Comments on: How to Use Credit Cards to Your Advantage https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/ Personal Finance and Budget Travel for Canadians Mon, 07 Feb 2022 22:28:56 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Barry Choi https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-215478 Mon, 07 Feb 2022 22:28:56 +0000 https://www.moneywehave.com/?p=10190#comment-215478 In reply to Gary J.

A couple cards on this have good welcome bonuses – https://www.moneywehave.com/the-best-travel-credit-cards-in-canada/

]]> By: Gary J https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-215476 Mon, 07 Feb 2022 22:21:02 +0000 https://www.moneywehave.com/?p=10190#comment-215476 In reply to Barry Choi.

Thanks. I have only been able to find $200/$500 and $200/$1500 so far.

]]> By: Barry Choi https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-215475 Mon, 07 Feb 2022 20:34:08 +0000 https://www.moneywehave.com/?p=10190#comment-215475 In reply to Gary J.

Gary,

It really comes down to perspective. Even though opening new credit counts will affect your credit score, a drop of 10 points won’t make a difference if your overall score is good. Heck, I get 6-10 cards a year and cancel about an equal amount each year and still maintain a good credit score. That said, I only apply for cards where I can get at least $300 in value.

As for your question, the only way to get a new card and not affect your credit card is to switch credits. Some banks allow you to do this while getting the welcome bonus. See the following links for some extra info.

https://www.moneywehave.com/what-is-a-good-credit-score/
https://www.moneywehave.com/switching-credit-cards/
https://www.moneywehave.com/does-applying-for-a-credit-card-affect-your-credit-score/

]]> By: Gary J https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-215474 Mon, 07 Feb 2022 20:27:56 +0000 https://www.moneywehave.com/?p=10190#comment-215474 In reply to Nancy Tan.

See my question. There’s no advice about how to open an account and not get dinged by having too many cards, or closing an account you no longer need.

]]> By: Gary J https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-215473 Mon, 07 Feb 2022 20:26:44 +0000 https://www.moneywehave.com/?p=10190#comment-215473 How can you take advantage of new reward cards if you already have credit cards and excellent credit. Is there anyway to do this without getting dinged when the new credit card checks your credit? I don’t see anyway to do this. I don’t need a new card; I’d like to take advantage of a card that has rewards and some of my cards are 12, 20 and one that is 43 years old. Getting dinged is not worth the $50 or so in reward points. How do I do this?

]]> By: Nancy Tan https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-204378 Sat, 14 Dec 2019 10:54:24 +0000 https://www.moneywehave.com/?p=10190#comment-204378 All the advices that people needs to know are in this column!

]]> By: 12 Canadian Personal Finance Blogs to Follow in 2018 | Savvy New Canadians https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-78578 Sat, 10 Feb 2018 21:30:35 +0000 https://www.moneywehave.com/?p=10190#comment-78578 […] must reads include: How to Use Credit Cards to Your Advantage and Best Travel Credit Cards in […]

]]> By: Investocrat https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-31795 Sun, 24 Sep 2017 19:29:59 +0000 https://www.moneywehave.com/?p=10190#comment-31795 Great advice and thanks for sharing! I definitely like taking advantage of and maximizing credit card rewards whenever I can. Thanks for the credit card comparison link as well!

]]> By: Barry Choi https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-25035 Mon, 28 Aug 2017 11:17:30 +0000 https://www.moneywehave.com/?p=10190#comment-25035 In reply to Miguel (The Rich Miser).

Miguel,

Credit cards can be such a useful tool, I’m surprised more people don’t use them effectively.

]]> By: Miguel (The Rich Miser) https://www.moneywehave.com/how-to-use-credit-cards-to-your-advantage/#comment-24986 Mon, 28 Aug 2017 05:45:42 +0000 https://www.moneywehave.com/?p=10190#comment-24986 Solid tips. I have saved thousands on travel by using rewards credit cards responsibly, including hundreds saved by the car rental insurance benefits.

Like you said, a good way to meet the minimum spend for a sign-up bonus is with gift cards. I like Amazon’s, since I know I’ll spend the money for sure.

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