Wrong Credit Card – 9 Signs You Have the Wrong Credit Card

Nine Signs You Have the Wrong Credit Card

Have you had your credit card for years? If so, are you sure it’s still the best card for you? Financial circumstances can change from one month to the next, let alone years. We’ll talk about nine signs you know if you have the wrong credit card. Switching your credit card has the potential to save you hundreds of dollars each you. You may find your credit score getting a boost as well.

Do you have the wrong credit card?

9 Situations You Have the Wrong Credit for Your Personal Financial Needs

1. You Have a Retail Card

Most people get a retail store credit card as one of their first credit cards. They are easy to get and easy to keep using. They usually come with a promotional discount or savings as well. The drawback with these cards is the APR. This level is typically around 30 percent, and the rewards just can’t match it. Once you realize this, it’s time to choose a better rewards card.

2. Secured Credit Cards

You are supposed to use secured cards on a short term basis. You use them to build your credit and switch out. Once your credit improves, it’s best to switch up to a better card. A secured card is considered a bottom rung card. There is usually minimal rewards or perks. The APR is typically pretty high as well. You’re not doing yourself any favors by keeping it unless all credit card fees are removed. There is a benefit to keeping older credit card accounts on your credit report. This is called age of accounts and it can help to increase your credit score.

3. You Travel, and Your Card Charges Foreign Transaction Fees

If you’ve recently started traveling, check your credit card. The wrong credit card will be charging you foreign transaction fees. This fee will be attached to any purchase that you make outside of the United States. Basically, you’re paying just to use your card. If you travel a lot, look into a card with no foreign transaction fee. This is one way to get a travel discount on your next vacation. Traveling is expensive enough without adding additional, unnecessary costs.

4. Another Card is Offering an Excellent Sign Up Bonus

If your current card isn’t working for you anymore, shop around. There are dozens of reward cards that offer phenomenal sign-up bonuses. If you don’t travel, look for a card that offers cash back or points. Many cards have offered as much as $500 in sign-up bonuses and promotions. This is a great strategy to gain fast credit card rewards just avoid credit churning. They offer this as cash back, miles, or points and you can redeem them in a variety of ways.

5. You Pay an Annual Fee and Don’t Utilize the Perks

Today, several credit cards offer no annual fee. If you have a rewards card, there is usually a higher annual fee attached. But, the card usually makes up for it in rewards. If you take advantage of them, it can be worth it. However, if you can’t remember the last time you used the rewards, rethink your card. There can be a good reason to pay $50 to $120 in annual fees for a card. This is beneficial only if you take advantage of the rewards.

6. Your Current Card is the Only One You’ve Had

This card may have been perfect when you were just starting to build your credit. In the past few years, your credit has continued to improve, but you have the same card. This can be the wrong credit card and holding you back. You want a credit card that works with your current credit level. You may get a higher credit line or a lower APR. Learn techniques on how to build fair credit to good credit.

7. You Had a Baby

As your life changes, so do your priorities. If you’ve recently had a baby, look at your credit card. If you had a rewards card because you traveled a lot, it might be time to change it. At least for a while, you’ll be more focused on everyday things. You may want to look into a card with cash back for supermarkets or department stores. American Express Blue Cash can help you earn high cash back rewards on grocery store purchases. This cash back offer can add to your savings.

8. You’re Carrying a Balance On the Wrong Credit Card Each Month

If you’re carrying a balance each month, you may want a balance transfer card. This type of card will usually give you 12 to 18 months to pay it off interest-free. This is especially valuable if your current card has a high-interest from month to month. You’ll be able to pay off a nice portion of your debt with this new balance transfer card.

9. You’re Spending for Your Business on Your Personal Card

If you own your business, you should have two separate cards. You should have one card for business expenses, and one for personal expenses. This will make it easier to keep track of your cash flow, both business and personal. You may qualify for deductions at tax time with a business credit card as well. Business credit cards may also offer perks like free employee cards too. You won’t get this with your personal credit card. The Capital One® Spark® Miles Select for Business can help you better organize business expenses.

We have gone over nine signs that you may have the wrong credit card. If any of these situations describe you, it’s time to shop around. You want a card that will give you the most back. The chances are that your current card isn’t doing this for you. So sit down, and take a good look at your credit cards. If they’re not working, upgrade them.


CreditFast has reviewed the best credit cards on the market. Some of the credit card offers are from our advertising partners. CreditFast has objectively reviewed the features and benefits of each credit card. We have chosen credit card offers based on our editor’s recommendations.

Monica Kowollik

Director at CreditFast.com
Monica has covered credit card and personal finance news for over 15 years. From an early age, she developed an interest in financial literacy and saving money. Monica hopes to help others to improve their personal finances one article at a time.

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