This week’s Reader Questions focus around credit cards. Namely your top 5 credit card questions.
- “I want to take a trip, what’s the best card for me to open?”
- “How does opening cards affect my credit score?”
- “Which cards should I keep open? Which should I close?”
- “What is the long term approach to travel hacking?”
- “What do I do if I have bad credit?”
Today Jason joins me as we delve in-depth into these very commonly asked questions and unravel some of the mystery surrounding your credit score, what miles you should collect, and where to start in the travel hacking game.
Every Friday we’ll be answering reader questions, so if you have any questions please send them over! You can e-mail them to Trav@ExtraPackofPeanuts.com with “Podcast Question” in the subject line and your question might get answered on the air!
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In This Episode:
- How to find out what the most valuable points are.
- What “minimum” spend means.
- Strategy for figuring out what your miles are actually worth.
- How Credit cards affect your credit score.
- What the biggest determining factor is in your credit score.
- Which cards you should close, and which you should open.
- The difference between Airline Cards and Bank Rewards Cards.
- Some information on how to improve your credit.
and much more!
Links Discussed in This Episode:
- Frequent Flyer Bootcamp
- Credit Karma
- Credit Sesame
- How to use the Chase Ultimate Rewards Shopping Portal (and other shopping portals
- How to improve your credit
I Need Your Help
If we’ve shared any good advice with you this week please click “Tweet This” below to help others find the right backpack for their travels:
Questions about credit cards & #travel hacking? Today the @PackofPeanuts podcast answers your top 5 questions! –> http://bit.ly/1tOyy9k
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Thanks for answering the question, cuz!
Great answer, and I’m definitely eyeballing the Chase Sapphire Preferred next!
I also thought of another strategy (at least until I run out of really good cards). I am pretty focused on United now, but after I build my United miles up, while I am using those to travel the world, I move on to focusing on American miles.
So it goes build up miles for one airlines, use those miles while building up with another airlines, etc. That should get me through a few years of awesome travel!
@Dave- No problem, great question. Yeah, it helps to diversify. You never know what airline will have availability, so if you have enough in United and AA, you can pick and choose which works better. I definitely think you should work on getting enough in one first, but after that, try to diversify. Each mileage program has it’s pros and cons.