How Would you Time This

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MrMosby
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How Would you Time This

Postby MrMosby » Thu Apr 10, 2014 6:14 pm

Right now I have the BCP card, I've had it for 2 years, and recently got the SPG card in the last couple months...

I did have the Platinum card in the past, and I want to snag a platinum signup bonus - BUT if I don't by May 2nd I'll lose the ability to get one again. So my thought is, signup for the Platinum card hit the spend requirements for the 40K and cancel the card after the 3rd statement and roughly get a pro-rated refund on the annual fee of about $300. (Would this work, would I lose the points, etc).

Additionally I could snag another 15K on the AEP, but I already have the BCP which it becomes meaningless to have both, so I would probably apple for the AEP and spread the limit of the BCP across my SPG and AEP cards (and keep the AEP open for the 6x and 50% dividend). I'm not quite sure if I should wait 6 months or do this at the same time as the platinum app since I already have two Amex cards.

I also want to figure out my timeline to swap my SPG card for a Delta card so I can get some extra sky miles - all this combined with my existing points would get me enough sky miles for first class to my vacation destination ;-) (Hotel is already taken care of with other points).

Thoughts? Will it work - will Amex call me to the carpet on it?
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K


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djrez4
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Postby djrez4 » Thu Apr 10, 2014 7:38 pm

First thought: huh?

Second thought: Be careful. You may not be able to transfer the BCP limit to the SPG and AEP. As I understand it, both the donor and recipient cards have to be open for 13 months before Amex will let you transfer limits between cards.

Third thought: Why cancel the Platinum? It's worth $400 in airline credits alone, plus plenty of other valuable benefits.

Fourth thought: When do you plan on traveling? That kind of, sort of dictates the timing on the Delta card.
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MrMosby
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Postby MrMosby » Thu Apr 10, 2014 7:44 pm

August next year. The big things I'm up against is the May change to the signup bonus policy (which if I don't get the Plat by then I won't be eligible anymore), and the cash back on the BCP is less useful to me at the current point in time.

Why not keep it open? My Ritz-Carlton card has a lot of the same benefits for a lower AF. Granted the MR points on the Platinum are probably worth more.
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K

takeshi
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Postby takeshi » Fri Apr 11, 2014 8:26 am

MrMosby wrote:Would this work, would I lose the points, etc.

If you don't have another MR card when you close it you'll lose the points. Make sure you transfer the points before you close it if you don't have another MR card.



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