8 Reasons to Change Credit Cards, Now!

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If you’re like a lot of people, you may have found yourself in a scenario like this… you signed up for a credit card that sounded good at the time because it had introductory offers but you’re now finding it’s costing you more than you thought.

You also suspect that there are better options out there but you’re not quite sure whether to jump ship or stick with what you’ve got. This happens frequently.

If you’re questioning whether to keep the credit card you have or whether it’s time to switch, consider some of the following reasons to change credit cards and get a better deal.

In no particular order:

1. Bad customer service: Nothing will light a fire under you to change banks like a bad customer service experience. If you’ve not been treated well, or even worse, if it’s very difficult to get in touch with your bank’s customer care team, then it’s time to go.
2. Annual fee: If you’ve already paid your annual fee and there’s many months left to go then maybe hold off for a little while. But if your yearly window is nearly up then start looking around. Also, now is the time to ditch the annual fee and switch to a card that doesn’t have one!
3. High interest rates: One of the main reasons why you should change credit card is when the interest rates are holding you back from paying off your debt. If this is the situation you find yourself in, then head on over to our balance transfer page and find a card that will charge as low an interest rate as possible when you transfer your balance across.
4. Lifestyle changes: Your lifestyle may have changed and the card you have no longer suits your needs. For example you might be flying more or planning from an overseas trip and want to earn some points. You might also be earning more and spending more, or of course, less, in which case a different card might suit you better.
5. Hidden fees: You may find you’re being slugged with charges and fees you didn’t notice in the fine print when you signed up. If you’re being hit with fees that you didn’t know about when you signed up, then move to another bank as soon as you possibly can in order to avoid paying them again.
6. End of intro offers: If the introductory offers have run out and the card isn’t benefiting you anymore, move. In fact, it’s often the case that the introductory interest rate offers are what you signed up for. In this case, it’s important that you set up a reminder to change cards so that you don’t start paying the standard rates when these run out.
7. Poor online banking: One of the most common reasons for being unhappy with your card is that you’re not happy with the internet banking service. If your card doesn’t allow you to see your spending and statements online, then move. You’ll want to move to a card that ideally breaks out what you’ve purchased, how much interest you’ve been charged, let’s you pay online and set up automatic recurring monthly payments.
8. An international move: You may even move overseas in which case you may want to consider banking with a bank like HSBC or Citibank with whom you can bank internationally. Keep in mind though that so long as you have internet banking you’re a lot more free to deal with a move, although exchange rate fees will come into play.

The questions need to be asked if you’re going to get the best deal to suit you and your needs, so consider changing credit cards, now! Use our credit card comparison website to help you make an informed decision about what you sign up for next.

Credit Cards with Introductory Balance Transfer Offers

	Credit Card Offer	Purchase Rate (p.a.)	Balance Transfer (p.a.)		Annual Fee	Apply now
			rate	period
	HSBC Credit Card No annual fee. 0% on balance transfers for 8 months. Access to offers, discounts and benefits.	17.99%	0%	8 months	$0	Featured Card more info
	ANZ Platinum Credit Card Platinum rewards. 0% balance transfers & purchases for 6 months. Apply before 12 June 2012	0%	0%	6 months	$0	Editor’s Choice more info
	Citibank Clear Platinum Credit Card 0% for 6 months on balance transfers. Platinum rewards. 1/2 price annual fee 1st year.	0%	0%	6 months	$49	Editor’s Choice more info

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