I have always viewed credit cards as a financial tool. So it came as a bit of surprise when I realized that for many people credit cards are just as much a fashion statement as they are a financial tool. This truly hit home this weekend.

I was talking with a lady who has 17 different credit cards. When I asked why she had so many different credit cards, she replied that she “got bored with the design” on them and so she needed to get new cards to get new designs.

Her words left me speechless, but they really shouldn’t have. All you have to do is look at how credit cards are marketed to realize that there are a huge number of people who choose their credit card for the fashion statement it makes and not the financial advantages (or disadvantages) it may have.

The more I thought about it, I realized that credit cards as a fashion statement even occurs in my own household. My wife applied for her credit card for the sole reason of obtaining a credit card with the animation character she wanted on it. The interest rate made littel difference to her. She wanted a card that looked a certain way and that is the one she applied for and received.

Since we pay off our credit cards in full each month, my wife getting her card as a fashion statement has little negative effect on us. For someone that has 17 different credit cards, however, it could make a huge imapact, especially if the interest rates vary by quite a bit and the person doesn’t pay off their cards in full each month.

While I certainly don’t believe that people should pick their credit cards for the fashion statement it makes, I also know that for some like my wife, no reasoning is going to convince them otherwise. That being said, there may be a better way to pimp your credit card than to apply for a new one each time you’re ready for a new design.

There is a company that will actually let you buy credit card skins which you can place on your credit card to give it a new look whenever you want. While my wife described their offering as “unimaginative and boring” when I showed her the site, I’m sure that you will see more companies offering credit card skins with a wider variety of designs in the future. If your credit card has to make a fashion statement, these seem like a much better alternative than to get a new credit card every time you get bored with the design…