Double dipping for sign up bonuses

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charged
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Double dipping for sign up bonuses

Postby charged » Fri Jun 24, 2016 11:08 pm

Yeah, so you guys know how some credit card companies give you a whopping $100-$150 cash back for spending a certain amount of money within the first three months of getting their credit card.

Let's say I get approved for the card, earn my bonus, then pay off the balance and cancel only to reapply again a few months later. Can I double dip and earn that sign up bonus again? :cool:

I believe I read that someone say that with American Express you only get one bonus per card per lifetime, but I don't know.


To My Credit
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Re: double dipping for sign up bonuses

Postby To My Credit » Fri Jun 24, 2016 11:18 pm

You can on certain cards, but there needs to be a 2-year gap between closing the account and applying for it again, I think. As for what cards allow it, I don't remember off the top of my head. I think Chase allows it.
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

charged
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Re: double dipping for sign up bonuses

Postby charged » Fri Jun 24, 2016 11:22 pm

To My Credit wrote:You can on certain cards, but there needs to be a 2-year gap between closing the account and applying for it again, I think. As for what cards allow it, I don't remember off the top of my head. I think Chase allows it.


That's still pretty cool. Does it matter if I have a different card with Chase because right now I have a Chase Slate but might want to apply for the Chase Freedom Unlimited which I never had before for that $150 bonus and the 1.5% cash back also. Chase Slate is nice but it doesn't give me anything to use lol.

Nixon
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Re: double dipping for sign up bonuses

Postby Nixon » Fri Jun 24, 2016 11:32 pm

Chase is 24mos (effectively 26mos if you meet spend after first statement cut)

They also have a pesky rule about too many credit cards in two year period (5 in 24mos)
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charged
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Re: double dipping for sign up bonuses

Postby charged » Sat Jun 25, 2016 12:04 pm

Nixon wrote:Chase is 24mos (effectively 26mos if you meet spend after first statement cut)

They also have a pesky rule about too many credit cards in two year period (5 in 24mos)


What if it's not the same card though? I have a chase slate now but want to apply for the Chase Freedom Unlimited and collect the sign up bonus. I never had that card before, I just have a history with Chase.

To My Credit
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Re: double dipping for sign up bonuses

Postby To My Credit » Sat Jun 25, 2016 12:13 pm

charged wrote:What if it's not the same card though? I have a chase slate now but want to apply for the Chase Freedom Unlimited and collect the sign up bonus. I never had that card before, I just have a history with Chase.
If it's a different card, you get the bonus, no problem.

But make sure you're aware of the 5/24 rule before you apply for any Chase cards.
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

augiedog
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Re: double dipping for sign up bonuses

Postby augiedog » Sun Jun 26, 2016 10:19 am

To My Credit wrote:
charged wrote:What if it's not the same card though? I have a chase slate now but want to apply for the Chase Freedom Unlimited and collect the sign up bonus. I never had that card before, I just have a history with Chase.
If it's a different card, you get the bonus, no problem.

But make sure you're aware of the 5/24 rule before you apply for any Chase cards.



For some reason they have approved me for several accounts over the years while breaking that rule. Not exactly hard and fast, but I haven't made an inquiry this year just in case. I've been looking over the Freedom Unlimited's (mostly for the welcome bonus, which is exactly the same as the normal Freedom's).

If they don't approve me, I would be willing to see if they'd approve me after reducing my credit line on my Slate.
American Express: Blue Cash Everyday (10k), Everyday, ; Discover It (7.3k) ; Target (2.1k)

Citi: Diamond (2k) ; Bank of America: Cash Rewards (2.6k) ; Capital One: Quicksilver (3k) , Sony ; Chase: Freedom (3.7k), Slate (3k), (Amazon) ; Barclay Ring ; Synchrony: Walmart MC, Amazon, Ebates

To My Credit
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Re: double dipping for sign up bonuses

Postby To My Credit » Sun Jun 26, 2016 11:35 am

augiedog wrote:For some reason they have approved me for several accounts over the years while breaking that rule.
I believe it's a new rule. Only been in place for the past month or so.
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

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CarefulBuilder14
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Re: double dipping for sign up bonuses

Postby CarefulBuilder14 » Sun Jun 26, 2016 11:44 am

To My Credit wrote:
augiedog wrote:For some reason they have approved me for several accounts over the years while breaking that rule.
I believe it's a new rule. Only been in place for the past month or so.

It's been in place for some cards for at least a year. It started with Freedom/CSP/maybe Slate...then expanded to Ink cards...and now seems to apply to at least some cobrands.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Tubpbs
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Re: Double dipping for sign up bonuses

Postby Tubpbs » Sun Jun 26, 2016 12:06 pm

What co-branded cards have you heard it was applied to? I would say you probably browse more places than I do, but I've only seen reports of approvals for co-branded cards despite the rule.

Let me know. Very curious.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It



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