Have a travel related question? Post it here, and I’ll do my best to answer it as quickly as possible.
While anyone can comment on regular blog post, registration is required in order to post a question in this space. Creating your account is free, and you'll be able to see when your question is answered, as well as like comments from other users. And of course, you'll earn status points for offering helpful answers!
This space is intended to be more of a community as well, so please jump in and share tips!
How do you deal with opening multiple credit cards every year while maximizing point rack up?
I’m pretty new to this and i’ve made 3 new credit cards in the last couple months.
I’ve read on your post that you open about a dozen new credit cards every year for sign-up bonus, which i know that each card must have minimum spend requirement usually for the first 3 months. However, i’ve also read that you always use your credit card with how to maximize miles/points rack up in mind at the same time. (Like which card gives you more points for which category)
Are these two strategy possible at the same time assuming that you open a new card on monthly-basis?
For me, i know amex gold gives me x2 points for gas/supermarket category but i have to use chase sapphire to meet the $4000 spend requirement.
You should be dealing with this issue every single month. Is it possible for you because your spending is relatively much larger as a business man than an average person like me?
Share with me your thoughts. Thanks.
Most people who open credit cards regularly focus all their spend on earning the credit card bonuses because that’s makes the most sense. If you use the example of a card that earns 50,000 points for $3000 in spend, you are earning a return of more than 16 points/$. That’s much more attractive than the double or triple points that a card might offer for ongoing spend.
I think you can assume that Lucky’s yearly spending are high enough that this is a problem.
What you could consider is manufactured spending to meet requirements for new cards, perhaps [USER=184]@MidSouth Skier[/USER] can help you with more information about that when she has time?
Sure, be happy to help if needed. Those of us that do mid-to-high manufactured spending can knock out those spending requirements in a week or two, so it doesn’t typically impact our spending for bonus categories. If this is something you’re interested in, I’d check out the Frequent Miler’s blog and the forum section of Travel Codex. I’ve learned a lot from these folks myself!