Credit Cards FAQ
I currently have a credit card I have had for ages that has no points or rewards.
How can I trade it in for a card that has a better reward program without damaging my credit card rating?
It is possible that you won’t have to change your card. Sometimes your current credit card provider can help you with this by offering a transfer onto one of the credit cards it already offers.
Your best course of action is to NOT trade in the card at all as that would mean closing the account. Keep it paid off and don’t close the account so it can continue to act as positive support for your credit rating. Simply apply for a new credit card that does have some rewards.
Even if you decide to close out the account, you should wait until after you’ve applied for the new credit card. Credit card companies use your credit score to determine the terms of your cardholder agreement and a better credit score means you will be offered better credit terms.