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New to FT Questions about credit card strategy

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Old Jul 17, 12, 9:55 am
  #1
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Join Date: Jul 2012
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New to FT Questions about credit card strategy

Hello Everyone... I am new to this forum (this is my first post), and I have so many questions about churning and have no idea where to start. I have been reading and all of you know how to do this, I was hoping I could get some advice.

1. How often do you sign up for a new CC? I just got the AmEx Delta and the United MP Explorer. I want to get more, but it seems like Chase is rejecting my request for a Starwook Preffered and Marriott rewards card... not sure why.

2. Does it make sense to ask chase to reduce my United limit to $10000 from $20000 so that I can get another Chase Sapphire for $10000?

3. Do you always book your travel directly through the airline? Or do you use expedia, travelocity, etc.?

4. I need to book a flight from DC (any airport) on Dec 26 to Chennai (we must land before 2 am Dec 28) and then from Chennai to Delhi on Jan 1, 2, or 3. Then Delhi back to WAS on Jan 6. I'm not sure where to start and how to go about this...

5. How often can I sign up for a new card?

Any advice would be helpful! Thanks in advance!!!

PS Sorry if this post is misplaced...

Last edited by mia; Jul 17, 12 at 10:01 am
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Old Jul 17, 12, 10:05 am
  #2
mia
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Welcome to Flyertalk. I have moved your question to the Credit Card Programs forum because most of the questions pertain to using cards to earn miles. You should use the Search this Forum function to look for existing discussions of the same topics.

I want to get more, but it seems like Chase is rejecting my request for a Starwook Preffered and Marriott rewards card... not sure why.
1. The Starwood Preferred Guest credit card is issued by American Express, not by Chase.

2. Every credit card issuer must tell you specifically why an application was declined. What reason(s) did they provide?
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Old Jul 17, 12, 10:14 am
  #3
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They have not yet provided a response. They are mailing us the response within ten days. I will update then. Thanks for your help!
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Old Jul 17, 12, 10:45 am
  #4
 
Join Date: Oct 2007
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I think Chase system denied you because they usually don't give a second card within 60 days.
But, yes, you can call them to reduce your United credit limit to the new card.
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Old Jul 17, 12, 11:44 am
  #5
 
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Originally Posted by vjetti View Post
1. How often do you sign up for a new CC? I just got the AmEx Delta and the United MP Explorer. I want to get more, but it seems like Chase is rejecting my request for a Starwook Preffered and Marriott rewards card... not sure why.
There are many different philosophies on this. However, keep in mind that the most important element is the quality of your credit history. If you use credit widely (keep utilization around 2%, let no-annual-fee cards age, etc.) you will generally be able to gain on the order of 6 cards per 6 months rather easily, as long as you spread the cards out to different issuers. More than that, depending on how hard you want to fight for approvals. But many of us aren't nearly that aggressive. Many of us patiently pick out only the best offers.

2. Does it make sense to ask chase to reduce my United limit to $10000 from $20000 so that I can get another Chase Sapphire for $10000?
NO. Never lower limits on Chase cards in advance. Always call the reconsideration line and offer to move the credit to the new card.

3. Do you always book your travel directly through the airline? Or do you use expedia, travelocity, etc.?
Balance the ability to get cash back from a third party site with the extra fees involved with making changes, both from the third party and the airline directly.

4. I need to book a flight from DC (any airport) on Dec 26 to Chennai (we must land before 2 am Dec 28) and then from Chennai to Delhi on Jan 1, 2, or 3. Then Delhi back to WAS on Jan 6. I'm not sure where to start and how to go about this...
Are you paying cash? If so, learn how to use the ITA search http://matrix1.itasoftware.com/... there is a thread somewhere on FT about it (maybe Mileage Run forum?)

If you want to use miles, you'll need to figure out a strategy. It looks like you want a round trip ticket with two stops. There are many different ways to do this. And, for a newbie, it won't be easy. My advice would be to learn about the different award ticket rules in the different US-based programs. Each forum here has many threads about booking different awards and getting maximum value. My intuition says to begin with American Airlines, as they have a lot of potential for creative routing (such as an Explorer award).

You should also STOP applying for cards until you know what miles you need. Otherwise, you'll figure out that you need miles you can't get anymore, due to too many credit inquiries.
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Old Jul 18, 12, 11:36 pm
  #6
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Join Date: Mar 2010
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Smile

Originally Posted by vjetti View Post
Hello Everyone... I am new to this forum (this is my first post), and I have so many questions about churning and have no idea where to start. I have been reading and all of you know how to do this, I was hoping I could get some advice.

1. How often do you sign up for a new CC? I just got the AmEx Delta and the United MP Explorer. I want to get more, but it seems like Chase is rejecting my request for a Starwook Preffered and Marriott rewards card... not sure why.

2. Does it make sense to ask chase to reduce my United limit to $10000 from $20000 so that I can get another Chase Sapphire for $10000?

3. Do you always book your travel directly through the airline? Or do you use expedia, travelocity, etc.?

4. I need to book a flight from DC (any airport) on Dec 26 to Chennai (we must land before 2 am Dec 28) and then from Chennai to Delhi on Jan 1, 2, or 3. Then Delhi back to WAS on Jan 6. I'm not sure where to start and how to go about this...

5. How often can I sign up for a new card?

Any advice would be helpful! Thanks in advance!!!

PS Sorry if this post is misplaced...
Hello vejetti,

If you need a good list of reconsideration phone #'s. You can access the one on my site. I would always suggest calling the appropriate reconsideration line after you apply if you don't get instant approval. Maybe wait till later in the day or the next day if you want. You want to speak with a credit analyst as they came make an instant decision on your application. They can also move credit lines around to accommodate for new cards. Sounds like this is what you line done in your situation.

To answer your questions:

1. Many including myself feel it is best to apply in batches every 90 days. You will get more instant approvals this way (with good credit). Gives your credit time to rebound from the previous batches inquires.
Apply for 1 card per issuer. Remember also that a business application is separate from a personal application. So you could do 1 biz and 1 personal per lender per 90 days. You can get more than 1 card per churn (I have many times from Chase, Citibank, BofA, and AMEX) but you will need excellent credit and a high income probably.

2. You can always ask a credit analyst to re-allocate your credit lines. Big suggestion. Never give up an credit line you have been approved for even if you are canceling a credit card. Ask to have the credit line moved to a card you are keeping open. You can then use that credit line to be re-allocated when you apply for a new card in the future.

3. If you get into churning credit cards you wouldn't be paying $$ for your tickets anymore. You'll be booking award tickets. If you do pay for a ticket, TopCashBack is a good site to get cash back from your bookings. Forget Travelocity, Expedia. Or if you get a AMEX Membership Rewards card you can book through Membership Rewards and get extra points.

4. Need more info. Are you using miles or purchasing a ticket? Be happy to help. Just email me or PM.

5. Every 60 - 90 days

If you have more questions, feel free to email me. Have fun! Enjoy your free travel!

Last edited by mia; Jul 19, 12 at 12:31 pm
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Old Jul 19, 12, 12:23 pm
  #7
 
Join Date: May 2008
Posts: 211
Capital One reconsideration phone number

Just denied Capital One card despite 753 credit score. Would like to discuss with a Cap One representative but the staff at the toll free number did not have authority to reconsider. Anyone have a telephone number to access a person who can actually discuss and reconsider my application?
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Old Jul 19, 12, 12:29 pm
  #8
mia
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Programs: AA 2MM Perpetual Platinum; HH, Marriott & SPG Gold
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Try here:



Capital One
Note: Capital One doesn’t take customer initiated calls regarding application status until you have received an answer via mail. They also do not take customer initiated calls for credit line increases.
800-951-6951 (Customer Relations)
800-548-4593 (Application Status (automated)
800-625-7866 (Account Specialist)

Last edited by mia; Jul 19, 12 at 12:42 pm
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