FYI...for those keeping track at home. I'm a regular card churner and have applied for a card a month for the past several years. I applied for the AMEX Gold on Aug 28, 2011 and put myself into a timeout to do a refinance of my mortgage. On Nov. 3, 2011 I submitted an application and today we're signing the new mortgage.

I am SO looking forward to applying for my next credit card....it about killed me to miss out on the one day 75K AMEX deal earlier this month.

Observations

- I had NO trouble refinancing with my churn record. I ended up with the best rate/cost advertised for a 230K mortgage.
- I did have to provide a written explanation for the eight credit cards my wife and I applied for from June to August. I simply stated that I applied for the cards to get FF points and showed that the balances were zero and that was that. A bit more paperwork but it didn't cause any problems.

Caveats
- My wife and I have > 760+ FICO scores.
- We have a 45 % equity stake in our house and housing values here are relatively stable.
- We have approximately 2x times the amount of the mortgage in various retirement, college funds
- Long term employment record with monthly income that easily meets the required thresholds and have a consulting business on the side.

Make with it what you will....