Opening new credit cards?

[simpsongal]

How often are y'all opening new cards?  I've had my Chase Sapphire preferred for a couple years now, DH opened one too and got the bonus (I got the referral).  I've spent down a lot of the points, should I pivot back to a Venture card?  I had one of those a few years ago, I guess I volley between them. 

[quesyrah]

Is this something we should be doing often? We only have 1 credit card.

[simpsongal]

Apr 12, 2023 10:33:01 GMT -5 quesyrah said:

Is this something we should be doing often? We only have 1 credit card.

Some people go all out churning cards to maximize points.  I have a friends who has been around the world several times b/c he does this.  I'm not hard core, but always looking to maximize available benefits. 


Card wise, I have a 5% category card from citi and chase sapphire, I use both depending on the 5% categories for the quarter.  DH has the same arrangement, separate accounts (different 5% card - discover). 

[steamboat185]

We tend to open 1-2 a year per person, but we use the points a lot for travel. I have the Venture card and it is ok, but not my favorite. It really depends on what your goals for the points are.

[dr.girlfriend]

I'm too lazy to really maximize my credit card stuff. I finally got the card that gives you gift certificates for TJ Maxx / Marshall's / Home Goods but that's pretty much it.

[fortnightlily]

I feel like I have to get a new card issued for my Chase Freedom like twice a year now because of fraudulent charges, but that's not what you asked

Until recently I've long just had two cards - a Chase Freedom Visa (my primary card) and a Capital One Quicksilver MasterCard (my backup card, my first ever that I opened with my dad to start my credit history as a young adult). And my DH has two similarly - a Citi Costco Visa as his primary and then I think he has a Citi MasterCard that he's had forever and rarely uses.

But a few months ago after reading about it on here and after deciding we want to start traveling more I opened a Chase Sapphire and will make that my primary card, though I'm keeping the Freedom because why not and the 5% categories. So I'll see soon how valuable that sign-up bonus turns out to be.

I don't think I plan to churn, though. Too much work.

[quesyrah]

Apr 12, 2023 10:41:07 GMT -5 simpsongal said:

Apr 12, 2023 10:33:01 GMT -5 quesyrah said:

Is this something we should be doing often? We only have 1 credit card.

Some people go all out churning cards to maximize points.  I have a friends who has been around the world several times b/c he does this.  I'm not hard core, but always looking to maximize available benefits. 


Card wise, I have a 5% category card from citi and chase sapphire, I use both depending on the 5% categories for the quarter.  DH has the same arrangement, separate accounts (different 5% card - discover). 

Oh dang, that is so cool!

Our card gets 2% back on all purchases but often has special offers for higher %. We really don’t spend enough to get anything cool though.

(Not because we’re sanctimonious about money lol. Because we don’t make a ton).

[ssmjlm]

I change cards when my goals change.

Building a house - got a card that gave us good points for things like gift cards for when we moved in.

Spending all money on amazon - got an amazon card for 5% back on prime purchases

Traveling more - just went to Capital One Venture X so I can get a travel credit and then erase our cruise purchase with the points

It's probably on a 3ish year schedule for when we change. DH is not into credit card churning, so he just uses the 1 card I give him for all of his purchases.

[midwestmama]

I would say we're similar to ssmjlm - we look at changing cards when our goals/needs change.

We used to have a Chase Disney cc, but now our kids are older and we're not planning to go to Disney again anytime soon, so we switched to a Chase Freedom card for broader rewards. We had a Citi rewards card but closed that and switched to Capital One Quicksilver because cash back is an option, as well as no foreign transaction fees. (Now that I am going on some international trips for work, it's nice to have a card where I won't get charged foreign transaction fees when I buy souvenirs.)

[cherry1111]

I just took a course on maximizing CC sign up bonuses and got my Chase Sapphire Preferred in branch 2 days ago (they are running a better sign up deal in person vs online for the next few days). The course had basic rules to follow for how often to open new cards based on which cards you’re opening (for example chase will only approve you if you’ve opened less than 5 new cards in the last 24 months). If you really want to maximize the bonuses it looks like you’re practically opening a new card each time you’ve met the sign up bonus for the previous card. I’m not sure how hard core I can be with it but I’m going to give it a shot. The course was 10x travel for anyone interested.

We got the Capital One Venture X last year and though it’s got a hefty annual fee, you get some perks that basically cover the fee each year. Like $300 back on travel booked through the portal. Also use of the Capital One lounge. The only one open at this time is at DFW which happens to be our home airport. It’s amazing and we always show up early enough for a couple drinks and some food before our flight. They are opening another in Denver and one in DC (Dulles) later this year.

[sadlebred]

I'm not a big spender. The last one I got was about 2 years ago--a 2% cash back card. I maximize rewards on the cards I have by looking at the quarterly offers and using the card with the highest reward for each type of purchase.

[TamiTaylor]

Apr 14, 2023 7:46:20 GMT -5 cherry1111 said:

I just took a course on maximizing CC sign up bonuses and got my Chase Sapphire Preferred in branch 2 days ago (they are running a better sign up deal in person vs online for the next few days). The course had basic rules to follow for how often to open new cards based on which cards you’re opening (for example chase will only approve you if you’ve opened less than 5 new cards in the last 24 months). If you really want to maximize the bonuses it looks like you’re practically opening a new card each time you’ve met the sign up bonus for the previous card. I’m not sure how hard core I can be with it but I’m going to give it a shot. The course was 10x travel for anyone interested.

We got the Capital One Venture X last year and though it’s got a hefty annual fee, you get some perks that basically cover the fee each year. Like $300 back on travel booked through the portal. Also use of the Capital One lounge. The only one open at this time is at DFW which happens to be our home airport. It’s amazing and we always show up early enough for a couple drinks and some food before our flight. They are opening another in Denver and one in DC (Dulles) later this year.

What was this course?

[lishie]

Apr 12, 2023 7:48:34 GMT -5 simpsongal said:

How often are y'all opening new cards?  I've had my Chase Sapphire preferred for a couple years now, DH opened one too and got the bonus (I got the referral).  I've spent down a lot of the points, should I pivot back to a Venture card?  I had one of those a few years ago, I guess I volley between them. 

If it's been more than 4 years since your received the sign up bonus on the preferred, I'd recommend downgrading it to a freedom, waiting a few weeks, and then having your DH refer you for another sapphire preferred. 

You can do this every four years, so I'd do the same when your DH hits 4 years since bonus. 

I love the chase points. 

But if you are interested in the Venture, I'd go for one of those before getting another chase (as long as you're not at the point of 5 cards in 24 months) because Capital 1 is much more credit inquiry sensitive than Chase is. 

The Venture x fee is much higher than the venture, but with the $300 travel portal credit they give, along with the priority pass (plus the few Cap 1 lounges) and annual miles bonus, I'd recommend that over the venture. 

[cherry1111]

Apr 17, 2023 23:08:43 GMT -5 TamiTaylor said:

Apr 14, 2023 7:46:20 GMT -5 cherry1111 said:

I just took a course on maximizing CC sign up bonuses and got my Chase Sapphire Preferred in branch 2 days ago (they are running a better sign up deal in person vs online for the next few days). The course had basic rules to follow for how often to open new cards based on which cards you’re opening (for example chase will only approve you if you’ve opened less than 5 new cards in the last 24 months). If you really want to maximize the bonuses it looks like you’re practically opening a new card each time you’ve met the sign up bonus for the previous card. I’m not sure how hard core I can be with it but I’m going to give it a shot. The course was 10x travel for anyone interested.

We got the Capital One Venture X last year and though it’s got a hefty annual fee, you get some perks that basically cover the fee each year. Like $300 back on travel booked through the portal. Also use of the Capital One lounge. The only one open at this time is at DFW which happens to be our home airport. It’s amazing and we always show up early enough for a couple drinks and some food before our flight. They are opening another in Denver and one in DC (Dulles) later this year.

What was this course?

learn.10xtravel.com/

[shaynaatl]

We open one every 2 yrs or so. We need to look into doing more churning though. I'm actually in the market now for a new card, but waiting for a killer bonus on something.

[simpsongal]

Apr 19, 2023 7:19:43 GMT -5 shaynaatl said:

We open one every 2 yrs or so. We need to look into doing more churning though. I'm actually in the market now for a new card, but waiting for a killer bonus on something.

Yeah, they're sort of underwhelming right now.

I keep hoping for a promotional APR or something too.  I might start another thread about that.

[fortnightlily]

Apr 19, 2023 7:47:14 GMT -5 simpsongal said:

Apr 19, 2023 7:19:43 GMT -5 shaynaatl said:

We open one every 2 yrs or so. We need to look into doing more churning though. I'm actually in the market now for a new card, but waiting for a killer bonus on something.

Yeah, they're sort of underwhelming right now.

I keep hoping for a promotional APR or something too.  I might start another thread about that.

I thought part of the philosophy of churning was that you always pay it off every month, in which case the APR wouldn't matter?

[simpsongal]

Apr 19, 2023 8:53:18 GMT -5 fortnightlily said:

Apr 19, 2023 7:47:14 GMT -5 simpsongal said:

Yeah, they're sort of underwhelming right now.

I keep hoping for a promotional APR or something too.  I might start another thread about that.

I thought part of the philosophy of churning was that you always pay it off every month, in which case the APR wouldn't matter?

Oh yes, sorry I'm mixing goals.  I want to do another major reno and I'm curious if there's some low interest line of credit available.  

[cherry1111]

Chase Sapphire Preferred just increased to 80k points on referral. If you have one in your name you can refer your spouse. They get an 80k sign up bonus after spending $4k in 4 months and you get a 15k referral bonus.

[expatjen]

Apr 19, 2023 14:01:46 GMT -5 cherry1111 said:

Chase Sapphire Preferred just increased to 80k points on referral. If you have one in your name you can refer your spouse. They get an 80k sign up bonus after spending $4k in 4 months and you get a 15k referral bonus.

anyone have a referral code for this? I’ve been on the fence about the card, but this is a great sign up bonus!

[fortnightlily]

Apr 20, 2023 6:08:05 GMT -5 expatjen said:

Apr 19, 2023 14:01:46 GMT -5 cherry1111 said:

Chase Sapphire Preferred just increased to 80k points on referral. If you have one in your name you can refer your spouse. They get an 80k sign up bonus after spending $4k in 4 months and you get a 15k referral bonus.

anyone have a referral code for this? I’ve been on the fence about the card, but this is a great sign up bonus!

I do! Will PM you.

[cherry1111]

Apr 20, 2023 6:08:05 GMT -5 expatjen said:

Apr 19, 2023 14:01:46 GMT -5 cherry1111 said:

Chase Sapphire Preferred just increased to 80k points on referral. If you have one in your name you can refer your spouse. They get an 80k sign up bonus after spending $4k in 4 months and you get a 15k referral bonus.

anyone have a referral code for this? I’ve been on the fence about the card, but this is a great sign up bonus!

FYI if you open in branch you will get 90k points right now.

[fortnightlily]

Apr 19, 2023 14:01:46 GMT -5 cherry1111 said:

Chase Sapphire Preferred just increased to 80k points on referral. If you have one in your name you can refer your spouse. They get an 80k sign up bonus after spending $4k in 4 months and you get a 15k referral bonus.

I only signed up for my first travel card - which happened to be the Chase Sapphire Preferred a few months ago. I should be getting my 60k sign up bonus points on my next statement. This is tempting, but I don't know if I can convince DH. I don't think we're ready to be heavy duty churners, but it does seem short-sighted to leave this on the table as a one-time thing now that we really want to travel more post-Covid with DS being older.  *strokes chin*.

I think part of it is because we don't really know yet how well the points translate to savings.

[cherry1111]

Apr 20, 2023 9:03:39 GMT -5 fortnightlily said:

Apr 19, 2023 14:01:46 GMT -5 cherry1111 said:

Chase Sapphire Preferred just increased to 80k points on referral. If you have one in your name you can refer your spouse. They get an 80k sign up bonus after spending $4k in 4 months and you get a 15k referral bonus.

I only signed up for my first travel card - which happened to be the Chase Sapphire Preferred a few months ago. I should be getting my 60k sign up bonus points on my next statement. This is tempting, but I don't know if I can convince DH. I don't think we're ready to be heavy duty churners, but it does seem short-sighted to leave this on the table as a one-time thing now that we really want to travel more post-Covid with DS being older.  *strokes chin*.

I think part of it is because we don't really know yet how well the points translate to savings.

I am totally new to this myself but check out the 10x travel link I posted above. They tell you all about the redemptions and transfer partners and how to see what points can get you.

[Deleted]

Apr 20, 2023 9:03:39 GMT -5 fortnightlily said:

Apr 19, 2023 14:01:46 GMT -5 cherry1111 said:

Chase Sapphire Preferred just increased to 80k points on referral. If you have one in your name you can refer your spouse. They get an 80k sign up bonus after spending $4k in 4 months and you get a 15k referral bonus.

I only signed up for my first travel card - which happened to be the Chase Sapphire Preferred a few months ago. I should be getting my 60k sign up bonus points on my next statement. This is tempting, but I don't know if I can convince DH. I don't think we're ready to be heavy duty churners, but it does seem short-sighted to leave this on the table as a one-time thing now that we really want to travel more post-Covid with DS being older.  *strokes chin*.

I think part of it is because we don't really know yet how well the points translate to savings.

The chase points are great. They transfer 1:1 to United and southwest so if you are able to use either of those airlines it’s absolutely fabulous. We have been using chase points mixed with United and southwest miles for over a decade now and basically haven’t paid for flights in that time for our family of 5. We have went to Hawaii 3x, Costa Rica 2x, the UK, Croatia, Portugal, Belize, many domestic destinations, and in a few weeks will go to Thailand. And we have only paid for taxes on all of those flights. The savings have been incredible for us. We are getting thousands of dollars in flights for free every year. Otherwise the flight costs would eat our entire travel budget and we’d be unable to go anywhere.

[madringal]

I would say it has been 10+ years since we applied for a new CC. We rarely use the ones we have.

[woowoo]

We have opened three new credit cards this year, specifically for the travel points. Before this though, it had been a few years.

One is an airline card that has direct flight options from our city to the desired destination for a vacation later this year.

Another is a hotel brand card for a hotel company we both work for. The bonus reward offer was substantial enough that we signed up anyway and now our upcoming vacation will be 4 nights on our company discount (the only days it was available over that time frame) then 3 nights on points. We cannot use the brand card for our corporate travel, but we can earn points and status so it's a pro all around.

[fortnightlily]

Apr 20, 2023 11:25:51 GMT -5 @mrsgreeko said:

Apr 20, 2023 9:03:39 GMT -5 fortnightlily said:

I only signed up for my first travel card - which happened to be the Chase Sapphire Preferred a few months ago. I should be getting my 60k sign up bonus points on my next statement. This is tempting, but I don't know if I can convince DH. I don't think we're ready to be heavy duty churners, but it does seem short-sighted to leave this on the table as a one-time thing now that we really want to travel more post-Covid with DS being older.  *strokes chin*.

I think part of it is because we don't really know yet how well the points translate to savings.

The chase points are great. They transfer 1:1 to United and southwest so if you are able to use either of those airlines it’s absolutely fabulous. We have been using chase points mixed with United and southwest miles for over a decade now and basically haven’t paid for flights in that time for our family of 5. We have went to Hawaii 3x, Costa Rica 2x, the UK, Croatia, Portugal, Belize, many domestic destinations, and in a few weeks will go to Thailand. And we have only paid for taxes on all of those flights. The savings have been incredible for us. We are getting thousands of dollars in flights for free every year. Otherwise the flight costs would eat our entire travel budget and we’d be unable to go anywhere.

This is hard for me to fathom, but maybe just because it feels like airfares are crazy right now. My 60k sign-up bonus feels like it would cover roundtrip airfare for 1 of us, but not even our entire family of 3 for a single international trip.

[Deleted]

Apr 24, 2023 16:05:25 GMT -5 fortnightlily said:

Apr 20, 2023 11:25:51 GMT -5 @mrsgreeko said:

The chase points are great. They transfer 1:1 to United and southwest so if you are able to use either of those airlines it’s absolutely fabulous. We have been using chase points mixed with United and southwest miles for over a decade now and basically haven’t paid for flights in that time for our family of 5. We have went to Hawaii 3x, Costa Rica 2x, the UK, Croatia, Portugal, Belize, many domestic destinations, and in a few weeks will go to Thailand. And we have only paid for taxes on all of those flights. The savings have been incredible for us. We are getting thousands of dollars in flights for free every year. Otherwise the flight costs would eat our entire travel budget and we’d be unable to go anywhere.

This is hard for me to fathom, but maybe just because it feels like airfares are crazy right now. My 60k sign-up bonus feels like it would cover roundtrip airfare for 1 of us, but not even our entire family of 3 for a single international trip.

60k gets you round trip to Europe for one person on United. But we are getting multiple bonuses not just one. So I open a card, get an 80k bonus, DH opens a card that I refer him to and I get a 20k referral bonus and he gets 80k. Then I open a different card with a 100k bonus, etc etc etc. plus with spending it adds up quickly. Like I said I’ve been doing it for over a decade so I’m really good at it. And I know when to book (330 days in advance) and I won’t pay over the saver rate for fares. So 30-35k per way to Europe on United, 20k per way to Hawaii, 17.5k per way to Central America or the Caribbean, etc. it’s a matter of knowing what the routes bottoms are.

[fryjack2]

@mrsgreeko, I;d love to hear more about the 330 days in advance booking if you don't mind sharing.

Not really for credit card churning- we just have the double cash back one and have talked about getting the CSR forever and neither of us have sat down to fill out an app-but for travel planning.