Churn Strategery Help

Discussion in 'General Discussion | Credit Cards' started by sharris503, Jul 10, 2011.  |  Print Topic

  1. sharris503

    sharris503 Silver Member

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    Since I am brand new to this game I have identified 9 cards I would like to get. I already have two BofA Alaska Cards (applied for in March and June). One thing I am a bit confused about is whether I should just apply for these all at once or do I apply for a 3 at a time and then wait 90 days and do 3 more? What is the strategy here to make sure I get all of them.

    I should also mention that I can't start applying for any of these until mid to late August because we are refinancing the house right now and I don't want to make any credit inquiries. I'm hoping the southwest promo is extended. Thanks for the help.

    Here are the cards I would like, not necessarily in order of preference:
    1. AA 75k Personal
    2. AA 75k Amex
    3. AA 75k Business (with this card I do know I need to wait 65 days after the first two)
    4. Southwest Personal
    5. Southwest Business
    6. Hawaiian BofH
    7. Hawaiian BofA
    8. SPG
    9. Chase Sapphire Preferred
     
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  2. jmhuth

    jmhuth Silver Member

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    No, don't apply for all... Check out www.frugaltravelguy.com... He has some great tips on how to apply w/o hurting your credit..
     
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  3. sharris503

    sharris503 Silver Member

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    I've been reading his blog extensively and in all likelihood I have probably read the answer to my question and it has been pushed out of my mind with other information I have gathered. I guess really my question is how many cards can you apply for at one time or lets say in a 90 day time frame. Anyway this timeframe stuff is still fairly confusing to me so I will keep plugging along at flyer talk and frugaltravelguy looking for a good guideline. Right now I'm thinking two cards per 60-90 days.
     
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  4. miles and smiles
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    miles and smiles Gold Member

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    Keep in mind that each bank has different rules and that there is much variation in each person's situation (history with a card, history with a bank, general credit history). So, while there may be general guidelines, there are not hard and fast rules.
    Personally I feel it is important to prioritize. Sometimes deals are available for a few days, sometimes for many months.
     
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  5. Million Mile Secrets

    Million Mile Secrets Silver Member

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    I lean towards miles and smiles (isn't that a cool name!) view that there is variation in what works and what doesn't given your personal situation. I try to apply for about 3 to 4 cards every 6 months from the same credit reporting agency.

    I also prioritize my application based on the largest application bonus, so I'm getting ready to apply again for the Citi 75K cards again (since that has the largest sign-up bonus), and I usually bunch up my application on the same day.
     
  6. MSPeconomist
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    MSPeconomist Gold Member

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    Welcome to MP
     
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  7. sharris503

    sharris503 Silver Member

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    Here is a nuance I have completely missed, how the heck do you know what cards report to what agency? they don't report to all three? Does this mean you are apply up to 3 to 4 cards per reporting agency every six months. I'm a little confused here.
     
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  8. jmhuth

    jmhuth Silver Member

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    Per www.frugaltravelguy.com go here: http://creditboards.com/forums/index.php?app=creditpulls Put in card name, state & it will show you....I've had luck w/ this... I personally do 3 or so credit cards every 4-6 months it seems so far... That is 3 for me, 3 for my hubby..... So 6 total. I also do all on the same day to minimize the hard inquiries on my report. Hope this helps.
     
  9. Million Mile Secrets

    Million Mile Secrets Silver Member

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    As jmhuth suggested creditboards.com is a good resource in some states, but it may not be updated for your state. Some issuers like Capital One report to all 3, some to 2, and some to 1. I look at my credit report to see which bank is pulling from which agency.

    It also means that I can do 3 to 4 cards per 6 months per agency if I wanted to!
     
  10. sharris503

    sharris503 Silver Member

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    Crazy. I think I will stick to the generic 3-4 every six months rule. That seems pretty reasonable and since some of the cards I have listed on top seem to be long term (i.e. Hawaiian) I can hold off on those, plus I already have next years trip to Hawaii taken care of, thank you Alaskan.
     
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  11. savydog
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    savydog Gold Member

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    This is most interesting, no doubt a little different in Australia, but I did just get 16000 from Qantas for a new Woolworths Card. Do you give your bank the bad news that the card is no longer required at the end of the 90 days/ 6 months? Is this then recorded with your credit agency, that it has been closed I mean ?

    I always seem to have cards that I don't use and quite often wonder about paying for another 12 months fee or trying to getting that waived. I see offers from different banks from time to time, but a bit more limited here as we have only 4 major banks and amex and a few credit union and building societies that have banking operations.
     
  12. Million Mile Secrets

    Million Mile Secrets Silver Member

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    I usually give my bank the bad news after about 10 or 11 months when it is time to pay the annual fee. The credit agencies then notes that the account was closed at the consumer's request.

    And I move on to the next card!
     
  13. BeachMiles
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    BeachMiles Gold Member

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    Applying for the AA 75k bonus again. that caught my interest. How long ago did you open and close your last AA card? thanks.
     
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  14. TennisPro
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    TennisPro Silver Member

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    That caught my eye, as well, BeachMiles. How long do you recommend between cancellation and re-application?

    P.S. I really like your blog Million Mile Secrets! This is Chris... the person that keeps commenting on your blog posts, about how great you are for "not wasting my time". :)
     
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  15. TennisPro
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    TennisPro Silver Member

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    The lazy way, and the way to ensure you're not leaving possible approvals on the table, is just to keep submitting new applications, until you get your first denial for "too many recent inquiries". Then, just avoid that issuer for a while.
     
  16. TennisPro
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    TennisPro Silver Member

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    I just found the answer to this question (which I had to). He has an entire blog post dedicated to it, that I simply forgot about. He recommends between 12 to 18 months after cancellation. Recent report had a denial at the 13 month mark, so I will probably wait closer to 18 months.
     
  17. Million Mile Secrets

    Million Mile Secrets Silver Member

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    I opened my last personal AA account in September 2009, and closed it in 2010.
     
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  18. Million Mile Secrets

    Million Mile Secrets Silver Member

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    Hi Chris! Nice to put a picture to the name! And thanks for commenting. :)

    The reports are that you may be able to get approved 18 months after your last Citi Personal aaplication. I tried at the 12 month mark and was denied, so I will be trying again soon, since it will be closer to 18 months in a few weeks.
     
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  19. Kalboz
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    Kalboz Gold Member

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    Please tell us how so without hitting "available for first time applicants only" rejection wall!
     
  20. miles and smiles
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    miles and smiles Gold Member

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    18 months is much safer with the Citi personal AA card. I had success with getting another bonus with them at 17 months. Also, I did NOT cancel my first Citi AA card. I can't promise that not cancelling looks better than cancelling, but since I had been with Citi for years, I felt that staying with them felt better to me.
     
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  21. miles and smiles
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    miles and smiles Gold Member

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    Probably a good strategy. There will be more offers in six months, maybe better offers. That's it's wise to prioritize.
     
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  22. Million Mile Secrets

    Million Mile Secrets Silver Member

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    Responses on FlyerTalk and miles and smiles' experience with getting another Citi AA card 17 months after his last application seem to indicate that you can get a new round of bonuses on the Citi AA cards despite the "available for first time applicants only" language.

    I don't have any personal experience with this, but am getting ready to try it out soon!
     
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  23. miles and smiles
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    miles and smiles Gold Member

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    A couple of cautionary points:
    My success was in Feb. 2011. My info leading to my success came from detailed reading of virtually every post in the Citi AA 75K thread on FT. At that time, people who waited 18 months or more had greater success than those who waited less. This was not a hard and fast rule, and Citi may very well have different standards now. I have not kept up with that thread in recent months, so I do not have the latest info. So, if you're not feeling sure about applying, do your homework before you do.
     
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  24. Kalboz
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    Kalboz Gold Member

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    Wait 18 months or more since what event? Last time you applied for a card, or the last time you canceled your Citicard?
     
  25. miles and smiles
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    miles and smiles Gold Member

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    last time you applied. I never cancelled my previous card.
     

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