Credit Cards. Be a Winner.
So one time, my credit card company tried to "upgrade" my Citi Forward card to a Citi ThankYou reward card. As a person who likes to take advantage of offers, I took a look at it. The main "advantage" of going to the new card is an anniversary bonus for loyalty customers which is 3% of all the points I earned throughout the year. Sounds great right? Nope. Think about that, that's only a .09% bonus overall. It like taxing the tax (it works with larger numbers I guess) but it won't affect me much. At least it's something but I would lose my bonus 5 extra bonus points on restaurants (including fast food) and entertainment; as a twenty-something, that's basically everything I spend my money on. So, at the end the only benefits of "upgrading" the card would have been 24 hour concierge service and the reward points don't expire; both of which don't really affect me since my card is a VISA Signature which includes the concierge service that I never use (WOOT!) and I use my rewards about every two year.
So the lesson here is to know what you currently have (credit cards, insurance, cell phone plans, etc.) and an offer isn't always the best thing to do.
Things you may not take advantage of currently but should always keep in mind with credit cards (your card may or may not have all these services):
If you are looking to get a credit card, don't always apply through the mail applications. Credit card companies usually have bonus reward deals for signing up online; some even include cash rewards for spending a certain amount in the first few months.
Auto Rental Insurance so you can decline to buy the car rental's insurance.
Traveling insurance including luggage, cancellations, injuries
Price Check- If you see a lower price for something you recently purchased, you may be able to get the price difference back.
Extended Warranty on most things you buy with the credit card. This may be the most useful and undervalued since most people don't even take advantage of the regular warranty. Return policies may be extended too.
Purchase Protection- Theft and at-fault protection for a certain number of days after date of purchase.
Cell Phone Insurance- Pay your phone bill with your credit card and you may be covered if your cell phone is stolen or damaged.
Special Opportunities- Chance to buy tickets to concerts before they go on sale to the public and entry to other "members only" events.
Remember, be smart about credit cards and you win. Don't be a loser. It pays to do research too.