If you are paying your balances in full and on time each month, your credit score will most likely increase over time! My score is 800+. It is normal to see little ups and downs, but as you use your card responsibly your score will remain healthy. Applying for a new card every 90 days is the safest way to keep things good and consistent with your credit score. You can sometimes apply for a new card more often than 90 days, but I don't recommend doing that repeatedly.
No, you aren't going to run out of cards to apply for because a lot of cards you can earn a bonus on more than once after a certain amount of time. Also, every once in a while, the card issuers will launch a brand new card! I've been doing this now for several years and I have not run out of cards to apply for.
The annual fee will always be worth paying the first year because you are earning the sign up bonus. After 1 year you can keep, downgrade or cancel the card but always make sure you ask for a retention offer before you cancel. *DO NOT cancel a card before the year mark! As soon as your annual fee hits, you will have 30 days to downgrade or cancel and get the annual fee reversed.
Chase has a rule that if you've opened 5 or more credit cards in the past 24 months, they will not approve you for any of their cards. This really matters because Chase has some of the best cards for points and miles! Grab my FREE beginners guide to learn about some of the best cards to help you get started on your journey. (Link guide)
Get my fave app and it will help a ton! This will keep track of your 5/24 status, when your annual fee is due, when you need to meet minimum spend and so much more! I also like to use Google Docs and Google Sheets to keep track of my itineraries and free night certificates expiration dates.
Absolutely not. You can go at your own pace and do what you are comfortable with. Any trip that costs less because of points and miles is a HUGE win!
Points are earned by flexible earning cards and hotel co-branded cards. Miles are earned from co-branded airline cards. Both are fantastic and have their time and place when earning and redeeming points and miles.
These are the questions that I get asked most frequently. If you have any other questions you would like answered you can message me on Instagram or email me at lorianne@loristravelpoints.com
Advertiser disclosure: Lori's Travel Points has partnered with CardRatings for our coverage of credit card products. Lori's Travel Points and CardRatings may receive a commission from card issuers.
Editorial Disclosure: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.