FIVE STEPS TO TAKE AFTER GETTING A NEW CREDIT CARD
The number one key to success with traveling with credit card points is staying organized. To be able to sustain long term (nearly) free travel you will be applying for a new credit card every one to three months when you first start out. This means you have to keep track of application dates, bonuses, annual fees, 5/24 status, etc.
When I first started, I kept track of everything in a notebook, now with the help of points tracking apps and an automated system, I do a little work in the beginning and don’t have to spend too much time on it afterwards. Life is busy, let’s work smarter and not harder.
ACTIVATE/ACCOUNT SET UP
The very first thing I do when I get a new card is create or log into my online bank account and set up the auto-pay. Every credit card account I have is set to autopay the minimum due every month. While I pay my balances off every month, I am not perfect and this gives me a cushion of time in case something falls through. Also, don’t forget to activate your card. You can do this by calling the number on the sticker in the front or online. You must activate your card before you use it for the first time.
KNOW YOUR MINIMUM SPEND WINDOW
The time clock on the minimum spend window to earn your bonus begins when you are approved for the card, not when you receive the card in the mail. This date is very important to remember (set a reminder on your phone). I hear of so many people that fail to meet their minimum spend by dollars or just a few days.
Also, keep in mind that the annual fee will be charged to your account on the first billing cycle and that amount is not included in your minimum spend. I always charge a little extra over the required spend just in case. The step below will help you to keep track of this.
KEEP TRACK OF YOUR CARDS
Because of all the different bank application and bonus rules, you want to keep track of certain information that will make applying for subsequent cards easier. If you start keeping track of this information when you first start out, you’ll save yourself so much time. I kept track of everything in a notebook when I started, now I enter all the information on Travel Freely. I love this app so much. Under one log-in it will track not only my cards but my Player Two’s cards as well.
UPDATE ALL ONLINE BILL PAYMENTS WITH NEW CREDIT CARD
This is the most time-consuming aspect for me after getting a new card. But remember, the goal is to put every single purchase on your new credit card, that includes every bill that accepts credit cards. So, take the time to switch the payment over on each online bill as soon as you get your new card to help meet that minimum spend quicker. I also update all my digital wallets with my new card on the Walmart, Target and Amazon app as well as your Apple wallet.
TRACK POINT BALANCES AND FREE NIGHTS
Award Wallet is an app that has been around for a very long time. It tracks all of your point balances and when your free night certificates expire. It also keeps track of hotel and car rental accounts. You will have to enter your login for every credit card and loyalty account program, which is easiest to do when you’re first starting out. We have been members for over five years and have never had any issues with security.
FINAL THOUGHTS
Managing multiple credit cards can be extremely time consuming, especially when you are managing them for two people. Life is too busy. Follow the steps above, set it and forget it!
Happy Travels!
Stuck on ways to meet the minimum spend on your new card? Read our best tips here.
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