When was the last time you reviewed your credit card?

When was the last time you reviewed your credit card?

How long have you had your credit card? 1, 2 or 3 years?

Well, MoneySuperMarket’s latest survey reveals that it’s most likely to be for at least seven years, with nearly a third of us staying with the same card provider for more than a decade!

The credit card market has moved on a lot in that time with interest free offers lasting longer, more choice for balance transfers and more generous cashback and reward schemes on offer.


Cheaper Christmas

The credit card market is very competitive, and if you are looking to use plastic for all those Christmas purchases, then by applying now you should receive it in time for that festive spending, whilst taking advantage of the many attractive deals on offer.

Whether you prefer a card that rewards you for your spending or allows you to spread your payments interest free, there are a number of different options available.

MoneySuperMarket’s research shows that:

  • 25% of people would switch credit cards to get better perks and benefits
  • 16% would switch to gain access to a longer 0% period.


So the question is, which credit card is right for you?

Well the right one will depend on how you plan to use it and your personal circumstances.

If you plan to:

  • Clear the balance each month – then a reward or cashback card will pay you back for your spending.
  • Spread the cost of a spending spree – then a card offering 0% on purchases will let you pay off your card over a period of time without any interest being incurred.
  • Transfer a balance from another card – then a balance transfer card will allow you to pay off


When do you switch?

Now is a good time, why wait?

MoneySuperMarket’s research shows that only 25% of credit card holders are likely to change to a new card within the next 12 months. But by changing to a more competitive deal, it could save you hundreds of pounds over the year.


How do I change?

How do you pick the right card out of the hundreds on offer? Well once you’ve decided how you plan to use your credit card you can visit a comparison site, like MoneySuperMarket and compare the best credit card deals.


Now get changing!


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