Half of millennial credit cardholders say that their primary card has lasted them longer than their most recent romantic relationship, according to a new report from CompareCards.com.
With Valentine’s Day approaching, CompareCards asked credit cardholders about their most recent credit card breakup – the last time they changed the credit card they use the most. The results clearly showed that Americans don’t easily break up with their most-frequently used credit cards, but when a break up actually does happen, it’s most often over APRs rather than rewards.
Key Findings
“What it comes down to is this: If you don’t change credit cards at least occasionally, you’re leaving money on the table,” said Matt Schulz, Chief Industry Analyst at CompareCards. “If you haven’t shopped in a while, it’s worth taking the time to ask yourself how you use your credit cards and what you want to get from them. Once you’ve answered those two questions, look at what your current favorite cards offer and ask yourself one final question: Does my current credit card give me the rewards that I want and help me get the most out of what I spend? If the answer is no, it’s probably time to move on. While breaking up can certainly be hard to do, in finances as in relationships, sometimes it is for the best.”
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