CC churning: minimum timeframes for applying?

Discussion in 'General Discussion | Credit Cards' started by carwag25, Aug 3, 2011.  |  Print Topic

  1. carwag25

    carwag25 Gold Member

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    Hi Everyone,

    I am a newbie to Milepoint and just got into the CC churning game last month. I was approved/received four of the Citi AA cards (two for me and two for my spouse), and the Amex Platinum card (with the 100K bump).
    Since I have observed that the 5 cards have not affected our credit score (which is excellent) and minimum spends are not an issue for us (my spouse and I own a business with ~$50K spend a month). I am wanting to apply for the Chase Southwest/Sapphire cards, and Amex SPG cards this week, however, I am unsure of the minimum timeframe I must wait before applying with each bank....

    I have read Citibank is a minimum of 60 days, and Chase is 90 days. What about Amex and Bank of America?

    Apologies in advance if this has been asked many times before, but my searching through the threads did not return anything.

    Thanks in advance!
     
  2. aitchly
    Original Member

    aitchly Silver Member

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    Credit Score. Credit Score. Credit Score!

    Keep an eye on how many 'pulls' you have in a certain time frame. At some point you will start getting into trouble for too many in a short time frame.

    One way around this is to stack your applications on the same day; the theory is one bank cannot see another pull from the same day.

    The second issue is total pulls. Since they fall off in two years and are not a rejection priority after one year, consider applying every three months for 1-5 cards.
     
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  3. miles and smiles
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    miles and smiles Gold Member

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    Welcome to Milepoint!
    In my experience, credit card companies rarely have hard and fast rules on this. They have tendencies and preferences, but there are many other factors they look into besides how long since your last application. I know from my personal experience and from what I have read from many other people that Chase sometimes gives multiple cards within 90 days, even within 30 days.
    You will find info on these questions on Frugal Travel Guy, Million Mile Secrets, and creditboards.com, and probably other places. Just know in advance that different folks have different experiences and different opinions. My advice is take some time to do your own research, set your priorities for which cards you want the most and remember that just as there are good deals available now, there will be good deals available a few months from now, too.
     
  4. Lufthansa Flyer
    Original Member

    Lufthansa Flyer Gold Member

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    too much churn will kill your credit score. the churning shows that you may be looking for a lot of credit in a short amount of time, and CC companies can get really nervous around that.
     
  5. carwag25

    carwag25 Gold Member

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    Thanks so far for the insightful replies. I have definitely a stickler about not ruining my credit and check my score at least once a week.

    Just to give a bit more "color" to my situation:
    Airlines: We fly AA and Southwest Airlines most frequently (SJC is our nearest airport, so not a major hub for any airline)
    Hotels: We stay at Hilton hotels most frequently (family visits in a small town where this is the only decent hotel out of three), however, Hilton would not be my hotel chain of choice since we like the 4 and 5 star hotels for our pleasure and business trips. Thus, the reason to possibly go with the Amex SPG card.

    Regarding the cards:
    Me:
    -- Two Citi AA personal AA cards on the same day (so one credit pull)
    -- Amex Platinum (same day, so this would be the second credit pull)
    My Spouse:
    -- One Citi AA biz and one Citi AA personal (two credit pulls).

    So overall, the credit pulls for the above were fairly small. I should have perhaps phrased my question a bit differently as I am trying to understand everyone's trends for credit churning (frequency, how many, etc). I have read some churn 5-6 cards every 60 days and maintain excellent credit (I have subscribed to 10 blogs in the last 30 days... definitely information overload!).
     
  6. aitchly
    Original Member

    aitchly Silver Member

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    It would be hard to say no to the SWA cards even if you are pushing it for apps as your last 'round' was just last month. Perhaps one of you could sign up for the personal and business, add in a few dollars of spending and qualify for companion pass.

    Speaking of spending, this is another reason to consider which cards when as the SPG cards have a steep (for many) hill to climb, especially with your $8,500 (or so) committed spend.
     
  7. Million Mile Secrets

    Million Mile Secrets Silver Member

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    Hi carwag25,

    Welcome to Milepoint!

    As Miles and Smiles said banks have" tendencies and preferences," not hard and fast rules. Here's what I know from personal experience or from reading through threads and reader emails. But keep in mind that you could get different results.

    1) Citi generally accepts only 2 personal applications within a 60+ day period. Business applications need 90+ days between applications.

    2) I've got 1 personal and 1 business card with Chase in April. The personal card was approved instantly, but I had to call in to get approved for the business card. They approved it since I hadn't had a new Chase card for about 4 months. So, if you're new to Chase, you may be able to get approved for 2 cards. You may be able to get another Chase card after 30 days, but be prepared to call in to the reconsideration line and have good reasons for why you want the card (my company changed their preferred airline, United fares are very expensive, my partner loves Southwest etc. etc.)

    However, I'd urge you to be very selective about your Chase application since Chase is cracking down on folks who they think are applying for cards only for the sign on bonus. My last call with a reconsideration analyst for the Southwest card was like an interrogation, but I managed to get the card. I'm going to lie low with Chase until there's a really juicy offer.

    3) Bank of America - Not sure about the time between applications, but I have got 2 cards approved on the same day. Neither was approved instantly, but I called to get them approved. However, one of my oldest cards is a BOA card, so that may explain why I got approved for 2 cards in 1 day.

    I would apply for the Southwest card first since you can get ~$800 worth of travel and this offer is ending on August 6. I suspect that Chase is gearing up to position the Sapphire as a competitor to the AMEX cards, so will venture to say that the Sapphire bonus will last longer. If you do apply for 2 Chase cards on the same day, I would recommend applying for the card you really want FIRST, and then applying for the other Chase card. That way, you have a higher likelihood of being approved for the card you want.

    And I would also apply for the SPG card since the reduced spend of $4,500 is great compared to the regular $15,000 spend required to get the bonus.

    But it sounds like you're one of the few folks who won't have an issue meeting the minimum spend!
     
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  8. stan
    Original Member

    stan Silver Member

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    SOME DATA: to prove above above

    I was approved by Chase for 4 cards june 7, june 10, july 27 ink biz and hyatt
    I was approved buy Amex for 3 cards june 21 july1 july 25
    NOT APPROVED by Citi on Aug 3 to many inquires
    all 8 pulls were Experian

    now have 15 pulls less than 2 years 3 expire this month -- will wait till NOV to apply for new c.c.

    have one cc 40 years Amex--- Chase cc 20 years --Citi 10 years --

    Hope this info sheds some light --YMWV!
     
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  9. Morsel
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    Morsel Active Member

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    Anecdotal, but something recently learned about Chase is their interest in the total credit supply they're extending to you. A friend with a couple of Chase cards left a well-paying job for law school (now no income) and applied for the CO OnePass Plus card. Initially denied, but the reconsideration line moved some credit limit from his existing card and then approved.
     
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