{"id":4606,"date":"2013-05-13T23:38:31","date_gmt":"2013-05-14T05:38:31","guid":{"rendered":"https:\/\/worldwanderlusting.com\/?page_id=4606"},"modified":"2013-05-13T23:54:10","modified_gmt":"2013-05-14T05:54:10","slug":"faqs","status":"publish","type":"page","link":"https:\/\/worldwanderlusting.com\/?page_id=4606","title":{"rendered":"Travel the Free Way: Frequently Asked Questions"},"content":{"rendered":"
\"Shoshone<\/a>

A photo I took today of Shoshone Falls, near Twin Falls, Idaho<\/p><\/div>\n

{Today’s post is comprehensive coverage of WorldWanderlusting’s Frequently Asked Questions after this post wears off, we’ll turn it into a page where you can easily reference it in the future.}
\n<\/b><\/p>\n

As you’re voraciously churning through the pages and posts on WorldWanderlusting, no doubt you’ve have questions surface about how you, too, can “travel the free way.” \u00a0These are some of the most common questions we get, along with some good answers.<\/p>\n

Doesn\u2019t it hurt your credit?<\/h3>\n

This question is so popular it has its own post<\/a> \u2013 a very detailed one which describes how credit works and what measures you can take to be sure that your credit score remains strong.\u00a0 The short answer is: It doesn\u2019t have to. Most of your credit score consists of whether you make your payments on time and whether you keep a balance. Adding credit cards to your history can negatively affect your credit through recent inquiries \u2013 a relatively minor factor, which refreshes after two years.\u00a0 Canceling cards after short periods can shorten your average credit history length, another minor factor.\u00a0 Also keep in mind that there are three credit bureaus \u2013 not all of which are affected with each card application. Even still, we always recommend that wanderlusters hold off on credit applications if major credit-sensitive purchases are on the horizon (a mortgage, vehicle financing, etc.).<\/p>\n

How good does my credit need to be?<\/h3>\n

From credit issuers standpoint, there\u2019s not much difference between the 720 mark and 800+.\u00a0 Anything over 720 is excellent credit and won\u2019t improve your rate approval incrementally.\u00a0 If I were in the 730 range, I\u2019d be more sensitive to new applications, but anything over that seems to be sufficient for approval in most cases and also keeps a buffer to ensure you\u2019ll always qualify for the best rate available when seeking credit.<\/p>\n

How do Miles and Points work?<\/h3>\n

We could go on for days about this, and kind of do in this post<\/a>. The important piece for you to remember is that they are like any other form of currency.\u00a0 They buy you free travel in varying increments. As you would expect, when there\u2019s less demand (off-peak) your points will buy you more.\u00a0 They\u2019ll also buy you more if you know and understand the programs well.\u00a0 That\u2019s where we come in. The programs generally consist of airline, hotel, and bank points \u2013 the bank points being the most flexible of the three and some hybrids in there as well. In some cases you can transfer between them, but usually not.<\/p>\n

Isn\u2019t it dangerous to travel outside the US?<\/h3>\n

Absolutely not.\u00a0 There are unquestionably many places to travel that are far safer than places in most major US cities. Not knowing what areas might be unsafe is a concern, but the same goes for traveling in the U.S.\u00a0 The Department of State<\/a> keeps up-to-date information about any travel warnings.\u00a0 Take a look, and keep in mind that they err on the side of extreme caution. Most places in the world are anxious to host travelers with open arms \u2013 they are a major source of revenue \u2013 one they protect.<\/p>\n

Don\u2019t the miles expire?<\/h3>\n

Some programs, like Delta, have made points non-perishable (but that doesn\u2019t stop them from devaluing them over time through \u201cinflation.\u201d)\u00a0 More often than not, programs have an \u201cactivity qualifier\u201d which means that you have to have some form of activity periodically (maybe every 2 years) in order to maintain them.\u00a0 You can have activity by something as simple as booking a hotel, then canceling it, buying a magazine subscription with your miles, or making a small transfer.\u00a0 Even so, you didn\u2019t get these points to let them sit there.\u00a0 Use them and then get out and find some more!\u00a0 There\u2019s a world to see out there.<\/p>\n

If it\u2019s this good, why doesn\u2019t everyone do it?<\/h3>\n

This is the question we keep asking ourselves! \u00a0After having countless conversations with people over the years, I\u2019m convinced that many people think they are already taking advantage of credit card travel bonuses because they have a card or two. What we\u2019re suggesting is something much more intense than that.\u00a0 It\u2019s a way of life.\u00a0 It\u2019s about opening a portal to the world by something as simple as redirecting everyday purchases from debit cards, checks, and cash, to credit cards that are paid off immediately.<\/p>\n

We came into this magical world and opted to create a blog to share it with everyone we could get it to.\u00a0 At some point, I suppose we could overwhelm the system, but until that day we\u2019ll be sharing the word as far and as wide as we can get it.\u00a0 Please feel free to pass it along to everyone who you think might listen.<\/p>\n

How do I start?<\/h3>\n

First off, you need to know that for WorldWanderlusters, credit cards are not borrowing instruments. If you can\u2019t restrain yourself from making purchases you\u00a0wouldn’t\u00a0otherwise make, you\u2019re not cut out for this. You must know that every payment must be early or at least on time. Never, never pay interest.\u00a0 You lose when you pay interest. Once you know you\u2019ll be responsible and your credit is in good condition (you can track your virtual score at\u00a0CreditSesame.com<\/a>), find a card you like and apply.<\/p>\n

Some people start with a destination or two in mind, and that\u2019s great, but we\u2019ve always advocated a \u201cshoot first and ask questions later\u201d approach.\u00a0 A wallet full of points and miles readies you for whatever opportunities come your way.\u00a0 If there\u2019s a hotel chain or airline you\u2019re already familiar with, or have points with, start there because it\u2019s something you already know. Look at our Free Travel Credit Card<\/a> page and see which ones are our favorites at the moment.<\/p>\n

Where should I go?<\/h3>\n

And it begins.\u00a0 You literally have the whole world at your fingertips. Sheldon and I have traveled to 5 of the 7 continents on frequent flyer miles<\/a>, and you can too.\u00a0 Have you read a book about some place that piqued your interest?\u00a0 Do you have ancestry you could discover?\u00a0 Any friends that live overseas?\u00a0 Do you want adventure, history, or relaxation?\u00a0 Ask yourself these questions and start plotting your attack on the world. Our hope is to constantly feed you ideas.\u00a0 You can start with our Loops page<\/a> and subscribe<\/a> to our 3-times-a-week posts.<\/p>\n

How many cards should I apply for at once?<\/h3>\n

For two years I applied 1 or 2 cards at a time.\u00a0 More recently I\u2019ve lumped applications into groups of 5 we call an \u201capp-o-rama<\/a>.\u201d The most important thing is that you never put yourself in a situation where you \u201chave to spend\u201d more money than you\u2019d otherwise be spending in order to meet the minimum spending requirements in time.\u00a0 As a general rule, we spend about $1000 a month in credit-cardable expenses, so I usually don\u2019t want to be obligated to spend any more than that.\u00a0 Also, Chase, which is one of the major issuers of great travel cards, will only approve you for one card every 30 days, so you can\u2019t stack two Chase applications at once (unless you\u2019re applying separately for your spouse).<\/p>\n

What expenses can I put on a credit card (without an added fee)?<\/h3>\n

We have a post<\/a>\u00a0for this, too.\u00a0 The shorter answer is that the major ones are: groceries, fuel, utilities, entertainment, and medical expenses. Most major expenses, like your mortgage, vehicle payment, taxes, and others are not \u201ccredit-cardable.\u201d\u00a0 Add up your monthly budget items and determine roughly how much you could spend on a credit card each month.<\/p>\n

How many travel reward cards are out there?<\/h3>\n

Dozens, and they are constantly changing.\u00a0 In three years, I\u2019ve applied for a number of cards which no longer exist, and new ones have come out each year.<\/p>\n

Can I apply for the same card more than once?<\/h3>\n

Some issuers will approve you in \u201cchurning\u201d the same card.\u00a0 Citi, for example, has in the past approved people for the same card so long as it\u2019s been at least 18 months since the original application.\u00a0 Chase, however, is a stickler on this and will not issue a bonus any more than once.\u00a0 Also, keep in mind that there are often many different versions of cards that will allow you even further depth in acquiring bonuses.<\/p>\n

Can my spouse apply separately?<\/h3>\n

Yes, and they should.\u00a0 I do not like the idea of sharing bonuses. If you add your spouse to an account, it will likely go down as a credit inquiry.\u00a0 Don\u2019t add them, apply for a separate account and collect the bonus.\u00a0 Most card applications ask for household income.<\/p>\n

Can I get a business card?<\/h3>\n

There are conflicting reports out there, but in many cases you can get a business credit card for a sole-proprietorship or a business you intend to start.\u00a0 They\u2019ll obviously expect to know how much you think your business will bring in and other pertinent details.\u00a0 Also, the spending limit will likely be lower. You don\u2019t necessarily need a tax-id number, though it helps.\u00a0 Read the fine print and if you feel comfortable, go for it.<\/p>\n

How do you manage all of your points?<\/h3>\n

There are some tools which are effective, though not comprehensive.\u00a0 Our favorite is www.awardwallet.com<\/a> , though it can\u2019t track all accounts in realtime.\u00a0 It\u2019s a great start and you can use it as a basis to get started.\u00a0 I also keep a google docs spreadsheet that I can update from anywhere. \u00a0All of my logins are with the same user id, email, and password.\u00a0 It makes it very simple to login and check in on rising balances.\u00a0 I\u2019m a little bit Scrooge McDuck with my points.\u00a0 I count them greedily. And I love, love, love playing with them to see what they can do for me.<\/p>\n

How do you manage all of the accounts?<\/h3>\n

I also have a Google Docs Spreadsheet that I keep the cards, bonuses, application dates, min spend requirements, renewal dates, and other details in.\u00a0 It\u2019s really handy and reminds me when I have a card I may need to cancel.\u00a0 I also set reminders on my Google Calendar.<\/p>\n

Most effective, though, is the brilliant online accounting genius of mint.com<\/a>.\u00a0 I can login to one database of all of my checking, savings, investment, retirement, and credit accounts.\u00a0 I can see that with my wife,\u00a0we’ve\u00a0had 23 open lines of credit, of which 11 are still open and 10 have zero balances.\u00a0 If the updating has problems, it alerts me so that I know the information is current.\u00a0 This tool is integral to the prudent management of all the accounts.<\/p>\n

When do you cancel a card?<\/h3>\n

I always try to cancel a card before I\u2019m up for any kind of annual fee in the coming month.\u00a0 I say \u201ctry\u201d because I don\u2019t always succeed. Often the CSR offers a bonus I can\u2019t refuse (one that more than justifies paying the fee), or offers to waive the fee.\u00a0 When that happens, I leave it open.\u00a0 Many cards now have automatic renewal bonuses \u2013 like Club Carlson\u2019s 40k points on anniversary.\u00a0 I like to stay in Category 2 hotels, so that\u2019s like almost 3 free nights a year for me.\u00a0 I\u2019ll gladly fork over $75 for that.<\/p>\n

When speaking with customer service, I am always extremely polite and ask for their help.\u00a0 You empower them when you ask kindly and they\u2019ll often do whatever is within their power.<\/p>\n

If I cancel a card, do I lose my points?<\/h3>\n

Bank points are bad when it comes to this.\u00a0 In the American Express Membership Rewards and Chase Ultimate Rewards programs, you will lose the points if you cancel the card before transferring them to another program or using them.\u00a0 Chase will also let you pool points through transfers between spouses and businesses.<\/p>\n

Most hotel and airline programs have a \u201conce they\u2019re yours, they\u2019re yours\u201d type of policy. They\u2019re buying your loyalty and any effort to claw that back would result in the exact opposite effect. If you\u2019re ever in doubt, call and ask first.<\/p>\n

Why do credit card companies offer such great bonuses?<\/h3>\n

Loyalty.\u00a0 That\u2019s what it all comes down to.\u00a0 The issuers are jockeying market share and they\u2019ll happily provide incentives to you if they feel like it\u2019s worth it. They buy these points in volume at a fraction of their value.\u00a0 They make a percentage of every purchase you make, so they want you to be a committed customer. Co-branded marketing with airlines and hotels also makes it cheaper for them to do as well. It\u2019s a big business and don\u2019t think they\u2019re not making money.\u00a0 It will help you feel better about being a credit-card polygamist.<\/p>\n

What\u2019s the catch?<\/h3>\n

We\u2019re still waiting to see what the catch is.\u00a0 Obviously the moment you fall into the trap of using credit cards as credit, you no longer benefit from the relationship. Please, steer clear of that one.\u00a0 Aside from that, we can\u2019t really say where the drawback comes in.\u00a0 Having been able to take my family to some amazing places at a fraction of a fraction of what it would otherwise cost, I can\u2019t tell you there\u2019s a hint of regret.<\/p>\n

What\u2019s in it for you?<\/h3>\n

We are building an army of WorldWanderlusters.\u00a0 More than anything, what we want is a following of adventure-hungry zealots who are going to seize the opportunities, make immortal memories, and tell their friends.\u00a0 We have an LLC, which we\u2019ve set up because we do make money when you apply for cards through some of the links we have on this blog.\u00a0 Almost all of that revenue gets rolled into trying to get our reach broader and deeper. At some point, we hope we could earn at least a supplemental income from the advertising on the blog, but in the meantime, we\u2019ll take followers over dollars.<\/p>\n

—<\/p>\n

Is there something we missed?\u00a0 Any remaining curiosities we can satisfy for you? What\u2019s holding you back.\u00a0 Don\u2019t be shy.\u00a0 We love questions. \u00a0Comment below and let us know what you’re thinking. We would love to help plan a trip for you. Wanderlust with us!<\/p>\n

\"Enhanced<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

{Today’s post is comprehensive coverage of WorldWanderlusting’s Frequently Asked Questions after this post wears off, we’ll turn it into a page where you can easily reference it in the future.} As you’re voraciously churning through the pages and posts on … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"jetpack_shortlink":"https:\/\/wp.me\/P1DhXV-1ci","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/worldwanderlusting.com\/index.php?rest_route=\/wp\/v2\/pages\/4606"}],"collection":[{"href":"https:\/\/worldwanderlusting.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/worldwanderlusting.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/worldwanderlusting.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/worldwanderlusting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4606"}],"version-history":[{"count":0,"href":"https:\/\/worldwanderlusting.com\/index.php?rest_route=\/wp\/v2\/pages\/4606\/revisions"}],"wp:attachment":[{"href":"https:\/\/worldwanderlusting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}