According to finance investment companies in Delhi, India, in the present age credit cards are tools that consumer use to improve their financial life. However, tools are required to be replaced from time to time in order to ensure that you enjoy the best of the facilities in the form of newly added credit cards.
Research say that even in the richer countries, more than 25
million borrowers are known not to have jettisoned their favorite credit cards
for at least ten years.
While another 20 million have never replaced it. However,
the truth is that clinging on to your credit cards will not pay in any way.
This is because credit cards are designed to entice new customers with
lucrative sign-up bonuses and better opportunities for accumulating points,
rewards and cash back. Hence, if you sit comfy and keep sticking with your same
old card for years, then you are sure to miss out on more money from your
pocket and better offerings.
Reason for Sticking
to Old Credit Cards:
Most of
the borrowers have one or two legitimate reason for not having changed their
favorite credit cards for more than a decade. They simply do not want to cancel
their old credit cards because they’re afraid of hurting their credit scores
according to finance investment
companies in Delhi, India. Although this is a legitimate reason, it should
not stop you from getting new credit cards. So, the smart move would be stop
using your present credit card for any purchases. Then, bring in the new card
with better rewards and bonuses as you go to payment method.
Meanwhile,
some of the people from this group avoid getting a new credit card due to
lingering balance. If this is the case with you, it would be really unwise to
open a card if you can’t pay off your balance every month. The interest
payments will vitiate any rewards you’ll accrue.
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