I know that is a big dazzling post title but it’s so true! I’ve literally earned millions of miles myself from my credit card sign up bonuses for years. I’m not just saying that to brag but my desire is to show you the power and rewards your good credit can bring you. Good credit is an asset which can be used as a tool to travel for free! I’ve been doing it for years and have show many others how too as well. I love it every time one of my readers sends me a little note about where they are going or have been because they’ve learned how to use their credit as an asset. It just makes me smile so big!
I generally apply for four or five credit cards at one time. I do this every quarter; basically 4 times a year and earn thousands and millions of miles to enable our family to travel the world for free. This is called an “App-o-rama” or a “App Party” in the mile and point world! It’s super fun and exciting. It really gets my heart rate up every time. I love instant approvals. I’m always hoping for them and knowing well that I could be battling on the phone for an approval with a tough credit analyst. They are always asking why I want this card and telling me I have a lot of inquires on my report which is the only negative thing on my report. The outcome is always very rewarding but sometimes it’s more fun than others.
Well, now some of you who have no experience with this are probably concerned I’m wrecking my credit. On the contrary, from years of experience my credit only soars. Applications will take an initial hit of 2-3 points per application on your credit report which is nothing in the scope of a credit score. In the long term, your credit will increase upwards in the next 2-3 months jumping back to where it was and even higher because of the new credit lines you’ve secured. I also have no debt except for our mortgage. I use my credit cards as tools for earning and never leave a balance unpaid. I pay all my charges weekly online and recommend you do the same. Only use your credit card for expenses you have cash in the bank to pay. Basically, I use credit cards like a debit card. I currently have excellent credit. My scores: Experian 797, Transunion 781 and Equifax 775. You can check out my Guru badge here.
I take great pride in having no debt and using credit cards as financial tools and not crutches that drag you down into a burden of debt. I regularly monitor my credit with Credit Sesame and Credit Karma. Both of these sites are excellent completely free services which do not require a credit card and give you the best monitoring services and alerts out there. If you aren’t monitoring your credit, you should sign up for their free service. If you want your full credit report, check out some of the “Free Trial” services on my site here. Just be sure to cancel within the time frame to avoid paying the monthly fee. Credit Sesame and Credit Karma are excellent for monthly monitoring but do not give you a full detailed credit report. I suggest reviewing you full credit report at least a few times a year.
Here is a chart I’ve put together with a big score you could do for your family. There are so many credit card bonuses out there it’s hard to say which are the best for your family. It greatly depends on your travel goals; where you want to go, what type of hotels you want to stay in and what activities you’d like to do. If you’d like help putting together a list of the best credit card bonuses which would achieve your travel goals, feel free to email me. I’d be happy to work up a personalized plan for you. The chart below is just a example of a few cards that are good options for families but you could put any combination of cards together for a big score.
BONUS POINTS OFFERED
|TOTAL FAMILY EARNINGS|
($3,000 each card)
($5,000 each card)
$200 Cash (20,000 points) Limited Time Offer
($500 each card)
| 5,000 points|
($2,500 each card
($2,500 each card)
| 10,000 miles|
($5,000 each card)
|TOTAL POINTS|| |
NOT INSTANTLY APPROVED
If you are not instantly approved which happens to me often too. Don’t wait around for a letter to come in the mail to find out if you are approved. Jump on the phone and call the appropriate reconsideration phone number and get an answer. You want to speak to a decision maker which is a credit analyst. You can find all the best contact phone numbers listed on the Miles Momma site under “Credit Resources”here.
Chase’s typical message:
Thank you for submitting a credit card application to Chase.
|Here’s what you can expect next:|
|We’ll let you know of our decision through U.S. mail within the next 30 days. Please don’t resubmit|
this application while waiting for our decision.
|If we approve your application, we’ll send your card and other important information to you by U.S |
mail. Once you receive your card, call the number on the sticker right away so you can take
advantage of everything your card has to offer.
|If we don’t approve your application, we’ll send you a letter explaining why.|
Don’t settle for this, get your answer now! And don’t take “No” for an answer. Let the credit analyst know why you are a good credit risk and why the bank wants your business. If your credit score is above 750 you should generally be approved for any credit card you want. If you are in the 720 – 750 is should be approved for most cards. If you fall below 700, you may need to start with easier credit cards like Chase Freedom ($200 bonus), Discover it, Barclay Rewards Mastercard, NFL Extra Points which all have general approvals of a score under 700. You can check the average approval scores on all the top rewards credit cards here on my affiliate site Credit Karma (click on banner to see all top cards)
Need help meeting those minimum spends. No worries! There are so many ways, it’s endless. Check out my massive list here and learn about many “creative spending” tools and how to use them in these articles here.
Most importantly remember if you need help or advice, I’m just an email away. I’d be happy to pass along any knowledge I have. Feel free to pick my brain anytime.