Originally Posted by
hawaii2midtown
How much time must elapse between closing a card and opening the same card in order to receive the full miles promised by the new card?
What is the approximate average hit that we take on each credit pull? 5 points? 10? I know this is impossible to answer precisely, but would love to hear from people with specific experiences.
Is it okay to apply for 5-6 cards within a short period of time even if the bank offering the card is the same but the airline is different? For example, would opening a Chase SWA card and a Chase CO card simultaneously render you ineligible for bonus miles on one or the other?
Thanks all!
In reverse order:
Applying for more than 2 cards with the same bank within 60 days is very hard (impossible with Citi). I did manage to get the Chase CO, Chase Marriott, Chase SWA personal, and SWA biz all within 60 days (required a lot of phone pleading). I got the bonuses on all 4. You're fine with CO and SWA bonuses though. Only the card must be different.
Credit hits have been minimal for me and others I've worked with. 5 or 10 points total which comes off after a couple months. My score actually went way up after 2 months because of lower utilization.
Your 1st question is the winner we all are trying to figure out. It seems to vary between cards and companies. AmEx has a long memory in most instances but recently some people have reported new bonuses for repeat cards. Citi is currently stonewalling with it's new anti-churn policy for personal cards and we don't know how long it will be. Guesses are a year but we don't know yet. Citi biz is 90 day repeat cards and bonuses though. Chase is supposed to, like AmEx never allow repeat bonuses, but again there have been many exceptions.