Earlier this week, I decided to apply for a handful of new reward credit cards. I’d been planning on doing this for awhile, and finally had sufficient downtime to tackle it.
I ended up applying for three cards, all on the same day. Why all at once? Because doing so is generally thought to minimize the impact on your credit score. Moreover, the issuing banks are unlikely to see your other applications, increasing your odds of approval.
If you have good credit, this isn’t a big deal, but if you can minimize the effect on your credit score and tilt the odds of approval in your favor… Why not?
What follows is a rundown of the three cards that I applied for and why I picked each of them. In two cases, I was (mostly) bonus chasing. In the third, I was just looking for another card to round out my collection of (rotating) 5% rewards cards.
I started by applying for the Barclaycard Arrival World MasterCard. Why? Mostly to cash in on their generous $444 signup bonus, but I will also admit to being tempted by their 2.2%-on-everything cash back rewards.
Note: To realize the full potential of this card, you should use your points to offset travel costs that you’ve charged to this card.
It should be kept in mind that this card has an $89 annual fee. That fee is, however, waived for the first year. Thus, you can easily capture the signup bonus, which requires $1k in spending within three months, long before the annual fee kicks in.
Interestingly, despite our relatively high income and stellar credit, they were unable to provide an instant decision on this application. They’re currently reviewing it manually and I expect a positive decision within a few days.
If you’re interested in this deal, you can apply here.
Amex Delta Business Platinum
While skimming through the many sites that I follow, I recently ran across an excellent offer for a Delta-affiliated American Express business card. Since I run a small business (you’re reading it) and travel frequently on Delta, I was intrigued.
This is a time-limited offer, expiring on July 7th, so I ultimately decided to jump at it while I had the chance. My primary motivation in this case was the Medallion Qualification Miles (MQMs), which count toward status upgrades.
When all is said and done, I’ll get 55k miles, of which 20k will count as MQMs. There’s a non-waived $150 annual fee, but that’s more than worth it in my case.
After a brief hiccup (resolved with a quick phone call) involving multiple applications being created when their online system glitched, I was approved. The card should be arriving within the next few days.
More details are available here.
Discover it Card
Last but not least, I applied for a Discover it Card. I’ve had Discover credit cards in the past, but it’s been awhile. Note that there was no bonus involved with this card but, when combined with my Citi Dividend and Chase Freedom cards, it rounds out my access to the 5% rotating reward categories.
Note that this card also offers 0% on balance transfers for 18 months. That’s a non-issue for me, but it might be of interest to some of you — particularly if you’re trying to pay down high interest credit card debt.
As with the Amex Delta card above, I was approved right away. The card should arrive within a few days. Interestingly, they didn’t specify my credit limit when they approved me so I’ll have to wait and see about that.
If you’re interested in this card, you can apply here.