App-O-Rama October 2015
Every quarter, I perform an App-O-Rama. An App-O-Rama is a strategy of completing multiple credit account applications in a relatively short period of time. The reason I do this is because applying for credit cards is one of the fastest way to accumulate points.
You may be thinking doesn’t this hurt your credit score?
Initially, your credit score will drop a couple points (3 to 8 points per application) but over time if you keep your balances in check then your score will eventually rise to where it originally was or possibly even higher. As I mentioned under Travel Hacking FAQs & Myths my credit score actually rose from September 2014 to August 2015 even though I’ve applied for multiple credit cards within the past year.
Over the weekend I completed an app-o-rama for Rodalyn and I. We was automatically approved for five new credit cards. One card, Chase Ink, did get sent for reviewal but datapoints show that you should wait a couple days and Chase usually will approve your applications. Here’s a list of my October 2015 app-o-rama:
- 2x Alaska Airlines Visa Signature® Credit Card
- Chase Ink Plus® Business Card
- Chase British Airways Visa Signature® Card
- Citi® / AAdvantage® Platinum Select®MasterCard®
Here is a break down of the annual fee, sign up bonus, and minimum spending requirement for each of the cards.
[table id=14 /]
In order to meet those minimum spend, we do a combination of manufactured spending and paying all of our bills with those cards first.
Essentially, we earned a total of 270,000 miles/points for only $340. That’s equivalent to buying points at 0.125 cents. Which is an awesome deal!