Is It Still Possible to Make Lots of Rewards Points from Credit Cards?

July 23rd, 2015 Posted in Credit Cards|Rewards Cards|Debts

Rewards Points Opportunity Still Exists

Rewards Points Opportunity Still Exists

In the past, credit card rewards points explorers were able to take advantage of juicy sign-up rewards bonuses over and over from the same cards and various different cards. However, some credit card companies closed the loophole that existed and others are working on closing it.

If you check the footnotes underneath credit card profiles on issuers’ websites, you will see that some of them are started to add something like this: Bonus offer is applicable to new members only. If you have held this card in the past, we may still approve your application, but will not reward you with any bonuses.

So this raises the question: Are the rewards points parties that existed until now all over? The answer is actually surprisingly both yes and no. Yes in the sense that like many points explorers did in the past – opening 5 to 10 accounts every year to rack up rewards points and then close those accounts after 3 months and then reopen them again to continue this rewards points party cycle – again and again are over. Credit card companies became aware of these parties and are closing the loopholes that existed.

However, the other answer is – no, it is still possible to make decent rewards points from bonuses every year and year after year. Slow and steady process is the key here and if you carefully apply for one credit card every six months, you can still make decent points without damaging your credit score.

But to succeed with this slow and steady process, there are other details you need to carefully consider and that’s what I will talk about in my upcoming book Credit Card Hacks: What Credit Card Companies Don’t Want You to Know. A full chapter will be dedicated on how to travel for free or with very little money from rewards points. Stay tuned for more once the book is published.

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