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November 11th, 2011 at 10:37 am

I am officially approved for another $250 reward card.

Plan of action is to charge home insurance when I receive the card. Pay off card December 1. Redeem rewards. Close card.

I believe the reward was CASH!


This may be the 6th credit card I have applied for this year. (Though, to be fair, I closed 3 credit cards, too. So my number of open accounts is not overly high).

I have never been denied for any loan or credit I have ever applied for. Of course, being rather anti-debt, I don't apply/use much credit in the grand scheme of things.

But, 6th card in one year? I wasn't feeling overly confident about approval. Though I have said my credit card reward activity seems pretty small beans compared to some others. I am sure it is possible that nothing about my credit report would make any credit card company blink - even if I opened 10 cards or more... But it's just getting to the point for me where it sounds kind of ridiculous. & so I will keep opening these credit cards, until I get denied.

Interestingly, they have been so *one at a time* in recent months that I haven't done much to keep track of all these cards. Open, charge, payoff, reward, close. Repeat. I have been managing this all in my head. I stopped putting the cards in Quicken. It was really mucking it up. Especially when it comes to these "one charge for reward" cards. (Of course, I have all the deals in writing, etc., to dispute any problems. & Quicken and online bill pay at my CU has helped me manage. Instead of setting up every credit card entirely in Quicken, I just put the payments when I want to pay them, in my Quicken checkbook. Between that and oreceiving online bills - from both cc companies and my CU - would be impossible to forget).

$4,000, here I come!!

4 Responses to “Approved”

  1. Frügal Says:

    I believe it was you who posted about the Chase Freedom card. And, as a result, I got one.

    I have not kept tabs on your blog, but you've opened six cards this year, eh? And you just use them for the initial bonus? (And then pay them off, obviously.) Then what do you do with them?

  2. Petunia 100 Says:

    Which credit card is this latest one? I might want to apply too.

    I don't seem to get these offers in the mail, I have to hunt for them.

  3. MonkeyMama Says:

    "Then what do you do with them?"

    Close the cards.

    This year has been extra unusual because I opened two cards to keep for ongoing rewards. (Closed my old Chase Freedom - the old rewards were good for a very long time, but now they kind of suck). So, those are the only two I plan to keep. But yes - the rest were just for one-time rewards. My spouse also opened 3 cards for one-time rewards.

  4. MonkeyMama Says:

    @Petunia - the latest was some American Express gold offer. I got it in the mail so it isn't nearly as good as you can find elsewhere.

    This is the *only* credit card offer *I* got this year in the mail. Though I might have tossed/shredded several without looking at them. I still forget, sometimes. This one I just happened to remember to open - and it was GOOD! Big Grin

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