4 credit card must haves
Dec 6, 2011, 11:27 am
#1
Original Poster
Join Date: Nov 2011
Location: Iowa
Posts: 745
4 credit card must haves
I'm about to delve into the world of credit card churning with the goal of getting airline miles.
What would you say are the first 4 credit cards that I NEED to get? Are there any that give a hefty signup bonus?
Is 4 cards too few to make a dent into earning miles. I'll do more if you think I need to.
Bear in mind that I put about $30k year on credit cards so I'm not going very far just on miles earned from purchases.
Thanks.
What would you say are the first 4 credit cards that I NEED to get? Are there any that give a hefty signup bonus?
Is 4 cards too few to make a dent into earning miles. I'll do more if you think I need to.
Bear in mind that I put about $30k year on credit cards so I'm not going very far just on miles earned from purchases.
Thanks.
Dec 6, 2011, 11:47 am
#2
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Signatures.
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 49,061
Dec 6, 2011, 12:06 pm
#3
Join Date: Jul 2011
Location: NYC
Posts: 511
Stick around here and you can find some good offers. The thread mentioned above is the best place to find the cards with the biggest signup bonuses.
Dec 6, 2011, 12:22 pm
#4
Join Date: Jul 2006
Location: LAX
Programs: AA EXP 1.5MM, Asiana Club Silver, KE Morning Calm, Hyatt Platinum, Amtrak Select
Posts: 7,161
With the rest of the world fastly moving to phase out the mag-stripe, my first concern would be would your US issued cards even work when you decide to cash in on your rewards miles and start traveling outside of the US. 
In that light, the presence of an EMV chip would be one of the top of my list when choosing a credit card these days. What's good is a credit card if you're stuck at a gas station in Italy because their pump machine doesn't accept the old magnetic stripe anymore?
In that light, the presence of an EMV chip would be one of the top of my list when choosing a credit card these days. What's good is a credit card if you're stuck at a gas station in Italy because their pump machine doesn't accept the old magnetic stripe anymore?
Dec 6, 2011, 12:32 pm
#5
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Signatures.
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 49,061
Dec 6, 2011, 1:20 pm
#6
Original Poster
Join Date: Nov 2011
Location: Iowa
Posts: 745
I'm not sure what importance or value a credit score has when churning but I just checked with a site called credit karma (I'm not endorsing the site, I may have just been scammed for all I know). I was at 805. I'd think it would be more important for the credit card issuer to know my credit score before approving or denying me than it is for me to know it.
Is this the wrong approach for churing?: apply for high bonus cards then fulfill their requirement to get the bonus miles, then cancel the card. Sounds more simple than it probably is though.
EDIT: I wonder if I should click on the Chase Sapphire Preferred ad for the 50k bonus miles :-)
Is this the wrong approach for churing?: apply for high bonus cards then fulfill their requirement to get the bonus miles, then cancel the card. Sounds more simple than it probably is though.
EDIT: I wonder if I should click on the Chase Sapphire Preferred ad for the 50k bonus miles :-)
Last edited by iowa guy; Dec 6, 2011 at 1:27 pm
Dec 6, 2011, 1:28 pm
#7
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Signatures.
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 49,061
http://www.myfico.com/CreditEducatio...YourScore.aspx
Each application generates one or more credit inquiry. Opening new accounts will lower the average age of your accounts, but may also increase your reported available credit and potentially improve your credit utilization ratio, but this can be undone if you close the accounts too soon. Etc
Dec 6, 2011, 1:30 pm
#8
Join Date: Dec 2011
Posts: 445
I'm not sure what importance or value a credit score has when churning but I just checked with a site called credit karma (I'm not endorsing the site, I may have just been scammed for all I know). I was at 805. I'd think it would be more important for the credit card issuer to know my credit score before approving or denying me than it is for me to know it.
Is this the wrong approach for churing?: apply for high bonus cards then fulfill their requirement to get the bonus miles, then cancel the card. Sounds more simple than it probably is though.
EDIT: I wonder if I should click on the Chase Sapphire Preferred ad for the 50k bonus miles :-)
Is this the wrong approach for churing?: apply for high bonus cards then fulfill their requirement to get the bonus miles, then cancel the card. Sounds more simple than it probably is though.
EDIT: I wonder if I should click on the Chase Sapphire Preferred ad for the 50k bonus miles :-)
exception would be if you have too many cards from the same issuer, limiting future options.
Dec 7, 2011, 4:51 pm
#9
Original Member
Join Date: May 1998
Posts: 2,509
I'm about to delve into the world of credit card churning with the goal of getting airline miles.
What would you say are the first 4 credit cards that I NEED to get? Are there any that give a hefty signup bonus?
Is 4 cards too few to make a dent into earning miles. I'll do more if you think I need to.
Bear in mind that I put about $30k year on credit cards so I'm not going very far just on miles earned from purchases.
Thanks.
What would you say are the first 4 credit cards that I NEED to get? Are there any that give a hefty signup bonus?
Is 4 cards too few to make a dent into earning miles. I'll do more if you think I need to.
Bear in mind that I put about $30k year on credit cards so I'm not going very far just on miles earned from purchases.
Thanks.
- Chase Sapphire Preferred card (On my Bank and Other Travel Cards page)
- INK Bold business card (same page, for more Ultimate Rewards points)
- All three of the American Airlines 50,000 mile offers (On my Annual Fee Cards page)
- The Starwood American Express card (On my Free Cards page)
Dec 9, 2011, 11:26 am
#10
Original Poster
Join Date: Nov 2011
Location: Iowa
Posts: 745
Thanks for all the info, I'm reading up. When it gets right down to it, I don't care what happens to my credit score. I just want to get miles until the credit cards companies no longer approve my applications.
Regarding the Chase Sapphire Preferred card, is this as good as time as any to apply for it or do they run even better deals than they offer at present?
If I should wait for a better sign up deal, I will. Thanks.
Regarding the Chase Sapphire Preferred card, is this as good as time as any to apply for it or do they run even better deals than they offer at present?
If I should wait for a better sign up deal, I will. Thanks.
Last edited by mia; Dec 10, 2011 at 2:33 pm Reason: Combine two consecutive posts
Dec 9, 2011, 4:05 pm
#11
Original Member
Join Date: May 1998
Posts: 2,509
Dec 10, 2011, 2:42 pm
#13
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Signatures.
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 49,061
There was a targeted 100,000 point offer for Sapphire Preferred in June 2011. There is, of course, no way to foresee if Chase will run this offer again or if you would happen to be targeted. My sense is that the market share battle between American Express and Chase has moved on from signup bonuses to benefits and reward tweaks. Both banks need to focus on retaining the accounts they attracted.