7 Reasons to Say Yes to a New Credit Card ...

There are good reasons to say yes to a new credit card. If you're trying to keep debt to a minimum, you may turn down every credit card offer you receive. This can certainly keep your budget on track, but there are seven reasons to say yes to a new credit card. For example:

1. You Need a Better Interest Rate

If you receive a credit card offer that features an interest rate around 13% or lower, this is one of several good reasons to say yes to a new credit card. A low rate is especially beneficial if you carry a balance from month-to-month. You can keep your minimum payments low and pay less interest.

2. You're Looking for a Rewards Credit Card

I absolutely love rewards credit cards. You can use your credit card for everyday purchases, such as gas, recreation and groceries, and earn points or cash back for every dollar. And once you have enough points, you can redeem for gift cards, statement credit or merchandise. If you're a big credit card user, it only makes sense to get a rewards card.

3. You Want to Transfer Your Balance

Some credit card companies aren't going to lower your interest rate, and if you're seeking a better rate, your best bet is to apply for a new credit card and transfer your balance. Look for credit cards that offer 0% interest on balance transfers and purchases for the first 12 to 18 months.

4. You're Looking to Rebuild or Build Credit

You'll need credit if you ever plan to buy a house. But getting credit with no credit is hard. You'll need to apply for credit cards specifically designed for people in your situation, such as secured credit cards or credit builder cards offered by many banks.

5. You Want to Diversify Your Credit

Maybe you have a store retail card and one major credit card. Not all retailers accept every credit card. For that matter, if you have a Discover or an American Express, you might apply for a Visa or MasterCard just to make sure you have a card that's accepted by the majority of retailers worldwide.

6. You Want to Get Rid of an Annual Fee

Annual fees are annoying and can range from $25 a year to over $100 a year, depending on the card and the perks associated with the card. If you're fed up with annual fees, get a no-frills credit card with no annual fee. These credit cards don't include a rewards program and have limited cardmember perks, but perfect if you only need a credit card for emergencies, and if you don't use credit on a regular basis.

7. You Want Cardmember Perks

A credit card isn't just another option at checkout. Plastic offers a variety of perks you may not realize. For example, some credit cards include rental car insurance as a perk, which means you don't have to purchase supplementary coverage at the counter when renting a car. And depending on the credit card, you might receive exclusive promotions and discounts, as well as concierge services and price protection.

Credit cards vary depending on the issuer, and even if you already have a credit card, it might not include benefits or perks you consider important. What are other reasons to consider getting a new credit card?