New Member Looking to do first AOR

Discussion in 'General Discussion | Credit Cards' started by JEStarr, Aug 14, 2013.  |  Print Topic

  1. JEStarr

    JEStarr Active Member

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    I'm a longtime AMEX cardholder who has just recently found out about acquiring points/miles. After a ton of reading, I'm looking to do my first AOR. I'm thinking of adding a few cards.

    I'm currently a Green AMEX, which I will likely cancel. Here's what I'm thinking of adding. Let me know your thoughts, and if I should add any other cards on.

    1. Chase Saphire Preferred- 40,000 Bonus Points
    2. AMEX SPG- 30,000 Bonus Points
    3. AMEX Premier Rewards Gold- 25,000 Bonus Points

    If I add the new AMEX cards, and then cancel my Green Card will I lose my "account history" when it comes to the factor that makes up part of my credit?

    Thanks in advance!
     
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  2. gconnery

    gconnery Silver Member

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    You probably don't want to cancel that Amex. Your credit score is improved by having a longer credit history. If you constantly churn ALL of your cards, then your score might suffer. I am keeping a couple of cards around for the longer term based on advice from the various blogs I've read. After I get some history onto some NEW cards that I've had for a while, I may dump these. In my case I have the same problem as you that one of them is an Amex Green. Which means I can't apply for certain credit cards.

    Having had the personal Amex Green in the last 12 months you won't qualify for the bonus on that Amex Premier Rewards Gold. You'd have to have cancelled it a year ago. Read the conditions on the Amex PRG page when you click on the link. You'll see what I mean. It won't keep you from applying for the card, but you won't get the bonus I don't think.

    The CSP (one from the Chase Personal column) and Amex PRG (one from Amex Personal) are fine choices. UR points for the CSP can be converted to United or Hyatt etc and Starpoints can be converted to almost anything or used for SPG stays. Both good solid long term cards you should be planning to keep for a long time probably.

    If you want to look for another card to apply for think Citibank (Hilton or AA) or Barclay's (US Air, though Barclay's are apparently tough to get) or Bank of America (really only Alaska Air out there right now with the disappearance of Virgin Atlantic and the Hawaiian Airlines cards).
     
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  3. marcwint55

    marcwint55 Gold Member

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    DO NOT CANCEL THE GREEN CARD. It is probably one of the biggest factors in your credit score and will not look good if you cancel it. You should have no problem getting other cards which you can churn, but never get rid of your oldest card.
     
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  4. JEStarr

    JEStarr Active Member

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    So I was able to get upgraded to the Premier Rewards Gold Card and get 20k bonus points. No need to cancel the Green card now.

    Any other card recs are certainly welcomed.
     
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  5. gconnery

    gconnery Silver Member

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    The obvious recommendation for SOME POINT is to start applying for business cards as well. Or if you're married to get used to applying for cards for your significant other as well (or hey, adult children?). Doing this gives you access to more cards more often. Can't apply for a Chase United yet? Apply for the Chase United Business card. Some of the best cards around are business cards--Chase Ink anyone? Some are identical (SPG) to their personal variants. Some offer lower bonuses than the personal variant. But hey, its another set of cards and they don't hit your credit report as hard.

    As for more general recommendations? I guess it depends what you want to do... got any specific airlines or hotels or some place you want to go?
     
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