I have been in the “game” for a long time I have had almost every travel card that has ever been open to the public and some that are REALLY hard to get. The above, The City National Bank Crystal Visa Infinite Credit Card, is one of those cards that most simply can not be approved for due to income and net worth requirements. But, if you can, you want the card! Why? Because the card, with all it’s staggering perks, pays you back to hold it every year!
But there are many more to consider and they each have issues. With Chase it is the horrid 5/24 rule that means if you have applied for more than 5 credit accounts in the past 2 years you are flat out going to be turned down for most new cards. What can you do?
- Problem: 5/24!
- Solution: Stop applying for credit for 2 years?
This sounds simple but it is not a perfect fix. You are missing out on a bunch of other cards that could provide even more value than waiting for Chase to “bless” you with their cards again for you waiting for 2 years to get new cards. But the cards are sweet like:
For some strange reason, many do not go for business cards (even if you simply buy/sell now and then on Amazon / Ebay as a sole proprietor). I have, since day one, always gone for both personal and business cards. In fact, some of the best ever new card offers – both now and in the past – have come from business cards. But with Chase a few years ago rolling out their 5/24 rule it has become all but impossible for most readers to be approved for amazing cards like the Chase Ink Business Preferred℠ Credit Card offering a huge 80,000 bonus points (LEARN MORE ABOUT BUSINESS CARDS HERE).
The same deal goes for the Chase Sapphire Reserve® (LEARN MORE ABOUT POINTS CARDS HERE). I love love love (did I mention love) being able to pool all of my wife’s and my Chase Ultimate Rewards points into my Chase Sapphire Reserve card to either send them to other programs or to spend them at 1.5 cents each when booking a spectacular cruise in a suite. 50,000 bonus points is a rock solid offer (if you can get them that is).
Yet another bank that has REALLY become stingy on approvals is Barclays. They used to be super simple and I have gone through the same card over and over for years. Not anymore! They are not as nasty as 5/24 but they do not like many recent credit pulls. But this is a card you NEED to hold if you can get it, that is, the Barclaycard Arrival Plus® World Elite Mastercard® (LEARN MORE ABOUT TRAVEL REWARDS CARDS HERE). Not only is the HUGE 70,000 bonus point new card offer the biggest EVER in history, but this card is a true chip & pin card and works all over the world in automated machines – that is a life saver for my travels (see why you want this). Plus, for now, they are somewhat accepting of creative spending to earn points! Are there other cards hard to work with? Yep!
- Problem: Pull from all 3 credit burrows!
- Solution: Limit your credit requests for a while?
Again, like Chase and Barclays, Capital One does not like to see too many credit requests over the past year or two and to make sure they know the facts about you, they pull from not just one credit bureau, like most banks, but from all three. This makes approval not as simple as other cards but look at the stunning offer:
These business cards, two of them, you are also unlikely to get approved for and that is a shame due to the $2,000 or 200,000 point bonus offer (after mega spend). That is a shockingly amazing offer and I have never EVER in all my years of blogging seen a new card offer this stunning. The problem with these cards, Capital One® Spark® Cash for Business and Capital One® Spark® Miles for Business (LEARN MORE ABOUT BUSINESS CARDS HERE) is they are not kind to those who engage in creative spending to reach your spend goals. But if you have real spend or expenses (maybe taxes etc.) this could be a huge payback for using this card!
OK this last one is relatively simple to get (for now) that is, the CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® (LEARN MORE ABOUT BUSINESS CARDS HERE). It is a sweet bonus and I have found having a large stash of AA points on hand when needed a really nice thing to have. So, if after trying for the above cards and getting many “NOs”, this is at least a card to enjoy and make yourself feel better!
What do you think of the current state of the “game”. Are you bummed that many of the best cards are outside your reach? Have you been approved for any of the above? Are you simply still getting tons of cards each year and instead going for other cards that are simpler to get instant approval for? – René