Getting Started!
Let us start from the beginning!
You want to take more vacations? Or travel more comfortably on lie-flat seats, sleep in a Luxury Hotels?
Read through the basics of travel hacking below.
Are you Ready to Start?
-
A good credit score is usually considered to be in the range of 670 to 739, while an excellent credit score is typically 740 or higher. You will need a good-excellent credit score order to start this game.
If you need to raise your credit, you are not out of luck! You can play this game, but in a few months. You will need to start out with a cash back credit card. I recommend taking a free course on how to raise your credit score.
-
You pay your bills on time every month, and you don’t spend above your means! To stay organized, create a spreadsheet to keep track of the dates you opened a Credit Card, benefits of each card, and expirations dates.
You are ready, now what?
-
Travel credit cards are different than normal credit card. These cards offer more than just a line of credit; they come packed with exclusive perks like travel rewards, cash back, and luxurious amenities. Follow the best card list, go at a pace that is comfortable, and earn those Sign On Bonuses!
-
You can make your own spreadsheet, set reminders, and calendar events to stay organized. You can also make a profile in Travel Freely to keep track of credit card opening dates, annual fees, and Sign On Bonus expirations. I find it very helpful in the logistical side of travel hacking!
Move automated recurring spend to the SUB card. If its a small monthly amount, you can keep it on the card to keep it active. If its a large amount then, move it to the next SUB card.
Strategize!
-
Saving for Spring Break? Have kids in School? Have a bucket list?
Having a specific timeframe and destination in mind, you can open cards with a purpose. Traveling duing peak time to popular tourist destinations can cost a fortune. You may not get your whole travel or free, but you may offset the price to a reasonable budget! And have a trip of a lifetime! Visit our Resource Page for more info
-
Both Airline and Hotel loyalty programs quickly change and can devalue. So some people take on the Earn and Burn strategy.
Having a stockpile of points in multiple flexible currencies, is a great way to take advantage of ‘Unicorn’ Deals. Either mistake fares or flash sales come about, and you can jump on them, claiming great value!
-
Booking a domestic flight on an Airline Carrier that you take frequently, is an easy place to start with your first award redemption. Simple login to your loyalty program on the domestic airline website (United, Jetblue, American, Delta, etc.) And toggle the button that activates the Award Search.
Once you have that under your belt, you can venture into international travel, often booking on a partner airline! Check out the Resources page for more information.
-
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more.
-
Find our more info on our Resource Page. You can find Airline Transfer Sheets, Bank Transfer Sheets, and more tips on how to redeem.
Frequently Asked Questions
Does opening Credit Cards hurt my credit score?
No. While there might be a temporary negative impact due to the hard inquiry and potential decrease in the average age of accounts, the positive effects on credit utilization and credit mix can contribute to a healthier credit profile in the long run.
It's essential to manage your credit responsibly, pay your bills on time, and avoid accumulating high levels of debt to maintain or improve your credit score over time.
Whats the Chase 5/24 rule?
It is an unofficial rule that Chase Bank will only let you open 5 personal credit cards within a 24 month period. It doesn’t matter which bank has issued the credit card. For example, if you opened three American Express personal cards then started applying for Chase cards, they’d only approve you for two (within a 24 month period.)
This is why the best strategy is to start with Chase Credit Cards, and then move onto other banks.
What is 2 player mode?
This is strategy where you work with another individual, either a family member, spouse, or travel partner to maximize travel rewards.
You can refer each other back and forth for new credit card applications and gain additional points. It is a great way to maximize travel rewards.
What do you do with the credit cards after you reach the SUB?
It depends. Some credit cards are ‘worker’ cards and offer great benefits year after year. Others can find a nice place in your sock drawer. You have to think about the benefits of the card and your lifestyle, to see if it holds a place in your wallet after meeting the SUB.
Most times, it is the best strategy to keep the card open if the annual fee is $0. If the card has an annual fee, instead of closing the card, the best move would be to downgrade the card to a credit card in the same family that has no annual fee.
How often can I apply for a new credit card for a new Sign On Bonus?
Generally speaking, every 90 days from the same bank is the best velocity. Too many too fast is a red flag to a bank and can cause a denial.
What happens if I get denied for a Credit Card I applied for?
With most banks, you are out of luck. But with Chase, you have the option to call the reconsideration line and ask if they there are any options to approve you. Sometimes, it takes moving credit from one card to the new one. Or sometimes you just have to answer some questions about why you need the new line of credit.
One rule of thumb is don’t give up! If you call and are denied again, then call at least 3x more. Each person you talk to has the opportunity to approve you for the credit card and all call center reps are not equal!
What about all these annual fees?
Taking advantage of the perks and benefits of a credit card can be a strategic move to offset or even surpass the annual fee.
Many premium credit cards offer a suite of advantages, such as travel credits, cash back rewards, and exclusive discounts, which, when fully utilized, can substantially outweigh the cost of the annual fee. For example, The AmEx Platinum is often called a coupon book, offering far more credits than the hefty annual fee.
Each year when the annual fee hits, is a good time to weigh the value of the card. At that point, decide whether to close the card or downgrade to a card in the same family that has a $0 annual fee.
What is a retention offer?
If you have looked at your credit card and decided you do not want to keep it for another year. You have the option to call or chat with the bank and see if they have a retention offer available for you.
A credit card retention offer is a special incentive or deal provided by the credit card issuer to encourage you to keep your credit card account open and continue using the card.
Amex is the most popular provider of retention offers.
How can I meet my minimum spend to earn the signup bonus?
Put all of your expenses on one card. If working with a player 2, them have them also use the same card until you reach the bonus. One person can have the physical card, and one can add it to Apple Pay.
All regular spend i.e groceries, bills, everyday expenses need to run through the one card until you reach the SUB. Only pick a card that you are confident you can meet the minimum spend for.