AwardWallet may receive compensation from advertising partners when you visit our site, click on a link, when you are approved for a credit card, or when an account is opened. Terms Apply to the offers listed on this page. Enrollment is required for select Amex benefits. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here’s our complete list of Advertisers.
Learning how to use points and miles can be intoxicating — especially when you realize exactly what kind of travel you'll be able to do with these rewards. After all, travel rewards can take you to far-flung islands in first class — sometimes for less than cost of the glass of champagne you receive at boarding.
It can be tempting to go all in on credit cards, but using points and miles is a long game. The right credit card strategy helps you earn consistently and redeem effectively over time.
Here’s how to plan a sustainable approach and keep earning rewards long after your first welcome bonus.
Page Contents
Decide Where You'd Like To Go
The first step — and one of the most important — in building a credit card strategy is deciding where you want to travel. Too often, people open cards that don’t align with their goals.
For example, say you want to plan a trip to Europe and want to use points and miles to reduce the cost.
It’s tempting to open a co-branded Hyatt card, for example, especially since it’s one of the most well-loved programs in the points and miles world. But that isn’t always the best move. While Hyatt has some fantastic properties and strong redemption value in major European cities, options can thin out quickly once you head beyond those main destinations.
So before opening a credit card, figure out where you want to go. From there, you can focus on the programs that actually fit your destination and choose cards that support your trip.
Research Credit Card Issuer Restrictions
Opening your first couple of credit cards is easy. With relatively few inquiries on your credit report and a limited number of new accounts, most issuers will approve you if you have good credit.
But that can change quickly once you start implementing your credit card strategy. That’s because each issuer has its own rules limiting how often you can apply and be approved.
For example, Chase's 5/24 rule limits you from getting a new Chase card if you’ve opened five or more credit cards (from any issuer) in the past 24 months.
Strategize Which Cards to Open First
Of course you should open credit cards that align with the trip you’re planning, but there’s more to it than that. You need to understand issuer restrictions. That way you'll know which cards you should prioritize opening — and when — so you don’t accidentally lock yourself out of valuable options.
This is especially important when you're trying to build a long-term credit card strategy. Without a plan, it's pretty easy to unintentionally limit your future options and ultimately miss out on better opportunities.
Let's say that you decide to open two new airline credit cards to book a trip to Europe — one from United and one from American Airlines. You also open a new co-branded Hilton credit card since you've seen that there are plenty of Hiltons in Europe.
After earning the welcome bonuses and booking your trip, you might not have much reason to keep using those cards — and that’s okay. In many cases, co-branded cards are most valuable for their initial bonus or for a specific trip.
But that doesn’t mean every card you open should fall into that category. A strong credit card strategy also includes cards you can continue using long after your first vacation ends.
Cards that earn transferable points are especially good for this, as the rewards they earn can be converted to numerous hotel and airline partners. These currencies include:
- American Express Membership Rewards
- Bilt Rewards
- Capital One miles
- Chase Ultimate Rewards
- Citi ThankYou® Points
- Rove Miles
- Wells Fargo Rewards
Related: Back to Basics: An Introduction to the Types of Reward Points
Be Intentional About Opening New Cards
Because issuers limit how often you can earn welcome bonuses and get approved for new cards, it’s vital to be selective about what you open.
That can be tough, especially during the excitement of opening new cards. But keeping your overall card count in check has two key benefits.
First, some credit card issuers like Chase will lock you out after you've opened too many cards. Staying below this threshold leaves the door open for a new Chase card, including any of the issuer's excellent business credit cards.
Second, annual fees can add up quickly. If you’re not paying attention, holding multiple premium cards can easily cost hundreds — or even thousands — of dollars each year. That isn’t always a bad thing if you’re getting value — but it reinforces why being selective matters in the first place.
Related: I Pay $2,724 a Year in Credit Card Annual Fees and Come Out Way Ahead on Benefits — Here’s How
Maximize Your Everyday Spending
Long-term value comes from more than just sign-up bonuses — it’s also about how your cards perform on everyday spending.
For example, if your family spends a lot on dining, using the United℠ Explorer Card might seem like a solid option at 2X miles per dollar. With United miles valued at around 2¢ each, according to recent AwardWallet user redemption data, that’s roughly a 4% return on dining.
But a card like the American Express® Gold Card earns 4X points at restaurants. With Amex Membership Rewards points valued at 1.99¢ each, you’re effectively doubling your return — plus gaining the flexibility to transfer those rewards to a much more diverse set of airlines and hotels.
Consider Business Credit Cards
Business credit cards can be a useful way to expand your wallet without affecting your approval odds for future cards. Most don’t show up on your personal credit report, so opening them typically won’t count against you with issuers like Chase and Bank of America that are sensitive to new accounts.
And you don’t need a formal business to qualify. Freelancing, selling online, or even occasional side-hustle income can be enough, and you may already be eligible.
That makes business cards a low-risk way to add to your lineup. There are even plenty of no-annual-fee business credit cards, making them an easy way to add another card without increasing your cost.
Beyond earning rewards, using a business card can help separate business and personal expenses, simplifying things at tax time. Many also offer bonus categories tailored to business spending, like advertising or shipping — areas where personal cards often fall short.
Cull Your Unused Cards
Not every card you open is meant to be a long-term keeper, and it's important to know when it’s time to move on.
Some cards are worth holding for specific perks, even if you rarely use them. For example, the The World of Hyatt Credit Card offers an annual free night certificate that can easily offset its $95 annual fee.
But if you’re paying an annual fee without getting enough value in return, it may be time to let the card go.
Related: You Shouldn't Cancel a Credit Card Within Your First Year of Membership. Here's Why.
How Long Does a Credit Card Strategy Take To Build?
How quickly you move is up to you. But remember that this is a long-term strategy and not a race.
It might sound appealing to earn a huge stash of points in a short time, but that’s not always the best approach. Points and miles devalue, so it’s better to earn rewards with a plan to use them sooner rather than later.
Building the right card portfolio takes time. You’ll need to consider how much you can spend each month, where you spend the most, how you plan to use your rewards, and how much you’re comfortable paying in annual fees. You’ll also want to decide how much effort you’re willing to put into managing your cards.
In most cases, spacing out new applications is key. Many cards have a minimum spending requirement within about three months, so opening a new card every few months is a realistic pace — and sometimes even slower, depending on your situation.
Over time, your setup will continue to evolve. New cards launch, benefits change, and your own spending habits shift. The goal isn’t to “finish,” but to keep refining your strategy as your needs change.
Related: Start Here for Collecting Points and Miles for Free Travel
Bottom Line
Building a long-term credit card strategy requires balance. And you'll be best off thinking long-term even when you're just getting started. By focusing on the cards that fit your spending and consistently deliver value, you can keep earning rewards while still leaving room to open new cards over time.
And remember: The goal isn’t just to earn points, but to redeem them. That's why having a travel goal in mind will help guide your strategy and ensures your rewards don’t sit unused.
