May 2, 2024
The Truth About Rewards Cards and Your Credit Score
Episode Description
One of the biggest mistakes people make in the world of credit card points is only having one points-earning card. It can be advantageous to have a few or even many rewards credit cards to optimize the amount of points you can earn. But invariably, this raises a common question: won’t opening up a bunch of new credit cards damage my credit score?
This concern is understandable. You want to maintain a strong credit score, so this week, I’m walking you through the patterns that influence your credit score, and diving deeper into exactly how much of a difference each of these factors makes.
Tune in this week to understand what contributes to your credit score, the short-term and long-term impact that applying for new credit cards has on your score, and how to protect your credit score while continuing to get more rewards credit cards.
What You’ll Learn from this Episode
- 5 main factors that influence your credit score.
- Why each of these factors do not influence your credit score equally.
- How applying for rewards cards can impact your credit score, but not as much as you might currently think.
- What you can do to predict the impact on your credit score of opening new credit accounts.
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Point Me to First Class is the show for professionals and business owners with higher-than-average personal or business expenses, who want to learn to leverage these expenses into credit card points they can spend on travel.
Each week, I share valuable tips, tools, and strategies to help you uplevel your skills earning and redeeming credit card points, so you can expand your travel and expand your experiences.
