The small % you get on each purchase is crumbs, but the cookie is the big sign up bonus you can get. For the past several years I've been making about $2k/year from that, which is so much more than the % bonus that I don't know why anyone would care about getting 3% back rather than 2%. Like if you are that worried about your money, take the free $2k first.
Do you have a system or tool for finding card offers with signup bonuses?
Also (this is possibly common knowledge but) your credit score is negatively impacted not just by % of available credit utilized, but also by average age of credit accounts. If you're going to want a significant loan (eg a mortgage) in the forseeable future, something to keep in mind.
There's a bunch of newsletters and blogs advertising those changes, as credit card affiliate programs tend to be generous, especially for driving new sign-ups.
Not endorsing, but these are the ones my "newsletters" email account subscribes to:
I'm not him but realistically, its a mixture of popular blogs and churning credit card content on social media which is the name some people use for the practice of farming bonuses.
Credit score is impacted by the average age but tbh, I've gotten two mortgages while doing this and compared the numbers with my peers and it could be my situation is unusual but the "cost" was like .2% APR between those that don't churn in my RL group and those that do.
It has (in my experience with multiple mortgages) have a rate set by competent use of credit that does not lead you to have much debt but paying regularly in practice regardless of what the public credit score algo is telling people.
I use https://www.doctorofcredit.com/ , manual research (there's only so many credit card companies, doesn't take long to check their websites when you're looking for a new card), and also a decent amount of time the credit card companies send me pre-approved offers in the mail and sometimes they are actually pretty good. US Bank recently sent me one for a $750 bonus!
Overall Chase business cards seem to usually have the best deals, and they don't require you to have a "real" business to get them.
It does impact your credit score, so you are correct to be careful if you're going to get a mortgage soon. But in my experience, the effect can't be too big because my credit score is still excellent despite getting a new credit card every couple months.
Not if you focus on churning business credit cards. You will see a credit inquiry on your personal credit report. But that’s it. The actual credit card doesn’t show up on your credit report and the sign up bonuses are usually higher.
With Amex it’s even better. Once you have one credit card with them, they usually don’t even run a credit report. That means you can then sign up for business credit cards with no effect on your report.
That’s one of the first features we are prioritizing after we fix the bugs pointed out here! Also thinking of making our roadmap public of planned features but YES to answer your question yes we do have something set up to fetch the latest offers!
Yep, reddit is the place to go. For redeeming the points, check out r/awardtravel. Tip, do not use the credit card travel portal to book flights and hotels, you will get lowballed.
