Why Now May Be a Good Time to Get a New Credit Card

There's a reason why the summer of 2021 may be an ideal time to explore new credit card options

We all adjusted to the coronavirus pandemic in our own way; for me, much of 2020 and most of the first half of 2021 was spent at home or in the woods. I didn't go out at all, and if I saw friends, it was for a few brief moments in somebody's driveway.

But things are gearing up to be different this summer. Not only has my family already taken a short vacation, but we have plans to go on another getaway next month. We've also been going out to eat and making plans that don't involve having to stand six feet apart.

I'm sure I'm not the only person who's excited to get out more after a year of isolation. But if you're making big plans for the summer, then it pays to see about applying for a new credit card.

Why it makes sense to get a new credit card now

A lot of people are gearing up to travel for the first time in over a year, while others are starting to eat at restaurants and enjoy other forms of entertainment outside the house. The right credit card could make those plans more rewarding by giving you extra cash back. If you haven't applied for a credit card in quite some time, then it pays to do some research and open a new card before embarking on those plans.

Say your current rewards credit card offers you 2% cash back on restaurants and entertainment, but there's a different card out there that might reward you with 3% back. If you're planning to spend a lot in that category in the near term, then applying for that card could make sense.

Similarly, if you don't have a travel rewards card but are planning a bigger trip, it could really pay to sign up for a new card. Doing so might help you accrue extra air miles, points, or cash back. And you might enjoy other perks that save you money, like free checked baggage on airlines.

Because a lot of people cut back on spending during the pandemic due to wanting to stay safe at home, many consumers may not have had a need for a new credit card over the past 16 months. But now that things are changing, it pays to see what credit card options are available to you. It may be the case that there's a brand-new rewards program available that could work to your benefit, and so it pays to sign up now, before your spending increases.

See what's out there

Many people saved money during the pandemic by virtue of not having anywhere to go, and now, they're looking to make up for it by indulging. If you can afford to do so, there's nothing wrong with that. But it does pay to see if there's a credit card out there that will better reward you for the leisure spending you deserve to do. That way, you'll be able to do more of it.