When is the good time to apply for a new card?

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Spending Bonus For New Account

When you apply for a new credit card, you should shop for a high bonus card.  Usually a bonus offer credit card will require you spend certain amount on purchases in the first 90 days of new account opening.  Therefore, whenever I have big purchases coming up, or auto and home insurance dues, I will apply for a new credit card to fulfil the spending requirement to earn the bonus offer.

Secrets on Meeting the Spending Requirement

Whenever I fall short on my spending to earn the bonus offer on my new credit card, I will purchase gift cards on my daily spending retailers, like Target, Starbucks, Nordstrom, and Safeway.  Although I spend more now on the gift cards, I can use the gift cards in the later months. 

Tips on Gift Card

Effective January 1, 2008, a gift certificate/card with a cash value of less than ten dollars ($10) is redeemable in cash (not a new certificate or merchandise) for its cash value.  Therefore, I purchase gift cards of $25 or less, then I will have more chance to redeem my gift cards into cash when they are less than ten dollars.


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