I asked, you responded, and I listened. I got some great feedback from my Should I get a credit card? post and decided to move forward with an application. Luckily Capital One lets you see what cards you are most likely eligible for, without actually hurting your credit score. I knew I wanted some kind of rewards, as that’s really the main reason I want a credit card.
I’ve been interested in travel hacking for a while, but all the really great offers go to people with really great credit. I have good credit, but not great enough to get 2 miles per dollar. But I did get approved for a travel card with 1.25 miles per dollar and the miles never expire! Also, I could pick what pretty picture I wanted on the card. The picture is of some far away place– to be honest, I don’t even know where it is, but it looks pretty. It will inspire me to pay off my debt and travel.
My partner and I have decided that we will use this credit card together as our groceries and going out card. We can easily track our joint spending in these areas while accruing miles!
To be honest, it feels kind of weird having a credit card. I haven’t even used it, but I’ve gone 28 years without one. I feel like not having a card sets me apart, keeps me unique and also makes me super careful with my money, because I’ve ALWAYS (aside from school) paid for things that I actually had the money for. But as I get older, I am starting to see some of the benefits of having a card. I do want to build my credit and I definitely want to travel hack!
Readers, I’m curious…..
What age did you get your first credit card? What do you use your credit card for? Travel hack credit card experts: please advise!
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13 comments
I think I was about 27, in France you get a “carte de crédit” that sounds like credit card but takes the money from your account like a debit, only it will let you get overdrawn (and pay interest from day 1!). I got a UK card when I moved there and like the convenience of not having to check the balance until it is about to be taken of current account. So jealous of the miles, I need one like that!
You should get one with the miles! I can’t wait to see how it works out. Good to know someone else got credit cards later in life.
I currently have one credit card that I’m paying off and it’s a Your Points card. Basically, you collect points every time you use it and then pay for flights, groceries, etc using the points. Well, I don’t really use it anymore, I’ve closed it to start paying it off without any temptation to spend. Once I am debt free and trust myself a bit more, I will probably get one out with some amazing rewards. It’s definitely worth it (if used correctly!).
That sounds awesome! Use them responsibly or not at all! I know it’s a slippery slope. I was kind of shocked they approved me for a 3k credit limit. I’m going to be vigilant with it though.
We can totally talk travel hacking next time we hang out! Good job for getting a mileage credit card!
First comment on your new site! Looks good!
I got my first card when I was young, before 20, I don’t remember exactly. Until last year, most of my credit cards were used in place of emergency funds, sometimes for rent in dire times. I only have one rewards card and don’t use that paid off card often enough (I will once I’ve completely paid off all cc debt) to gain rewards. On the lookout for something with travel rewards!
Thanks for commenting! 🙂 I think that is why I waited so long to get one– I didn’t want to use it in place of emergencies, although I know things happen. As I said, it will mostly be used for groceries and going out. Hope to get travel rewards some point soon!
I don’t have any credit card debt, but I do use credit cards for all of our daily spending AND for rewards. It’s a great way to earn free stuff if you’re disciplined!
I can’t wait to get some rewards out of it! I’m not too worried about my discipline, but I can definitely see the appeal. It’s like, oh, wow, 3k credit limit, I can buy stuff NOW and pay LATER. I don’t want to do that though! I plan on paying everything off each month.
Not to criticize your choice, but it sounds like the card you may have chosen isn’t the best option. Is there an intro bonus? That’s where the real value is at!
If all you’re getting is 1.25 miles per dollar, you’re going to have to spend a TON of money before you get anything worthwhile. I’m not sure how CapitalOne miles break down, but check and see what sort of value you’re getting.
Most offers I choose go something like this: Spend $X within X months and get XX,000 miles.
A good example would be the Chase Sapphire Preferred. Right now it’s $3,000 spend in 3 months to get 40,000 miles. That’s 13.33 points per dollar!
If you don’t typically spend $1,000/month on credit (I pay taxes on credit and find other ways), you can find offers that get 25,000 miles for $1,000 spend (25 points per dollar!) Some even give you miles with just your first purchase.
If you haven’t already, check out Chris Guillebeau’s free Cards for Travel site here: http://cardsfortravel.com/best-credit-cards/
In terms of getting approval, did you actually get rejected? I wouldn’t be too afraid. If you get rejected, it’s not going to ding your credit score much, if at all (think ~5 points). You can also call the reconsideration line, too.
If you’re working on the one card for now, I’d stick with it but try some other offers in a few months’ time. There’s better out there!
Glad you’ve gotten started on this! If you have any more questions, don’t hesitate to email me directly if you need help 🙂
Jeffrey– it’s totally not a great credit card. It’s a starter credit card! I’m going to build up my credit and hopefully in 2014 I can apply for the really amazing cards and start doing what you are doing 🙂 This does have a bonus which will help, but aside from that I’d need to spend sooooo much money to get miles. Luckily they never expire. I will take a look at that link and bookmark it. Thanks for your help!
I do not have a credit card. Because of my large amount of student loan debt, I am too scared to get one. However; it is really important to get build up credit. It is difficult to buy a new car or like you said travel — without credit.
I am going into new territory myself. I can see the temptation now that I have one, but I am going to pay it off every month!