{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/69c148bb1a160b44db9c8fcc/6ada819c70af2b1aa7464242?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"6 rules for chasing credit card sign-up bonuses (SUBs)","description":"<p>1062. Are massive credit card sign-up bonuses (SUBs) really worth chasing? Or do they actually hurt your credit? Host Laura Adams explains the real impact of opening credit cards for sign-up bonuses, closing accounts shortly after, and managing multiple cards. You’ll learn six strategies to maximize card rewards, control your credit utilization, and protect your credit scores.</p><p><br></p><p><strong>Key Takeaways</strong></p><ul><li>Only chase a high-value sign-up bonus if you can reach the spending threshold with routine, planned purchases. Buying unnecessary items or carrying a balance with high interest charges wipes out the rewards.</li><li>Applying for a card results in a temporary hard inquiry check, but adding a new credit line increases your total available credit, which lowers your overall credit utilization ratio and boosts your scores over time.</li><li>Canceling a card shortly after earning and spending a bonus can cause your credit utilization ratio to spike.</li><li>If you want to cancel a card with a high annual fee, consider downgrading to a less expensive one in the same card family to keep your credit limit intact.</li><li>Inactive cards can be closed by issuers, or they can cut your credit limit. You can keep cards active with a small recurring charge or an occasional charge to preserve your credit.</li></ul><p><strong>Episode 1040: <a href=\"https://shows.acast.com/money-girl/episodes/canceling-credit-cardssmart-move-or-credit-mistake\" rel=\"noopener noreferrer\" target=\"_blank\">Keep your cards active</a></strong></p><p><br></p><p><strong>Discover more from Money Girl!</strong></p><p><u><a href=\"https://www.facebook.com/MoneyGirlQDT\" rel=\"noopener noreferrer\" target=\"_blank\">Facebook</a></u></p><p><u><a href=\"https://www.quickanddirtytips.com/money-girl-newsletter/\" rel=\"noopener noreferrer\" target=\"_blank\">Newsletter</a></u></p><p>Transcripts available at <u><a href=\"https://www.quickanddirtytips.com/transcripts/money-girl/\" rel=\"noopener noreferrer\" target=\"_blank\">QuickandDirtyTips.com</a></u>.</p><p>Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.</p>","author_name":"QuickAndDirtyTips.com"}