I’m getting rid of my credit card. I’ve made up my mind after months of going back and forth about what I want to do. It was a somewhat hard decision because I’ve been with this credit card company since 2005 and it was my first credit card. However, it’s time for a change, and as they say, “change is good.” Let me explain why I’m getting rid of my credit card.
No Benefits
This card has no benefits whatsoever. Since I started blogging and reading more personal finance blogs, it really made sense to make my money work for me. I wanted to gain twice – when I made a purchase and receive some time of reward for purchasing. So I called them and asked if they had any credit cards with benefits that I could switch to. The answer was along the lines of yes they do, but only certain people qualify for them and I was not one of those people. Oooooookkkkkkayyyyyy.
I Have an Alternative Credit Card
The alternative credit card that I have, has nice benefits attached to it. As long as you use it, you’re guaranteed to gain. You can’t beat that. I also find that the service at the bank is great and the people are helpful. Although the limit on the alternative card is lower, I have never maxed it out and I pay off the balance at once.
I Don’t Use it Anymore
This is mainly because it has no benefits and I find myself using my other credit card to make my payments. It really does not make sense to spend money and gain nothing at all, when I can spend and gain somewhere else. And it definitely does not make sense to pay a yearly fee for it.
In the past, this credit card came in very handy and was very instrumental in allowing me to pay for things when I did not have the cash at hand. But now I’m more cautious about how I spend and I have an emergency plan for the unexpected things that might pop up.