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What to look for when applying for your next credit card

We've all seen the ads. It looks like an amazing credit card with tons of flashy promises and rewards that are ultimately crap.


Maybe you didn't get the utilization (spending limit) you had hoped for; maybe the bonus points you were hoping for are only redeemed at participating businesses outside of your location.


I’ve been there. It's frustrating, and probably kills your drive to seek out another one any time soon.


A good rule of thumb I've always tried to apply when applying for a new credit card is to avoid "low-hanging fruit."


These are some simple steps and questions I ask myself when deciding to apply for a new credit card.


What credit cards do I already have?


As you get serious with credit stacking, things can get out of hand if you're not frequently taking inventory of what you have.


I have a binder where I keep my cards so I know where everything is. Another great way to keep an eye on cards is to create a spreadsheet. This way you can organize all the cards you have and key details like dates you applied for the cards and what banks they're from. This will help you organize and see what benefits you're receiving from the cards.


If you realize you have too many hotel credit cards, maybe it's time to look into some credit cards that work with your favorite airline.


Investing all your points into one specific perk can sometimes be a wasted effort. What is the point of getting all those hotel points if you have to pay out of pocket for the plane ticket to get there?





What are your goals?


Failure to plan is planning to fail.


When you do your research, find out every single detail about the card you're considering. Some of the best benefits of a credit card will not be displayed on an initial level.


When you apply for your next card, it's important to ask yourself what your endgame is.


If you want to be an influencer on social media and travel around the world, invest in hotel and airline credit cards.


If you're trying to scale your business, look into credit cards that give you bonus points when you use them to pay for ads or at specific stores.


Doing your homework can be one of the best ways to prepare yourself for your next credit card.


Am I prepared with the right relationship manager?


A relationship manager is one of the key aspects of applying for a credit card.


They are the ones who can help you get a really high utilization on your cards and want to help you do that, you just need to be prepared for them.


Good preparation begins with developing a good relationship with them. Start asking them questions and find out what they look for with a successful application. Doing this will help them realize you can handle a high spending limit.


In my Credit Stacking mentorship, I go over all the other essential details needed to succeed when you're applying for your next credit card.


Your next big idea is right around the corner. Do your part to do the proper research and find the true rewarding credit cards. Let my Credit Stacking mentorship help you push through all the obstacles most entrepreneurs face when getting started.


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