Million Mile Secrets reader Kendra emails:
Can you address if you or others have run out of cards to apply for?
I applied for 10 personal and 6 business cards last year, and I’ve gotten denied for my recent applications with Capital One, Chase, and Barclays (already have 2). I can’t believe you can get 6 per quarter for years. I feel like we’re at a stopping point and have to give up on this game for 6 to 24 months. My husband thinks the game is over for us. We just started in June 2014.
I’m not going to call the Capital One reconsideration line for the denied credit below because it’s all true. I noticed you don’t promote Capital One cards on your website. Is it because they are difficult to get?
- Based on your credit report from Equifax, too few or no revolving accounts have a balance
- Based on your credit report from Trans Union, there are too many new revolving accounts
- Based on your application information, income is insufficient for requested credit
This can be common issue for folks who’ve been collecting miles and points for a long time. But you don’t see it so often with folks who are new to the game!
Being Denied for Credit Cards Can Be Frustrating, Even for Folks Who’ve Been Collecting Miles and Points for a Long Time
It can be tempting to apply for lots of cards when you 1st start collecting miles and points. But I’ll explain why this isn’t always a good idea!
Million Mile Secrets reader Michael emails:
I have a friend I’m trying to bring into the miles game. He has good credit (740), but only has … wait for it …. just ONE credit card, which he’s had for years. Only a $2,500 limit. 100% pay on time.
Is he ready to apply for the big bonuses? Or should he get a few more cards and a little more cumulative credit limit by starting with cards like the Chase Freedom, and other beginner cards?
Basically, is a 700+ score and only a single card enough to swing for the fences and apply for 4 or 5 cards with 50,000+ bonuses right out of the gate?
This is a great question! What should you do if you want to start applying for miles and points cards, but only have ONE long-established credit card currently (with a good credit score)?
What’s the Best Way to Start Applying for Miles & Points Credit Cards?
Update: A credit card offer in this post, may no longer be available, but check the Hot Deals for the latest offers!
If you’re thinking of applying for credit cards this month, there are some limited time offers you may want to consider. Several cards are offering an increased sign-up bonus, but they won’t be around for long!
These cards are all from different banks, so you could get all of them if you want. But remember, if you’re new, it’s best to start slow and just apply for 1 or 2 cards to start with. That way you’ll see what the impact is on your credit score.
Tick, Tock: Don’t Forget These Limited Time Offers!
Disclosure: Emily & I get a commission for links on the blog. You don’t have to use our links, but we’re very grateful when you do. We don’t write about all the credit cards available in the US, but only the ones which get us miles and points or cash back for Big Travel with Small Money!
I interviewed Andy from Military Money Manual and he mentioned that American Express waives his credit card fees under the Servicemembers Civil Relief Act. However, American Express isn’t required to do this.
American Express Waived Andy’s Annual Fees Because He’s Active Military
[Disclosure: Emily and I get a commission for some, but not all, of the links to the cards in this post. We let you know about the best offers even when they don’t pay us a commission! You don’t have to use our links, but we’re very grateful when you do!]
Million Mile Secrets reader Alex emails:
My parents-in-law recently moved to US and obtained Social Security Numbers and Green Cards. I want them to start a credit history, so they can enjoy sign-up bonuses as we are. Are there any credit cards they can apply for without credit history? Do you think I should add them as authorized users to my credit cards (will it help to obtain credit history)?
Alex’s in-laws will have a hard time getting approved for most miles and points credit cards because they don’t have a credit history. Banks are reluctant to lend to those with no credit history, including students and folks new to the US. But there are ways they can establish and build credit!
Alex Wants His In-Laws to Build Their Credit History so They Can Get Big Travel With Small Money!