well for the best rate you can get before going with the first one you find.
Your Life Is Different and You Need More
Maybe you were a less responsible person when you initially applied for your credit card. Perhaps you used to be in the habit of racking up hefty balances only to pay them off little by little, but now you strive to pay your bills off in full before they’re due. If that sounds similar to your situation, you probably could afford to pay a little more in interest to get even better rewards that you can use.
If the opposite is true for you and you’ve got a great rewards program but very high balances, you might want to consider trying to dump your credit card for a lower-interest option that doesn’t bind your finances so heavily.
You’re getting out Of the Country
Most of the credit cards on the market today charge at least three percent for any purchases made outside of the United States. It goes without saying that your balance will add up very quickly if you’re planning a trip out of the country and using your credit card the entire time. If you’ve got an older generation credit card, it might not have the smart chip in it that’s crucial for using an ATM in another country.
If it’s time to dump your credit card, there’s more than enough options out there for you to choose!