tys90

I've said this in other threads but I think all CC companies are overreacting to the churners. As long as the US doesn't cap credit card processing fees as hard as Europe does, we'll continue to see bonuses to attract customers. I think this situation will settle on a happy medium where you might have to be pickier about what to go after but are still able to get bonuses. It might be a year or two though and as you said, something new will come along.

jsk1973

Said this in the Chase thread before realizing there's a separate thread on this ...

I find this incredibly hard to believe, and I'd be surprised if the co-brand contracts even allow it.

"I'm switching from American Airlines to United and I'd like the MileagePlus card."

"Sorry, sir, you opened five cards over the past two years. Please come back in 17 months."

A co-brand company would have to be crazy to agree to a hard-and-fast rule like 5/24. Maybe no sign-up bonus for people in violation of 5/24, but no card, period? Makes no sense.

italdesign

You have a point. Even Amex will approve you but just not give you the bonus.

solewalker

This stinks. I just applied for the Chase Business Ink Plus card, and am waiting on a decision. My plan is to apply for the Hyatt card after that. Now I'm limbo as I wait for the decision. Either way, I really do hope I can still get the Hyatt card.

rev

Same here, except the United biz. Been pending for nearly two weeks now. I'm afraid if I have to call just to verify business info, they'll enforce the new rule now. Since Chase uses Trans instead of Exp in my area they were a very beneficial bank for me. This is crippling.

lrm72

I feel like this point has been raised a number of times in various places, and I'm inclined to think its correct. If this rule is actually implemented, do you think there would be any recourse by going to the co-brand partner (particularly if doing a status match/challenge or other switch of a large amount of business to that partner) and asking for them to reconsider or at least complaining to them?

fastpoint

Would be an excellent business opportunity for Amex or Citi to sweep in and contract with a major hotel/airline for a new product.

jrjcopp

I hope Amex keeps some relationship with the combined Marriott/Starwood.

rove312

Do non-Visa/MC cards such as Sears and Best Buy from Citi (really accounts, never carried the card, gotten for the long interest-free period on big purchases) count towards the 5?

jsk1973

Yes, they do.

sdsearch

But Amex business cards (which don't have the one bonus per "lifetime" limit) are much easier to apply for (especially if you have no real business) than Chase business cards. And, btw, "lifetime" seems to actually mean 7ish years.

Per the reports in the 2016 shutdown thread in the Citi forum, the Citi shutdowns seem to be of MSers, not of churners who've never MSed.

Define "almost useless" (in the BofA context)? I find getting an Alaska Airlines card for another 25k bonus miles + $100 credit every few months far from useless. It's still about 100k miles a year. (And some people seem able to do even more, if applying for personal + business at the same time.)

I don't think Barclay allows you to get any card at least 4 times a year, so I'd actually put it below BofA. But I don't have any experience with BofA churning other than Alaska Airlines cards. And I haven't tried churning anything at Barclay since they stopped taking applications of the US Airways card (which turned into AA Aviator). I just don't need any more WyndhamRewards points right now...

Happy

Dream on. Chase just renewed its contract with Hyatt. It has renewed that with UA last year.

That said, Chase' approach is really dumb. It should go the way Citi is doing - no bonus if you have open OR closed the same card within the previous 18 months - this way, it would make you hold on the card for minimum 18 months if you want a repeat bonus - it is a fair approach to both parties. It eliminates a lot of turnover. Citi also offers reasonable retention offers that if you spend X you earn a Y statement credit - Citi even has $50 statement credit PER MONTH for spending X amount on people's high fee cards while Chase retention offers are dwindling to almost hardly anyone getting it.

Its approach would also prevent non-churners from getting the co-branded cards for their travel needs.

On top of that, there is really only very few Chase cards worth their AF - for many it is probably the IHG being the only co-brand worth the AF. But the card does not worth putting any spend on it! The irony!

Citi on the other hand has the Cash Back a no fee true 2% rebate card without earning cap (as long as you dont abuse it to far exceed the CL) that Chase Freedom cannot compete.

nsx

Wouldn't that formula encourage you to close the account in the first few months, so that the 18 month time limit on closure would start counting down? The "accounts opened" formula doesn't penalize you for having kept the last account open. That's smarter IMHO.

jsk1973

Remember, churners tend to have a very different idea of what "fair" is. Ha ha.

I can't believe 18 months is something of an industry standard. Three years would seem like the bare minimum.

Happy

Nope. For many people the best strategy is to keep the card open pass thru the 18 months. That is the shortest time you need to wait. With Citi offers reasonably good retention offer, it is not hard to keep its fee-based cards. When the first card still open, but beyond the 18 months mark, you can then qualify for a repeat bonus. That is at most 18 months plus 1 day if you want to push it.

You do realize Citi counts both OPEN and CLOSURE not just the Closure, dont you? So why introduce a closure when the Open also counts, per your thinking?

If you close the card, say, on the 4th month, your total wait would be 4 + 18 = 22, how can 22 be shorter than 18 in the keeping the card scenario?
Even you cancel your card right after getting your bonus on the 1st statement, your wait is still 1 + 18 = 19, still longer than the strategy of keeping the card pass 18 months.

Note the above does not take into consideration of the system loophole currently exists in the W to WE conversion of AA card as that is an exception not the norm.