Always Research before Applying
My phone rang yesterday with news of someone who decided to apply for a new card because my applications were going well. Before applying for anything make sure you are able to meet the minimum spend for the bonus and that you are getting the absolute best offer out there. I am NOT suggesting you sign up for any cards with bonuses you come across. Do your research and get the best bonus possible!!
My phone call was about the Delta Skymiles American Express. They were excited about a $50 statement credit. And while yes, that is exciting – they weren’t planning on using the card to spend $500 and get 30,000 Skymiles! When I mentioned that all they needed to do was put their normal charges on that card instead of their debit card they admitted they were nervous about credit. I treat my credit cards like my debit card. If the money is there, great I will use it. If not, I will wait until it is. DO NOT spend money you do not have. If you do, interest charges outweigh any benefits of these cards and you are no longer traveling for cheap. If you aren’t sure you can do that, then don’t sign up. There’s too much risk.
While this particular sign-up was not bad for the individual, this card has had better offers in the past – some with more miles (50,000 or 70,000) and/or a $100 statement credit. This was the card that I mentioned first peaked my interest in traveling this way, but I am waiting for one of the better offers to apply myself. Make sure you’re getting the most out of each application, research before applying.