$$-$$$ Credit Card Strategy (part 1- Gamer)

There are many credit card strategies out there which can be classified under 3 categories.

1) Gamer - Sign up new card with the sole purpose of getting the sign up bonus.--> Our focus

2) Strategist - Sign up cards to earn the best cash back % for each category.

3) Maximizer - Sign up cards that provide the best redemption options.

Ideally, you want to get the best combination from these 3 strategies. To give you some idea, this is what I did to be a Gamer. I signed up for these 3 cards in 2 years as I anticipated big purchases for engagement, wedding, etc. It's always good to time your application than to spend on unnecessary purchases.

• Chase Reserve
• When Chase Reserve was first launched in 2016, I applied for this card to get the 100K sign up bonus which is equivalent to $1,500 in The Chase Ultimate Rewards Travel. With such a great sign up bonus, I asked my girlfriend then to sign up for the same card as well.
• Even though it has $450 annual fee, it has $300 travel credit which bring the annual fee to only $150. 
• This is still my primary travel card.
• Note: they no longer offer 100K sign up bonus and there's a chance the annual fee to increase to $550.

• Chase Ink Business Preferred
• Signed up to get 80K bonus which is equivalent to $1,200 if transferred to Chase Reserve for redemption in The Chase Ultimate Rewards Travel.
• After transferring the rewards to Chase Reserve, I closed the account since it is an annual fee card ($95). 

• Chase Ink Business Cash
• Signed up to get $500 bonus cash, which is equivalent to $750 if transferred to Chase Reserve for redemption in The Chase Ultimate Rewards Travel.
• Since this is a no-fee card, I still keep the account active but has not use it yet so far.

Just be careful of applying too many cards in short period of time. For example, Chase has 5/24 rule where they will deny credit card applications if you signed up for 5 new credit cards in the past 2 years. Credit card company can also accept your application but waive your sign up bonus.

To continue reading on becoming strategist, click here.

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