Delta Gold Am Ex Churn?

Discussion in 'General Discussion | Credit Cards' started by Robin, Feb 27, 2014.  |  Print Topic

  1. Robin
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    Robin Silver Member

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    I'd like to get more FF points before the 2015 revenue based change. I currently have a Delta Gold Am Ex card. If I cancel the card, how long do I have to wait before I can reapply (for bonus sign up) or is it a one time deal only?

    Thanks.
     
  2. John Deere

    John Deere Silver Member

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    A full year after cancelation of same exact card.
    3 months for a different personal delta card.
     
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  3. euromannn
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    euromannn Gold Member

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    I had a AMEX Delta Gold card about 2 years ago. Instead of canceling the account due to an annual fee I transfered to another rewards program(Hilton Honors) thus preventing another credit history check from being run.

    Now since I'm eligible for AMEX Delta Gold card again....I'd like to transfered back and get the sign up bonus. However, AMEX demands I start a new application and a new credit history check.

    Go tany options where I can transfered my AMEX card from HH to Delta SKymile gold card and not have to have another credit pull against me?
     
  4. Robin
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    Robin Silver Member

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    Thank you.
     
  5. John Deere

    John Deere Silver Member

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    You cannot get a sign up bonus without a new application (credit pull). If you just want the delta card perks, then ask them to convert it back.
    If you'd like a sign up bonus, then you must apply again for it.
     
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  6. euromannn
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    euromannn Gold Member

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    Problem with converting back is NO fee waiver for first year.
    Or I'd transfer reward programs if there waiver would be in effect.
     
  7. John Deere

    John Deere Silver Member

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    I see.
    So why not apply for a new card and get everything? The fee waiver, the miles, and the perks.
     
  8. euromannn
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    euromannn Gold Member

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    Each new application results in a credit pull which can impact credit score.
    There is a the basic pull 4-6 points but also affects the credit card usage limit percentage which can drop a score 30-60 points.

    Not good to cancel one card for another or even keep adding as too much credit also leads to lower scores.

    My car insurance, house insurance, even job applications all depend on credit scores now.
     
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  9. jwsky
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    jwsky Silver Member

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    what is "credit card usage limit percentage"?
     
  10. euromannn
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    euromannn Gold Member

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    Each credit card you are granted a LIMIT of credit.

    For example:
    1. AMEX card gives you $10,000 credit limit.
    2. Spending per month average amounts to $4,000.00 /month.
    3. Remember it's the summation of ALL credit and ALL spending.

    This translates into a credit card usage: $4000/$10000= 40%.

    Anything close to this amount and your FICO credit score balloons!

    Now in reverse if you have too much credit then the FICO scores is also impact but maybe 7-10 points.
    EX:
    1. $30,000 credit limit(accumulation of all cards or single card).
    2. Spending $1000/month on average.
    Credit card usage: $1000/$30,000=3%
    3% is too low as the FICO software assumes you have too much credit available which you are not using and if you lose your job could go on a spending spree unto $30,0000 and not be able to pay it off.

    Best to target credit card usage 7-10% range.
     
    Last edited: Feb 28, 2014
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