Will a Lower Credit Limit Help Me Get Approved for Cards?

TPG reader Blake messaged me on Facebook to ask: “Do you ever recommend calling in to receive a lower credit limit than what is granted to you after an instant approval? Is it advantageous to keep limits lower to make room for more cards with the same bank?” I’ve got a huge amount of credit…

If I Just Got a New Credit Card, Can I Apply for Another?

TPG reader Luis tweeted me to ask: “@thepointsguy- I just got approved for a credit card. When can I apply for another one?” I’ve said it time and time again, but credit card bonuses are probably the most lucrative and easiest way to bring in tons of points and miles. A 60 second application online (and meeting spending…

Which Credit Cards Are Best for Building Credit?

TPG reader Martine asked me on Facebook: “I just completed paying off my consolidated debt and am looking to build my credit, if possible with some type of rewards credit card. My credit score is 694 with Transunion, but 744 with Experian.  Do you have any recommendations?” Maintaining a high credit score is critical if…

Should I Call if I Don’t Get Instant Credit Card Approval?

TPG reader Brian asked me on Facebook: “If my online credit card application isn’t approved instantly, is there any benefit to calling the reconsideration line right away rather than waiting until I receive a yes or no decision? Would it be better to wait and then call if the decision is no?” Applying for credit cards…

Will I Earn Points If I Pay My Credit Card Bill Early?

TPG reader Sean emailed me with a question this week: “My research suggests that I can make charges and pay them off multiple times during the billing cycle. If I do that, will I earn points based on the total I spent in the month, or are points awarded based on my balance when my statement closes?” Paying your credit card…

Do You Pick a Date Every 3 Months for Card Applications?

TPG Reader Michael sent in a question: “…if you do a new round of applications every three months or so, do you choose an exact day in January, April, July and October?” I’ve got 23 different active credit cards right now, and I know a lot of people who have many more than that. My personal…

Should I Reduce My High Credit Limit If I Don’t Use It?

There are a lot of different factors that influence your credit score, the biggest ones being paying your bills on time, and the amount of credit that you’re utilizing. For example, if you’ve got $20,000 of available credit between all your accounts, and you’re running a combined balance of $17,000, that represents a high credit utilization, and…

How Card Applications Affect Your Credit Score

Today, TPG contributor Jason Steele reviews how new credit card applications impact your FICO score, and reminds us to consider the big financial picture when playing the points and miles game. There’s no way around the fact that credit card sign-up bonuses are among the quickest and easiest ways to earn points and miles. Even if you…

How to Get a Free FICO Credit Score From Certain Credit Cards

Compiled by the Fair Isaac Corporation and sold to individuals and companies/banks, the widely-used credit score known as FICO helps lenders and credit card companies determine a consumer’s level of fiscal responsibility and risk. The higher this score, which ranges from 300-850, the better your credit. Once every 12 months, consumers can receive their FICO report…

Credit Card Reward Program Regulations May Be On The Way

In the aftermath of the financial crisis, Congress passed financial regulations meant to add more oversight into the financial markets to hopefully avoid another crisis. In 2009 they passed the CARD act, which enforced new rules on credit card companies including how often they could change consumer APRs and how much they could charge merchants…