Churning and One Card at a time

Discussion in 'General Discussion | Credit Cards' started by Christopher Burdick, Jan 12, 2012.  |  Print Topic

  1. So I currently have the SPG AE card, Citi AA card (both I've hit the bonus on,) and the Chase Sapphire card. I'm seeing that since I already have a Chase account, I can't get any more Chase cards, is that right? A lot of the good programs are through Chase, so I'm trying to figure out how people are doing this. Is it the same deal with Citi and AE?
     
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  2. dhammer53
    Original Member

    dhammer53 Gold Member

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    No. Reports are that you can get a new Chase card in 30 days. If denied, call the reconsideration number in your letter and suggest that they reduce the credit line on your other card.

    I have multiple Chase cards that were opened within the past 12 months.

    Welcome to Milepoint Christopher.
     
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  3. miles and smiles
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    miles and smiles Gold Member

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    Welcome to Milepoint.
    There is enormous variety in how many cards a company will allow each people. There are people who have a couple dozen cards (spread between a few credit card companies, of course); and there are reports of companies limiting individuals to just a couple cards. It is definitely a YMMV situation where you have to research each company and know your own credit report and credit scores.
     
  4. Thanks for the replies! I guess what I'm more interested in is the validity in bonus points for each card, more than just getting them. I read some posts that said they got the card but were ineligible for the points bonus. Is this a different story then?
     
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  5. miles and smiles
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    miles and smiles Gold Member

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    Does happen, but is extremely rare unless you try to apply for the same card in a very short time period.
     
  6. TheTravelAbstract

    TheTravelAbstract Silver Member

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    Welcome to MilePoint!

    This usually happens if the T&C's for the signup bonus specifically state it is for "first time card-holder only".

    Not to self promote but....you can click the link to my blog where I have a Miles Toolkit that sets out the general CC application waiting periods and CSR #'s.
     
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  7. tondoleo
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    tondoleo Gold Member

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    There are instances where you can forfeit your bonus points if the card is canceled before a certain holding time period has passed. Chase has been known to take away rewards.
     
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  8. deant
    Original Member

    deant Milepoint Guide

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    My experience has been that the first time you apply for a specific card (Chase Hyatt, Chase Marriott, Chase Sapphire etc.) you will get the bonus associated with that card offer. However, again from my experience, if you apply for a second Citi card of the same type, they will disapprove you (however if enough time has elapsed between the applications they will not see the prior card and you will get approved and get the sign up bonus). Chase, however, is different, they have been known to approve the credit card but then send a notice that you are not eligible for the bonus. Again, YMMV depending on the time between specific card applications.

    As you can see, there is nothing that is set in concrete except that if you make a first time application for a specific card and are approved, you should get the sign up bonus.

    By the way, welcome to MP.
     
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  9. That's extremely useful, thanks!

    And thanks everyone for the replies, looks like I'll be a regular around here :)
     
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  10. LarryInNYC

    LarryInNYC Gold Member

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    Each bank issues tens or hundreds of completely different credit cards. In general, you can have several different cards from each bank at the same time. You are entitled to receive the bonus once for each different card. That means that you can have (for instance) a US Airways and United affiliated credit card with Chase at the same time and receive the bonus for each.

    Sometimes a bank will have several different cards affiliated with the same airline, but each card is still different and you can have one of each and receive the bonuses for each. Last year, many people applied for the Citi AAdvantage VISA and AMEX cards the same day and got two 75,000 mile bonuses. Sometimes it's a little hard to tell when two cards are different products (and you're "entitled" to two bonuses) and when two cards are just different "level" of the same card and you can only get one of them.

    That said, each bank will form an idea of the total amount credit they're willing to extend to you in any form. Once you have enough cards from that bank you will have maxed out your credit limit with that bank and you'll have to cancel one or more cards, or ask the bank to reduce the credit line on one or more cards, in order to receive additional cards. Also note that banks don't like to see you taking out lots and lots of credit cards in a short period of time (which makes it look like you might be in financial distress or engaging in fraud) which is why most people only apply for new cards three or four times a year at most.

    Finally, some people have reported that, for certain cards & banks, you can cancel a card and re-apply for it a year or two later and get the same bonus again. I've even read reports of people applying for the same card several times while their other accounts for the same card are still open and getting the additional cards and bonuses.
     
  11. Extra Pack of Peanuts

    Extra Pack of Peanuts Silver Member

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    Like others said, you can usually get a new Chase card every 30 days or so. That means that if you include one Chase card in each churn (91+ days), you should be ok. For example, I first got the Chase Sapphire in August. Then, when I did my first churn in November, I applied for both the Chase Marriot and the Chase Ink Bold. I got both of them with no problem (not even a reconsideration call). So I currently have 3, and I'm looking to add the Chase Southwest or the Chase Hyatt next churn.

    I'd also recommend looking at a business card. As you can only usually get 1 personal card each churn, a business card is great to throw in to the mix. If you have a EIN number, all the better, but even if you don't, you can get one by claiming you are a sole proprietor. If you do any type of consulting, selling on ebay, etc. for extra money, then just tell them that and you should get approved. As evidence, I got both the Chase Ink Bold (a business card) and the Chase Marriot (a personal card) in November. Definitely helps grow those Chase UR points quickly!

    Good luck!
     
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  12. Jeff the Wanderer

    Jeff the Wanderer Silver Member

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    In my experience with Chase, for any applications after the first card or two they will either deny or say they need more time to process the application. A call to the reconsideration has ended with approval every time for me and both myself and my wife currently have 4 Chase cards each. We will have to see what happens when I do my next churn if they will approve a 5th. I would not recommend applying for the same card more than once with Chase, but with all the different offers that they run, finding a different card every 90-120 days is not tough.
     

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