How long after closing a CC to open a new one with same bank?

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4 posts
frugal
 
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Joined: Fri Jan 06, 2012 1:39 pm
Location: FL

How long after closing a CC to open a new one with same bank?

Postby frugal » Fri Jan 06, 2012 4:23 pm

Hello,

I have excellent credit and just closed one of 3 cards at Chase. Is there a recommended time to wait before signing up for a new card, or does it even matter in the eyes of the bank that you just closed a card and want to open a new one?

FYI: This card was one year old and came with a fee, and it will help me more to close it, than it will to leave it open, as it brought down the avg length of my credit history. I also moved all the CL from that card, besides the minimum required to an existing CC.

I know what I'm doing, just want to get some insight as to closing and then applying for a new card.


ooxs
Centurion Member
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Joined: Sat Aug 13, 2011 9:38 am
Location: Michigan

Postby ooxs » Fri Jan 06, 2012 11:54 pm

In the eyes of the bank, they offer a variety of cards to meet your needs and take advantage of your business. You’re always welcome to apply, however the bank can deny your application or refuse to offer you a sign up bonus because of your pattern of application.

But you know what you’re doing so keep us updated.

frugal
 
Posts: 2
Joined: Fri Jan 06, 2012 1:39 pm
Location: FL

Postby frugal » Thu Jan 12, 2012 9:07 pm

Well, after waiting a short period, I signed up and was approved for a new CC with the bank. What is odd, is they actually increased my total CL by $15k+. I already had a CL that was over 4 times that amount.

Normally I wait 10 months to a year or so and then cancel. If the card has no fee, I'll leave it open. I try to always stay at 4 cards or less with any bank. I'd rather move CL to another card or cards, close the "newest" card to preserve my credit history and increase age of accounts and then apply. I prefer to be at 3 cards or less, but 4 is my max. I've never had any major problems in the past and plan to rinse and repeat with other major banks in the future, as the deals continue to come.

I like to keep my information generic, just for paranoia sakes.
Here's to another CC that will get me more miles, points, cash or other freebies for little to know work or spending requirements.

Thanks for the reply and you wanted to know what happened, otherwise I would not of posted anything.

ooxs
Centurion Member
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Posts: 304
Joined: Sat Aug 13, 2011 9:38 am
Location: Michigan

Postby ooxs » Wed Jan 18, 2012 10:23 pm

You’re welcome, glad it is working out. I have been applying for the points too, i don't need any more credit but the points are tempting lol. I just applied for a united card with 60 000 mile bonus, probably won’t keep it but we shall see.

Thank you for the update :-)



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