Missing the boat…or the card

So about a month ago an offer was out for a British Airways card that offered 100,000 frequent flier miles just for signing up. For some unknown reason I hesitated in signing up for the card. I decided to wait until the last day because I wanted to space my inquiries as far apart as possible. When the night came I totally realized that the midnight deadline referred to the Eastern time zone. I had spaced it and the offer had closed. I was very disappointed when I realized that I missed the offer, but today I’m even more disappointed.

As I look forward to my next trip that my wife, my son, and I take I’m looking to see how to get there and when to go. The British Airways offer would have been great because it would have sent both my wife and I to Europe with only on inquiry on my credit report. My decision to hesitate completely failed me. I should have gotten started earlier with the offer and I’m sure that I would have gotten approved. My credit score is very good and I’ve never missed a payment. Oh well, I just want to encourage you to think about this. If you haven’t a single credit card in your wallet, then it is time to get started at least. You need history in order to get approved for these amazing offers like the British Airways offer that I missed. Had it not have been for my great credit and the discipline to get a credit card and pay it off every month then I never would have been approved for the 150,000 American Airlines miles or the $1,100 from Capital One.

You need to plan all of this out. You build your credit slowly with a bank credit card that you already have as well as a good “Staple Card.” The staple card is one that has no annual fee, but is used on a monthly basis to build up your credit. Then when the good offers come you will already be established as a responsible person and they will be willing to offer you the “Hot Deal.” Ideally you have a few years of history before you begin churning cards. Remember that a portion of your whole score is based on the length of history established.

As a great “Staple Card” that earns you rewards toward travel we recommend Blue Sky from American Express℠.  I have had this card in my wallet since 2005.  It has been a great card that has many additional benefits.  For every $7500 spent, they reward you with $100 toward some type of travel expenses.  That is 1.33% as a reward, but the best part is that you are required to use it for some type of travel expenses. It can only be reimbursed if you have a travel expense. That way you are forced to spend the dollars on travel. As you can see from my savings post and this one I’m a big fan of budgets and making sure that travel is a part of the budget. I guess that I why I’m able to travel so much.

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