I’m 19 with good credit and have had a credit card since I was around 10, thanks to my mom. Last year, I got a travel credit card through Navy Fed because I was traveling a lot and earning points. Now, I’m not traveling much and I’m wondering if I should switch to a Navy Fed cash back card instead. Is it a bad idea to cancel the travel card and get a new one? Will it hurt my credit? Any advice?
Does the card have an annual fee?
If not, you could just leave it open and get a new card.
Vernon said:
Does the card have an annual fee?
If not, you could just leave it open and get a new card.
Yeah, it’s $49 for the travel card, but the one I’m looking at has no annual fee.
You could ask Navy Federal to downgrade your current card to something like their More Rewards or Cash Rewards card. That way, you keep your credit history intact.
Instead of canceling it, try to switch your current card to a cash back card.
You could change it to the Amex More Rewards card, which gives 3%. Just call Navy Fed through the app—they’re available 24/7. You’ve already got a solid card! Many people would love to have the Navy Fed Flagship credit card.