Annual Credit Card ChecklistThere are a few things you should do each year to stay on top of your credit cards. We’ll go through some of the action steps to do at least once per year to ensure you’re always getting the best deals and rewards.

Here’s a checklist complete with everything you need to evaluate each year with every credit card in your wallet:

1. Annual fees – Always make sure to check your credit card’s annual fee. As more cards come online with annual fees, you’ll want to be certain that you don’t pay a fee unnecessarily. If you have a credit card with a fee, talk to your credit card company about reducing or waiving it.

2. Interest rates – You can get a lower rate on your credit card just for asking for it. Check back with your credit card company each year to negotiate a lower rate if you currently keep a balance. If you pay your card off in full each month, you can skip this step.

3. Rewards – Your credit card company might have a better line of cards with higher rewards. See about switching credit cards to get better rewards when available. In this competitive credit card market, companies will do whatever it takes to keep a customer.

4. Credit limits – You can request a credit limit increase once every six months. That might be overkill for most companies, which will only seriously consider a higher credit line for customers once per year. Check in to see if your income or payment history warrants a higher credit line, which will reduce your utilization rate and boost your credit score.

5. Privacy policy – You should receive a privacy policy in the mail each year. If you want to keep your information private, be sure to respond to ask that the company withhold itself from sharing your financial information with other companies.

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