What I've Learned After Opening 30+ Credit Cards

Back in 2018, I fell down the credit card rewards rabbit hole. What started as one or two cards turned into a full-blown hobby. Since then, I've opened more than 30 credit cards -- playing in two-player mode with my wife -- and racked up over $10,000 in welcome bonuses alone.

We've earned the Southwest Companion Pass multiple times, relaxed in fancy airport lounges, and used our points for free flights and hotels. It's been fun, but also full of lessons.

Here are some of the biggest ones I've learned along the way.

1. One good welcome offer can beat a year's worth of rewards

In some cases, a single welcome offer can be worth more than 12 months of regular rewards.

For example, if a card gives 2% back on regular purchases, you'd need to spend $25,000 in a year to earn $500.

But a welcome offer worth $750 (which isn't uncommon for travel cards) could blow past that by spending a few thousand dollars when you first open it.

That's why I always compare welcome offers first when shopping for a new card. Especially if I've got a big expense coming up like an annual insurance bill, flights for a trip, or big house purchase.

2. Rejections aren't the end of the world

I've been denied cards (even though my credit score is 800+.) Sometimes it's because I opened too many cards too quickly. Other times, the bank just said "nah" with no clear reason.

I used to be super worried about my credit score getting trashed. But after going through it multiple times I've learned that it's really not that bad.

My score might get dinged a couple points for the hard query. But these drops are temporary and (as long as I'm responsible with other usage) it always recovers. Life goes on like normal.

3. Responsible use matters more than the number of cards

Speaking of credit scores… I've tracked mine since day one. Back in early 2018, I started with a 745. Today it sits at 840.

I've opened more than 30 cards (well, technically about 15 for me and 15 for my wife), closed most of them, and taken a ton of hard pulls during the last seven years.

My credit score hasn't grown in a perfect line upward. There have been small dips here and there, especially after new applications. But the overall trend has been positive.

This makes sense though because here's the general makeup of credit scores, per myFICO:

• 35%: Payment history
• 30%: Amounts owed
• 15%: Length of credit history
• 10%: New credit
• 10%: Credit mix

Yes, opening and closing cards has some impact. But the bigger impact comes from payment history and keeping balances low. Doing those things consistently has made my score rise even though I've been playing the rewards game full throttle.

Want to take a peek at the top bonuses worth grabbing right now? Here's a quick list of my favorite rewards cards that offer big rewards right out of the gate.

4. A single flat-rate card covers 90% of your ongoing needs

At first, I thought I needed a whole stack of cards to really maximize rewards. Like one for gas, one for groceries, one for travel, one for streaming… you get the idea.

But carrying too many cards gets really messy. Even though I'm very organized, it's tough to remember which card to use and all the bonus details, etc. Half the time I'd end up just defaulting to whatever card was on top of my wallet.

Eventually I realized that a single 2% flat-rate card is almost as good as a handful of specific category cards. It'll get 90% of the rewards, with zero ongoing work.

5. Annual fees aren't always bad

I'm super conscious about annual fees. Most people are.

But annual fees aren't always bad, even the ridiculously high ones. You just have to be honest about whether the perks and rewards are actually paying off, or if they just sound good on paper.

I've found that many luxury cards can be very lucrative. But only during the years I'm actively using all the perks, like high travel years.

These days I take it card by card. If I'm getting at least double the fee back in rewards, I keep it. If not, I downgrade or cancel.

6. Two-player mode is a serious advantage

If you've got a partner who's on board, it's way easier to rack up rewards and qualify for bonuses.

Opening cards in both my wife and my name is a big advantage. We can qualify for twice as many cards, combine our spending to reach minimum requirements easier, and even get bonus points by referring each other to certain cards.

We stagger applications to make sure we're still not opening too many cards in one particular person's name. This is how we've been able to open a card every three to four months without running into any major denials or issues.

Final word: Go at your own pace

Being totally honest, I've probably gone a little overboard playing the credit card game. And I don't really recommend everyone try the same.

But if you're even a little curious about earning more rewards -- whether it's flat-rate cash back, travel perks, or just cashing in on a big welcome offer -- opening a new card once in a while can be a great move.

Just make sure you're paying all your bills on time, and spending responsibly. Go at your own pace -- patience pays off.

Want to see which rewards cards are actually worth it? Here's our list of top credit cards in each category. Happy rewards hunting!