How Should I Come off a 24 Month Credit Application Fast?

I am coming off a 48 hour fast, and man is it rough. My stomach is all jacked up because I didn’t plan and follow a reintroduction to solid food protocol. I just went to town at the buffet after not eating for two days and that was a big mistake. I should have done some much better planning on my part.

Planning is also key for breaking our Churning fast. We decided that I would be the only one in the family to be always ineligible for 5/24 Chase Cards, and my wife would not get any new cards for 24 months. I am planning on hitting every new Card the day it comes out, and I won’t add my wife as an AU to bump her out of 5/24.

Here is where she stands right now:

  1. Chase Cards:
    1. Marriott Rewards Premier (Bonus 24 July 2015) Must pay $85 annual fee
    2. World of Hyatt (Bonus 03 Aug 2017) Must pay $75 fee
    3. British Airways Avios (Opened 08 Oct 2017) MLA Waived
    4. Ritz-Carlton Rewards (Bonus 10 Dec 2017) MLA Waived
  2. AmEx Cards (All Fee Waived):
    1. Amex EveryDay® Preferred (Opened 26 May 2015)
    2. Starwood Preferred Guest Personal (Opened 28 Sep 2017)
    3. Delta Platnum (Opened 17 Nov 2016)
    4. Hilton Honors Ascend Card (Opened as Surpass 28 Sept 2017)

When we look at her Credit Karma report today (18 April 2018) we see the last 5 cards as:

She should be below 5/24 at this schedule:

Card Age (In Mo) Drop Off Month
Chase 9 Jul-19
Chase 9 Jul-19
AmEx 7 Sep-19
Chase 6 Oct-19
Chase 4 Dec-19

In my previous posts I suggested product changing (PC) the AmEx Hilton Ascend (Previously Surpass) to The Hilton Aspire and then I suggested PC the Personal AmEx SPG to the new AmEx SPG Luxury Card in August 2018. I also suggested to PC the old Marriott Rewards Premier card to the new Marriott Rewards Premier Plus after 03 May 2018. This, I admit, is all pretty shitty advice, since I would be giving up the lucrative sign up bonus for all of these products! The reader comments made me realize my folly. Reader Tigris23 writes:

Just curious…why would you PC her SPG to the Lux but NOT apply for the Lux instead and get the potential new sign up bonus (which mostly likely Amex will do as the Lux is a new product)?

Then I realized I was doing a Charlie Day after taking brain pills here. Just because I have this blog with its 7-8 subscribers (tops), doesn’t mean I am any sort of expert here. You, the readers, actually have a lot better ideas and datapoints. I appreciate the constructive comments that you all share on each post and hope they continue.

The name of the game is to get the sign up bonus then double dip with the product change (after getting the initial bonus). Reader Dan writes about doing this for his Surpass (turned Ascend):

hey, just fyi   i was able to reopen a basic hilton card a week after closing it, once i realized i closed an opportunity for a second aspire.  it actually worked out perfectly, i just chatted with them online, they approved the reopen, sent me a new card, then after receiving it i chatted again and they upgraded to aspire  with original military benefits intact. so as of now i have 2 aspires and my wife has 1.     i read online somewhere that you might be able to reopen an account up to 30-60 days after closing it

On top of being a pretty marginal investor, I realize now that I am not the best product changer either. In this post I am asking the group:

“What should I do when my wife becomes eligible for 5/24 Chase Cards?”

I very boldly suggested this list of 5 Chase cards:

  1. CSR for the $300 travel credit
  2. United Club Card for Star Alliance Lounge Access
  3. Chase Freedom for the 5x Categories
  4. Marriott Plus Card for the free 35k night
  5. Southwest card for the companion fare

Reader Tigris suggests:

Personally if I have a clean slate, I would go for CSR (50k), CIP (100k), CIC (50k), Freedom/Freedom Unlimited (15k. depending on ur spending habit), & SW or Marriott.  That’s at least 227k UR pts after meeting spending requirements.

What makes this decision complicated is I want to take advantage of the 2 month delay in reporting of new AmEx cards to a credit bureau. Redditor Sir Theta says in this post:

Barclays reports by approximately the next business day.American Express reports on your second statement close. The remainder of the major US issuers (Bank of America, Chase, Citi, and US Bank, and Wells Fargo) report on your first statement close. edit: Wells Fargo reports soon after you are approved (a few business days). See u/payyoutuesday‘s comment below:

I was approved for a Wells Fargo Propel World card this month, and the new account was reported to the credit bureaus 5 days (TU, EQ) and 6 days (EX) later. I have not yet had a statement close.

On top of that, Chase sometimes allows two cards to be approved same day when you are 4/24, and Business AmEx cards don’t report to a credit bureau at all! If we want to truly utilize these loopholes we can have more cards if I wait till she hits 3/24 in July of 2019.

Starting that month she would Get the CSR and United card. When she drops back down to 4/24 again in September, she will hit up the Freedom. Come October 4/24 would be reached again and she can then get one of the Ink cards or the Marriott Plus card (then upgrading the existing Marriott to a plus). Then when she is 4/24 again in December she will hit the Southwest and the other Ink or Freedom card on the same day to cram in the last slot.

Month: Apply For:
Jul-19 CSR
Jul-19 United
Sep-19 Freedom
Oct-19 Ink or Marriott
Dec-19 Ink or Southwest & Other Freedom

Concurrently in November She can apply for the AmEx Hilton Aspire Card and the new SPG Lux card and they would not be reported till January. I think I am going to drop off the AmEx Everyday Card When these bonuses hit for the new card, she can now PC her existing SPG and Hilton cards to their highest levels. What she will be left with is this:

  1. Chase Cards:
    1. CSR (Open After July 2019) MLA Waived
    2. United Club Credit Card (Open After July 2019) MLA Waived
    3. Marriott Rewards Premier Plus (PC from regular Marriott) Must pay $95 annual fee
    4. Marriott Rewards Premier Plus (Open in October 2019) MLA Waived
    5. World of Hyatt (Keep open or close?) Must pay $75 fee
    6. British Airways Avios (Keep Forever?) MLA Waived
    7. Ritz-Carlton Rewards (Keep Forever?) MLA Waived
    8. Freedom (Open in September) Already Free
    9. Ink (Open with another card in December 2019) Not MLA Waived
    10. Southwest (Open with another card in December 2019)n MLA Waived
  2. AmEx Cards (All Fee Waived, (must drop ERP)):
    1. Starwood Preferred Guest Luxury (Open Dec 2019)
    2. Starwood Preferred Guest Luxury (PC from SPG)
    3. Delta Reserve (Open by closing existing Delta Platinum)
    4. Hilton Honors Aspire Card (Opened as Surpass then PC)
    5. Hilton Honors Ascend Card (Open Dec 2019)

Notice I didn’t open any AmEx Business cards because they would take up the precious credit card slots that are limited to only 5. I want to pack as many $450 annual fee credit cards in there. If this whole thing works out then we should get these perks paying dividends every year:

  1. Chase Cards:
    1. CSR: $300 Travel Credit
    2. United Club Credit Card: Star Alliance Lounge access
    3. Marriott Rewards Premier Plus: 35k award night for $95 annual fee
    4. Marriott Rewards Premier Plus: Free 35k award per MLA Waived
    5. World of Hyatt: $75 Cat 1-4 award night
    6. British Airways Avios: Keep points alive
    7. Ritz-Carlton Rewards: $100 flight Benefit, $300 Travel Credit
    8. Freedom: 5x categories to transfer UR
    9. Ink: (Not MLA Waived)
    10. Southwest: (Points Earning)
  2. AmEx Cards (All Fee Waived, (must drop ERP)):
    1. 2x Starwood Preferred Guest Luxury: $600 Marriott credits
    2. Delta Reserve: FIrst Class Companion Pass
    3. 2x Hilton Honors Aspire Card: $500 flight credit, $500 Hilton Credit

Any suggestions on my plan? Please comment below!


8 thoughts on “How Should I Come off a 24 Month Credit Application Fast?

  1. Dave says:

    I’ve done this with myself and my wife so far and it’s worked out great: wait for a United Explorer 70k offer and snag it, wait a year and a day and PC to the club. It maxes out the sign up bonus without burning a second 5/24 slot.

    • uiucderp2011 says:

      Good strategy, but they were offering 50k for the United Club Card this year. I hope that is around in the year 2019…..

    • JohnnyB says:

      Why not grab the MPE Biz and then upgrade to the United Club Biz?

      Obviously you’d have to be eligible for SCRA, meaning you open the card before going on AD, but if that was the situation that should work, right?

      • uiucderp2011 says:

        Yes I got my SCRA Personal MPE before I joined and upgraded to the Personal Club Card. I was not even aware of the business version of this product! Thanks for the tip, but keep in mind that Business Chase cards have not been getting the MLA waivers.

        • JohnnyB says:

          Ah I guess I communicated that poorly. I meant that as a general idea for someone who is still eligible to start SCRA benefits that isn’t already AD. That way it would open up another personal card slot.

          For those only taking advantage of MLA and whatever cards you had before joining that are eligible for SCRA, your looks good to me!

  2. bc says:

    Why not get the Chase Ink Business Preferred first, as it doesn’t count towards 5/24? So you can get that and get the Sapphire Reserve immediately after.

    • uiucderp2011 says:

      There are some reports that Chase Biz cards DO count towards 5/24. Any datapoints out there?

      • Mike says:

        My Ink Business Preferred does appear to count towards 5/24. Based on what I read online, I applied for a card last month, but was denied due to 5/24. I asked the Chase representative to list off all the accounts they based the decision on, and it included my Ink. As always, this appears to be YMMV.

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