Signing up for Credit Cards isn’t the only road to miles and points. Last month, a few of us members of the Saverocity family sought to get the Southwest Companion Pass through resale (leveraging some great Rapid Rewards Portal deals available at the time), rather than through Credit Card Sign-on Bonuses.
BigHabitat, and I (Link) pursued the Southwest Companion Pass. We made it a point not to go out and sign up for a credit card (or two). We took the other path. This meant leveraging the Rapid Rewards portal bonuses to the hilt. Timing was great, in fact, it was FrequentMiler’s Quick Deal that I think set things into motion, at least for me.
The point, of this, is not to bash credit card sign-up bonuses. They are an important incentives to get a credit card, but you should wait until (1) you feel comfortable applying, and (2) you feel that the bonus is sufficient compensation for the hard pull and necessary spend to achieve that bonus. That said, I think this experience, at least for me, proves that just because an offer is “ending soon,” you shouldn’t feel pressured into applying for a card out of cycle or out of your comfort zone. The Southwest 50k Rapid Rewards point sign-on bonus could go away tomorrow, and you can still get a Companion Pass. You could mix and match even. Further, if you do a Google search, you’ll see that these offers come and go, and often return.
Reselling is not easy. There is work to it, there is risk. But there is also work and risk to pure manufactured spending to meet minimum spend (and get those sign-up bonuses). I don’t believe there is a single path, and it is important to highlight that point.