Posted on: Feb 11, 2015

Do you want to change your credit card? Here are the best time to do it!

1. Be Aware of New Bonuses

This is such a competitive market that there are always new offers if you apply for a new card.
You need to check on a regular basis for latest amazing credit card offers and Silver is the best app for that. If there is a better offer for you, then this is time to apply for a new card that will earn more benefits.

2. It’s in your interest to switch to a new card after 1 year

Credit Card issuers provide the best offers to their new clients. You have no interest to stay with them after 1 year.
You can always ask for a retention bonus. You call their customer care and ask them if there is a specific bonus if you decide to stay with them. Otherwise, you just transfer your credit line to a new card with the same credit card issuer.

For example, let’s say you have 2 Chase cards (a Chase Freedom and a Chase Sapphire), if you want to close your Chase Freedom, ask Chase to transfer 90% of your credit limit to your Chase Sapphire before you close it.
You can also open a new card and if they decline your application you tell them that you are willing to close another card and use the credit line available.

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.