One of the first things that you should consider when you’re considering whether to update your credit cards is the rate of interest that you’ll pay on the balance that you carry on the card. And whether or not your interest rate will change if you get a new credit card. If your credit has changed, then chances are you will qualify for a different interest rate based on whether your credit score increased or decreased. Now, obviously, before you consider applying for any credit card, you should check your current credit score.
Once you have your credit score in hand, then you will want to choose credit card, loan, and other offers based on your credit score. Doing so will help you to find offers that you are more likely to qualify for, so you won’t waste your time applying for unsuitable offers only to be continually rejected.
Typically, your credit score will fall into one of the following.
Check out the current credit card interest rates for your credit scoring range, then compare them to yours. If you can save money on credit card interest, it’s nearly always worth it to apply for a new credit card in the long run.