Has your Credit Card changed?
As of late, more and more credit card companies are making changes that may not benefit card holders. Has your credit card changed over the years? Are the terms different than what they were when you first applied for the card? Chances are that you are 100 percent aware of these changes, as well as what they have meant to your finances.
What are some of the more common changes that consumers are facing? To start, any APR hike is a bad one. The higher your APR the more money you are paying when you carry over a balance. If your credit card company has changed this detail you need to think twice about what you are doing – it may be time to make a change.
Some credit card companies are cutting back on their rewards program. This means that all those points you have accumulated over the years may not get you nearly as much “stuff” as you were hoping for. Are rewards the only reason that you carry your credit card? If so, you need to make sure that your credit card’s program is still worth your time.
Don’t just give up. If your credit card has changed you should get in touch with your company and see what they can do for you. You may be surprised at how quickly things can change back with one phone call. At the very least you should ask for an explanation, and see what they can do for you.
It is a shame, but many people are facing credit card changes without asking for them. If these changes have negatively affected you, think about making some changes of your own!
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