Could I qualify for a Miles credit card? Are multiple CCs ok?

[mrmatt]

I handle my apartment's common expenses such as rent and bills, so I would like to apply for a flyer miles credit card to charge all of these expenses on and then pay off to rack up points.

I've had my Citi Forward card since 7/10 and have paid it off every month, using no more than 10% of my credit limit. No loans, no mortgages. No late payments.

Creditcards.com lists all of the Miles cards as requiring "excellent credit." Should I even bother?

And another question - is it too soon to apply for another credit card, since I've only had my first for 11 months? I have heard that multiple cards can be a good thing if done the right way.

[Slug]

This is a great plan. You should try it. Another tactic more tangible than the miles approach is the Fidelity AMEX that gives you 2% back on every purchase. However, some of the miles cards have some great sign up bonuses. Checkout nerdwallet.com too.

[disneysteve]

It is certainly worth applying and see if you qualify.

Keep in mind that miles cards often have annual fees and there are loads of restrictions on actually using your miles. Billions of miles go unused each year. You might want to consider a card with a better rewards program or cashback, as Slug suggested.

[JoshuaHeckathorn]

I'm not sure what your FICO scores are, but you don't necessarily need "excellent" credit to get approved for a travel rewards credit card. If your score is at least around 700, go for it. You have to remember that card issuers are cautious these days regarding how they market cards. They've increased approval standards and only want the best new customers, so they choose their marketing language very carefully.

Both creditcards.com and nerdwallet will probably leave out arguably the best card for racking up travel rewards because it has a rather high annual fee ($125) and they know a lot of people searching online won't click on it and apply. But if you travel a lot yourself, check out the Citi ThankYou Premier Card. This is the only card I know of that allows you to rack up points for flying in addition to what you spend. I use this card myself and there are plenty of other benefits I won't go into here. Just check it out and do your research. Citi also just launched a promotion for this card offering 50,000 bonus points if you spend $3K during the first 3 months, so this is a good time to apply for the card.

Now, if you don't fly a lot yourself, it might be better to look into a card like the Capital One Venture Card or a cashback card as others have suggested.

[mrmatt]

Thanks guys. I will look into the Capitol One card and the other miles cards. I do not fly much myself, no more than twice a year usually.

On another note, I'm assuming that one can combine SkyMiles with card miles?

[disneysteve]

Thanks guys. I will look into the Capitol One card and the other miles cards. I do not fly much myself, no more than twice a year usually.

On another note, I'm assuming that one can combine SkyMiles with card miles?

If you don't fly much, why are you interested in a miles card?

As for your question, yes, most reward programs like air miles, hotel points, etc. do combine all point earned into one account. We have a Marriott Visa and the points earned from staying at Marriotts are combined with the points earned from charges to the card.

[wolfy]

The annual fee is usually $60 or more per year and it is usually 1 mile for every $1 spent. It usually takes 25,000 miles to get free domestic ticket. (That’s if you can find one at that rate). This means you would have to spend $25,000 dollars for a free ticket. If you are going to spend $25,000 dollars I would personally get a cash back card. Plus some of the cash back cards give you a monthly bonus for certain things. Stuff like gas or whatever. I have never seen a bonus on a miles card (other than the sign up bonus). If you get a cash back card see if you can get one where you bank. Sometimes they give a monthly bonus just for having an account with them. If you fly only a few times a year, (depending on where you go) it might just be cheaper to pay for the ticket.

Second, do you need more than one card? I have had more than one card, and the only thing that does is make it harder to keep track of payments due and when. It also makes it easier to rack up the debt. I am down to one card and don’t need more than that. But that is just my opinion.

Whatever you decide, make sure you do your research and get the best card for you.
Just my two cents

[jerrycates]

One CRedit Card is already un-amusing to me, more so multiple! That will already rake my brains from worrying of payments. I know it is about money management, but if you have a family, sometimes it is hard to control. Solution? I do not bring my CC and I stay away from malls!

[GrimJack]

I would also suggest that you go for a cash-back card unless those one or two flights are worth it.

I just found an interesting way to get cash back by buying cash. Buy some dollar coins from the mint (you have to buy at least $500.00 worth to get free shipping, though)

[disneysteve]

I just found an interesting way to get cash back by buying cash. Buy some dollar coins from the mint (you have to buy at least $500.00 worth to get free shipping, though)

I posted about this a couple of years ago and I did it once. It works fine. I just found it to be too much trouble for the small return. I don't to go to the bank that often so cashing in the coins wasn't worth my time.

[jtr8178]

I posted about this a couple of years ago and I did it once. It works fine. I just found it to be too much trouble for the small return. I don't to go to the bank that often so cashing in the coins wasn't worth my time.

OK, I just decided to give this a try. I have a CapitalOne rewards card for double miles. So a $1000 purchase means 2,000 miles. I can do this every 10 days, so say 35 times a year to be safe. That equates to 70,000 frequent flier miles for me, or $700 worth of free airline tickets.

I guess this assumes that the actually ship on time and they continue the program, so we'll see. An easy way to make some extra miles so that I can fly for free. Me and my wife (plus a child now!) take a couple trips a year.

[disneysteve]

OK, I just decided to give this a try. I have a CapitalOne rewards card for double miles. So a $1000 purchase means 2,000 miles. I can do this every 10 days, so say 35 times a year to be safe. That equates to 70,000 frequent flier miles for me, or $700 worth of free airline tickets.

Just remember that means that every 10 days, you will have $1,000 in coins that you need to physically bring to your bank to deposit in your account. That's the part that was the pain for me.

[jtr8178]

Yea, I got 2 branches within 2 miles of where I live, plus I have to pass one on the way to work. So we'll see how it goes.

[DKAS]

Yea, I got 2 branches within 2 miles of where I live, plus I have to pass one on the way to work. So we'll see how it goes.

Would your bank be okay with you bringing in $1000 coins deposits every 10 day? I've started accruing miles as well recently and saw the idea of coins on google. However, I do almost all transactions online and hate going to a branch. Just wondering how banks react to these transactions.