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re: Worth it to get a Credit Card for air miles?
Posted on 12/16/16 at 8:42 am to Hankg
Posted on 12/16/16 at 8:42 am to Hankg
quote:
What's the long term plan with all these cards ? Keep them open? Close them ? I'm just getting started with all this and not sure about this part. Thx
Couple of options. You can close them if you want to try and repeat the sign on bonuses again one day down the road. Some cards purge records every couple of years and you can repeat a bonus. Or if you dont want to close it and the card has a yearly fee you can call and ask to have it downgraded to a non-fee card. Closing can hurt your score in some situations.
1
Posted on 12/16/16 at 9:18 am to jmtigers
It's not so much that they purge records. Citi has an 18 month rule. You can't get a bonus from Citi if you've opened or closed the same card in the last 18 months. Chase has a 5/24 rule. American Express only allows one bonus per card type in your lifetime.
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