2/12/2023 0 Comments Airport ceo game baggage memeIf you're not using the card's benefits, its bonus categories don't align with the way you spend or the card's annual fee increased too much, it may be time to cancel or replace the card. If you're thinking about when to change credit cards, the best time to do so depends on how you use the card and if there have been any recent fee or benefits changes. Keeping or replacing the card depends on the value of the card's benefits and how much you're earning in rewards on your spending.Įdward Pizzarello, a road warrior and host of the Miles to Go Podcast, recommends "a wallet checkup twice a year" to evaluate the benefits, your spending patterns and the card's annual fees. In that case, you can replace the card or ask to downgrade it to a no-fee version.įor cardholders who can afford the annual fee, the answer is more nuanced. Whether you are focusing on paying off your debt, saving up for a large purchase or living with a tight budget, paying an annual fee (even if the benefits are amazing) may not be a wise choice. If you can't afford the annual fee, it is a no-brainer decision to replace the card. Are you getting enough value to justify the cost? The decision to keep or replace a credit card generally comes down to two questions: You should review your credit cards on a regular basis, just like an annual job review.
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