Credit card roulette: TD First Class Travel Visa Infinite Card

It’s been a little while since my last credit card application, a month or two i’d say, so high time to give it a try on another one! Here’s a screenshot of what I was eyeing up earlier today;

 

Please forgive the amount of notifications on my phones screenshot, I’m bad for ignoring them! You can read about this card further on the forum thread on RedFlagDeals right here. With the fee waived for the first year and 50,000 td points this is a decent deal for me. The 50,000 points will be worth about $250 in travel credit on the Expedia for TD, I’m not super interested in any of the other “perks”, like insurance as I already carry other cards that have the needed medical and travel insurances for when I trawl the globe. 🙂 This card has an income requirement of $60,000 or household $100,000, with my extra job this year I was able to jump through that hoop so I applied!

 

It’s always a little bit of a surprise doing these applications, and a happy party when it’s succesful! Can’t wait to snag these points and use them! 😀  I’ve only been declined one card in the past four years (the Chase Marriott Visa that no longer exists, sadly, it was great value and very churnable) Do I worry about these cards affecting my credit? Nope, because they don’t really

Why do I do this? To afford travel, travel will never be totally free as there are always costs involved but travel hacking has allowed me to see and do things I wouldn’t be able to afford otherwise.

Does it hurt my credit? MMMnope!

I keep tabs on my creditscore using creditkarma.ca; my score updates every Monday, I request my free Equifax report once a year and am generally watchful of whats happening on my credit.

I also have a fraud warning on my profile to verify identification prior to extending credit as I previously had a compromised creditcard.

Does it hurt my ability for future big things like buying a house? Not really!

As I am not currently in the market for any car or home related loans I have no problem continuing this game. With any new application my score may drop a few points, usually nothing big and sometimes there is no change at all. This application had zero effect on my score. Were this to change and were I to need to start shopping for a mortgage I would take the appropriate actions, shut a few things down and slow down my applications but for now… happy travel hacking!

Have you ever tried travel hacking?

The planning of a MINI-RTW, continued travel hacking.

I figure I should start detailing a bit more about the adventures I go on and how we do it all on the cheap. (the “we” in this equation is my  hopefully -probably forever partner-in-crime and newly nicknamed Tom, because he is as persistent as Tom from Tom & Jerry when he sets his mind to something)    Most people don’t believe or understand,  It’s really actually possible to stay in a hotel for free for an entire week, to have lounge access in most airports, to fly in business class and to get 200,000 aeroplan miles in the span of a year and to redeem them for a round the world trip to many crazy destinations AND pay only a few hundred dollars in tax, without having to do anything crazy.

I suppose I’m getting ahead of myself. Your definition of crazy may also be different from mine 😉

I first read about travel hacking on Chris Guillebeaus blog and was amazed at this idea of signing up for credit cards, getting bonuses and flying all over the world for next to nothing. I was enamored. This was right around the time where I started getting in shape financially, probably back around 2008/2009.  For my birthday in 2010 I received a signed copy of Chris’ book The Art of Nonconformity from my boyfriend at the time. He got me a signed copy of it which was so sweet!

That book was what I needed to read at that time. I won’t turn this into a book review and the book isn’t a literary marvel but I took some  key points from it to apply to my life. I share similar ideas with Chris I suppose.  I make my own rules and that book helped me on my path towards what has become my biggest  and most enjoyed time suck; travel. From 2010 I worked on my finances and in mid-2012 went on my first solo multi-country trip.

That trip wasn’t travel-hacked a whole lot, I paid a fair market economy price and got a few deals here and there and definitely did it on a budget. I got rolling with travel hacking moreso in 2013 and took off running with it from 2014 onward.  Key to my success with travel hacking has been meeting my boyfriend and working on it as a team. Together we have accrued and used over $16,000 in points in the past few years, that value is higher if you translate the value of our flights and hotel stays into what they would have cost if bought out right. We keep track in a spreadsheet that most of the time is hopelessly out of date.  We are currently working on a fairly huge (for us) trip that will hopefully take us from Eastern Canada, around parts of Western Europe, to Australia, through parts of Asia and around through the Western coast of North America and back home again.  Here’s an idea of what the return leg of the journey is likely to look like;

Travel hacking isn’t for everyone. There are a two key ducks you need to have in a row to really get the ball rolling;

Income; On my own I was able to do all right, I was able to earn around $500-$1,000 in a year in points and slowly build up my aeroplan balance to somewhere around 30,000-60,000 over a year orso but my income has varied in past years and I’ve noticed I’ve really been able to kick up travel hacking a notch since I no longer have a mortgage and my income has increased. Additionally teaming up with Tom has been beneficial for us both. You can refer eachother for credit cards deals etc, and get around income requirements you don’t quite have yourself by claiming household income etc.  Having one member of your household earn in the range of 60-80k annually and the other 40-60k allows you to take advantage of the best creditcard deals due to income requirements, you can do it on your own, but together is a double whammy.

The other key to it all is TIME. You need a lot of time, and a lot of persistence and some skill to apply for, spend and then accumulate a nice pile of points to be able to take advantage of what you’ve earned.  It also helps to date a nerd. 😀 I’m sitting next to Tom right now who has programmed a java script to scrape itinerary results that we’ve collected to put together the best itinerary and times with our requirements; minimum stop over hours in certain cities, excluding certain airlines etc., which we will then be able to call in and actually piece together on the phone.

A very helpful thread to get started with is the FAQ: FAQ: The Complete Newbie Guide/FAQ to the Air Canada Aeroplan Mini-RTW on FlyerTalk.

Prince of Travel (a blog I don’t know otherwise) also has a helpful post on the basics of planning a mini-rtw

Obviously this has to be of interest to you and it definitely takes a certain type of personality, on the whole it’s very achievable for many people. That’s all for me today though, I need to get ready to head to Cape Breton for the weekend to do the Cabot trail! 😀

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