Points Pilot

Frequently Asked Questions

The key to earning big points and miles is not opening just one credit card...but opening several, then closing those accounts at the right time and opening new ones that fit your travel goals.

It’s not a difficult process, but it takes being organized, knowing the ins and outs of the industry, what the most lucrative deals are at the moment, and what types of points will best accomplish your travel goals. That's where we come in…
The number of accounts you cycle through will be up to you. Some people do a few a year, some people do more than 20. It's up to you, and you can dive in as slowly or quickly as you want. Most people dip their toe in the water, and then after seeing results and booking their first trip step it up from there.
The biggest question most people have is "wont this hurt my credit score"? The short answer is that it's unlikely to have a negative impact. In fact, some people report that it actually increases their score. That seems counterintuitive, but credit scores are based on many factors. One is inquiries. You will have a lot of inquiries, which will reduce your score. But you will also have much more available credit, and a large part of your credit score is based on "credit utilization" which is how much of your available credit are you using. When you have a lot of credit but don't carry a balance, the percentage of utilization is lower and this is a positive which usually more than offsets the inquiries.

For example, say you have $1,000 balance on credit cards and a $10,000 credit line. Your credit utilization is 10%. Now let’s say you have the same $1,000 balance, but $50,000 in credit lines across several accounts. Now your credit utilization is only 2%. Credit utilization is a bigger factor than inquiries when computing a credit score, and so the result is that your credit score may actually increase. Some people report increases of as much as 20 or 30 points.
This varies based on how comfortable you are with applying for multiple accounts, and there are no guarantees. If you applied for 1 account each quarter, you might earn 4 to 8 free round-trip flights a year. If a couple each applied for 4 or 5 accounts per quarter, it would not be uncommon to earn 2 million miles per year (which is more than enough for several first class international flights and hotels while you are there). How many accounts you have is going to be based on your comfort level and how much you normally spend in a given quarter. Our advice: Start slow and work your way up.
Will you be good about paying off your credit cards? To accumulate the maximum number of points and miles, you'll be putting a lot of your daily expenses on credit cards so you need to be good about paying them off each month. If you think you are likely to carry a balance and let your debt stack up, THEN THIS IS NOT FOR YOU! Maintaining balances and paying interest can quickly erase the benefits of points and miles, so you should probably steer clear of this.

Do you have a credit score of at least 700? Generally, to be approved for new travel accounts on a regular basis you should have a credit score of about 700 or more. There is no exact number, but making this work is heavily dependent on the ability to be approved for new accounts regularly. If you score is below 700 you can certainly give it a try, but you may have more limited success.

Can you put a minimum of $333 a month of your regular spending on credit cards? Points bonuses are typically awarded by banks after you complete a minimum amount of spending in a set time. So, to qualify it's important to be able to put enough of your regular spending on credit cards to meet these requirements. Day to day expenses can be paid via credit card, as well as many bills and utilities. You can even pay rent and mortgage payments via credit cards (though these may not make sense due to the fees). The greater the minimum spending requirement you can meet, the more points you can potentially earn.

Can you do some minimal record keeping? It's important to keep track of some details as you apply and close accounts to avoid paying annual fees. Your Points Pilot experience (and points/mileage success) will be enhanced by logging in and providing some information that allows us to provide accurate recommendations and notifications.

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2050 Beavercreek Rd, Suite 101-176
Oregon City, OR 97045

(971) 808-2209