SpammersAreScum

I tried for a Cap One Venture a year ago, and was turned down:
- too many recent apps (didn't specifically say 24 months, that I can recall)
- no revolving credit activity (a fair cop -- I've not had any loans in several years)
- not enough income for expenses (silly; I'm retired, so my "income" is precisely what I need it to be)

For what it's worth I was 11/24, 6/12. I tried calling for reconsideration, but they don't seem to have a number for that per se.

jiaogulan

Nothing revolutionary but got the Citi AT&T card yesterday. I'll take 10,000 TYP's for $1,000 I am going to spend anyways. Even after the AA debacle, Citi continues to be a silver lining.

Robl

After a very long run with Citi/AA now am trying to get under 5/24. So I'm planning a business card churn. Instant approval today for BOA Platinum Plus Business Card ($300 after 3k spend). If the popups stop will try Amex next.

Adelphos

I present this as an option: the Amex Delta Starter pack (for those without any of these cards and with three Amex credit card slots)

Delta Gold (70,000 mile sign up bonus)
Delta Platinum (100,000 mile sign up bonus)
Delta Reserve (100,000 mile sign up bonus, 20,000 mile MQM sign up bonus)

Apply now
Spend $10,000 on Delta Gold in 2020 (get sign up bonus, miles, plus $100 delta credit)
Spend $50,000 on Delta Platinum in 2020 (get sign up bonus, miles, plus 20,000 MQM)
Spend $60,000 on Delta Reserve in 2020 (get sign up bonus, miles plus 30,000 MQM)
Fly 5,000 miles on Delta in 2020 (one NYC to LAX transcon in coach will do) in 2020
Renew all three cards in 2021 for one extra year (to get remaining sign up bonuses and companion passes)

Get:
At least 390,000 Delta miles (this assumes no bonus category spend) - value of $4,290 at 1.1 cents per mile
$100 Delta Flight Credit - value of $100
Delta Platinum Status through January 2022 - N/A
One domestic coach companion ticket - value of $250
One domestic first class companion ticket - value of $500
Delta SkyClub and Centurion Lounge Access - value of $500
Total value: $5,640 (with no value ascribed to Platinum status, which many value in the thousands)

Cost
Delta Gold Fees ($100)
Delta Platinum Fees ($250 + $250)
Delta Reserve Fees ($550 + $550)
Opportunity Cost of $120,000 of spend at 2% ($2,400)
Total Cost: $4,100

mia

Note that the lounge access is only valid when flying Delta, and no free guests.

radonc1

And that you have to spend $120K in a year using a credit card vendor that makes MSing (no Simon, no OfficeMax or Staples) far more difficult and costly to perform. (And if going the MS route, one needs to include that pesky conversion factor cost including purchase of VGC cost as well as conversion to cash equivalents.)

So, yes. If you are a very big spender, this is somewhat of an option. However, if I am spending that much (and a big spender to boot), wouldn't it be easier to just fly 4 segments on UA and spend $12K on plane tickets (I suspect 2 international RT F fares would do)?
Voila!, You're a Plat

jiaogulan

I'm not a big spender in this way but I like your thought process and how you laid this out!

jsl_313

I think you're grossly undervaluing the opportunity cost by just assuming 2% at numbers that large. If someone is signing up for 3 Delta cards, I'd assume that they're in this game deep enough that they would sign up for several other cards in the same year. With an extra 110k of organic or manufactured spend, you could potentially get tens of thousands of dollars of value from SUBs. Plus, paying the AF to receive the extra miles at renewal is mediocre value at best (I wouldn't pay $99 for 10k skymiles). We could debate the value of status, but I'd argue it's not anywhere close to the opportunity cost of several SUBs.

If we're recommending 3 cards, I'd say get the personal gold, business gold, and business platinum, ending up with 220k miles for 7k spend and $250 in AFs.

Get:
At least 227,000 Delta Miles (this assumes no bonus category spend) - value of $2,497 at 1.1 cents per mile

Cost:
Delta Platinum Fees ($250)

Much better value for your time and money than trying to maximize every benefit by spending an extra $110,000 on Delta cards, IMO.

walterj

Opportunity Cost is not a real or true cost. The concept is just a business analysis tool for comparison purposes. The real cost would only be $1,700 (plus any fees if you do MS).

Robl

After being in pop-up hell for 6 months was approved today for Hilton Business card (125k, $100 statement credit) despite Amex and Citi churn history so don't give up on Amex.

flyer4512

If you spend $$$ on AMEX cards you probably won't have an issue getting the Amex bonus for card you never held.

During the AA days I'm guessing most people were putting most if not all of their spend towards the AA SUB

bobert24

The AA churn left me a little out of the loop (or lazy, or something). I've seen several references to NLL Amex links, and Chase pre-approved/bypass 5/24 links. Where are people finding those? DOC? Reddit? Other threads here on FT?

isle-hawg

Did you and the Mrs.get caught up in the latest AA acct shutdown?

walterj

@bobert24
1) NLL Amex links are targeted referral links that are sent from time to time. People share them on doctorofcredit. I just saw there are new NLL targeted for Amex business plat reported by middleagemiles. My DW got her third gold card that way.

2) If you are lucky, log in your chase account and check offers “Just for You.”, these offers bypass 5/24, I guess if interest rate is fixed. I have never had the luck. I only get offered checking bonus. I wonder if I open a checking acct, if I will get better offers.

LWT3

I don't think so. I've had a checking account with Chase for over 20 years, and with one exception, I've never been targeted for a card offer. The one exception was a couple of months back before the AA shutdown. I didn't jump on it immediately (I don't even recall why I waited, but I was plotting my credit card strategy), and it disappeared after a few days, never to return. I assumed if Chase wanted me to have the card they would have let the offer stand for some time, but when I went back to it less than one week later, it was gone. So if you do get a random offer that way, jump on it quickly. But every time I see a reference to new "selected for you" offers on DOC or wherever, I check but am never targeted.