Why People Switch Credit Cards

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Why People Switch Credit Cards

March 8, 2019

Credit Cards

Why People Switch Credit Cards

People switch credit cards for a lot of reasons. Maybe they’re looking for new perks from their cards or want cash-back offers. But what’s the number reason they switch? Wallethub’s 2018 Summer Credit Card Survey’s says it’s because they want a better interest rate. “The average APR among those surveyed was 19 percent, and carrying a balance with an interest rate that high can be costly,” said CNBC. “The average U.S. household with revolving credit card debt pays almost $900 in interest each year.” Image via PYMNTS.