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.
Citi ThankYou® Premier Card
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- Foreign Fees: No
- Card Type: Bank
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- Annual Fee: $95 (fee waived for the first 12 months)