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Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
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Re: Harms of canceling a brand new unused American Express Gold Card

Opening cards and then closing them after getting the sign up bonus really draws the ire of lenders.  Chase in particular has started shutting down apps of repeat offenders. It's a dangerous game to play. 

Frequent Contributor
mikka1
Posts: 272
Registered: ‎12-28-2011
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Re: Harms of canceling a brand new unused American Express Gold Card


boomhower wrote:

Opening cards and then closing them after getting the sign up bonus really draws the ire of lenders.  Chase in particular has started shutting down apps of repeat offenders. It's a dangerous game to play. 


Sure it is :-)

Though sometimes sign-up bonuses are definitely worth playing it.

Many banks start to add a smallprint now, like "You are not eligible for a bonus if you had a similar card product with the bank in the last XX months" where XX tends to grow and grow (I think Citi already has either 12 or 18 months for some high-bonus AA cards).

I don't really see any lender blacklisting you for doing such things - it's only their fault they still have those loopholes :-)

In my wallet now: Amex PRG NPSL, Amex BCE $15k $17k (thanks to recent CLI), Chase Freedom 11k, CSP $6k, Chase United ME $5k, Citi Dividend $5.6k, Discover It $4.5k and a handful of other cards...
TU Dec 2013 - 752Sep 2013 - 764 - new all time maximum

Obsolete data &colon:smileywink: Current TU - probably around ~750. I am now applying only for cards I can have fat sign-up bonuses on, repay them right away and close before next year. That's why BKLSBNKDELAWARE probably blacklisted me long ago, LOL...

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