Churning the AS Signature Visa ?
Mar 25, 2008, 7:10 pm
#1
Original Poster
Join Date: Jan 2005
Location: OAK
Programs: AS MVPG 100k
Posts: 3,756
Churning the AS Signature Visa ?
Has anybody tried cancelling and re-applying ?
Can you churn this card like you can the AA/Citi cards, and keep getting repeat bonusses ?
I have both platinum and signature; I had been carrying a balance on a low rate offer on the plat card, but with rates falling it's not worth doing that anymore, so I paid it off. So, now I can use the plat card for my 1k booking bonuses, I'm wondering about cancelling the signature card, leaving it a few months and re-applying.
Can you churn this card like you can the AA/Citi cards, and keep getting repeat bonusses ?
I have both platinum and signature; I had been carrying a balance on a low rate offer on the plat card, but with rates falling it's not worth doing that anymore, so I paid it off. So, now I can use the plat card for my 1k booking bonuses, I'm wondering about cancelling the signature card, leaving it a few months and re-applying.
Mar 25, 2008, 8:31 pm
#2
Join Date: Jan 2008
Programs: AS MVPG, CO, NW(now DL), Flying Blue
Posts: 6,554
I may stand corrected but I think you only get the bonus miles if you are a first time cardholder. However I dont know if its like a first time home buyer where you can wait so many years after selling a home and be qualified as a first time home buyer again
Mar 25, 2008, 8:52 pm
#3
Original Poster
Join Date: Jan 2005
Location: OAK
Programs: AS MVPG 100k
Posts: 3,756
Well, I searched before posting, but obviously not very well, because I found the answer just a couple of threads down the page - http://www.flyertalk.com/forum/showthread.php?t=801318
So it seems that probably my best option for a bonus may be to kill the signature card, and then upgrade the plat card to signature for a 5k bonus.
So it seems that probably my best option for a bonus may be to kill the signature card, and then upgrade the plat card to signature for a 5k bonus.
Mar 25, 2008, 9:53 pm
#4
Join Date: Dec 2007
Location: SF East Bay
Programs: 189 miles short of AS MVP, SPG Gold, Marriott Gold
Posts: 1,226
It can impact your credit rating!!!!
It's not worth getting a card and dumping it and getting another card and dumping. It makes your credit history look bad because of how short a time you had the card. The longer you have a card the better. If you don't believe me, check with credit bureau's like www.experian.com
Mar 25, 2008, 9:57 pm
#5
Join Date: Sep 2001
Location: Hyderabad
Posts: 4,843
It's not worth getting a card and dumping it and getting another card and dumping. It makes your credit history look bad because of how short a time you had the card. The longer you have a card the better. If you don't believe me, check with credit bureau's like www.experian.com
Mar 25, 2008, 10:17 pm
#6
Join Date: Dec 2007
Location: SF East Bay
Programs: 189 miles short of AS MVP, SPG Gold, Marriott Gold
Posts: 1,226
Here's from a CNN article about improving your credit.
http://money.cnn.com/2002/02/15/debt...s_creditscore/
"Don't close unused credit card accounts near loan time. If you have several credit card accounts but are only using a few of them, you'll only raise your balance-to-limit ratio if you close the unused ones. You also shouldn't open new accounts when applying for a loan if possible. If you have a short credit history or very few accounts, opening a new credit line may lower your score since you don't have a proven track record, said Jan Davis, an executive vice president at TransUnion. What's more, a new account will lower the average age of your accounts, another factor in your FICO score."
http://money.cnn.com/2002/02/15/debt...s_creditscore/
"Don't close unused credit card accounts near loan time. If you have several credit card accounts but are only using a few of them, you'll only raise your balance-to-limit ratio if you close the unused ones. You also shouldn't open new accounts when applying for a loan if possible. If you have a short credit history or very few accounts, opening a new credit line may lower your score since you don't have a proven track record, said Jan Davis, an executive vice president at TransUnion. What's more, a new account will lower the average age of your accounts, another factor in your FICO score."
Mar 26, 2008, 7:34 am
#7
Join Date: Dec 2004
Location: BLI
Programs: Alaska Million Mile Flyer, Marriott Lifetime Titanium Elite
Posts: 3,195
Mar 26, 2008, 7:45 am
#8
Join Date: Feb 2003
Location: Washington State
Posts: 84
No need to cancel the first card. Just apply for a new one. I had an AS signature visa, and then signed up for another one a few months ago. Same mileage plan number as my first card. I got 20,000 miles in my account, and the $50 companion coupon as well. I did pay the annual fee. I called and cancelled the new card within a month or two of receipt, and asked that the credit limit on that card be consolidated with that of my older AS Visa. No problem.
Mar 27, 2008, 9:13 am
#9
Original Poster
Join Date: Jan 2005
Location: OAK
Programs: AS MVPG 100k
Posts: 3,756
It's not worth getting a card and dumping it and getting another card and dumping. It makes your credit history look bad because of how short a time you had the card. The longer you have a card the better. If you don't believe me, check with credit bureau's like www.experian.com
No need to cancel the first card. Just apply for a new one. I had an AS signature visa, and then signed up for another one a few months ago. Same mileage plan number as my first card. I got 20,000 miles in my account, and the $50 companion coupon as well. I did pay the annual fee. I called and cancelled the new card within a month or two of receipt, and asked that the credit limit on that card be consolidated with that of my older AS Visa. No problem.
Last edited by dgwright99; Mar 27, 2008 at 9:21 am
Mar 28, 2008, 3:05 am
#10
Join Date: Jan 2004
Location: SFO, SJC, OAK, LVK AA Lifetime Plat 2MM, LUV A-List, Hyatt Gold, SPG Lifetime Gold, Commercial Pilot (not employed by airlines)
Posts: 1,531
I ran through two of the cards last year. Got the bonus miles each time. Now when I apply (and I have tried several times since then) I don't even get a rejection letter. No card, no letter, no nothing. It's as if I never applied.
Mar 28, 2008, 5:05 am
#11
FlyerTalk Evangelist
Join Date: Mar 2004
Location: SGF
Programs: AS, AA, UA, AGR S (former 75K, GLD, 1K, and S+, now an elite peon)
Posts: 23,194
That's strange. I thought they had to, by law, send you a rejection letter with the reason you were declined, to prevent you from being declined over something you didn't know about (say, a false item in your credit report).
Mar 28, 2008, 10:32 am
#14
Join Date: Jan 2004
Location: SFO, SJC, OAK, LVK AA Lifetime Plat 2MM, LUV A-List, Hyatt Gold, SPG Lifetime Gold, Commercial Pilot (not employed by airlines)
Posts: 1,531
So did I! But nope--no rejection letter or anything. I've done it at least six times. Whether or not they are running my credit I don't know as I don't have any monitoring service.
Mar 28, 2008, 7:49 pm
#15
Join Date: Jan 2008
Programs: AS MVPG, CO, NW(now DL), Flying Blue
Posts: 6,554
If you are worried about 10-20 points either way then don't churn. If you have an otherwise excellent credit history then IME is doesn't maek much difference - I churn 3-4 mileage cards/year, and my FICO score is high 700s. A factor is the average age of accounts - so if you have a bunch of long-open accounts then closing newish accounts helps keep the average high.
