Churning 101: When can you get rid of an old card?

Discussion in 'General Discussion | Credit Cards' started by gconnery, Aug 29, 2013.  |  Print Topic

  1. gconnery

    gconnery Silver Member

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    Okay, so I've been churning for a couple of years. One of my oldest cards is an Amex. I've converted it to a Gold, then a Platinum to get extra points out of it without getting rid of it. Will demote it to a Green again once I've gotten my Platinum benefits for a year, but for whatever reason I can't demote it below that (say to a Blue Preferred).

    Having this card keeps me from being able to apply for certain cards, say a Platinum 100,000 pt offer (personal). Or the regular Gold MR card. I can get the cards of course, I just can't get the signup bonus as a current cardholder.

    So the question... is there a point at which I can get rid of this card? If it were up to me there are certain cards I'd keep forever (Chase Sapphire, Chase Freedom) and others I would Churn. Over time my Sapphire will have been in my account for some number of years. At what point is that good enough?

    Obviously the question is what happens to my credit score when I get rid of this card? I've currently got some 20-odd cards. The Amex Green/Gold/Platinum is my oldest card from 2000. A Citi AA Gold MasterCard from 2005 is second. Current credit score from Experian closing on 800.
     

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