Is It Better to Apply for New Credit Cards or Accept Offers to Upgrade Existing Ones?

Published By: Manoj Prasad

Cobranded travel cards often come in multiple tiers for different users

Issuers frequently encourage upgrades to premium versions

Upgrades avoid new credit checks that apply with fresh applications

Keeping old accounts open helps your credit history length

Upgrade offers come with lower bonuses than new applications

Earning 50,000+ miles is often worth a minor credit check

Consider getting the premium card for the bonus, then accept a basic upgrade

Or, apply for premium, enjoy perks, then downgrade to no-fee version

Compare bonuses and weigh pros and cons for your situation