Personal CC optimization strategy question
 

I'm not a high roller, but I've a great credit score and have managed to attract the interest of credit card companies. So far I've simply been getting cards with large sign on bonuses and low minimum spends, with the intention of cancelling them later if necessary.

This means I have a bunch of cards with miles/points for each dollar spent, but not a lot of income/spending to earn miles in that way. Short of buying dollar coins, what's the best use for these cards? I happen to be able to pay rent by credit card, but that's only a few hundred dollars a month, so it won't result in even a domestic ticket quickly. I've been using rents payments to quickly hit minimum spend.

Thanks!

i've got the same problem. sign up for american airlines card with 75000 bonus miles. you need to spend either 1500 or 4000 within 6 months and you can use the bonus miles for travel. after just cancel the card

For cases where it's worth it to you to pay ~2.5% (to hit your spending thresholds, or because you're getting a rebate on gift cards, etc.):

http://www.flyertalk.com/forum/miles...-taxes-cc.html
(You may also want to look into pros and cons of overpaying your taxes just before you file.)

http://www.flyertalk.com/forum/other...smart-com.html
(For a utility bills, car payments, mortgages, etc., but only from certain companies.)

http://www.flyertalk.com/forum/miles...nt-online.html
(In your case, maybe you can pay your friends' rent.)

Do buy a small amount of coins ($250, or $500 if you want faster shipping) to cover your personal spending that you do in cash.

That should be all you need to get nearly 100% of your spending flowing through your credit cards.

Finally, one warning: my impression from reading various threads here, on fatwallet and elsewhere is that spending close to or more than you stated income on credit cards from any one issuer sometimes triggers financial review or other not always warranted adverse actions.

Buy coins from the mint, buy groceries and gas, buy items from Lowes, or HD adn then take them back and get cash...

Above all pay them off when they come due, and throw them away, or you will be in trouble fast.

1500 or 4000 is not a lot to spend in 6 months,on a CC. if you have the income to qualify for that card.

I see a CC bubble on the way...

Do not cancel or throw away your cards unless they have an annual fee. Keeping them in the drawer and using them once a year will improve your credit score. There is no penalty for too many lines open.

Of course, annual fees make it a moot point. Cancel those whenever you lose your use for them.

I'm in a similar situation. I've recently decided to go with the Hilton Surpass as my main card (hit the 40k spend for Diamond (coins will help) and save up for a fixed redemption). Then I have just been relying on signup bonuses for flights.

It is not getting me any status on airlines, but I currently don't fly enough to reach the different status tiers.

Go with one card as your main card, build up a credit line on that card, and just use the other signup bonsuses as extra.

"Buy coins from the mint, buy groceries and gas, buy items from Lowes, or HD adn then take them back and get cash...

Above all pay them off when they come due, and throw them away, or you will be in trouble fast.

1500 or 4000 is not a lot to spend in 6 months,on a CC. if you have the income to qualify for that card.

I see a CC bubble on the way... "

How do you buy items from Lowes or HD and get cash back on them?