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Easy Three Year Plan for Points: Earn 1.5 million
For this post, I’ve mapped out a strategy for a one or two person household that will take you through your first three years. If you’re new to points, it can be hard to start to conceptualize how to map out a credit card opening strategy.
Which cards make sense when? How does being in a two-person household affect your strategy? How do you take into account bank rules?
My plan helps balance the cards between both partners in a household. You’ll be opening 5 cards each year. Each person will stay under 5/24 the whole time. And you’ll also earn a Southwest Companion Pass. If you don’t want a Southwest Companion Pass, you can substitute other airline cards!
This plan is for you if you want to spend less time deciding which cards to get.
You can move cards around and adjust as you need to. I’ll explain my methodology below so you understand my reasoning.
First Card: Chase Sapphire Preferred® Card
One common mistake is to just start earning credit card welcome offers randomly and then when you go to book a trip, points are scattered and it’s hard to pull them together into a trip.
In my plan, you’ll focus on earning with one primary bank program at the beginning. I recommend Chase Ultimate Rewards®. This is due to the ease of using the program, the wide variety of transfer partners, the large number of cards that you can open to keep earning Ultimate Rewards, and the generous referral bonuses. Chase also has some very clear restrictions (known as the Chase 5/24 rule) – so this plan takes that into account and lets you prioritize these cards first.
You’ll start with the Chase Sapphire Preferred® Card. This is all around the best beginners card out there.
Learn More About Chase Sapphire Preferred
- Article: Guide to Sapphire Preferred
- Article: Why I recommend starting with this card
- Podcast Deep Dive: Season 1 of my podcast goes deep into this card’s benefits and how to get the most out of its points. You can listen to “Points for Normal People” on all major podcast platforms or find it on YouTube. You’ll learn the most if you listen to Season 1 sequentially, starting at Episode 1!
- Article: 20+ Ways to Use Ultimate Rewards
Application Notes
You’ll need to qualify under the Chase 5/24 rule in order to be approved for this card. Essentially if you have 5 or more newly opened cards showing up on your credit report in the past 24 months, you will be denied. That’s one reason this card is important to get early on.
Alternate Card Option
You could choose the premium version of this card in lieu of this one. That would be the Chase Sapphire Reserve®. It provides more perks like airport lounge access. Most people will get some airport lounge access with our 2nd card in the plan, the Capital One Venture X Rewards Credit Card. But if your home airport has a Sapphire Lounge, this may be a better option. Read about lounges here and which airports have Sapphire Lounges.
If you aren’t sure — know that you can always get a Sapphire Preferred and upgrade later to a Sapphire Reserve.
Year 1 Continued
Add Travel Perks with the Venture X
The second card I suggest is the Capital One Venture X Rewards Credit Card.
If you’re in a two person household, I also suggest that the second person (P2 as we often call him/her) be the one to get this card.
The reason this is a good one to get very early on is it can be harder to get Capital One to approve credit cards.
Unlike with Chase, we don’t have a clear “rule” but generally it seems like Capital One doesn’t like to see lots of other recent credit inquiries. The more cards you get, it seems less likely you’ll get approved for this card.
This isn’t a hard and fast rule and I was approved for the Venture X when I was at 8/24.
The Venture X has the best all around value when it comes to perks compared to the annual fee. It will give you a credit for Global Entry or TSA Precheck so you can start to shorten your wait at security and keep your shoes on. It has some of the most generous benefits on access to airport lounges (at select lounges). It gives you cell phone protection if you pay your cell phone bill with it. And more!
Learn More About Venture X
- Article: Guide to Capital One Venture X Rewards Credit Card
- Podcast Episodes: Season 2 of my podcast has a full episode on this card’s benefits and how to get the most out of its points. You can listen to “Points for Normal People” on all major podcast platforms or find it on YouTube.
- YouTube: Venture X Must Dos for Top Value
Application Notes
Capital One is finicky about approvals, especially if you have a lot of inquires on your credit report. Now this isn’t always true, some people with lots of new accounts do get approved.
Your chance of approval seems to increase if you check the box that says “I plan to carry a balance on this card.” Of course you should never actually carry a balance but this question is non-binding and seems to indicate Capital One prefers to approve people who they can make lots of money off of on interest.
Alternate Card Option
If you’re not ready to pay a higher annual fee — or if you already have perks like lounge access through a different card, you could look at the Capital One Venture Rewards Credit Card. Like the Venture X, you’ll find it much easier to get approved early in your travel points journey. The Venture has a lower annual fee and still earns Venture miles with all their different uses!
Open an Ink Business Card
The next cards I recommend are business cards. Think you can’t open a business card? You probably can! Almost everyone has some sort of side income that qualifies them for a business card in the eyes of the bank. Do you sell old toys on Facebook marketplace? You qualify. Do you have a rental property? You qualify. Are you a consultant, tutor, dog walker, writer, babysitter? You qualify. Read more here.
Business cards have some distinct advantages. First, they are good for your credit score. When you apply for a business card from Chase, you will see an inquiry on your credit report, also called a “hard pull.” But the actual credit card account won’t appear on your credit reports. That means if you cancel the card after a year, it won’t affect your length of credit history at all. Because these business cards don’t show up on your credit report, they also don’t add to your 5/24 count.
Again, I recommend that you stick within the Chase Ultimate Rewards ecosystem at first to learn the ins and outs of this one program. Besides the value of this program, it’s easier to plan trips when you aren’t dealing with lots of smaller points balances split across programs.
In the plan, I recommend the Ink Business Cash® Credit Card first. You could open any of the three Ink cards. I chose the Ink Cash first because you have a longer time to do the full spending to earn the offer.
Note: When you look at the welcome offer on the Ink Business Cash® Credit Card or Ink Business Unlimited® Credit Card, it will show up as cash back. So it might show as $750 cash back.
Technically though, it really earns a version of Chase Ultimate Rewards® that can be only be redeemed as cash back. But there is an important exception! Pair your Ink card(s) with a Chase Sapphire Preferred® Card and you can transfer your points to any of Chase’s airline and hotel transfer partners.
After you earn either of these offers, you’ll combine your points with the Sapphire card you already opened.
Learn More About Chase Ink Cards
- Article: Guide to Ink Cash and Ink Unlimited (no annual fee cards!)
- Article: How (almost) anyone can open a business card
- Podcast Episode: Keep earning Ultimate Rewards forever
- YouTube: Application Tips for Ink Cards
- YouTube: Business Application Walk Through
Application Notes
I have a video walk through of an application over on YouTube for first time applicants of a business card. People in my facebook group have reported being approved for a resale business where they make as little as $50 a year.
You do need to be under 5/24 to qualify for these cards.
Alternate Card Option
You can open any of the Chase Ink cards. I put them in order according to how easy I think it is for the average person to complete the spending requirements. But if one has an elevated offer, you may want to prioritize that one.
No annual fee options:
With annual fee:
Refer your partner to a Sapphire Preferred
When you refer a friend (or family member) to certain cards, you can earn a referral bonus. The “two person” plan includes a lot of referrals back and forth. The one person plan does not. If you are single, you may be able to team up with a friend for referrals back and forth! I did not add in referrals to the one person plan.
With the Chase Sapphire Preferred, the referral bonus is currently 10,000 Ultimate Rewards points.
You’ll refer your P2 (or Person 2) to this card so they can earn a bonus – and then the P1 (Person 1) will also get a referral bonus.
You’ll be able to combine your points across your household as well.
Year 2: Airline Miles, Hotel Points + More Ultimate Rewards
First Stop: Airline Points
Next, you’ll want to start earning extra points with a specific airline.
Our personal Favorite: Earn a Southwest Companion Pass
We recommend the Southwest Companion Pass because not only do you earn a bunch of points, you also earn a Companion Pass if you use our strategy! With the Southwest Companion Pass, you designate a person as your Companion and they fill with you for FREE (well the cost of taxes) anytime you fly on Southwest for the next year.
Whenever you earn a Southwest Companion Pass, you’ll earn it for the rest of that calendar year and the whole next year as well. While you can get a few more months of the Companion Pass by starting the process in November – that method requires some more planning. If you start in January, it’s easy to follow without worrying about timing.
I have a lot of resources specific to the Companion Pass. The short version of how you do it is that you’ll open one business and one personal Southwest card. This will give you more than 135,000 Southwest Rapid Rewards points which also earns you a Companion Pass.
Most people are near an airport that Southwest serves and pursuing a Southwest Companion Pass really simplifies your decision making process.
Learn More About Southwest Companion Pass
- Article: Tricks to Earning a Southwest Companion Pass
- Podcast Episode: How to earn a Companion Pass
- Free Course: (see last module)
- YouTube: Earn 2 Companion Pass with 3 cards
Application Notes
If you’re apply in late fall, timing is really important to pay attention to with the Southwest cards. In the written plan below, I put the application for these cards in early January — but you could open in other months! Be sure you understand the overall Companion Pass strategy. That will help you confidently know when you can plug this into your strategy.
My free course also details a method for earning 2 Companion Pass by opening 3 cards and families will want to look at that information.
You need to be under 5/24 to qualify for these cards.
If you really don’t like Southwest, you can pursue other airline cards. But don’t go all over the place! Focus on ONE airline. Just like with Southwest cards, you could open a business card for that airline and then a personal card.
Don’t like Southwest? Earn other airline miles
After Southwest, my next recommendation is generally American Airlines. This is what’s included in my one person plan. If you’re just one person, you could bounce around a lot more with airline cards, especially if you’re just opening cards for your own travel. Most airline cards will typically cover at least one round trip ticket.
There are two banks that issue cards for American Airlines (Citi and Barclays) as well as lots of other opportunities to earn American Airlines miles via American’s eshopping portal.
If you’re going to earn American Airlines miles instead of Southwest, you could start with the CitiBusiness® / AAdvantage® Platinum Select® Mastercard®. Then move to the AAdvantage® Aviator® Red World Elite Mastercard.®
Two Person Strategy: Refer back and forth for Ink Cards
Now that you have one Ink card in your household, the referral fun can begin!
Ink cards currently offer a 20,000 point referral bonus. Ink cards also offer “family” referrals which means if you hold ANY Ink card, you can refer a friend to ANY Ink card.
So when P1 refers P2 to an Ink Business Cash® Credit Card or Ink Business Unlimited® Credit Card, you’re earning a 20,000 point referral bonus on top of the welcome offer.
Then P2 can turn around and refer P1 to an Ink card that’s different from the one he/she got the first time.
Open a hotel card
Overall, we recommend starting with Hyatt as your primary hotel program because it is easy to understand and has consistently good value.
I can tell you right now that the Hyatt credit cards (especially the personal card) usually have very boring welcome offers. Yet we consider this card a keeper because we earn a free night certificate (for a Category 1-4 hotel) each year on our account anniversary. We pay $95 for the annual fee but typically redeem this for a staycation in Chicago at a hotel that costs $250-$300 so we consider it a pre-paid, discounted vacation.
Opening other hotel cards (especially during elevated offers) can easily cover a 3-5 night stay. The Marriott Bonvoy Boundless® Credit Card is a popular option (The information related to the Marriott Bonvoy Boundless® Card was collected by Katie’s Travel Tricks and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see the issuer website for current information. Katie’s Travel Tricks does not receive commission for this product.), as is the IHG One Rewards Premier Credit Card. Ultimately, you need to go with a hotel program that has a place you want to stay. We have found hotels we like in every single hotel program.
You might want to prioritize business cards to stay under 5/24. You can also look at business cards from other banks that earn hotel points – like The Hilton Honors American Express Business Card from American Express, the Wyndham Rewards Earner® Business Card from Barclays, or Marriott Bonvoy Business® American Express® Card.
I think it can help to be opening a business hotel card from a bank that isn’t Chase at first so you’re diversifying the banks you’re getting cards from.
Year 3: More referrals, More new Cards
Year three of this plan helps you to keep earning and referring each other. It also focuses on doubling down on the kinds of points you have and earning more of them.
You’ll open more Ink cards (yes, more – these are so valuable!).
This is a good time for P1 to get a Venture X card (with the P2 referral). This would enable P2 (the original owner of the Venture X) to downgrade the Venture X to a no annual fee version so you aren’t pay that annual fee twice.
Capital One sometimes won’t let you downgrade if you don’t call right before the date your annual fee is due, so watch this part of the timeline closely. P1 may want to apply a few weeks before the date that P2 will be charged the Venture X annual fee.
Alternatively, P1 could also open a Venture card if P2 wants to keep the Venture X.
I’d also recommend the P2 opens a hotel card this year. If you were happy with whatever P1 picked in Year Two, they can probably refer P2 to the same card! Or if you have a specific travel plan in mind, pick another hotel card.
One of the new cards I recommend this year is the Ink Business Preferred® Credit Card. This card is pretty similar to the Chase Sapphire Preferred, but in business version. It does typically require a higher spend to get the points – recently it has been about $8,000. This is one that you’ll want to time according to when you have a bigger expense.
One Person Plan Notes
The one person plan focuses even more on business cards since opening business cards helps you stay under 5/24 longer. It also gives you more flexibility to pick cards within a category.
How to Accelerate the Three Year Plan
If you want to move faster than my plan, you can! You’re just going to need to keep the following in mind.
Velocity With Chase
I don’t recommend you apply for more than 4 cards from Chase in any given 12 month period. Space out your cards and apply for cards from other banks, too.
Watch your 5/24 Count
My plan keeps you under 5/24 at all times so that you always have the option to apply for Chase cards. I love the flexibility to do this when a great offer comes out — especially it matches with some bigger spending I have coming up. You can add in personal cards to this plan, but just be mindful of how that will affect your 5/24 status.
Jump on Elevated Offers
Sometimes a great elevated offer comes around and you want to grab it! You can see all my current favorite offers here.
Apply for Business Cards from Other Banks
This is my personal favorite way to add more cards into my wallet (and more points into my loyalty accounts!)
You can look at the following cards, none of these should add to your 5/24 counts:
Capital One
American Express
Look for referral offers on business cards that earn Membership Rewards here.
American Express also issues co-branded business cards for Delta, Marriott, and Hilton.
Citi
Citi doesn’t have many business cards but does offer one that earns American Airlines miles that is a great one to get.
U.S. Bank
US Bank business cards generally offer cash back. These may still be worth it while you’re waiting to open other cards. See their offers here.
Bank of America
Bank of America issues a co-branded Alaska Airlines business card as well as cards with smaller cash back or points bonuses. See them all here. Bank of America is most likely to approve you if you have a checking account with them.
Barclay
Barclay has a few co-branded cards. You can see them here.
Chart of Three Year Plan: Two Person Mode
Sample Plan: Two Person Three Year Plan
| P1 | P2 | Typical Offer | Points earned from spending | |
|---|---|---|---|---|
| YEAR ONE: Earn 302,000 points | ||||
| January 1 | Opens Sapphire Preferred | 60,000 points | 4,000 points | |
| March 1 | Opens Venture X | 75,000 miles | 8,000 miles | |
| June 1 | Opens Ink Cash | $750 (75,000 points) | 6,000 points | |
| September 1 | Opens Sapphire Preferred with P1 Referral | 60,000 points, 10,000 point referral | 4,000 points | |
| Points earned in Year 1 | 155,000 Ultimate Rewards | 83,000 Venture miles | ||
| 64,000 Ultimate Rewards | ||||
| 5/24 status at year end | 1/24 | 2/24 | ||
| YEAR TWO: 507,000 points | ||||
| January 1 | Opens Southwest Business card | 80,000 points | 5,000 points | |
| January 1 | Downgrades CSP to no annual fee card | |||
| February 1 | Opens Southwest personal card | 50,000 points | 1,000 points | |
| March 1 | Opens Ink Unlimited with P1 referral | $750 (75,000 points) + 20,000 point referral | 9,000 points | |
| June 1 | Opens Ink Unlimited with P2 referral | $750 (75,000 points) + 20,000 point referral | 9,000 points | |
| September 1 | Opens hotel card | 160,000 points | 3,000 points | |
| Points earned in Year 2 | 136,000 Southwest Rapid Rewards + Companion Pass | 104,000 Chase Ultimate Rewards | ||
| 104,000 Ultimate Rewards | ||||
| 163,000+ IHG or Marriott Hotel points for 3-5 nights | ||||
| 5/24 status | 3/24 | 2/24 | ||
| YEAR THREE: 666,000 points | ||||
| January 1 | Opens Ink Cash with P1 referral | $750 (75,000 points) + 20,000 point referral | 6,000 points | |
| March 1 | Opens Venture X (with P2 referral if they have one) | Downgrade Venture X after combining points with P1 | 75,000 miles + 25,000 miles referral | 8,000 miles |
| June 1 | Opens hotel card | 160,000 points | 3,000 points | |
| September 1 | Opens Ink Preferred with P2 referral | 90,000 points + 20,000 point referral | 8,000 points | |
| December 1 | Opens Southwest Business card with P1 referral | 80,000 points + 20,000 point referral | 5,000 points | |
| December 15 | Opens Southwest personal card with P1 referral | 50,000 points + 20,000 point referral | 1,000 points | |
| Cancels SW cards after receiving P2 referral bonus points | ||||
| Points earned in Year 3 | 83,000 Venture miles | 25,000 Venture miles (referral) | ||
| 118,000 Chase Ultimate Rewards | 101,000 Chase Ultimate Rewards | |||
| 40,000 Southwest points (referral) | 136,000 Southwest points | |||
| 163,000+ IHG or Marriott Hotel points for 3-5 nights | ||||
| 5/24 status at year end | 3/24 | 2/24 | ||
Download/Print Two Person Mode
Chart of Three Year Plan: One Person Mode
One Person Three Year Plan for 1.1 Million Points
| Cards | Standard Offer | Spending required | |
|---|---|---|---|
| YEAR ONE: Earn 297,000 points | |||
| January 1 | Opens Sapphire Preferred | 60,000 points | $4,000 |
| March 1 | Opens Venture X | 75,000 miles | $4,000 |
| June 1 | Opens Ink Cash | 75,000 points | $6,000 |
| September 1 | Open CitiBusiness AA Card | 65,000 miles | $4,000 |
| Points earned in Year 1 | 145,000 Ultimate Rewards | ||
| 69,000 AA miles | |||
| 83,000 Venture miles | |||
| 5/24 status at year end | 2/24 | ||
| YEAR TWO: 399,000 points | |||
| January 1 | Open Ink Unlimited | 75,000 points | $6,000 |
| March 1 | Open a Business Airline card (Alaska, Delta, Hawaiian, Jet Blue, Southwest) | 70,000 points | $4,000 |
| June 1 | Open one of the Freedom cards | 20,000 points | $200 |
| June 1 | Open Barclay Aviator AAdvantage Red Card | 60,000 miles | $1 |
| September 1 | Open Business hotel card | 160,000+ points for 3-5 nights | $4000 |
| September 15 | Cancel CIti AA Business card | ||
| Points earned in Year 2 | 104,000 Ultimate Rewards | ||
| 135,000 (ish) Airline miles | |||
| 160,000 (ish) hotel points for 3-5 nights | |||
| 5/24 status at year end | 4/24 | ||
| YEAR THREE: 423,000 points | |||
| January 1 | Open Ink Preferred | 100,000 points | $8,000 |
| January 15 | Downgrade Sapphire Preferred to Freedom Flex | ||
| March 1 | Open Citi Premier Alternate: Amex Green Card | 60,000 points | $4,000 |
| March 15 | Cancel the Business airline card you opened last year | ||
| June 1 | Open a Chase personal card (could be hotel, airline, or Freedom Unlimited) | 20,000-170,000 points depending on card and offer | $4,000 |
| June 15 | Cancel Aviator card | ||
| July 1 | Cancel your Chase Ink Cash | ||
| September 1 | Open a Chase Ink Cash | 75,000 points | $6,000 |
| September 15 | Look at the business hotel card you opened to decide to keep or cancel | ||
| Points earned in Year 3 | 189,000 Ultimate Rewards | ||
| 64,000 Citi ThankYou points | |||
| 170,000 Hotel points | |||
| 5/24 status at year end | 4/24 | ||
Download/Print One Person Mode
Table of Contents
- First Card: Chase Sapphire Preferred® Card
- ELEVATED OFFER!
- Year 1 Continued
- Year 2: Airline Miles, Hotel Points + More Ultimate Rewards
- Year 3: More referrals, More new Cards
- One Person Plan Notes
- How to Accelerate the Three Year Plan
- Chart of Three Year Plan: Two Person Mode
- Three Year Plan for 1.5 Million Points (Download) - Two Person Mode
- Chart of Three Year Plan: One Person Mode
- Three Year Plan for 1.1 Million Points (Download) - One Person Mode
Related Posts
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This is really helpful, thank you!
So glad it helped!
This is great. Is there a printer friendly version?
LOVE THIS! Thank you for seeing this need to help people who want to get started with CC points but feel overwhelmed. Other creators are great for showing us how to travel in luxury or take a shower on an airplane. I love that you provide resources for us average folk who have less glamorous, but still meaningful goals to take our family on a vacation once or twice a year :)
Question – if folks are skittish about annual fees, what are your thoughts on swapping out Venture X – maybe the Capital One Venture card? I know there’s no priority pass (and likely gives up other travel benefits) but is this a swap you’d approve of to get venture miles without the AF?
Yes, swapping Venture for Venture X would be a good option to cut those annual fees!
Thanks Katie! I love your blogs, they are so helpful. I subscribe to a few blogs but nobody gives the practical info you do! You are the best! Thank you so much!
Question – you mention downgrades on cards, I usually cancel the card and haven’t seen it affect my credit score this way I don’t have too many cards out there. Is there a reason you don’t mention this? I like to get the card again in 2-4 years depending on the rules.
I often do cancel cards as well — it really just depends on the strength of your credit score and how long you have had your longest account. For Chase Sapphire, I generally recommend a downgrade to Freedom because it opens more earning opportunities for Ultimate Rewards.
I am curious why you don’t advise to open both venture cards? Is there a reason? Can you only have one?
You could if you want more Venture miles for sure! My plan just prioritizes Ultimate Rewards but you can make substitutions and additions. Capital One is a little more stingy on approvals and both cards will count towards 5/24.
Hi Katie! Thanks for all you do. This chart is fabulous. I have a couple questions about single player mode.
In year two —- open freedom flex
In year three —- downgrade sapphire proffered to freedom flex
Can one person have two of the same cards?
And, why the downgrade of the Preferred when it offers 1.25 points value in the chase portal versus the Freedom?
You can also ask for a product change to “Freedom with Ultimate Rewards” or “Classic Freedom” which is similar to the Flex but a Visa and no longer open to approvals. Or have two Freedom Flexes.
Downgrading is really just if you only want to have one Sapphire in your household — you only NEED 1 total to transfer points out. So you could save on the $95 annual fee for one person.
Really enjoy your content. Question about the Ink cards, is there a reason not to go straight to Preferred. Thanks
No, it’s more just that the spend is higher so for many people starting off, that amount of spend seems overwhelming.
I second what Nancy is asking. I’m already in the points game. I have Chase Freedom Unlimited, Chase Sapphire preferred, and Chase Business Unlimited Ink. Trying to plot my next move. I was going to downgrade to Freedom Flex on my Sapphire (already referred my husband to it) but another option is I can open the Flex now, and then downgrade my Sapphire to Flex, so… 2 Flex’s?
You can! You can also ask for a product change to “Freedom with Ultimate Rewards” or “Classic Freedom” which is similar to the Flex but a Visa and no longer open to approvals.
Hi Katie, I love your content and find it so helpful. My family and I have played the points game for a while, and love the experiences we’ve had because of points. Just wondering do you ever cancel ink cards, to be able to open them again in the future? They are so helpful when building points. Thank you! 💕
Yes, I’d definitely recommend cancelling them once you have a few. After a year, you could cancel them. It might help to keep one longer term especially if you’re actually using it for business expenses.
Wonderful instructions. Thanks. One question: When closing the card, you recommend at least one year plus a few days of opening. But does this mean we have to pay the annual fee for the second year?
You can cancel within 30 days of annual fee posting and still get a refund!
If P2 gets Capital One Venture X, and if I (P1) am an authorized user, can the points transfer to my loyalty accounts? Or does it have to go to accounts with P2’s name? Thank you!
As far as I know, you can only transfer to the primary users airline or hotel accounts with Capital One
with chase I am an authorized user of my wife and I was able to use her points to tranfer into my Hyatt account.
Yes, I should clarify that if you are an authorized user on their card, you could do this.
I would like to see the 2 player mode plan with the continuous Southwest plan for 2 companion passes (for a family of 4). Would that be possible?
Thank you so much for working so hard to make this easier for the rest of us out there!
Thank you!
Thank you so much for your information! I love your podcast! It is so easy to follow and enjoyable to listen to. I don’t currently have a business. I do (very seldomly) sell things on ebay and Facebook marketplace. I see you’ve said these could count as a business, but I’m struggling with figuring out how those small businesses could meet the minimum spend amounts. Is it possible to do this hobby without business cards, or is there another option for me to meet the minimum spending amount for a tiny business? Thank you!
I just released a podcast episode on this! You can do this without business cards — but also most people are able to put personal expesnes on business cards as long as they keep their bookkeeping straight.
For anyone who is kind of weirded out by annual fees (my husband was), consider STARTING with a hotel card, specifically the IHG card or Hyatt.. Why? For $99/$95 a year, each comes with immediate status (kind of a “junior” status, but room upgrades and late checkout are the types of things that CAN make a stay more pleasant). Remember not to make your Player 2 (if you have one) an AU, but refer later to get referral points (check first, Hyatt sometimes doesn’t have a referral offer).
Not only will you get enough of a bonus for a multi-night stay at either brand from just ONE card bonus, but each year when you pay $95/$99, you will get a fairly generous free night award (both tend to pay for hotels up to $300/$350 a night at the time I’m writing this), but it is easy to compare the value of the free night (just look at the cash rate) against the $95/$99 yearly fee. Once I got a hotel card, referred my husband (P2), and he got his card, we stayed for five nights free right on the beach with the points on one card (we still have enough points on the other for another four or five night beach stay), I waited until the cards were almost ready to renew. I was then able to explain that we could either a.)cancel the cards or b.) keep the two cards for the total annual fees of under $200 for both cards and each and every year thereafter we would earn a two night stay (one on his card, one on mine) of up to $600/$700 for the two nights as long as we had the cards, essentially paying $200 for a $600/$700 weekend away. When the annual fee was presented this way, my ever-practical husband was IMMEDATELY on board (it helped greatly that he knows we ALWAYS pay our credit cards off in full every month).
In fact, he was SO ON BOARD that we now willingly pay $600 in fees each year for hotel branded cards, and take a weekend at Hyatt, a weekend in an IHG, and a weekend at a Marriott property, all using free night awards. (Hilton fees aren’t on our radar at the present time.)
That’s why, despite CSP being the most often recommended card to start with, for those concerned about whether annual fees are worth it, I find that a hotel branded card makes it easy to compare the annual fee to the free night hotel value and truly comprehend what COULD make an annual fee worth it for your situation.
Thanks for this thoughtful response! I agree– those hotel credit cards have such a tangible reward for the annual fee it can be a great place to start if the value from a Chase Sapphire Preferred seems murkier at first.
Hi Katie. I have recently discovered your helpful tips and tricks and am loving them. Thank you!!! I am trying to decide which card to get next and am debating between the Capital One Venture X or Capital One Venture as my second card. With the elevated bonus on the Venture card, is there a reason I should get the Venture X instead of the Venture?
The main reason would be if you’re wanting to access airport lounges in the next year. If not, you could get the Venture card and either upgrade to a Venture X or choose to cancel and get the Venture X in the future
Hello- I’ve found your content super helpful and straight forward. I started this hobby almost two years ago with a Saphire Reserve because of their elevated offer. I have found enough benefit with the card (lounge access and yearly travel credit, global entry, etc) that I’ve kept it. I also have a few business inks (I’ve been focusing on UR’s) and an IHG. I’m now looking through your plan and see that maybe I should try for a venture X or venture. If I have lounge access with the Reserve should I just get the venture? On the flip side I’ve also been thinking about grabbing an Alaska card because I find the most direct flights from SEA to my family are on Alaska (or delta). A little confused what my next best move would be.
I should add I’m a single player in this game
Or should I down grade the Reserve to a Preffered and go after the Venture X?
Hi Abbie! Reserve vs Venture X (especially when you’re in single player mode) really comes down to which airports you frequent. The Sapphire lounges and the Capital One lounges are at different airpots — the Priority Pass would just be overlap. Right now Capital One is in DFW, DEN, IAD, DCA and scheduled for LAS, LGA, and JFK. Sapphire Lounges are in BOS, LGA, JFK and coming soon to LAS, PHL, PHX, SAN. (with Venture X you get to visit ONE Chase lounge per year). If you don’t need a Venture X, you could go for the Venture and then also add the Alaska business card when it has a good offer! I’d also add the Hawaiian business card as a possibility since it looks like their merger will go through
With Venture X, you can get into Chase lounge once/year??
Yes, technically they are part of the Priority Pass network so you can get in once a year. But no guests.
Hello Katie – I really appreciate the way you have laid down so clearly a plan to get to 1M points. I am just getting started with the 1P mode and currently on 3/24. I did have a few questions for you.
1. I already have a few CC mentioned here with me namely CSP (opened in 2023), Alaska personal CC (opened in 2017), Venture (opened in 2024). Each have an annual fee of $95. i would like to get rid of one of these cards with annual fees and was wondering which one should i downgrade without losing the miles/points?
2. In above 1P mode – at what point should we start using the points for travel? for example in year 1 we apply for Citi Business AA card and cancel it the next year. does it mean we will need to use up the bonus points before we cancel?
Appreciate your guidance
Alaska card — you will keep all your miles if you cancel! So that one is really only worth keeping if you’re using the annual benefits like bags, etc.
This is true for all airline cards — that’s why you can keep opening and closing airline cards and keeping the miles to stockpile or use as you go. Hotel cards are the same!
Hello, Katie – I am enjoying listening to your podcast! I anticipate following Player 1 mode to open Credit Cards. Year one points to opening four cards. Relative to 5/24 status, why would opening four only count as 2/24 out of 5/24? I understand some business cards (Citibusiness AA) don’t count, however wouldn’t the other three count towards 5/24 (Sapphire Preferred, Venture X and Ink Cash)? Thanks in advance!
Ink Cash is also a personal card! It’s hard to keep them all straight at first :)
Hi Katie, so I am ready to get in the game, but it says January…should I wait? Is the timing most important for SW companion pass? Thanks
You can start with Companion Pass now (I think you asked in the FB group too but I was slow to respond here — just wanted to respond here in case anyone else has the question. I put the SW cards in January on this plan just for someone who doesn’t want to fuss even one bit about timing. But opening in mid-October works great too and helps optimize the time with the Companion Pass.
Katie, thank you for all of this. I finally dipped my toe in on the Chase Ink offer and that was in late July I think and already got my bonus so that was fast! I’m looking at the Southwest offer that expires in a few days. After that should I then go to Chase Sapphire and continue on from there?
Seems like a great plan! If you’re doing Southwest, I assume you’re doing both personal and business to earn the Companion Pass. then you can move on to Sapphire!
YO! Great stuff. Quick question. In beginning the three year plan for a 2 player household, should I add my spouse as an authorized user for the first Chase Sapphire Preferred card, or does that blow up the strategy? Thanks!
Generally it would be best to NOT add them as it will add to their 5/24 count. But you can if you want to. Other ways to let them use the same card would be to add the card to their phone’s digital wallet (like Apple Pay), or request another copy of your card due to one being “damaged”
Hi! So I have had the Preferred for several years. I want to refer my husband to the preferred as well and then potentially downgrade my card so we’re not paying two annual fees, but as I’m new to this I’m confused, how do I not lose my points during the downgrade?
If you downgrade your card, the points you have stay on that account. They don’t disappear when you downgrade. If you decide to close the card instead, you would want to move the points to another card that earns Ultimate Rewards Points (like another ink or a Chase Sapphire card) You can also move your points over to your husband’s account. To do that you have to call the first time to set it up, after it’s set up you can transfer points from your account to his account online.
Your points will still be “Ultimate Rewards” but with only a Freedom, they are only redeemable for cash back. But then you will be able to link the accounts in your household and move them to your husband’s new Preferred! Just make sure you get your referral points before you downgrade.
Wow – you’ve really outdone yourself Katie! Thank you so much for this valuable information!!! I love that you created plans for one and two people. Thank you so much for keeping your resources free. I will certainly be using your affiliate links to support you!!
Thank you, Leah!
Thank you for this, Katie! I’m new to this strategy but already have a Chase Sapphire Preferred (which I stupidly made my husband an Authorized User of) and he recently opened a Capital One Venture Rewards and got the 60K points bonus. Since we are already both users of the CSP, what would you recommend for our next step? I’m thinking I have him refer me to the Capital One Venture Rewards next, so we can get those bonus points plus we both get the TSA PreCheck benefit. Then once that’s covered, downgrade his to Venture One Rewards (no annual fee) and keep the points on that account? Does this plan make sense to you? I don’t anticipate us moving as quickly through your steps and I’m not sure yet if I want to attempt the business card thing yet. Thanks for any advice you might have!!
It’s not a big deal if you made him an Authorized user! he will still qualify for his own bonus and you can still refer him! It sort of adds to his 5/24 count but he could get that card removed from his credit report if you want to. Your plan works well for the Venture card, too!
Hi, thanks for all of this! If I am coming up on my 2 year Sapphire anniversary, do you recommend I close the card after the 2 years and re-open it to earn a new card opening bonus?
you’d need to wait 48 months on that one to be eligible to re-earn the bonus!
I have the same question as Kelly asking about after downgrading your Sapphire applying for a new Sapphire in year three (48+ months after you got your first Sapphire bonus.) Is there a reason that is not listed in the above three year plan?
You can’t get the bonus for 48 months since you got it, so you’d need to wait until year 4 to do this. So this plan just doesn’t got far enough out to show getting a bonus again.
Hello Katie, I’m curious why cancel Chase Ink card if there is no annual fee. Can you have more than one? Does that increase your chance of getting another one approved
Right now, Chase does seem to be making it hard to be approved for business cards if you have more than 3 of them from Chase. So closing them helps with approval. The exception seems to be that if you are a business doing a ton of spending, it might not matter as much.
Hello,
Love your guide – thank you so much for putting this out! My husband already has a Chase Sapphire Preferred (I am an authorized user but we have had the card for years so it shouldn’t matter) . We are the typical 1-2 credit cards with one (the CSP) we put all our expenses on and pay off each month.
For the 3year plan – trying to decide if he should refer a CSP to me or me get a Capital One Venture X (far amount of travel this year and would like the lounge access benefit)
In this scenario WWYD as the next step.
I’d do Venture X first and then he could refer you to CSP later!
Hi Katie,
I just found your podcast a couple days ago and you have lit a fire in me to be a point maxi-nista! I have had an Amex Plat for almost 9 years, which my hubs has an AU card on. We are fine with the benefits, but I suppose we don’t need them as we refocus our goals. Should we close his AU card and downgrade mine to Green (I used to hold this card 20+years ago) before we begin the 2 player plan? Thank you so much! Will surely use your links!
IF you’re finding value in your Platinum card you can definitely keep it! And then I would just ADD in the cards on the three year plan! This could help you decide which premium card is best for lounge access for you. https://katiestraveltricks.com/best-credit-card-for-lounge-access-by-airport/ It might still be the Platinum! Or you might have another option that’s ultimately a better fit.
Hey! So exited to get into this. Thank you Katie. I unfortunately closed my Sapphire last year :( My husband has the Reserve and I’m an authorized user. I’ll need to wait the 36 months to get Sapphire again, right? Should I get a freedom or ink (I have a biz) so we can transfer points through chase while I wait? And what other card do you recommend I start with? I don’t mind paying a fee for good value. Huge thanks, Katie!
Your timeline for when you can open it again depends on when you last got the bonus, not when you closed it! So if it has been 48 months since you got a bonus, you could open it again (use your husband’s referral!) Since you have the Reserve you may not need the Venture X (unless your home airport specifically has a Capital One lounge) so I’d move on to one of the Inks if you can!
Hi Katie, thanks for all the tips! I have my husband as an auth user on one of my chase cards and I’m wondering if I were take him off as an auth user if we could then get this taken off his record so it doesn’t impact his 5/24. Would that work?
Yep, you sure can! We had to do that a lot when the 5/24 rule came out. This might be outdated but gives the basics: https://www.doctorofcredit.com/removing-authorized-user-accounts-credit-report/
Thank you for all of your expertise and insight. We have been loving the podcast and are going through your course now. We weren’t able to download/print your two person 3 year guide from this page. Is there another place we could find it? We are so happy to have found you and can’t wait to share our family adventures that you have helped us achieve!
Hmmm, let’s get that fixed! So when you sign up, did it send you an email that said “confirm your subscription to get your download?” You can also send me an email at katie@katiestraveltricks.com and we’ll figure it out!
Nothing comes up when you click the words “Download/Print Two Person Mode“
I sent an email and haven’t heard back just yet. Thank you for your help!
Just replied, sorry for the delay!
I have found your podcast and website very helpful, I am trying to follow the P1 plan. I already have the Sapphire Reserve and based on this timeline the Venture X would be next, however it has a steep fee and the services it provided I already get with the Reserve. Should I skip it and start with the ink and follow the timeline from there? Thanks
yes, if you have the Sapphire Reserve already, you can skip the Venture X and move on to the other cards!
Hi! I wish I came across this guide months ago! I am about to qualify for the companion pass using the Chase Southwest Business card and Personal card method. However, that seems to be a Year 2 strategy in your plan. For context, I currently also have a Chase freedom unlimited and a citi advantage credit card from prior days, but my credit score just dropped from the 800’s to 750’s due to multiple credit checks.
I’m wondering how do I make the most of your beginners insight given this context? Should I be following the “3 Year plan” in the sequence presented?
Thanks so much!
It’s always fine to substitute cards in the plan or even full years! In your case, you might want to apply for Venture X next (if you’re planning to get it) in order to get it before you have more new cards and improve your chance of approval. That would also give you a break from Chase and then after that, you could go for a Sapphire.
How do you download the 2 person chart? Thanks!
whoops, the form got deleted off the page. It’s added now or you can go here and this should be working : https://katiestraveltricks.ck.page/c11469c7f8
Hi! I can’t find a link to download the 2 player 3 year plan, only the 1 person one. Could you please send it to me?
sorry, somehow it got deleted off the site — you can find it here: https://katiestraveltricks.ck.page/c11469c7f8
Hi Katie,
Can you get an ink card before a sapphire preferred but still eventually merge the points from your ink card to the sapphire once you get your preferred?
yes you can!
Hi Katie,
I’m getting a little overwhelmed and trying to figure out what card to get next to pay my $8 tax bill. Also what should I close at this point?
I have:
Chase SW & companion pass
Barclay Aviator AA
Chase SW Business
Ink Business
Chase Sapphire Preferred
Amex Hilton Surpass
P2 has:
Barclay Aviator AA
Chase Sapphire Preferred
Citi AA Mileup
Any help you can give me would be much appreciated!!
Some of it will depend on when you opened the cards! If you email erin@katiestraveltricks.com — she helps out with card consults!