When is the best time to churn your cards ?

[ashleyn]

Assume you have taken out a card with the express purpose of getting bonus points, you have no intention of using or keeping the card. When is the optimum time to close it and stand the best chance of a fee refund ? Is it as soon as the points have been credited, just before the anniversary or some other time ? What are your experiences ?

 

[zainman]

My experience has been to cancel as soon as the points have banked. If they decide to waive the fees, great. If not, I won't cancel and maybe try another time... i.e, HUACA...

I don't know if they would be willing to refund the fees for the previous year just before the anniversary... and if you do keep it for as long as 11 months, that would sort of defeat the purpose of churning!

 

[puppysparkes]

After some research on here around 11 months. I tried churning a new card at 3 months and got a knock back 9 months ago. Seems I was shopping for credit which may have been a knock back factor. There's a great thread on AFF about Veda scores which helped me understand my credit file and the effect credit applications had. Take note of The Roks solid insight. I've a great credit score and want to keep it that way. Well worth a quick read.

 

[ashleyn]

After some research on here around 11 months. I tried churning a new card at 3 months and got a knock back 9 months ago. Seems I was shopping for credit which may have been a knock back factor. There's a great thread on AFF about Veda scores which helped me understand my credit file and the effect credit applications had. Take note of The Roks solid insight. I've great credit score and want to keep it that way. Well worth a quick read.

Do you have a link ?

 

[puppysparkes]

Do you have a link ?

I'm on my mobile and couldn't find the exact link with the returned search results. Using a desktop should do it. Search for 'Veda score' or credit check and look for The Roks avatar. I'll keep looking and post here if I find it.

 

[puppysparkes]

Here's the Veda link which gives similar info to The Rok http://www.veda.com.au/yourcreditandidentity/check/vedascore

 

[puppysparkes]

Here you go: http://www.australianfrequentflyer.com.au/community/showthread.php?t=49763