PanGalactic

This will be my last controversial post of the day, promise

It doesn't really belong here...

http://www.flyertalk.com/forum/briti...t=amex+premium

or here....

http://www.flyertalk.com/forum/briti...mo-active.html

But it covers both so I thought I would create a new thread which would truly be the Amex AND BAPP thread.


Starting from scratch….

1. Signup for BAPP (18,000)

2. When you have earned your 241
Refer your partner for the BAPP (18,000+9000)
Signup for Plat (42000)
Cancel your BAPP

3. When your partner has earned their 241
Refer your partner to Plat (42000+22000)
Partner refers you to BAPP (18,000)
Cancel your Plat
Cancel your partners BAPP

4. Return to step 2 except this time your partner can refer you to Plat (for an extra 22,000) then immediately cancel their Plat

Rinse and repeat, you get the picture!

Is this a work of art or what?

Enjoy!

chistery

But I don't have a partner.

BAHumbug

OK. You do need to supply us with more information in order for us to help deal with your complaint.

You say you would like a partner.

What sort of partner would you like ?

If you can let us have some more information we can try to help you out.

BAH

PanGalactic

Well, they'd have to have good credit rating for a start

chistery

Can I not just get some sympathy avios from BA for not having to subject everyone else to the canoodling and smugness that couples seem to exude?

Well now you come to mention it, that works, and an understanding of why I'd go to Seattle just to see a Dreamliner.

HilFly

You've never met Mr H & me then?

golfmad

Cancelling credit cards can adversely affect one's credit rating so it might not work too well in practice and probably depends on the elapsed time between steps 2 and 4.

chistery

Maybe a new step of "change partner and repeat" needs to be inserted?

golfmad

That's it. You've cracked it

BAHumbug

There. I fixed it for you !

BAH

PanGalactic

Excellent

PanGalactic

What? Even if you paid in full every month and had no problems with it?

I'm clearly going to have to do some more research on this before I find out the hard way

Thanks for the heads up!

PanGalactic

I haven't really managed to find much info regarding credit card cancellations hurting your credit score.

I found a couple of articles saying that cancelling a card could increase your percentage of used available credit, but this would only apply if you had other debts or run a balance on your cards.

On the other hand I found other articles saying that less access to available credit can actually improve your score and chances of being accepted for other cards.

The only really negative thing I have been able to find is an article saying that cancelling your oldest cards could reduce your credit history length.

golfmad, Is this what you meant when you said cancelling cards can adversely affect your credit rating, or is it the act of cancelling itself which you believe hurts your score (the same way that applying for too many in a short space of time does)?

ColdWalker

If your going to go down this route I think there are two potential improvements to your churning circle:
- you need to factor in Quidco cashbacks.
- I think an additional loop or two into Lloyds Premier Duo cards, including some effective transferring of balances via Paypal to get you duo spend levels upwould be useful. Maybe an SPG Amex loop too, or has that one ended?

Build in these and you should be able to not only build up a much bigger Avios balance and earn a raft of companion vouchers, but also to completely trash both your credit rating and your PayPal account

Result!

flyoff

Cancelling cards won't negatively affect your credit "score" if anything it will improve it as you will reduce your available credit. It is the application process, even if unsuccessful, that can have an impact.

There is a good article which is based on information from a credit reference company and a lender and a lot of experience of people who exploit the 0% deals on credit cards to the max from stoozing.com. Amex will have their own policy based on the credit card reports and they could impose a system similar to BMI/MBNA in the future where an offer is only available once if they feel that the points offers are being exploited.

If anyone is interested in more details of a well researched article the following link is an interesting read: Stoozing.com credit scores