AMEX Life Insurance - 20k pt Bonus

[SOPOOR]

Yes I will cancel all of my AMEX cards in November. I intend to wait out the 18 months and sign up again and get the new sign up bonuses. This is what credit card churning is about. You have to be ruthless if you want to maximise points. The benefits of signing up again far outweigh keeping these cards.

I too would like to do cancel all my cards however the 3ppd for edge and 2ppd for explorer is too irresistible.

Do you have alternatives?

 

[WeeWillyWonka]

Yes I will cancel all of my AMEX cards in November. I intend to wait out the 18 months and sign up again and get the new sign up bonuses. This is what credit card churning is about. You have to be ruthless if you want to maximise points. The benefits of signing up again far outweigh keeping these cards.

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I don't disagree with your strategy...in fact I applaud it. I just haven't heard of many AFFers churning them the way you do.

 

[blacksultan]

Only one set of bonus points available per card account .

 

[Dr Ralph]

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I don't disagree with your strategy...in fact I applaud it. I just haven't heard of many AFFers churning them the way you do.

I've always been a leader

But seriously you should take whatever strategy suits your own purpose. There's certainly not just one way of doing things.

I've had some great mentors on AFF.

 

[cmon0005]

Only one set of bonus points available per card account .

I thought ppl on here had experiences with getting two lots of points from two policies on one card??

 

[Dr Ralph]

I thought ppl on here had experiences with getting two lots of points from two policies on one card??

Not as I recall and I have fairly good memory. But feel free to check back through the previous posts.

I know I used 2 separate accounts to get 2 lots of points.

 

[blacksultan]

True that . What was commonly done was policies for same person charged to different card accounts .

 

[MikeeB]

Five policies over five primary accounts between the other half and I. All policies were for different people in my immediate family. 100,000 points landed this morning after charges went from pending to confirmed. Makes for a very happy point collector

 

[PDog]

I too would like to do cancel all my cards however the 3ppd for edge and 2ppd for explorer is too irresistible.

Do you have alternatives?

O/T so I'll be brief:
i am 3 months into my 18 month waiting period, after which I'll apply to get the sign on bonus points again. Meanwhile, I am busy reaching the minimum spend on new cards where I am less concerned about regular points per dollar. In addition, I have supp cards to my husband's 2 Amex cards. Will likely use him as the referrer when I'm eligible for a bonus again. (He isn't churning as he isn't working)
Hope that helps, YMMV!

 

[foggy]

Yes I will cancel all of my AMEX cards in November. I intend to wait out the 18 months and sign up again and get the new sign up bonuses. This is what credit card churning is about. You have to be ruthless if you want to maximise points. The benefits of signing up again far outweigh keeping these cards.

I don't see how this is a viable strategy now..given that amex has seem to fix the t&cs where as long as you have held 1 amex, you can't get any other signup bonuses for other amex cards, you are essentially forgoing 18months of spend for a 1 time bonus. Depending on which card you choose;

max would be the charge card at 100k pts for $1200 and the reserve card $400 travel credit.
Explorer gives you 100k pts but at gateway rates and $395 annual
edge gives you 10k pts free

So what was your plan to not hold amex for 18months and go for which card?

For me, I'd just eat up the retention pts bonus'
then refer my spouse for the charge first then edge/reserve
then cancel mine
then spouse refers me to plat charge first then edge/explorer after 18months
then retention bonus on hers
then cancel
repeat process until we are grey and old.

Our household will never be without plat edge/explorer though.

 

[Dr Ralph]

I don't see how this is a viable strategy now..given that amex has seem to fix the t&cs where as long as you have held 1 amex, you can't get any other signup bonuses for other amex cards, you are essentially forgoing 18months of spend for a 1 time bonus. Depending on which card you choose;

max would be the charge card at 100k pts for $1200 and the reserve card $400 travel credit.
Explorer gives you 100k pts but at gateway rates and $395 annual
edge gives you 10k pts free

So what was your plan to not hold amex for 18months and go for which card?

For me, I'd just eat up the retention pts bonus'
then refer my spouse for the charge first then edge/reserve
then cancel mine
then spouse refers me to plat charge first then edge/explorer after 18months
then retention bonus on hers
then cancel
repeat process until we are grey and old.

Our household will never be without plat edge/explorer though.

I am completely aware of the 18 month rule. There are plenty of other cards to churn through in those 18 months. As I have already said churning is not for everyone. My strategy yields high points very quickly. Loyalty is the worst way to earn quick or large numbers of points. Churn and burn!

 

[foggy]

I am completely aware of the 18 month rule. There are plenty of other cards to churn through in those 18 months. As I have already said churning is not for everyone. My strategy yields high points very quickly. Loyalty is the worst way to earn quick or large numbers of points. Churn and burn!

I don't see why you can't still hold onto an amex just with your partner's name while you are in your 18month waiting period..
Also I am aware of churning, and I still churn visa/mastercards but I have much more expenses going through the cards and need the best earn rate.

 

[Dr Ralph]

I don't see why you can't still hold onto an amex just with your partner's name while you are in your 18month waiting period..
Also I am aware of churning, and I still churn visa/mastercards but I have much more expenses going through the cards and need the best earn rate.

If you cant see it I can help you. Churning is about being ruthless. It's not for everyone. There can be no loyalty. Loyalty costs points.

 

[foggy]

If you cant see it I can help you. Churning is about being ruthless. It's not for everyone. There can be no loyalty. Loyalty costs points.

ok mate, when amex has more promos happening while you are on your 18 month sabbatical, have fun looking in. AMEX is the only card right now that is worth being loyal to. The insurance promo alone has netted me 80k pts. The credit statements from HN, Coles express, BP, shop small 2016x2, vogue night shopping.. enjoy your 18 months.
Also I haven't seen worth churn cards since the July change.

 

[Dr Ralph]

ok mate, when amex has more promos happening while you are on your 18 month sabbatical, have fun looking in. AMEX is the only card right now that is worth being loyal to. The insurance promo alone has netted me 80k pts. The credit statements from HN, Coles express, BP, shop small 2016x2, vogue night shopping.. enjoy your 18 months.
Also I haven't seen worth churn cards since the July change.

I can see that you don't get it and appear somewhat upset that not everyone does things your way.

Those new promos will be irrelevant to me. Ive already taken advantage of them with my 25 AMEX cards. Ive already taken advantage of those offers and wont need to do so again for 18 months. In short I'm more than set for the next 18 months of potential AMEX cash back offers with gift cards already in stock. I don't need any more and couldn't use any more of these offers. It's all about planning. Again, it's not for everyone.

I will not miss my AMEX cards, but I will enjoy the million more points I know I'll collect in other cards during that time and be ready to collect around 500,000 new AMEX points in 18 months time when I start again.

I learnt from some great churners on AFF. I've employed this strategy for the last 2 years and have generated millions of points.

Writing from a trip to the US which extends to 3 months and was 90% covered by award points, I wish you luck with your own strategy.

 

[SOPOOR]

Well to be honest I sort or get your reasoning.
It seems that you have heaps of gift cards stocked up as well as access to other and cards or even as a supp card .

Unfortunately for me I have to keep my edge and explorer as I have no alternative and I don't have the cash to stock up for 18 months of gift cards.

I too would love to be spending all my purchasing on minimum spend targets however I don't have a bullet proof credit file. So I've only churned two cards recently and can't see anything that has worth while sign up bonuses

I wish it we're different though.

 

[RoMambai]

I can see that you don't get it and appear somewhat upset that not everyone does things your way.

Those new promos will be irrelevant to me. Ive already taken advantage of them with my 25 AMEX cards. Ive already taken advantage of those offers and wont need to do so again for 18 months. In short I'm more than set for the next 18 months of potential AMEX cash back offers with gift cards already in stock. I don't need any more and couldn't use any more of these offers. It's all about planning. Again, it's not for everyone.

I will not miss my AMEX cards, but I will enjoy the million more points I know I'll collect in other cards during that time and be ready to collect around 500,000 new AMEX points in 18 months time when I start again.

I learnt from some great churners on AFF. I've employed this strategy for the last 2 years and have generated millions of points.

Writing from a trip to the US which extends to 3 months and was 90% covered by award points, I wish you luck with your own strategy.

Can I ask Dr Ralph. How will you net 500k in points when after your 18 month cooling off period with Amex you'll only be able to open 1 or possibly 2 Amex cards before you become ineligible again. Am I missing something?

 

[Dr Ralph]

Can I ask Dr Ralph. How will you net 500k in points when after your 18 month cooling off period with Amex you'll only be able to open 1 or possibly 2 Amex cards before you become ineligible again. Am I missing something?

It's not one or two AMEX cards you can hold. There are different types including charge cards + add in a DJ AMEX card and you're up to at least 3 AMEX. I currently have 5 separate accounts with AMEX and 4 supplementary cards for each. For a total of 25 AMEX. Suffice to say I very much like cash back deals and normally take full advantage of them.

This is now very much OT. I wont comment further about my AMEX experienes here or feed the troll who refuses to note that I have stated numerous times that 'there is not just one way to collect points'.

 

[foggy]

I can see that you don't get it and appear somewhat upset that not everyone does things your way.

Actually I am waiting for you to demonstrate your reasoning as to why you think it would be worthwhile not holding any amex cards in your household for 18 months for a one-card one time sign up bonus which you have not done. Your one liners of "if you can't see it then I can't help you" is the worse kind of demeanour on public internet forums. As you are just saying you are above me. Thanks, but I don't think you are.

 

[burmans]

Actually I am waiting for you to demonstrate your reasoning as to why you think it would be worthwhile not holding any amex cards in your household for 18 months for a one-card one time sign up bonus which you have not done. Your one liners of "if you can't see it then I can't help you" is the worse kind of demeanour on public internet forums. As you are just saying you are above me. Thanks, but I don't think you are.

Dr Ralph has been a quite prolific poster and by doing so has given out quite a lot of information already. Sorry, but he is under no compulsion to help you out further when he has already provided a lot of info. This maybe a forum for sharing info but there is no compulsion to share and everyone who posts provide their own time in doing so for free. So suggesting that he has a compulsion to answer your questions is in itself bad behaviour. Maybe you should spend a bit more time working it out yourself rather than demanding others give you the information on a plate.