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I get a ton of churning questions via e-mail every week. I am more than happy to answer since I do tend to work through a few cards each year.
Some years, like last year with the 100,000 Capital One deal, I pushed it a bit and it did have an impact on my credit score in the short term and my ability to get more cards (I am not, over the next two years, going to buy a home or request an equity line). So, I thought today I would toss up a chart of my score for the past 18 months to get some perspective for those who have questions and for those who have never ever done a churn before. (do you know your score?)
Let’s start with 2011. As you can see, the offers were coming fast and furious and I pounced on them one after another after another. Then I just had to cool my heels and get back on the 3-4 months “normal” schedule. The impact of this, and the subsequent rebound, is much better as you can see from December and March of this year!
Another fun fact that you can see is I now hold more credit cards then I have for a long time and yet my score is at it’s highest level in almost two years! You can see the benefit of ALWAYS paying off your balance in FULL each month and ON TIME.
If you have never even though about a churn, please take the time to read my “ROOKIE” tab today and be sure to look at the 50,000 BA Avios Points VISA card, this could mean a ton of short haul trips on American Airlines. For my recent family reunion I flew my Dad up from Miami to Philadelphia for just 15,000 points plus $5.00 round trip!
And if you want some extra DELTA miles, in addition to the obvious Delta AMEX cards, consider the US BANK FlexPerks card as these points can be used to buy a Delta ticket to where ever you want and will earn both MQM’s and RDM’s for the trip!
BTW this past Thursday I went ahead and did my current churn and will have the results on Monday of what cards I went for and if I succeeded in keeping my 100% approval record going! And to make it fun, guess YES or NO if I was successful or not here in the comments section of the blog for a chance (it will be random so feel free to guess either way) to win some DELTA swag today!
Have a great weekend everyone – René