Hello!
I’m looking to book a trip from Canada to Jamaica.
My partner and I have been really good at getting credit cards that have zero interest for house projects, paying them off within 6 months and cancelling them.
We want to do the same with an upcoming trip.
Wondering if this is something others do? Book the trip say for 6K – pay it off your own ways within 6 months. We both have side jobs and the money we make from those, we put on the card.
Looking for recommendations- I know there are travel cards with amazing bonuses like travel insurance/trip cancellation (which saves us from using the airline cancellation insurance fees)
But I find they are big on interests rates(makes sense)
Thank you for your knowledge.
Credit Card/only for Trip help
byu/Barbarella93 inCreditCards
Posted by Barbarella93
2 Comments
We don’t have to cancel the expired zero interest cards. Might send us another offer after their previous good experience with us.
> paying them off within 6 months and cancelling them.
Have you been closing them within 6 months after opening, just to take advantage of the promo period? Pretty typical churning, though just poorly executed if this is the case.
You may find yourself on the blacklist for many lenders moving forward, which may hamper any recommendations you get. Lenders will often flag you if you close within one year, which is why the unequivocal recommendation is to wait at least a year if you care about your relationship with a given bank.
That aside, there are tons of bonuses out there. Would help to know what cards you have, what you’re interested in, etc…basically what the !template suggests.
> But I find they are big on interests rates
The only interest rate to care about is 0%. If you’re worried about interest rates higher than that on a “premium” card, then you shouldn’t be using a credit card and interest is negating any benefit you get.