- Centurion Member
- Posts: 1468
- Joined: Tue Jul 31, 2012 12:20 pm
- Location: United States
Which bank issues your current cards? If the bank has other credit card products, you may be able to convert your current cards to rewards cards. You will maintain your credit history - they wouldn't be new accounts - and you can take advantage of rewards without having to obtain a third card.
On the other hand, you would probably receive a decent limit on a new card. Nothing would prevent you from keeping the old cards open, to maintain credit history. You also wouldn't lose much, if anything, in the way of scores. Right now, you average age of account is about 13 years. If you applied for a brand new card, your average age of account would still be over 8 years - the highest range for credit scoring.
You have nothing to lose, either way, if you act. If you don't act, you'll always be 1-5% behind rewards cardholders.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]