Applying For a New Credit Card

We get a lot of questions about applying for a new credit card. Specifically, when is the right time to apply for a new credit card, and what credit card you should apply for.  Let’s tackle those questions today!

When Should I Apply for a New Credit Card

We love to have a stockpile of points so we can travel whenever the urge hits us. Seriously, nothing feels better than having a ton of points, airline, hotel, and transferable points! Be sure and read about all the different types of reward points if you aren’t familiar with all of them.

Because of this, we are usually working on meeting the minimum spend on a new credit card. Once we are close to meeting the minimum spend on our latest card, we are looking for another card to apply for.

The annual fee is always worth paying that first year, in exchange for those amazing bonus points. Additionally, many credit cards have the first-year fee waived so you could stick to those credit cards if you don’t want to pay too much in annual fees. If your budget is tight, you might want to just apply for a few cards a year and after canceling or downgrading a card, apply for another.

You are more likely to be approved for a new credit card if you wait 90 days between applications. If you’ve met the minimum spend on a card before three months, and really want a new credit card, consider opening up one in your spouse’s name. We have a lot of credit card points because we always apply individually. We love using Travel Freely to keep us organized as it lets us know when the best time is to apply for another credit card.

Travel Freely Screenshot

Look at all that great information my homepage tells me! I could apply for another credit card for user 2 (my husband) now. I should wait 50 days more to apply for a credit card. Last month I got my Chase Sapphire Preferred Credit Card. It also tells me when I have 3 annual fees coming up soon so I can decide ahead whether I want to cancel or keep the cards. And, very importantly, it tells me when I am under the Chase 5/24 rule.

What Credit Card Should I Apply For Next?

This is probably the question we get asked more. One of our favorite credit cards is the Chase Sapphire Preferred Credit Card. We love Ultimate Rewards because they can be transferred directly to certain airlines or hotels. It is the card we recommend the most. If you don’t have it yet, we recommend getting that and then referring your spouse to their own card.

Because of the Chase 5/24 rule, we encourage people to get the Chase Credit Cards that they want first. Here’s a list of Chase Credit Cards available:

Once you are over Chase 5/24, start examining what your travel goals are. Do you mainly want airline points? What airline do you primarily fly? What airlines fly out of your home airport? Do you want more hotel points or do you want transferable point rewards? All of these questions will guide you to your next credit card. Remember, too, that you can always ask for a credit card consultation on our homepage and we can guide you to your next credit card.

You might want an American Express Delta Credit Card if you fly Delta a lot.

Bottom Line

As far as we are concerned, it’s time to apply for a new card when you have almost reached the minimum spending on your previous card. We want all the points we can get! Go after those coveted Chase cards first so that you don’t go over that pesky Chase 5/24 rule. I had a credit card application freeze (self-imposed) for almost a year so I could get a few Chase cards that I didn’t have and it is not fun waiting. But whatever you do, don’t use cash or a debit card. Any reward points are better than no points.

Wallet with credit cards

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