Getting A New Credit Card: Do It Right This Time

One of the interesting things about running Outlaw is that you hear from a lot of folks who already have credit cards — and it never ceases to amaze me how many otherwise very SMART people have kept the same awful, useless card in their wallet for years… they got it while in school, or their bank teller suggested they sign up for one, and they haven’t even thought about upgrading since then. 

It may be time to get a new credit card if:

– Your card offers no cash back or reward points, or if the reward points have weak redemption value. (5,000 bonus points is cool if it gets you a free flight or hotel stay; not so cool if all it gets you is a Snuggie or free toaster.) 

– Your low or 0% introductory APR expired years ago, and your standard APR is now above 15%, even though you have good credit and always pay your bills on time.

– An annual fee has crept onto your card. You don’t want to cancel it, though, because it’d be a “hassle” to move your magazine subscriptions and other recurring payments onto a new credit card.

– Your bank’s customer service has gone downhill. You typically wait 10 minutes or longer to speak with a CSR when you need help with your account, and when you finally get a “real person” they lack the authority/power to make any changes, reverse a fee, etc.

– They recently reduced or downright slashed your existing credit limit, even though you’ve had the card for years and are not a “high risk” customer.

– Your card company’s anti-fraud department has become vigilant to the point of absurdity; practically every time you purchase something in another state or use an out-of-state gas station pump, the charge is declined and you need to have a lengthy “ID verification” chat with someone on the phone.

If more than two of these cases sound like your situation, do some soul searching this week and decide if it might be time to upgrade to a brand new card, such as the superb Chase Sapphire card (use the application link located here to apply and you’ll receive 10,000 Bonus Points, worth $100.00) or the Wells Fargo Cash Back Card (earn a full 1% cash back on purchases).

I have also been recommending the new United Airlines credit card sign-up bonus to many of Outlaw‘s readers recently.

View all of my favourite new credit card deals and offers over on Outlaw.

Disclosures: I used to review credit cards for a living. Also, my web site has a financial relationship with certain card issuers, including Chase — we participate in their affiliate program. No financial relationship or position on Visa Inc, United Airlines or any other firm mentioned in this story at time of publication.

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