You boosted your credit score—and now you want to upgrade to a credit card with actual perks. Higher-end cards typically offer features like cash back, airline miles, and lower interest rates. How do you know you’re ready?
-Great credit alone won’t cut it. Card companies want you to have a stable job with higher-than-average income—and they want to see that you have a history of charging a lot (and paying on time).
-Make sure the fee is worth it. A lot of premium cards come with annual fees ranging from $50 to $250. “Weigh the fee against the services you’re apt to use before you apply,” Fly often? A card that gives you access to cushy airport lounges might be worth it. Do the math.
-Get one you’ll actually use. Start by checking out Credit Card Guide’s free CardMatch tool, or search cards according to your credit score range on CreditCards.com. “It’s not worth it to get a card that’s irrelevant to your life.”
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