Difference between revisions of "Collect signup bonuses"
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| − | Unless you travel a lot for business, credit card signup bonuses are the only realistic path to lots of free travel | + | Unless you travel a lot for business, credit card signup bonuses are the only realistic path to lots of free travel. Instead of waiting years for points to accumulate through paid flights and stays, or day-to-day credit card spending, you can quickly earn multiple credit card bonuses with very little effort. There are dozens of cards that offer signup bonuses worth $500 each or more. |
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| − | If you want to frequently take advantage of free airplane tickets and hotel nights, the best strategy is to continuously sign up for new credit cards, meet their initial spending requirements, and collect their signup bonuses. Most people are surprised at the number of credit cards that banks are willing to give, and that | + | If you want to frequently take advantage of free airplane tickets and hotel nights, the best strategy is to continuously sign up for new credit cards, meet their initial spending requirements, and collect their signup bonuses. Most people are surprised at the number of credit cards that banks are willing to give, and that they can do this without hurting their credit rating. |
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| − | Typical bonuses for signing up for good travel and reward credit cards are very generous. | + | Typical bonuses for signing up for good travel and reward credit cards are very generous. Collecting the signup bonus for a typical hotel-branded credit card provides enough points for 2-3 nights at a nice downtown hotel in a typical city, 1 night at one of their fanciest hotels, or 8-20 nights at one of their less expensive hotels. The signup bonus on a typical airline credit card gives you enough points for 2 free economy tickets in the US, or a free economy ticket to Europe. |
| − | And it isn't very hard to signup for a dozen or more card every year | + | And it isn't very hard to signup for a dozen or more card every year, almost effortlessly earning hundreds of thousands of reward points per year. Probably the most valuable advice we have for most travelers is to start collecting credit card signup bonuses. |
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| + | Signing up for credit cards, just to collect their signup bonuses (or receive their travel benefits) is a good strategy for most people. Contrary to popular belief, it won't kill your credit rating—it is more likely to improve it. But, it is not for everyone. If getting a bunch of credit cards is going to cause you to spend more money, or you are too disorganized to avoid paying fees and interest, you'll need to avoid this approach, and focus on just getting good deals for airline and hotel reservations. For more detailed information, see our {{Link|Credit Cards 101}} guide. | ||
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Revision as of 15:10, 1 September 2018
Unless you travel a lot for business, credit card signup bonuses are the only realistic path to lots of free travel. Instead of waiting years for points to accumulate through paid flights and stays, or day-to-day credit card spending, you can quickly earn multiple credit card bonuses with very little effort. There are dozens of cards that offer signup bonuses worth $500 each or more.
If you want to frequently take advantage of free airplane tickets and hotel nights, the best strategy is to continuously sign up for new credit cards, meet their initial spending requirements, and collect their signup bonuses. Most people are surprised at the number of credit cards that banks are willing to give, and that they can do this without hurting their credit rating.
Typical bonuses for signing up for good travel and reward credit cards are very generous. Collecting the signup bonus for a typical hotel-branded credit card provides enough points for 2-3 nights at a nice downtown hotel in a typical city, 1 night at one of their fanciest hotels, or 8-20 nights at one of their less expensive hotels. The signup bonus on a typical airline credit card gives you enough points for 2 free economy tickets in the US, or a free economy ticket to Europe.
And it isn't very hard to signup for a dozen or more card every year, almost effortlessly earning hundreds of thousands of reward points per year. Probably the most valuable advice we have for most travelers is to start collecting credit card signup bonuses.
Signing up for credit cards, just to collect their signup bonuses (or receive their travel benefits) is a good strategy for most people. Contrary to popular belief, it won't kill your credit rating—it is more likely to improve it. But, it is not for everyone. If getting a bunch of credit cards is going to cause you to spend more money, or you are too disorganized to avoid paying fees and interest, you'll need to avoid this approach, and focus on just getting good deals for airline and hotel reservations. For more detailed information, see our Credit Cards 101 guide.
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