Reasons to dump it

Loyalty is often a good thing, but not in a relationship with your credit card. It’s often better to be like the “distracted boyfriend” from the internet meme and use your wandering eye to see if you can do better.

The credit card market is bubbling with useful and rewarding offers for many kinds of consumers and lifestyles. Yet, many Americans have the wrong card, and their loyalty is hurting them financially.

At least 1 in 5 credit card customers are carrying the wrong card, usually because fees or rewards are misaligned with their purchasing habits, J.D. Power has said in its annual U.S. Credit Card Satisfaction Study.

They’re in a dysfunctional relationship with their credit card, and it’s potentially costing them hundreds of dollars.

Changing circumstances can sour a love affair, even with a credit card.

Sometimes the card changes for the worse, with a higher annual fee or slashed benefits, for example. Sometimes the market changes, and the old standby doesn’t cut it anymore — 1% cash back is so 2013. And sometimes “it’s not you, it’s me.” The card is the same, but your needs and spending habits have evolved since you first hooked up. You’ve simply grown apart.

So, embrace credit card infidelity if you can score a better deal that either saves money — with a lower interest rate or long 0% period — or makes money with better rewards, whether that’s cash back, points or airline miles.

For example, if you charge $1,500 a month on your card, you’ll earn $540 more from a 2% cash back card than a 1% card over just three years.

Granted, some people shouldn’t have a credit card at all because it encourages them to get into debt — they just aren’t built for that type of commitment. But if you use cards properly, you’ll be able to find a

KEITH SRAKOCIC — THE ASSOCIATED PRESS The credit card market is bubbling with useful and rewarding offers for many kinds of consumers and lifestyles. Yet, many Americans have the wrong card, and their loyalty is hurting them financially.