Another newbie

Discussion in 'Newbies' started by servo, Aug 9, 2012.  |  Print Topic

  1. servo

    servo Silver Member

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    I've been a travel lover ever since I got on my first airplane and train, and have casually been logging rewards through my various travels over the last few years. I'm based in Orlando (MCO and I've used SFB as well), and have friends pretty much all over the Midwest, with the hometown being SDF. I've been using SWA RR for the last few years, but after getting married back in April, and a more recent desire to begin traveling internationally, I've decided to start looking into the legacy carriers and their credit cards. I've read all the blogs I could find in the last few weeks and am eager to get started.

    Here's the rub though; everyone says don't go on crazy card app binges if you're going to have a major purchase in 24 months. Well, my wife and I are interested in possibly buying a house down the road (we rent a house currently), but she'd have to get a different job for us to move to the area that we'd want to buy in, so it MIGHT happen, but it also might not. Considering that if we do in fact get one, it would likely be on the tail end of that 24 month mark, so I'm less apprehensive about getting into the game a little bit.

    This year, prior to learning about all of the message boards and bloggers, I got the AmEx Blue (which I've come to realize isn't really worth much), Cap One Venture (40k miles now) and Priority Club Visa (95k points now). I just applied and was immediately approved for the following:

    AA Advantage Visa - $8,500 limit - supposedly 50k miles after $3k spending in 4 months (but the application made no mention of any bonuses. I will confirm once I receive the cards and call to activate them.
    AA Advantage AmEx - same as above (used the 2 browser trick and worked like a charm)

    Barclays US Air MC - 30k miles after first purchase

    That's 6 cards this year, and I'm a bit cautious about doing more in the next 24 months, with that potential mortgage application hanging over my head.

    I'm looking forward to jumping into this a bit more once that gets resolved, because it seems like flying first class in a lay flat seat overseas is within reach, and I never assumed that would be possible, even on a better than decent income.

    I feel like living in Orlando gives me access to a number of big airports in the area for overseas hauls (I've been researching, and it looks like driving the 4 hours to Miami might save money/miles over going from MCO in a number of cases), but maybe I'm not considering something the seasoned fliers know. I appreciate any advice offered.
     
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  2. Sedosi

    Sedosi Gold Member

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    Welcome.

    I'm sure there are a ton of ppl on here that can give you good advice on CC's and maximizing them. I'm not one of them (I don't play the CC game as much as others), just wanted to say hello.
     
    servo46250 and miles and smiles like this.
  3. misterbwong

    misterbwong Silver Member

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    Whether or not to apply for more cards all depends on what your current score is (pay for a FICO-not FAKO-score if you don't know). The goal is to be at or above 750-760 when the mortgage folks pull your credit since this is the line where you would get the best rates. If you're in the mid to low-ish 700's or below, I'd wait for my credit to heal and/or build my credit before applying for more cards. Each CC app usually knocks of 5-20 pts from your score and the score usually takes about 3-6 months to heal (depending on the person).

    Personally, I've applied for two CC's within the last year and so far my approval process has gone smoothly. I'm super conservative with my score so, I've decided not to apply for any more cards until after the loan is funded.

    Keep in mind that getting a good mortgage rate is MUCH better than getting signup bonuses.
     
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  4. servo

    servo Silver Member

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    Very well said misterbwong. I've worked in the Credit Union industry (6 years for actual institutions and 4 years now for a software company that sells to them) and the top rate on the mortgage is paramount to me. I was at 781 before adding my 4 most recent cards, so I am going to monitor it very closely.
     
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  5. guberif

    guberif Silver Member

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    LOVE the last sentence!
     
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