Author Topic: Maximize Your Churning (Bank Account & Credit Card)  (Read 39046 times)

katsiki

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #150 on: February 29, 2020, 07:52:47 AM »
Anyone doing the latest BBVA offer?  I think I will...  Spouse did a similar one in 2018 or 2019.  It was pretty easy.

https://www.doctorofcredit.com/bbva-compass-200-checking-50-savings-bonus-nationwide-available-online-2/

I signed up in November 2019 and the bonus just posted last week.

Thanks for mentioning your timeline.  Good info.

DadJokes

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #151 on: March 10, 2020, 07:28:08 AM »
I had a couple statements close this week, adding 100k UR points, half from referrals and half from a bonus. 2020 is shaping up to be a great year. I'm still only 3/24 on Chase, thanks to going through a handful of business cards. Below are just the credit card rewards earned so far.

Earned
Cash Value
Travel Value
  Chase UR105,891
$1,059
$1,588
  Southwest RR*133,231
  1,332
  1,998
Total Earned
2,391
3,587
Fees
  Sapphire Preferred
95
95
  SW Premier
      99
      99
Total Fees
194
194
Referral Taxes
      60
      60
Profit
$2,137
$3,333

*Does not include value of Companion Pass
« Last Edit: March 10, 2020, 07:41:26 AM by DadJokes »

Tass

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #152 on: March 31, 2020, 08:08:10 PM »
I'm working on a $300 UnionBank direct deposit bonus; expecting that in mid-May. In February I was rejected for the Barclays AAdvantage Aviator card; now that we can't fly anywhere, that doesn't seem like a big loss! I've been solicited for a Bank of America card, but was previously rejected for it, and my partner was just rejected for it despite having a banking relationship with them (which I do not), so that seems risky. I've been waiting to be solicited for a bank bonus with them before retrying a card bonus.

Meanwhile, I've been keeping my Wells Fargo bank account open as leverage to apply for a card with them, and I've been solicited for the Propel card, $200 bonus on a $1000 spend. However, April-July is also a 5% grocery quarter for the Chase Freedom, and that's my most flexible spending; I'm only expecting about $6-700 in other easily transferable expenses in the next 3 months. (As I've mentioned before, I'm not currently in the manufactured spend game.) Of course, I could just accept the loss of the 5% reward in pursuit of the 20% return for the bonus.

MonkeyJenga

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #153 on: March 31, 2020, 08:54:21 PM »
Meanwhile, I've been keeping my Wells Fargo bank account open as leverage to apply for a card with them, and I've been solicited for the Propel card, $200 bonus on a $1000 spend. However, April-July is also a 5% grocery quarter for the Chase Freedom, and that's my most flexible spending; I'm only expecting about $6-700 in other easily transferable expenses in the next 3 months. (As I've mentioned before, I'm not currently in the manufactured spend game.) Of course, I could just accept the loss of the 5% reward in pursuit of the 20% return for the bonus.

I was just approved for Propel! I guess I'll use Freedom for groceries until I get the Propel card, thanks for heads up on the 5% back. I can't do manufactured spend either.

Tass

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #154 on: March 31, 2020, 08:59:52 PM »
I was just approved for Propel! I guess I'll use Freedom for groceries until I get the Propel card, thanks for heads up on the 5% back. I can't do manufactured spend either.

Make sure you activate the 5% earning! You should get an email about it, or you can log into the website and look for "5% categories."

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #155 on: March 31, 2020, 09:04:13 PM »
Planning on moving my emergency fund to CIT to get a $300 bonus an 1.75% rate.  Gotta make SOME money with my money in these crazy times...

MonkeyJenga

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #156 on: March 31, 2020, 09:20:17 PM »
I was just approved for Propel! I guess I'll use Freedom for groceries until I get the Propel card, thanks for heads up on the 5% back. I can't do manufactured spend either.

Make sure you activate the 5% earning! You should get an email about it, or you can log into the website and look for "5% categories."

Just did! Thanks. I'm also encouraging my bf to apply for Freedom, so he can get the signup bonus *and* the 5% back.

billy

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #157 on: May 11, 2020, 05:24:10 PM »
After I'm done referring CC for P2, I should cancel the CC even if it does not have a annual fee, so I can be eligible for the sign up bonus later right?

Morning Glory

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #158 on: May 11, 2020, 06:00:06 PM »
After I'm done referring CC for P2, I should cancel the CC even if it does not have a annual fee, so I can be eligible for the sign up bonus later right?

No I think for most of them the 2 years start from when you last opened the card or got the bonus. It varies so read the fine print.

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #159 on: May 16, 2020, 10:59:54 AM »
After I'm done referring CC for P2, I should cancel the CC even if it does not have a annual fee, so I can be eligible for the sign up bonus later right?

No I think for most of them the 2 years start from when you last opened the card or got the bonus. It varies so read the fine print.

And if its an Amex card definitely don't cancel until its over a year.  They might claw back you bonus or not give you another card because of that "abusive" (to them) behavior of getting a bonus and abandoning the card.

Tass

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #160 on: May 21, 2020, 12:15:26 AM »
I've just received $300 from UnionBank for direct depositing to their free checking account. I don't know of an obvious next choice for another bank bonus; maybe I keep hoping to be solicited by BoA?

So far in 2020:
- $400 from Wells Fargo bank
- $300 from UnionBank
- $161 cc cashback

In progress:
- $200 from WF Propel

In total this makes up 8-9% of my income so far this year, which is pretty baffling.

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #161 on: May 21, 2020, 08:15:27 AM »
I'm ready for a new credit card. I am under 5/24 because I am in 2 player mode and did business cards last year, also was taking a break for the last few months until my refi went through. I would be happy to use someone's referral link for CSP, if you PM it to me.

MasterStache

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #162 on: May 21, 2020, 08:42:47 AM »
I'm ready for a new credit card. I am under 5/24 because I am in 2 player mode and did business cards last year, also was taking a break for the last few months until my refi went through. I would be happy to use someone's referral link for CSP, if you PM it to me.
I sent you a referral link as I just got the CSP bonus about a month ago. Took me a long time to get back under 5/24. My spouse was at 3/24 so we went a little crazy on Chase Biz and personal cards. 

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #163 on: May 21, 2020, 08:59:33 AM »
I'm ready for a new credit card. I am under 5/24 because I am in 2 player mode and did business cards last year, also was taking a break for the last few months until my refi went through. I would be happy to use someone's referral link for CSP, if you PM it to me.
I sent you a referral link as I just got the CSP bonus about a month ago. Took me a long time to get back under 5/24. My spouse was at 3/24 so we went a little crazy on Chase Biz and personal cards.
I used your link, thanks. Last year and early this year we did the ink cash x2, ink unlimited x2, and capital one savor for DH when the bonus was still $500.

MasterStache

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #164 on: May 21, 2020, 10:14:20 AM »
I'm ready for a new credit card. I am under 5/24 because I am in 2 player mode and did business cards last year, also was taking a break for the last few months until my refi went through. I would be happy to use someone's referral link for CSP, if you PM it to me.
I sent you a referral link as I just got the CSP bonus about a month ago. Took me a long time to get back under 5/24. My spouse was at 3/24 so we went a little crazy on Chase Biz and personal cards.
I used your link, thanks. Last year and early this year we did the ink cash x2, ink unlimited x2, and capital one savor for DH when the bonus was still $500.
Bummer, we missed the Savor bonus. We did manage two CIP's for my spouse using SS for one and EIN for the other. It appears the bonus has increased to 100K UR points but requires 15K in spending. That sucks

DadJokes

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #165 on: May 21, 2020, 11:06:44 AM »
I'm ready for a new credit card. I am under 5/24 because I am in 2 player mode and did business cards last year, also was taking a break for the last few months until my refi went through. I would be happy to use someone's referral link for CSP, if you PM it to me.
I sent you a referral link as I just got the CSP bonus about a month ago. Took me a long time to get back under 5/24. My spouse was at 3/24 so we went a little crazy on Chase Biz and personal cards.
I used your link, thanks. Last year and early this year we did the ink cash x2, ink unlimited x2, and capital one savor for DH when the bonus was still $500.
Bummer, we missed the Savor bonus. We did manage two CIP's for my spouse using SS for one and EIN for the other. It appears the bonus has increased to 100K UR points but requires 15K in spending. That sucks

For a while, if you still had an older referral link, you could still get the old deal. However, with covid-19, I think Chase has become a lot more restrictive with business cards.

MasterStache

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #166 on: May 21, 2020, 11:14:49 AM »
I'm ready for a new credit card. I am under 5/24 because I am in 2 player mode and did business cards last year, also was taking a break for the last few months until my refi went through. I would be happy to use someone's referral link for CSP, if you PM it to me.
I sent you a referral link as I just got the CSP bonus about a month ago. Took me a long time to get back under 5/24. My spouse was at 3/24 so we went a little crazy on Chase Biz and personal cards.
I used your link, thanks. Last year and early this year we did the ink cash x2, ink unlimited x2, and capital one savor for DH when the bonus was still $500.
Bummer, we missed the Savor bonus. We did manage two CIP's for my spouse using SS for one and EIN for the other. It appears the bonus has increased to 100K UR points but requires 15K in spending. That sucks

For a while, if you still had an older referral link, you could still get the old deal. However, with covid-19, I think Chase has become a lot more restrictive with business cards.
I am going to fall back down to 4/24 in a couple months and was going to shoot for the CIP using my spouse's referral. Probably not now. I may go for a 2nd CIC. Not sure I want to push my luck though opening a whole bunch of Chase cards in a short period of time. 
« Last Edit: May 21, 2020, 11:20:28 AM by MasterStache »

billy

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #167 on: May 21, 2020, 04:26:55 PM »
Chase in denying business CC when applying with sole proprietor, I was just about to apply too but caught wind, are there other banks that are still approving sole proprietor business CC applications?

Also what's CIP, CIC, and CSP?

DadJokes

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #168 on: May 21, 2020, 04:49:06 PM »
Chase in denying business CC when applying with sole proprietor, I was just about to apply too but caught wind, are there other banks that are still approving sole proprietor business CC applications?

Also what's CIP, CIC, and CSP?

CIP = Chase Ink Business Preferred
CIC = Chase Ink Business Cash
CSP = Chase Sapphire Preferred

MasterStache

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #169 on: May 21, 2020, 04:51:13 PM »
Chase in denying business CC when applying with sole proprietor, I was just about to apply too but caught wind, are there other banks that are still approving sole proprietor business CC applications?

Also what's CIP, CIC, and CSP?

Approved for BofA Business Advantage with sole proprietor. They did have an increased $500 signup bonus. Not sure if it's still around. I have a legit registered business. Just use sole proprietor for the spouse.

MasterStache

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #170 on: May 24, 2020, 06:29:49 AM »
Chase in denying business CC when applying with sole proprietor, I was just about to apply too but caught wind, are there other banks that are still approving sole proprietor business CC applications?

Also what's CIP, CIC, and CSP?
FYI, tried applying for the CIC for spouse and denied at 4/24 and two other Chase biz cards. So yeah, Chase is definitely tightening the reigns on biz card approvals. Time to start looking elsewhere.

Morning Glory

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #171 on: May 24, 2020, 08:18:16 AM »
Chase in denying business CC when applying with sole proprietor, I was just about to apply too but caught wind, are there other banks that are still approving sole proprietor business CC applications?

Also what's CIP, CIC, and CSP?
FYI, tried applying for the CIC for spouse and denied at 4/24 and two other Chase biz cards. So yeah, Chase is definitely tightening the reigns on biz card approvals. Time to start looking elsewhere.

Was it her first business card or did she have some already? And what did you put for the name and type of business?

I got one for DH in January and it worked fine (used his name for the name of the business and"hobbies" as the business type (he legit sells hobby items online but doesn't make a profit so we don't report to the IRS [collecting hobby where it is cheaper to buy lots and resell the items he doesn't want, rather than to buy just the ones he wants]).

For myself I use my name and "farm rental" because I get a 1099PATR from the gas company every year that I have to report to the IRS as farm rental income.

Morning Glory

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #172 on: May 24, 2020, 08:26:02 AM »
Question: has anyone been able to direct deposit their paycheck into their spouse's account. I have never tried this and there are a couple bonuses I could get for DH if this works.

Also what are the rules for business bank accounts if you don't have a real business? Are they harder than credit cards?

billy

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #173 on: May 24, 2020, 08:31:55 AM »
Have not tried and it won't work unless it's a joint account.


MasterStache

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #174 on: May 24, 2020, 09:11:11 AM »
Chase in denying business CC when applying with sole proprietor, I was just about to apply too but caught wind, are there other banks that are still approving sole proprietor business CC applications?

Also what's CIP, CIC, and CSP?
FYI, tried applying for the CIC for spouse and denied at 4/24 and two other Chase biz cards. So yeah, Chase is definitely tightening the reigns on biz card approvals. Time to start looking elsewhere.

Was it her first business card or did she have some already? And what did you put for the name and type of business?

I got one for DH in January and it worked fine (used his name for the name of the business and"hobbies" as the business type (he legit sells hobby items online but doesn't make a profit so we don't report to the IRS [collecting hobby where it is cheaper to buy lots and resell the items he doesn't want, rather than to buy just the ones he wants]).

For myself I use my name and "farm rental" because I get a 1099PATR from the gas company every year that I have to report to the IRS as farm rental income.

No she has two CIP's. Got the first last year using SS# and the 2nd about 3 months ago using an EIN.

DadJokes

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #175 on: May 24, 2020, 11:56:50 AM »
Question: has anyone been able to direct deposit their paycheck into their spouse's account. I have never tried this and there are a couple bonuses I could get for DH if this works.

Also what are the rules for business bank accounts if you don't have a real business? Are they harder than credit cards?

Yes, it's a pain for my wife to change her DD, so my DD is going into a PNC account that is under her name only.

Business bank accounts will probably vary by bank. I've applied for two with a "business." Both required opening the account in-person, but both were successful. The questions were similar to what you answer for a business credit card application.

terran

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #176 on: May 24, 2020, 12:34:45 PM »
Question: has anyone been able to direct deposit their paycheck into their spouse's account. I have never tried this and there are a couple bonuses I could get for DH if this works.

Also what are the rules for business bank accounts if you don't have a real business? Are they harder than credit cards?

Yes, it's a pain for my wife to change her DD, so my DD is going into a PNC account that is under her name only.

Business bank accounts will probably vary by bank. I've applied for two with a "business." Both required opening the account in-person, but both were successful. The questions were similar to what you answer for a business credit card application.

We have sent my wife's direct deposit to my account at chase (two different times).

My wife has opened a Chase business account based on her VERY small ($25 last year, but it varies) amount of schedule C income. I've opened the same accounts, but have a more legitimate business.

billy

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #177 on: June 15, 2020, 07:44:58 AM »
On planing my CC churning, should i go by this,

American Express: One bonus per card per lifetime.
Bank of America: No restrictions.
Barclay: No restrictions.
Capital One: No restrictions.
Chase: One bonus per card every 24 months.
Citi: Card must have been closed for 24 months.
https://www.creditcards.com/credit-card-news/getting-same-credit-card-twice/

It looks like Citi is the only CC you would want to close to churn, and Chase like will allow you to have two of the same CC and still give you the sign up bonus?


Tass

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #178 on: July 09, 2020, 09:18:39 PM »
I just got $200 from the Wells Fargo Propel card. I'll be keeping that one for the 3% on dining and travel. I also just finished a year of 3% on everything with the Chase Freedom Unlimited - I probably need to close that card so that I can churn it later. Or possibly I could have it changed to a third Chase Freedom.

Not sure what's up next yet.

MonkeyJenga

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #179 on: July 09, 2020, 11:13:28 PM »
I recently got the Propel bonus too! Moved on to Chase Sapphire, $600 bonus for $4k spend. I usually can't hit that high a spend, but I'm buying a bike and donating a bunch of money.

Tass

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #180 on: July 11, 2020, 09:38:03 PM »
Nice work - I got the Sapphire two years ago with only a $500 bonus on $3k spend.

billy

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #181 on: October 01, 2020, 05:22:10 PM »
I want do a product change of my citi premier to citi costco or another no fee CC as I'm coming up on my 1 year with a $95
annual fee in 20 days. But I heard it takes 51 days to do a product change and you also have to have the CC for at least 1 year? So I guess if I don't want to pay the annual fee I should cancel?

alcon835

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #182 on: October 02, 2020, 06:52:45 AM »
Billy, just call them and let them know you want to change it. They'll change you over rather than cancelling. Worked for me earlier this year.

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #183 on: October 03, 2020, 10:24:02 AM »
Billy - You may have to wait until its been at least a year to product change.  As long as you PC within 30 days of your annual fee posting they will refund it.

sonofsven

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #184 on: July 21, 2021, 08:56:52 AM »
Thanks to this thread and Dr of Credit I started to try to maximize my credit card spending and then started going for bonuses.
US Bank Business Credit received 5/1/21 (spend $7500 receive 75,000 point bonus), completed spending requirements and cashed in a $850 statement credit 7/18/21.
I'm not really interested in traveling right now so I'm going for statement credits which is essentially cash.
It was a little bit rocky at first as US Bank only approved a $500 credit limit (!?), I asked for an increase and got one to $5000, but they did a "hard pull" I believe, and I'm not really sure what the ramifications of that are, but I missed out on $6500 worth of spending on a building permit, oh well.

Inspired by this first success, I read more about Chase and the 5/24 rule so I applied and got a Chase Preferred card (spend $4000  for 100,000 points, essentially spend $4k get $1k) this last weekend. This one does have a non-waiveable $95/ year fee. According to Chase my FICO is 832, so prime time for me .

Last night opened a checking account with Monifi for a deposit $2k and receive $250 bonus deal.

Fun so far, but I imagine the approvals will eventually dry up for me?

Any advice appreciated.

zoochadookdook

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #185 on: August 12, 2021, 03:29:14 PM »
Just chiming in here

I've done a fair amount of churning. Ran 3 CIP cards for $3000 back when paying off my 15k in student loans last year - Just hit the chase ink cash 75000 point bonus - etc but i've been garbage at tracking them within the last year

I used to have a spreadsheet with dates/bonuses etc but that seems to have gone away

anyone have a public template I can borrow?

billy

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #186 on: August 12, 2021, 03:32:58 PM »
I don't have a template, but I use a free online service called travel freely

philli14

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #187 on: September 25, 2021, 09:37:08 AM »
Requesting help from some churners... Have churned multiple cards in the past, so not my first time churning, but running into a new situation that requires some planning.

Was just approved for US Bank Altitude Connect card. Requires 3k spend in first 120 days. I have some expenses coming up that would normally allow for it to be easily reached, however, I was only approved for $500 credit limit. My questions have more to do with how credit limit works..

1) If I pay $2500 towards the balance right now, will that effectively give me $3k in credit limit until it is used up? If so, any downsides to this?

2) If I can't do above, the next plan in my mind would be to use up the credit limit then immediately pay it off even before the statement has closed. I would hope that this would instantly restore the $500 limit, allowing me to continue spending within the same statement period? My plan in this case would be to charge $500 against a student loan (eat the service fee), rinse and repeat. Other options are to "pre-pay" for future spending in the form of grocery store gift cards, etc that I would expect to use over the coming months. I am not very experienced with manufactured spending but I anticipate either of these working for me.

3) If neither of the above work, I don't know how else I can achieve 3k in spend in 120 days. Any other thoughts/input would be greatly appreciated at this time!

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #188 on: September 25, 2021, 12:25:00 PM »
You can do both or either.  Some CC companies don't like the behavior.  Not sure if US Bank is one of those or not.

Another option is to call and ask them for either a temporary or permanent increase in CL.

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #189 on: October 20, 2021, 05:56:31 PM »
If anyone might be interested in a $200 bonus for a $500 spend, I posted here https://forum.mrmoneymustache.com/welcome-to-the-forum/referral-exchange-thread/msg2918308/#msg2918308 re: a Capital One SavorOne referral offer.

Tass

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #190 on: February 11, 2022, 12:44:29 PM »
I just tried to apply for the SavorOne with the above link, but got denied.

Last month I got denied for an AAdvantage card (Barclays + American Airlines) because I had opened too many accounts recently. I'm guessing today's will be the same reason. My credit score is between 749-807, depending on who you ask. Do I just need to chill out on applying for a while?

billy

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #191 on: February 11, 2022, 02:27:03 PM »
Well, every bank has different rules, you could do some googling to help increase your odd.

Catbert

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #192 on: February 12, 2022, 10:48:16 AM »
I just tried to apply for the SavorOne with the above link, but got denied.

Last month I got denied for an AAdvantage card (Barclays + American Airlines) because I had opened too many accounts recently. I'm guessing today's will be the same reason. My credit score is between 749-807, depending on who you ask. Do I just need to chill out on applying for a while?

Yep, sounds like you need to chill out for awhile.  How many have you applied for in say the last 6 months?  I try to keep myself and DH each around 5/24 which means it's 4 months or so between applications.  I've never been turned down for "too many accounts recently" although when I get my FICO and other credit scores that's always the reason my not quite "perfect" score.  (My FICO is firmly above 800.) 

BikeFanatic

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #193 on: February 13, 2022, 06:29:14 AM »
Philly that credit limit is so low I never heard of a 500 dollar limit! My experience with another card, Amex, I had a 1500 limit and had to spend 3k. So I spent in chunks, they allowed me over the limit, and paid the card 2x a month so I could spend more. So my guess is that it can work but I would call and ask for 1k because a big purchase you plan, tell them you are buying a refrigerator or something.

therethere

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #194 on: February 13, 2022, 08:47:05 AM »
I just tried to apply for the SavorOne with the above link, but got denied.

Last month I got denied for an AAdvantage card (Barclays + American Airlines) because I had opened too many accounts recently. I'm guessing today's will be the same reason. My credit score is between 749-807, depending on who you ask. Do I just need to chill out on applying for a while?

Yep, sounds like you need to chill out for awhile.  How many have you applied for in say the last 6 months?  I try to keep myself and DH each around 5/24 which means it's 4 months or so between applications.  I've never been turned down for "too many accounts recently" although when I get my FICO and other credit scores that's always the reason my not quite "perfect" score.  (My FICO is firmly above 800.)

My P2 has gotten denied for around 5-6 cards in the past year. It is super frustrating and I'm sort of lost as to why. It seems some creditors are denying if you have a high unused credit limit (Citi I know for sure) of 3x your income or something along that lines. We don't spend enough in a month to utilize even 1% of our CL, let alone higher to get approved. It really changes the advice of never closing no-fee cards.

Anyone have any recent experience with Chase Business cards? They used to be relatively easy to get as a sole prop. I haven't gotten any in a year or two, but I probably have 3 open in my name currently.  If I close them do I have a chance of getting them again? Thinking of finally cancelling my Chase Reserve due to the increased AF and no more access to Chase signup bonuses (if I can no longer get business cards).

Tass

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #195 on: February 13, 2022, 10:00:47 AM »
I just tried to apply for the SavorOne with the above link, but got denied.

Last month I got denied for an AAdvantage card (Barclays + American Airlines) because I had opened too many accounts recently. I'm guessing today's will be the same reason. My credit score is between 749-807, depending on who you ask. Do I just need to chill out on applying for a while?

Yep, sounds like you need to chill out for awhile.  How many have you applied for in say the last 6 months?  I try to keep myself and DH each around 5/24 which means it's 4 months or so between applications.  I've never been turned down for "too many accounts recently" although when I get my FICO and other credit scores that's always the reason my not quite "perfect" score.  (My FICO is firmly above 800.)

More than I remembered until I looked it up to answer your question, honestly. 6 applications in the last 6 months, 4 successful (3-5 months ago) and 2 denied (0-1 month ago). My official letter says I was denied because of:

Quote
· Based on your credit report from one or more of the agencies on the back of this letter, there are too many active credit cards based on your loan history
· Based on your credit report from one or more of the agencies on the back of this letter, there are too many new revolving accounts
· Based on your credit report from one or more of the agencies on the back of this letter, there are too many revolving accounts

So I'll lay low or worry about bank bonuses instead for a few months!

DadJokes

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Re: Maximize Your Churning (Bank Account & Credit Card)
« Reply #196 on: February 14, 2022, 06:19:34 AM »
Truist is offering a $500 signup bonus that just requires two or more direct deposits that total $1,000 or more within 90 days. That's a huge bonus and should be pretty easy to obtain. You can't have had an open account with Suntrust or BB&T in the last year (the two banks that merged to form Truist). It looks like 17 states & DC are in their footprint and are eligible.

https://www.doctorofcredit.com/truist-500-checking-bonus-al-ar-ga-fl-in-ky-md-ms-nc-nj-oh-pa-sc-tn-tx-va-wv-or-dc/