frequently asked questions
Let's address the things everyone wants to know before jumping into the world of traveling on credit card points!
1
Will this hurt my credit score?
I recommend only doing this hobby if you are paying your credit card off every month. If so, then opening cards 90 days apart will only improve your score. This is partly due to increasing your credit limit available to you while keeping your utilization low. Also having a history of on time payments will also help. The hard credit checks don't last long and fall off fairly quickly. I sometimes open as close as 30 days apart but 90 days is a good rule of thumb for a healthy credit score. (Mine went up 25 points to 815 when I started doing this).
2
How often do you cancel cards?
Never close a card before 12 months. After the second annual fee hits, you can close, downgrade to a no-annual-fee card, ask for a retention offer or keep the card. As long as you do these things within 30 days of the annual annual fee hitting, you should get it refunded.
3
Do you ever run out of cards to open?
If you can find a way to qualify for a business card, you won't run out. This is because you can earn lots of bonuses again 24-48 months after you last earned the bonus.
4
How do I stay on top of everything? It feels overwhelming.
It's a lot to take in all at once. I recommend using the app from my getting started page and reading through my free Beginner's Guide. You can open cards slowly and also learn as you go collecting points. You don't need to know everything before you start.