new credit cardUpdated: Aug. 10, 2017

When was the last time you got a new credit card? Although there’s no rule detailing how often you should get a new card, it’s probably safe to say if your card is more than a year or two old, you may want to start shopping around. Keep reading to learn three reasons why now’s the time to get a new credit card.

Credit card offers are getting competitive

We write a lot about credit cards, and we’re always up-to-date on the most recent credit card news. Whether it’s a new limited-time offer or a complete card update, we’re writing about it. As such, we can confidently say that credit card offers are getting more and more competitive. In fact, some of the best credit cards on our site offer really impressive credit card offers, and the best part is there’s a card for everyone. Whether you have not-so-perfect credit, you run a business or you’re a world traveler, there’s a card for you! Don’t believe us? Here’s some of the best offers we’ve seen:

Best low APR and balance transfer credit card: Citi Simplicity Card – No Late Fees Ever

get a new credit cardWith a whopping 21-month 0% intro APR on purchases and balance transfers, you can’t go wrong with the Citi Simplicity Card – No Late Fees Ever (a NextAdvisor advertiser). Although cardholders will have to pay a balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater, using the card for a balance transfer is likely still worth it because you’ll get over a year and a half of no interest. On top of paying no annual fee, cardholders will pay no late fees or penalty rates for late payments, and they’ll get free monthly Equifax FICO scores, which help you keep tabs on your credit.

Best rewards credit card: Blue Cash Preferred Card from American Express

get a new credit cardWhen it comes to rewards, the Blue Cash Preferred Card from American Express (a NextAdvisor advertiser) is hard to beat, as it is a cash back-earning machine. Cardholders will earn an impressive 6% cash back at U.S. supermarkets (up to $6,000/year in purchases, then it’s 1%), 3% cash back at U.S. gas stations and select U.S. department stores and 1% on other purchases. Next, when you spend $1,000 on purchases in the first 3 months of account opening, you’ll get a $150 statement credit. Cardholders can redeem their rewards for statement credit, gift cards and merchandise. Rounding out the card is a limited-time offer that allows you to pay no annual fee for the first year! After the first year, the fee is $95, but if you frequent the grocery store or gas station, your earned rewards will likely balance out the annual fee (and then some).

Best cash back credit card: Wells Fargo Cash Wise Visa Card

get a new credit cardEarning cash back has never been so easy with the Wells Fargo Cash Wise Visa Card. That’s because this card earns an unlimited 1.5% cash back on every purchase and 1.8% cash back on qualified mobile wallet purchases made through Apple Pay or Android Pay during the first 12 months from account opening. Since you earn the same cash back on every purchase, you don’t have to worry about rotating categories or quarterly caps. In addition, when you spend $1,000 on purchases within the first 3 months, you’ll get a $200 cash rewards bonus. Cash rewards can be redeemed for cash back via direct deposit into a Wells Fargo checking or savings account, a withdrawal at a Wells Fargo ATM or a physical check. Rewards can also be redeemed for gift cards, merchandise and travel. Cardholders who use their Wells Fargo Cash Wise Visa Card to pay for their monthly cell phone bill will receive mobile protection for up to $600 per claim (with a $25 deductible and a maximum of 2 claims per year), which is a great feature. In addition to no annual fee, cardholders will get a 12-month 0% intro APR on purchases and balance transfers (with a 3% intro balance transfer fee for 12 months, then it’s 5%).

Best travel credit card: Barclaycard Arrival Plus World Elite MasterCard

get a new credit cardTravelers will love the Barclaycard Arrival Plus World Elite MasterCard. Kicking things off is 50,000 bonus miles — worth $500 in travel statement credit — that you can earn when you spend $3,000 on purchases in the first 90 days. In terms of ongoing rewards, you’ll earn 2X miles on all purchases, which makes things easy. Miles can be redeemed for travel or cash back statement credits, gift cards and merchandise, and every time you redeem your miles, you’ll earn 5% miles back to use toward your next redemption. The Barclaycard Arrival Plus World Elite MasterCard has no foreign transactions fees, an ideal feature for a travel rewards credit card, and it holds the top spot in our Travel Rewards Credit Card Analysis for its average flight and hotel redemption value of $2.10 for every $100 spent. Even though the card has an annual fee of $89, it’s waived for the first year, and the card offers a 12-month 0% intro APR on balance transfers made within the first 45 days of account opening (with a 3% or $5 balance transfer fee, whichever is greater), which is a rare perk for a travel rewards credit card.

Best for those with average credit: Discover it – Cashback Match

get a new credit cardHave not-so-perfect credit? You’re in luck because Discover it – Cashback Match is a card with generous cash back opportunities, and the card is available to those with average to excellent credit (usually a score of 670 or higher). To start, Discover it – Cashback Match earns 5% cash back in categories that rotate quarterly (up to the quarterly maximum, currently $1,500, then it’s 1%), like Amazon.com, gas stations, restaurants, wholesale clubs and more, and 1% cash back on all other purchases. You will have to enroll to earn 5% cash back, but Discover will remind you when it’s time. Next, Discover will match everything you’ve earned at the end of your first year as a cardholder — this means if you’ve earned $600, Discover will match that to give you a total of $1,200 back! On top of that, cardholders will pay no annual fee and get a 14-month 0% intro APR on purchases and balance transfers (with a 3% balance transfer fee). Cardholders will also get their FICO credit score for free on monthly statements and on their online or mobile account.

Best for businesses: Ink Business Cash Credit Card

get a new credit cardBusiness owners will be pleased with the Ink Business Cash Credit Card because it earns rewards on all their business-related purchases. Cardholders earn 5% cash back at office supply stores and on cell phone, landline, Internet and cable TV services up to the first $25,000 spent in combined purchases each account anniversary year. Next, cardholders earn 2% cash back at gas stations and restaurants up to the first $25,000 spent in combined purchases each anniversary year and an unlimited 1% cash back on all other purchases. Additionally, cardholders will get a 12-month 0% intro APR on purchases and balance transfers (with a $5 or 5% balance transfer fee, whichever is greater). Closing out the perks of the Ink Business Cash Credit Card are no annual fee and employee cards at no additional cost.

Best for students: Discover it for Students

get a new credit cardCollege is the perfect time for someone to start building a credit history because it will set them up for success in their post-college life, and Discover it for Students is the perfect card to do it. This card earns 5% cash back in categories that rotate each quarter, like Amazon.com, restaurants, gas stations, ground transportation and more (up to the quarterly maximum, then it’s 1% back), and 1% cash back on all other purchases. On top of that, Discover will match all of the cash back cardholders have earned at the end of their first year — this means if you earn $300 in your first year as a cardholders, Discover will match that to give you a total of $600 back! On top of paying no annual fee, cardholders will get a 6-month 0% intro APR on purchases and monthly access to their FICO score for free, along with a credit dashboard that helps students learn more about their credit.

Keep in mind that there are a number of other impressive credit card offers out there — we’ve only covered the top ones for each category. Visit our reviews of the best credit cards to see all more competitive credit card offers.

Interest rates are on the rise

The Fed has already increased interest rates twice this year, and it’s expected to raise them again later this year, which means your credit cards’ interest rates aren’t going down anytime soon. Although this isn’t a big deal for those who pay off their balance every month, if you’re carrying a balance on one or multiple credit cards, you may want to consider a balance transfer credit card. Not sure which ones are worthwhile? We noted our top-rated balance transfer credit card, the Citi Simplicity Card – No Late Fees Ever, above, but if you want to see more options, you may want to check out our reviews of the best balance transfer credit cards use our free Balance Transfer Calculator to find out which cards are best for your transfer amount, monthly payment and credit rating.

Loyalty bonuses sweeten the deal

If you’re loyal to a credit card or a credit card issuer, there are some major perks, which may make sticking with that brand or using that card even more worthwhile. For example, Bank of America banking customers who also have a rewards credit card will receive a bonus of 10% when they redeem their rewards for a deposit into an eligible checking or savings account, and Premier Rewards customers will earn a bonus of 25% to 75%, depending on their tier status. Bank of America isn’t the only card issuer offering such a perk, as Wells Fargo banking customers are offered more rewards redemption flexibility when they have a Wells Fargo checking or savings account and a number of Barclaycard credit cards, including the Barclaycard Arrival Plus World Elite MasterCard (detailed above) and the Barclaycard CashForward World Mastercard, offer a bonus every time you redeem your rewards. For example, when you redeem your Barclaycard CashForward World Mastercard rewards, you earn a 5% cash rewards redemption bonus to use toward your next redemption. These are just a few examples of the kinds of loyalty bonuses and perks some of the cards we review offer. If you’re looking for a certain credit card issuer and potential perks you may earn with one of its cards, visit our reviews of the best credit cards and pick your preferred credit card issuer from our credit card finder on top right side of the page.

Credit card offers are always changing, and while these changes are not always impressive, consumers should still be aware of this fact and considering shopping for a new credit card every now and then. After all, if you find a card you love and use it responsibly, you can help build or maintain a positive credit history. If you want to keep up with the newest credit card offers, be sure you subscribe to our newsletter – the signup form is on the right side of this page.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.