when can i cancel card after miles post
 

I received my AA Visa in July, 2010 and after spending required amount
the miles posted in mid- november.

What is the general thought on how soon i can cancel the card without
worrying about them recouping the miles, or is this nothing to worry
about. Also, i have another card that i got a bonus just for signing up.
when can i cancel that one.

i am trying to free up in case i need to churn more cards.

the general rule that i've seen often is 6 months.....some 1 may confirm this re the aavisa....what is the other card? good luck...

there is a thread below noob ?'s on cc canceling that might be of interest to you....there i the search ability available....

My other card is the continental card.

I have no problem waitin the 6 but any other opinions are welcome

Wait why would you wait 6 months? I am a bit ignorant on this, but has anyone actually had miles WITHDRAWN from their account like that? As I understand it, if you fulfill the legal obligations in the T&C of the credit card they have no grounds for retroactively removing miles they already posted.

Best move is to spend them ASAP. :cool: Then there is nothing to take back.

Edit: It appears 6 months is the rule of thumb on FT, so I did not mean to mislead above.

People have had miles withdrawn from their accounts...worse yet, people have used the miles they earned, canceled cards, then an attempt to withdraw the miles back is made, but there are obviously no miles left in the account, so the airline comes back and demands you pay retail for the balance (aka pricey!).

In the cases you cite, were there explicit stipulations about this in the T&C of the credit card offer? Link?

I suppose it is this line in the T&C: "We may change the terms of this reward program at our discretion. If you violate or abuse this reward program, you may forfeit some or all of your miles."

Way to be nebulous, CC companies. I don't blame them though. Still, a bit slimy.

that retribution is what i want to avoid. so i gather 6 months is a reasonable time to avoid the perception i was just churning. i will assume its 6 months from day of getting card and not getting the miles.

not just miles
 

It is not just the risk of having miles yanked, it also does not look good on your credit report. Credit card companies can deny you for opening and quickly closing cards over and over. Chase denied me for having too many cards opened in a short time. I usually wait until the annual fee comes due and then cancel, so I can use that as a legitimate reason why I am closing the account. It also looks better on my credit report to pay a card ontime for a full year before requesting it be closed.
if you are trying to churn (which is near impossible anymore) 6 months seems long enough...just be aware that it might take another year (or more) after you cancel to be eligible for a bonus again.

Cancel Airline card
 

I played it safe - canceled my Continental card right before it renewed, did not want to pay $25 for 2011!

:) I'm not sure when it is best to cancel; but I agree it is best to spend points as soon as possible.:) I have some goals that will require me to save points longer than I would wish; but I plan to spend those points the moment I reach that goal.^