Is your stellar credit rating getting you free travel?
I just had a conversation with a friend who was concerned getting 2 credit cards within a month and what that would do to her “stellar” credit rating.
This person has had the SAME 2 CARDS for years and has received nothing but a few hundred in free groceries in that time. That’s terrible.
“Ummm, that’s pretty good actually” you may say.
The sign up bonus alone on the cards I mention on my “How do you do this” page is worth more than a few hundred in groceries – not to mention the continual points you would get from spending.
Why are people “faithful” to a certain card for years and get nothing back?
To keep their “stellar” credit?
I did a post a couple of months ago about this and it’s very true.
Your credit will dip when you get a card. Google it.
Is thousands upon thousands of dollars in free travel worth it when you credit score “dips” a bit for a month or two?
Think about it. Does a dip in your credit score really affect anything? (unless it is already low and you are going for a car loan/mortgage etc)
My credit score has ranged in the 730-780 range since I started this “hobby” over 6 years ago.
My free flights/hotels/car rentals have been in the multiple thousands of dollars every year.
So think about it if you haven’t started this yet – how important is your credit rating if you are fiscally responsible already?