Switching credit cards - good or bad?

[Gary]

I'm switching credit cards before my next bill is due and am hoping someone can share their own experiences or any advice they may have. The new credit card company says that they will offer a 0 % deal but thats just a perk as far as i'm concerned. Even though my current credit card company will charge me to transfer my existing balance, the lower rate the newer company is offering is more attractive to us in the long term.

Apart from the switch 'penalty' is there anything else I should be aware of?

[carman]

Watch out for the interest rates after your 6 month introduction. Some credit card companies have a higher interest rate after the introductory offer has passed or a higher rate of interest on credit cards purchases.

Incidentally, my wife has the Marks and Spencer credit card and they have some good terms and a 17.9% APR. More details here from their website... Splash page:*Marks & Spencer

[attagirl]

I am not sure in the long run that switching credit card companies is really the right answer. You have to compare the one you want to change to and see if in the long run you are helping or hurting youself.

[APhillips86]

I don't think it is bad if you are getting a better deal. I do think though, that you need to be sure to pay off all payments owed on your current card before you switch over.

[FinD]

The thing is that it's getting harder and harder to get a credit card unless your credit rating is completely perfect - I was reading that 3.24 million new applications were rejected over the past 6 months: FinanceDaily - Poor Ratings for Denied Credit Card Applications

[financestrategy]

i dont think it'll make much of the difference as at the end of the day the credit policies of all the banks are more or less the same. what matters is the way you feel comfortable and the way you find it more convenient. rest there is nothing to worry.
good luck pal.

[finvik]

switching credit card is easy but it depends the reason why are you switching it. any ways let us forget the reason. but crux of the matter rremain 'A better Deal' go for it.
vik