Do you have the best card? Know which credit card you should get!
Your credit card is a very important tool! If used wisely, it will surely save you in your times of financial emergency and crisis.

But many of us are not happy with our credit cards. Some find it a menace, while some call it a burden, and they just want to get rid of it!

Are you one of those who don’t get the most out of their credit cards, like rewards and gifts? Or you find the interest rate is too high to cope up with?

Then chances are you don’t have the best card and you are probably using a wrong credit card!

The trick in the credit industry is to be wise in choosing the right credit vehicles. There’s good credit and bad credit, then there are good credit cards and bad credit cards.

This post is a small one and it will help you to choose the right credit card and be a smart consumer. Stay grooved./p>

How to understand that you have a bad credit card with you:

The first indication is, you are having trouble managing the card even though you don’t use it much.

The primary problem could be the hefty payments. The main reason behind is the interest rate.

If you have a credit card with you for a long time, then another problem could be you are not getting back enough rewards on your purchases.

Here are the top identifiers for a wrong credit card

1. Often have a look at your credit score:

Your credit score will speak out if you are using credits badly. This is the best identifier.

If your credit score is bad even after using your credit cards wisely, then something's seriously not right with your card.

Chances are your credit limit is low and it’s time you take care of that.

2. Pay attention to identity theft and fraudulent activity:

There could be actually nothing wrong with your card or with you. But if you have to do heavy payments even after using your card sensibly, then you better pay attention to identity theft.

There have been many new recent reports of identity theft and credit card cloning.

The highly skilled hackers can get all your card’s information and do transactions, while you will have to pay the bill.

So pay attention to any transaction happening on your card that you have not initiated or authorized.

3. See how long you have been using this credit card:

The time period of credit cards is another driving factor that makes it a card not worth having.

It could be highly possible that you are still holding onto a lower credit limit that you had 4 or 5 years ago.

Your credit limit is one of the most important components of your credit card. A low credit limit will eventually get you a high debt-to-credit ratio.

And a high debt-to-credit ratio will mean you can’t handle credits.

Here are the steps to take if you don’t have the right credit card

a. Call your credit card issuer or company representative:

First, understand the problem you have and check out the current deals you are getting on the other credit cards available in the market.

Now call your creditor and tell them that you are not satisfied with your credit card.

Tell them your problem in brief like you are not getting cashback or rewards, or for instance, you want to increase your credit limit and lower the interest rate.

If the representative agrees by viewing you as a potential customer, then it’s okay, else say you don’t want this card, and want to pay-off your debt and close the account.

Later you can issue a new card from another company that has favorable terms and benefits.

b. If you want to hold onto this card:

If you want to continue using the old credit card, as it reflects a good credit history, then you should be wise in using your card.

If the annual charge is huge, then probably you should consider using a new one.

Again, you can definitely talk to your creditor, and see if you can get any extra benefits as you have been a good consumer for such a long time!

Which credit card you should have?

  1. A card with a good credit limit.
  2. A card with an interest rate that you can cope up with. Usually the lower the better.
  3. A card with more security features. Ask the representative to know more about it.
  4. A card that offers more rewards and cashbacks than your previous card.
  5. A card that has low annual fees and that comes with a 0% interest rate in the introductory period.
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