Three Quick Questions
 

How much time must elapse between closing a card and opening the same card in order to receive the full miles promised by the new card?

What is the approximate average hit that we take on each credit pull? 5 points? 10? I know this is impossible to answer precisely, but would love to hear from people with specific experiences.

Is it okay to apply for 5-6 cards within a short period of time even if the bank offering the card is the same but the airline is different? For example, would opening a Chase SWA card and a Chase CO card simultaneously render you ineligible for bonus miles on one or the other?

Thanks all!

In reverse order:

Applying for more than 2 cards with the same bank within 60 days is very hard (impossible with Citi). I did manage to get the Chase CO, Chase Marriott, Chase SWA personal, and SWA biz all within 60 days (required a lot of phone pleading). I got the bonuses on all 4. You're fine with CO and SWA bonuses though. Only the card must be different.

Credit hits have been minimal for me and others I've worked with. 5 or 10 points total which comes off after a couple months. My score actually went way up after 2 months because of lower utilization.

Your 1st question is the winner we all are trying to figure out. It seems to vary between cards and companies. AmEx has a long memory in most instances but recently some people have reported new bonuses for repeat cards. Citi is currently stonewalling with it's new anti-churn policy for personal cards and we don't know how long it will be. Guesses are a year but we don't know yet. Citi biz is 90 day repeat cards and bonuses though. Chase is supposed to, like AmEx never allow repeat bonuses, but again there have been many exceptions.

1. Most card bonuses are only available for 1st time card holders... I'm not aware of any cards that can be churned anymore.

2. I'm not certain, but IMO, it's not much

3. I wouldn't apply for 5-6 cards in say a week.. especially not with the same bank - there are no fears of ineligibility, but there are real fears of not being approved at all.. I typically limit myself to a max of 2 cards per bank within a few months of each other..

But no, you wont be ineligible for the CO bonus if you apply for the SWA card simultaneously.

Citibiz is 90 days??? and you can churn it?
I haven't heard this- is that from canceling or opening?

Justin and Tasso, this is super helpful!!!! We should put together a spreadsheet here on FT that members could use to report time lapses and approval decisions.

False, you can apply for 2 Citi cards on the same day and get them both approved.

I think he said more than 2 cards, not 2 cards. What has your experience been w/ 3+ cards within 60 days?

Check the 75,000 mile Citibank AA thread. Biz allows a new card 90 days after opening a prior one but some people say it needs to be 90 days after closing a prior one. Also if you're using EIN instead of SSN (sole prop) it's easier. I opened a biz in May, canceled in July, and opened a new one in January, both with bonuses and both under my SSN.