Amber Burton
speaker
331 appearances
7 recordings
1 series
first heard Nov 2020
last heard Jun 2021
Amber Burton’s voice in public audio — every appearance, attributed to the second.
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Appearances
And there are ways to kind of find a card that has a better fee or no fee.
or find a card that has rewards that more so reflect your spending patterns.
So that's something that people are really encouraged to look into rather than jumping to getting rid of that card.
Because, you know, when you decide to get rid of a card, with that card goes that credit limit associated with that card.
And because of that, your utilization changes.
So utilization is the percentage of credit that you are using, and you want it to be as low as possible.
So just think about it.
If you're getting rid of some of your credit limit,
Your overall credit limit goes down and your utilization goes up.
We don't want that, of course, because that affects your credit score overall.
When a person calls the credit company, they really should be wording it as a product change.
They're not getting rid of the card.
They wanna keep that same account number.
Often that's possible.
You can keep the account number and your own information, but you wanna word it as a product change because you're gonna be able to keep the good stuff, but just tweak the product.
So you're gonna get that new offer, the new fee, a new rewards program.
It is worth noting though, you're not going to get those same offers that you might get if you're getting with a new credit card company altogether, but you are going to get some new terms, which is a reward in itself.
So when you do call the credit card company and do that product change, you should be aware of the timing that you're doing this.
You wanna be a little bit strategic about it, industry professionals say.
If you're doing it around the time that you're applying for a loan or a mortgage, you know, those loan companies, they don't want to see a lot of, you know, change or shakeups within your credit.
Showing 141–160 of 331 · page 8 of 17
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