Credit cards are great for racking up rewards and points, but you want to ensure you have the right card for your spending style. There are many considerations when picking a card, and depending on your life stage, you may need to pick a new one. This article will look at several different factors to consider when deciding whether you should get a new credit card.
1. You Found a Credit Card With Special Sign-Up Bonuses
One of the best times to look for a new card is when special sign-up bonuses are offered. These introductory bonuses can be worth hundreds of dollars. Often, they come in the form of points or travel miles that you can redeem. Usually, these bonuses require the new cardholder to meet a spending goal within the first 30-90 days of opening the card. The goal is to get you to place money on the card so you can build up a balance. During these introductory periods, interest rates are lower than normal too….