Monday, April 11, 2011

Opening Credit Cards for Miles!

Back in 2007, 2008, the good old days of easy credit, it seemed every other day a new $150 or $200 opening bonus would pop-up, and when they did I pop up, I sure took advantage of them... 

The name of game was churning, you would open a Credit Card, fulfill one or purchase and get a nice bonus in exchange, you would wait a few months, close the account and do it all over again....

Then I discovered Airline Mile Bonuses, they would offer 25,000 miles just for opening it. Those 25k promotions grew into 50k and last year the Mother of All Promos (MOAP) , a 100,000 mile bonus card, thanks to British Airways and Chase Bank.

This year, the game is back on, and it's easy to open up card and get miles... but there are two pre-requisites....
  • Good Credit: Above 700 FICO Score
  • Live in the USA , some promos exist in Europe, but snce I don't live there, I can't really comment...
Here are some links to active promos that  are really tempting: (Please note, I don't get any referrals from these links, they are public links)
There are several good sites to learn about these promo Fatwallet.com , Flyertalk.com and Milepoint.com all have Finance or Mile related forums. The best part about these promos is that miles are tax-free! so, you get a free ticket and once you have a decent amount of miles you can redeem them for premium cabin trips... I once redeemed 130,000 AA miles for  20,000 flown mile trip from New York to Hong Kong and then from Bangkok to Amman, Jordan to Athens, Greece to Budapest, Hungary to Warsaw, Poland to Helsnki, Finland to New York... this is a trip that would have cost some 19,000 dollars and I just got it using airline miles... :)

1 comment:

  1. Hi Andrew,

    We met today at the Bubble Battle NYC 2011 at Coney Island. Just wanted to know your facebook email? You can reach me with the email address asianwolf2001@hotmail.com.

    Thanks!

    ReplyDelete