The question of the day seems to be:
I applied for a Chase card in December and February and really want the 100,000 miles from the British airways card. Can I apply for this and expect success?
Here is an email I just got:
Thanks again for your help!
This proves that the Chase six-month rule is bunk. I knew it was, as I got five cards in six months from Chase. But here is the same result from another reader. You need high scores and few inquiries and the ability to lower the limits on your existing cards with the same card issuer, or be willing to close an older account. Your Mileage May Vary, but don’t believe that six-month rule line you get on the phone sometimes.
Every inquiry costs your credit score two to five points. That’s the amount you’re risking. If you are denied for a card, it does not go on your report as a negative factor. There is no drop in your score for a credit card denial.
This offer is large enough that if you aren’t sure of the outcome, it may still be worth the try, particularly if you have another Chase credit card you can cancel to earn the approval. Don’t cancel anything before applying. Wait until you get the denial if you do and then call the reconsideration phone number.
Reader emails are really providing valuable information to you, the readers. Several days ago we heard an example of a Premier Rewards credit card producing another sign-up bonus in the short term. Last month another reader email indicated that a Platinum Card from American Express, closed at least two years, could be applied for again and the new application would produce the points. I personally verified that one with my account at two years and three days since I closed my first Platinum Card.
This British Airways card has plenty of positives as a long term card for many people. It can be a terrific compliment to those carrying the Starwood Preferred Guest American Express credit card where Amex is not accepted.
1.25 miles per dollar spent
$30,000 spend to earn a free companion pass
No foreign transaction fees
I wish I hadn’t closed mine this year. Although I am not a fan of the fuel surcharges that British Airways charges on awards using their own metal to Europe, there are plenty of other options for using the miles with OneWorld partners. I also wish the companion pass provision was good on all OneWorld partners, but that is way too much to expect.
BTW: The 100,000 frequent flier mile offer is scheduled to last until May 6th.
Chase Sapphire Preferred® Card
- Annual Fee: $95 fee waived for the first year
- Foreign Fees: No
- Card Type: Bank
The Sapphire Preferred offers 2x points on dining and travel, and no foreign transaction fees, making this the go-to card for travelers.
This card accumulates Ultimate Rewards points, which are very valuable for transfer to United and Hyatt. Overall, this card is a great choice for maximizing earnings on dining, travel, and every day spend.
- Earn 40,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That's $500 in travel when you redeem through Chase Ultimate RewardsSM
- Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening.
- 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases
- No foreign transaction fees, plus Chip and Signature enabled for international travel.
- 1:1 point transfer to leading frequent travel programs at full value — that means 1,000 Ultimate Rewards points equal 1,000 partner miles/points.
- 24/7 direct access to dedicated customer service specialists
- Introductory Annual Fee of $0 the first year, then $95