Tip to save a small amount of cash on this cycle

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Hemorrage

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So many of us are spending a crap ton of money applying to schools this cycle. I figured i'd share/remind you guys of a way to save some money.

If you're gonna pay for anything with a card, don't use your debit card. Use a credit card like discover with (1-5% guaranteed cash back). 1% may not seem like much but every small bit counts.

Additionally, when you're booking flights make sure you sign up for the rewards programs. I've already earned one free one way flight through jetblue just by signing up for their free TrueBlue program 🙂.
 
Below is a section of DAPI's MDapps account referring to a good way to save money. He included a hyperlink in the last sentence. That link is included as well. I think i will definitely be doing this once i apply.

"Sign up for a credit card that earns you miles and put everything on it and use those miles for travel. I mean, you are either paying for your application costs with 'cash' and getting nothing for it or you could be putting it all on a credit card and earning miles. Just be sure to pay off the bill when you get it and cancel it after the application cycle if you get it cause most have an annual fee of $60 - $100. Try this as Southwest is considered one of the better airlines to fly on."

https://creditcards.chase.com/a1/southwest/default

EDIT: Here is the link to DAPI's MDAPPS account. Check it out. Lots of helpful info on there. http://www.mdapplicants.com/profile.php?id=24817
 
It's good advice, but you should be cognizant of a few factors. There is no one "best" credit card to earn miles: some people prefer specific airline cards, others prefer a more general card (american express, chase sapphire, etc.). This will depend on your goals (hotel stay vs airline miles vs cash back), location, and credit score. Some cards waive the annual fee for the first year, and others don't. For some people the annual fee is worth it, for others it isn't. If you live in New York City, having a JetBlue card might be a good idea, considering it is a hub for that airline. Same for Houston and United Airlines, Atlanta and Delta, Miami and American Airlines, etc.

And while spending with the credit card can give some miles, more miles will probably be earned (by most people) by actually flying. Compare a 2000 mile round trip from Miami to Philadelphia vs the ticket cost of ~$300, assuming $1 = 1 point and 1 mile = 1 point.

Also, if you have a low credit limit, carrying too large of a balance can negatively affect your credit score.

Don't misunderstand me, I believe that airline and other "miles" yielding credit cards are great options for a lot of people, but not necessarily everyone.
 
I agree with this. Also, look into getting Southwest Airlines Rapid Rewards Visa (or Visa Signature card). In hindsight, it would be idea to apply before the interview invites kick in. They often have promotional periods, offering 50,000 points if you spend $2000 in three months (for me, rent alone was enough to meet the spending requirement). During the holidays last year, this offer was available without a minimum spending requirement, so you can potentially max out on the promotional offer at 100,000 points (if you qualify for both the Visa and Visa Signature cards). At 110,000 points, you can earn a "Companion Pass", a free second ticket for anyone who is accompanying you on your trip.

Typical fare:
FROM Fort Lauderdale (FLL) TO Boston (BOS) Round Trip: Approximately 20,000 plus Government tax: $10
FROM Fort Lauderdale (FLL) TO Washington DC (DCA) Round Trip: Approximately 10,000 plus tax: $5
FROM Fort Lauderdale (FLL) TO Pittsburgh (PIT) Round Trip: Approximately 15,000 plus tax: $10
FROM Fort Lauderdale (FLL) TO Atlanta (ATL) Round Trip: Approximately 10,000 plus tax: $5

Total: $30 (tax required) for 4 round trip tickets and still 45,000 points left (assuming maximum Rapid Reward Points acquired).

Added BONUS: Rapid Reward Points are flexible to use. If you want to cancel your trip (I believe it's 24 hours before your trip), the points are returned to your Rapid Rewards Account.

Hotel nights work in a similar fashion (IHG and Starwood Preferred Guest cards), but that is also a lengthy discussion. Example: One Holiday Inn Hotel Night in Rosslyn (Washington DC), paid entirely with points.
 
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Below is a section of DAPI's MDapps account referring to a good way to save money. He included a hyperlink in the last sentence. That link is included as well. I think i will definitely be doing this once i apply.

"Sign up for a credit card that earns you miles and put everything on it and use those miles for travel. I mean, you are either paying for your application costs with 'cash' and getting nothing for it or you could be putting it all on a credit card and earning miles. Just be sure to pay off the bill when you get it and cancel it after the application cycle if you get it cause most have an annual fee of $60 - $100. Try this as Southwest is considered one of the better airlines to fly on."

https://creditcards.chase.com/a1/southwest/default

EDIT: Here is the link to DAPI's MDAPPS account. Check it out. Lots of helpful info on there. http://www.mdapplicants.com/profile.php?id=24817

Important to note! If you are spending your money on essentials for the application cycle, you can spend the cash without any return, or make the purchases work for you with a card that has good benefits. As always, it is important to spend wisely and pay off the debt without accumulating interest. Otherwise, the interest rates will negate the rewards received on the credit card.
 
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