kdm31091

Well, BOA did shut down the accounts of people who got more than 4 of those cards, but yes, I would definitely be expecting a new policy from BOA in the near future.

DrRodneyMcKay

I am starting to get the feeling that CC are the next target in the mileage game after the frequent flyer programs. All the major U.S. carriers have gone revenue-based for their FF programs, partially to prevent the kinds of things we're doing, and now the banks are following suit to prevent churning. Sigh.

Good to know it's per type of card; hopefully they don't take away their sign-up bonuses from their co-branded cards as they've done with the citi thank you cards.

seen_chong

agreed. stuff like that just speeds up the inevitable.

I'm not mad at anyone who keeps previously unknown churn opportunities off the public forums.

NYCRuss

DoC is now reporting that the old rules will apply through August 27.
http://www.doctorofcredit.com/apply-...8th-old-terms/

It might also be possible to apply under the old rules on August 28, but the article is not clear about that.

moretimeoffguy

Time for app data points. Post 'em if you've got 'em. I was close to applying for the Citi Hilton Reserve before reading about Citi's new rule; But canceled a Citi Hilton Visa Signature back in April. Don't want another hard credit pull if Rejection is a likely outcome. Would be nice if I could get in under the old terms. Weird that they would release the new terms on the applications without the terms being effective immediately / presently.

hiima

Why don't you be a data point

flyer4512

You won't have data points for weeks as the only way to be 100% positive a bonus posted or was denied is to actually make the spend. Even if you go by letters and the shot clock you are still talking a week or more.

Meanwhile it seems you have 15 days, enough time to get 2 Citi cards depending on the date of your last app

I would just apply

StatusChallenged

Planning on getting another AA after my WE upgrade, and hoping mailers work after the date, and use a mailer then. Which I wasn't planning to do but if they are going to be that restrictive I might as well get the most out of it while i still can

sdsearch

I applied for a Citi AA Gold card on Aug 1. Because of their backlog and slow approval process, I didn't get approved till yesterday (11 day days later). Now I have to wait about a week for the letter. That'll be two and a half weeks after applying that I expect I might get the letter.

So by the time anyone who applies today gets the letter and can post a data point, it might already be Aug 28!

So waiting for data points means you have to wait until it's too late!!

Btw, while this may cost me miles, it might save me money! Since they'll now count the AA Gold the same as my two AA Plat which are less than a year old, I might as well cancel my two AA Plat (less than a year old) as soon as my AA Gold letter arrives and avoid the risk of not getting retention bonuses on them the next 2 years (while I would have been waiting for them to 24-month-out each).

Churnman

Rumors, even from a bank employee, won't help you if you apply for a cc in which the terms already state the new rule. Good luck telling them, "but I heard on a blog that the new rule wasn't supposed to be in effect until...?" Their likely response, "well it was stated right in the application... would you like to send me a copy of the application page with the rules and if it doesn't have the new rule..." So at this point, check the terms carefully if the new rule is already there and then you can decide if it's worth the chance.

canyoncar

Now I wish I would've gotten more of those. I restrained myself in order to save my AAoA for new Citi cards, imagine that.

Happy

It seems to me the "close" includes in the restriction is a very dump policy.

If it is open included, people might keep the card longer, especially if a retention offer is made.

However since close is treated as the same as open when it comes to set the clock, one should cancel the card immediately after receiving a bonus - this way it only adds 2 to 3 months to the 24 months - probably the shortest penalty box you need to be in.

Genius marketing from Citi as always.

DiMAn0684

Totally agree with Happy. I've signed up for the Premier card roughly a year ago and it became one of my most used cards. If the policy was in place back when it was opened I'd probably closed the card after 1-2 month and not even bothered spending time evaluating whether it was working for me.

moretimeoffguy

Thanks to all, makes sense re: perhaps too late for data points. I may give it a shot and see what happens. Would rather be rejected outright, however, than approved without qualifying for the sign-up bonus, since that would set the clock back for any other Citi Hilton cards.

I'd been contemplating going for another Barclay's cc first. My experience has been Instant Approval with Barclay's if it's the first app I make after several months of no new apps. Pending and greater chance of rejection otherwise. So if I pull the trigger on the Citi Hilton Reserve, I may make that the second app, after a Barclay's, given the uncertainty involved. On the other hand, I'm not eager to meet two spends; my current preference has been to apply for cards serially: get one only, meet spend, then wait a few months before the next app.

moretimeoffguy

Double-checked my records and I canceled my last Citi Hilton Reserve around 23 months ago. So, I'd likely not receive the bonus under the "old" rules any. IIRC, can't get the bonus again on a given card product if you applied for or canceled the same card product within 24 months. Way way back, believe it was 18 months after applying for.