This is one of the first questions I asked when starting! It’s a great and responsible question! I’m not a financial consultant, but here’s what I’ve learned since I started opening multiple credit cards each year. In fact, my credit score has improved to over 800 since I began traveling with credit card points and miles!

• Payment History and Credit Utilization: These are the two highest impacts on your credit score. Always pay your card off in full and on time, and keep your utilization ratio low.

• Age of Credit: This has a medium impact. Closing older cards can hurt your score more than closing newer ones, so keep long-standing accounts open.

• Credit Mix: Having a variety of credit types (e.g., credit cards, loans) can positively influence your score (lower impact).

• Hard Inquiries/New Credit: Each time you apply for a new card, a hard inquiry is made, which can lead to a minor dip in your score (lower impact). I’ve noticed my score drops slightly when applying for a new card, but it typically rebounds within a couple of months.

By understanding these factors and managing your credit responsibly, you can maintain or improve your score while enjoying the benefits of travel rewards.

To earn points quickly, one effective strategy is to take advantage of credit card welcome bonuses. Many travel rewards cards offer substantial bonuses—like 90,000 points after spending $3,000 within the first two months. By opening cards strategically, you can stack these bonuses to accelerate your points accumulation.

Additionally, I teach how to maximize your rewards by transferring points to loyalty programs. For example, using a credit card’s travel portal might cost you around 120,000 points for one night at a hotel. However, if you transfer your points directly to the hotel’s loyalty program, you could secure that same night for approximately 40,000 points! This approach can significantly stretch your rewards and help you travel more for less.

Many travel rewards credit cards charge an annual fee, but these fees can often be justified by the benefits they offer, such as sign-up bonuses, higher earning rates on travel purchases, and perks like lounge access or travel insurance. The annual fee for a good travel rewards card is usually worth it, especially in the first year when you receive a sign-up bonus. For instance, earning over $995 in travel for a $95 fee is a no-brainer!

After the first year, you have three options:

1. Keep the card open and pay the annual fee. Sometimes, the benefits, like free nights or travel perks, outweigh the cost.

2. Downgrade to a no-annual-fee card. This keeps your line of credit open without affecting your credit score.

3. Cancel the card altogether. Be cautious with this option, as closing your oldest card can negatively impact your credit score. Before canceling, consider asking for a retention offer or if they will waive the fee.

Always keep your card open for at least a year; closing or downgrading it too soon can look unfavorable to credit card companies.

Points and miles felt like a complex puzzle when I first started learning about them—I totally understand! It’s a whole new kind of currency. But once you piece together the concepts and it all clicks, you’ll feel confident in your ability to earn, redeem, and travel for nearly free using your credit card points and miles.

While my credit card strategy emphasizes opening multiple cards to take advantage of lucrative sign-up bonuses, there are plenty of other ways to travel affordably! You can make significant progress with just 1-2 top-notch travel rewards credit cards and by discovering effective tips and "sweet spots" to maximize your points. Don't forget to grab my free Kickstart Guide for my best strategies to stretch your rewards further!

If you're hesitant about opening several credit cards, there are still great options available. Consider joining airline and hotel loyalty programs directly, which let you earn points through everyday purchases and by shopping with partner retailers. Plus, some credit cards come with no annual fees while still offering rewards, although they may have a lower earning potential.

To maximize your chances of approval and maintain a healthy credit score, I recommend spacing out your credit card applications. While it's possible to apply for and receive new cards sooner, doing so frequently isn't advisable. Ideally, wait at least 90 days between applications, and a minimum of 30 days is a good practice. Just make sure you can meet the spending requirements for any sign-up bonuses before applying.

While many travel rewards cards require good to excellent credit, there are options available for those with varying credit scores. Always check the specific requirements for each card before applying.

While there's nothing wrong with opening a credit card for the welcome bonus, it's essential to keep that card open for at least a year. Closing it before your first account anniversary can risk losing valuable points and rewards tied to that card. Additionally, if you consistently close cards right after the one-year mark, you might miss out on future bonuses, as some issuers may view this negatively.