I get this question a lot. When I tell someone about a great deal I got by using points and miles, they want to know how they can get started. But explaining it is like speaking in a different language. I was a lurker for years before finally completely getting into points and miles. If I try to simplify it for them, they usually (ok, always) don’t want to put in the time to learn. It is complicated but there are basics you can learn to start you on your journey.
What should my first card be?
It depends. That is my least favorite answer and yet there are such a variety of cards, you have to look at all of your spending and your travel goals. I will say that overall, some kind of Chase card is usually the first one you should get.
Chase 5/24 rule
The reason a Chase card should usually be the first card you get is because they have the 5/24 rule. This means that you can’t have opened more than 5 personal cards in the last 24 months. This is any 5 personal cards, not just Chase ones. Once you get the hang of hacking and applying, that limit can be reached very quickly, and Chase has some of the best transfer partners and sign up bonuses around, so you want to have space open for them as long as you can.
Ok, so what should my first card be?
If you’re dipping your toe in, that first one should probably be the Chase Sapphire Preferred. With its low annual fee and large bonus, you can use those points in a variety of ways that will help you no matter what your travel goals. For example: you can use the current Preferred bonus to stay 5 nights at the Hyatt Place Waikiki, where up to a family of 6 can stay in one room and free breakfast is included. It’s a 3 minute walk to the beach. Or you can transfer your points for a roundtrip economy flight to Europe.
Some questions to ask to find out what your first card should be
- Do I pay my bills in full each month? (the only way travel is free is if you pay your bills!)
- What is my monthly spend?
- What are my travel goals?
- What airlines do I usually fly?
- How many people am I looking to travel with?
The points and miles world is complex. Hopefully this (extremely quick) peek will help you begin your journey. Look for more information coming soon!
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