With an 800 Credit Score, Which Initial Card Hacks Offer the Best Returns?

The average American consumer has a credit score of 715, says Experian, one of the three major reporting bureaus. It’s a lot harder to get your credit score up to an 800 because that requires a solid history of paying bills on time, low credit usage, and a reasonably lengthy credit history.

But if you happen to have a credit score of 800, you may be in a great position to take advantage of certain credit card strategies that put more money back in your pocket.

In this Reddit post, we have a user with an 800 credit score looking to make the most of it. They haven’t used a credit card in years, but they’re looking to employ credit card hacks to reap the rewards.

It’s important not to abuse credit cards, because going overboard and charging up a storm could easily turn a fantastic credit score into a less impressive score. But if you’re careful with what you spend, you can use these credit card hacks to score your share of points and cash back.

1. Chase sign-up bonuses

It’s common for credit cards to use sign-up bonuses, also known as welcome offers, to attract new customers. Those offers usually give you a lump sum reward for meeting a certain spending requirement within a given time frame.

For example, you might find a credit card sign-up bonus that gives you $250 for spending $3,000 within three months of opening your card. Or, if you go for a travel rewards credit card, you might qualify for 40,000 bonus points for spending $4,000 within three months of opening your account.

Individually, these bonuses offer a lot of benefit. But one thing you can do is chase multiple bonuses by signing up for a new offer every six months.

The reason you want to spread out credit card applications is that each time you apply, a hard inquiry is done on your credit report, which causes your credit score to take a small dip.

A single hard inquiry is generally no big deal. But you don’t necessarily want a series of them one right after another. Plus, if you apply for too many new credit cards quickly, it could raise a red flag, leading to some of your applications getting rejected.

2. Sign up for credit cards with superior rewards programs – and know how to use them

Some credit cards offer better reward programs than others. With a credit score of 800, you should be in a prime position to get approved for those top offers. From there, it’s a matter of using the right cards for the right purchases.

If one of your credit cards, for example, offers 3% back on supermarket purchases, that’s the one to use for groceries. If another card offers 4% back on gas, make sure that’s the one you use at the pump. And repeat.

3. Research travel redemption offers

An 800 credit score could help you qualify for some of the best travel reward credit cards out there. Cards in this category could help you load up on bonus points easily, which you can convert to different travel experiences.

To really make the most of your travel rewards, research redemption offers to see where you’ll come out ahead. Some credit cards let you transfer points directly to hotel and airline loyalty programs. This often gives you a better value on a per-point basis compared to other redemption options.

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