Point Me To First Class 99. Keep, Cancel, or Change: Simple Steps to a Stronger Credit Card Portfolio
Jan 20, 2025
Discover how to evaluate your credit card portfolio with a simple 5-step process. Learn why an annual checkup is vital for aligning your cards with your evolving spending goals and travel aspirations. Get insider tips on managing fees and safeguarding your credit score while deciding whether to keep, cancel, or change cards. Plus, find out the key questions to assess your cards effectively and why retaining rewards is crucial before making any moves. Transform your credit card strategy into a powerful tool for unforgettable experiences!
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Annual Credit Card Portfolio Review
- Evaluate your credit card portfolio annually to avoid paying for unused or outdated cards.
- This ensures your credit cards align with your travel goals and spending patterns as they evolve.
Credit Cards Have Different Roles
- Each credit card in your portfolio plays a unique role, similar to football team positions.
- Recognize that different cards serve different spending and travel needs, some temporary, others permanent.
Start With Cards Older Than One Year
- Review rewards cards only if held for at least 12 months to avoid penalties and product change restrictions.
- List all eligible cards by issuer and type before evaluating to organize your portfolio effectively.