My wife and I currently have the following cards:
-CapitalOne Venture (applied & received 2/11)
-Chase Sapphire (applied & rec 9/25/11)
-US Airways MC (applied & rec 9/30/11)
How does churning work? Do you have to cancel the credit card and wait a certain time before applying for another deal? How do you know how long you have to wait?
Lastly, my wife got a mailing from Southwest saying she was pre-approved for the Chase SW Plus card with 50k bonus miles. How long are we supposed to wait until we can apply for a new Chase card?
-CapitalOne Venture (applied & received 2/11)
-Chase Sapphire (applied & rec 9/25/11)
-US Airways MC (applied & rec 9/30/11)
How does churning work? Do you have to cancel the credit card and wait a certain time before applying for another deal? How do you know how long you have to wait?
Lastly, my wife got a mailing from Southwest saying she was pre-approved for the Chase SW Plus card with 50k bonus miles. How long are we supposed to wait until we can apply for a new Chase card?
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Quote:
Welcome to Flyertalk.Originally Posted by mike s
...Do you have to cancel the credit card and wait a certain time before applying for another deal? How do you know how long you have to wait?
In the USA there are five primary issuers of rewards credit cards:
- American Express
- Bank of America
- Barclay's
- Chase
- Citi
The answers to your questions are different for each issuer. The art is learning each issuer's system: which credit bureau(s) they pull in your area, how they handle simultaneous applications for multiple cards, if they permit multiple cards linked to the same rewards program, if they disqualify previous holders of the same (or related) card from bonuses, how to appeal declined applications, etc.
Start with this thread to understand how Chase works:
http://www.flyertalk.com/forum/credi...er-thread.html