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Credit Card Rewards - Churning
Posted on 7/5/14 at 10:02 am
Posted on 7/5/14 at 10:02 am
So I've been raping the credit card companies over the past two years. I'm currently looking for ideas on what cards I should get next. No hotel stuff because I prefer to stay in cheap hostels when traveling alone. Here are the current rewards:
Southwest: 194,164 points. I was able to amass a ton with the 50,000 sign up bonus and a few trips a month to Houston for work.
Delta: 171,345 points. These points feel like the biggest waste there is. I canceled my delta amex and now they won't let me use the damn things for anything other than plane tickets. Any ideas?
Chase Sapphire: 107,118 points. I'm pretty proud of this one. This is my main card. I'm probably going to take the gf to an all inclusive resort in the next 6 months with this card.
What is your experiences with canceling any of the above cards and trying to get the bonus again?
What card should I add to the line up. Like I said, I don't really care about hotel stuff or car rentals. Ideally, id like to get more chase sapphire points if another sign up bonus is possible.
Note: I'm a middle class OT baller but spend about $4,000 - $6,000 per month in work expenses.
Southwest: 194,164 points. I was able to amass a ton with the 50,000 sign up bonus and a few trips a month to Houston for work.
Delta: 171,345 points. These points feel like the biggest waste there is. I canceled my delta amex and now they won't let me use the damn things for anything other than plane tickets. Any ideas?
Chase Sapphire: 107,118 points. I'm pretty proud of this one. This is my main card. I'm probably going to take the gf to an all inclusive resort in the next 6 months with this card.
What is your experiences with canceling any of the above cards and trying to get the bonus again?
What card should I add to the line up. Like I said, I don't really care about hotel stuff or car rentals. Ideally, id like to get more chase sapphire points if another sign up bonus is possible.
Note: I'm a middle class OT baller but spend about $4,000 - $6,000 per month in work expenses.
7
Posted on 7/5/14 at 10:45 am to I Love Bama
Chase churning according to FT says 2 years from cancelation you will be eligible again.
Delta is Amex and their new policy as of this May is one bonus per product per lifetime.
Citi apparently let's you get the same card every 65 days or so even if the previous one is open. I'd look there and pound American.
Delta is Amex and their new policy as of this May is one bonus per product per lifetime.
Citi apparently let's you get the same card every 65 days or so even if the previous one is open. I'd look there and pound American.
This post was edited on 7/5/14 at 10:48 am
Posted on 7/5/14 at 11:19 am to I Love Bama
Amex Premier Rewards Gold Card wouldn't be bad if you used it for a lot of your work expenses. You get 3x on airline charges and 2x on gas and groceries plus a 15,000 point bonus when you spend over $30K in a year which you say you do.
Granted airline specific cards would be better if you prefer a certain airline but Membership Rewards do transfer to many airlines as well.
Granted airline specific cards would be better if you prefer a certain airline but Membership Rewards do transfer to many airlines as well.
Posted on 7/5/14 at 11:42 am to I Love Bama
quote:
What card should I add to the line up. Like I said, I don't really care about hotel stuff or car rentals. Ideally, id like to get more chase sapphire points if another sign up bonus is possible.
You operate a house rental business correct? Secure both an Ink Bold and Ink Plus will net you 50k each. These can be merged with your CSP. Shazam, 200k chase points
This post was edited on 7/5/14 at 11:43 am
Posted on 7/5/14 at 1:19 pm to I Love Bama
You can't churn every Citi card and you have to get them in the right order. For instance, you can get a Citi Elite card first and then get a Citi Executive card. If you try to do it the other way by getting the Executive card first you will get turned down for the Citi Elite card for already having an AA card.
You can churn the Executive card by getting one and then getting another 8 days later. After the second card you can then get another 65 days after the second card and repeat the cycle. The problem is that the 100k AA miles promotion may be at an end. They have pulled the landing website although people are still reporting that they are getting confirmation of the 100k mile bonus at signup. A $10k spend in 3 months is required to get the bonus.
As mentioned you cannot churn Chase cards and cancelling cards is not a good idea if you have points in the bank. In fact, it's a terrible idea. Always transfer the points out before cancelling a card.
You can churn the Executive card by getting one and then getting another 8 days later. After the second card you can then get another 65 days after the second card and repeat the cycle. The problem is that the 100k AA miles promotion may be at an end. They have pulled the landing website although people are still reporting that they are getting confirmation of the 100k mile bonus at signup. A $10k spend in 3 months is required to get the bonus.
As mentioned you cannot churn Chase cards and cancelling cards is not a good idea if you have points in the bank. In fact, it's a terrible idea. Always transfer the points out before cancelling a card.
Posted on 7/5/14 at 2:01 pm to I Love Bama
quote:
Delta: 171,345 points. These points feel like the biggest waste there is. I canceled my delta amex and now they won't let me use the damn things for anything other than plane tickets. Any ideas?
I'll take them.... No seriously I will
Posted on 7/6/14 at 7:03 am to I Love Bama
FYI.....
"A move by American Express to crack down on people who earn multiple sign-up bonuses by opening and then closing the same kind of credit card repeatedly is causing alarm among credit card churners, who see the decision as the latest sign that harvesting cards for miles and points is becoming less lucrative."
"This is the beginning of the end," wrote one commenter on DansDeals, a site that directs people to credit card and Internet deals. "Once churning is gone (as other cards and banks follow suit), there is nothing much left. The whole credit card/miles shtick was good while it lasted."
LINK
"A move by American Express to crack down on people who earn multiple sign-up bonuses by opening and then closing the same kind of credit card repeatedly is causing alarm among credit card churners, who see the decision as the latest sign that harvesting cards for miles and points is becoming less lucrative."
"This is the beginning of the end," wrote one commenter on DansDeals, a site that directs people to credit card and Internet deals. "Once churning is gone (as other cards and banks follow suit), there is nothing much left. The whole credit card/miles shtick was good while it lasted."
LINK
Posted on 7/6/14 at 8:48 am to I Love Bama
quote:
Southwest: 194,164 points.
Damn dude, I have the Southwest card and with that many points you could see the whole US with how cheap their flights are.
Wanna gift any?
Posted on 7/6/14 at 9:39 am to tigerpawl
quote:
"This is the beginning of the end," wrote one commenter on DansDeals, a site that directs people to credit card and Internet deals. "Once churning is gone (as other cards and banks follow suit), there is nothing much left. The whole credit card/miles shtick was good while it lasted."
Whole lot of hyperbole there.
1) Policies change with the times. They can go back and forth as the economics of the situation ebb and flow.
2) Companies come up with new products all the time. What are the odds there will be a Chase Sapphire or a certain hotel chain credit card that exists in perpetuity? Every new product is a new opportunity. Can't get the same bonus two or three times? Oh well, get 3 different products that achieve the same thing.
Of course, being able to churn one card every 30 days or whatever is the easiest route.
This post was edited on 7/6/14 at 9:40 am
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