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My First Double Dip

March 15th, 2012 at 07:28 am

It's clear from some of the other blogs that focus on credit card rewards, that many people apply for the same cards over and over and over.

I don't think it is anything we have ever done. I don't think either of us has ever had the same credit card twice.

Anyway, with the refi done, I closed my last one-time credit card from last year. & so we begin anew. {I honestly don't think any of this would have affected our credit score in a way to hamper the refinance, but we did want to just be on the super safe side. A lower interest rate on our only debt was a FAR higher priority than these rewards!}.

I had three cards on my peripheral, and they would all have to be applied by dh. So, I think we will stay on a "one at a time" plan.

Our health insurance is about $800/month, so it is very easy to meet these minimums, with little effort or purchasing. We just put it on the credit cards.

The three cards?

1 - When I closed my AmEx Gold Premier, I noticed they were advertising $250 rewards to the general public. Dh had not had this card.

2 - I recently noticed Chase Sapphire had a decent reward (it was long enough ago I don't remember the details). Dh had not had this card.

3 - Citi still LOVES dh and sent him a direct mail offer for a card he just opened and closed recently. Citi Thank You. Spend $2,000, get $250. No annual fee.

So I started with #3. The offer would no doubt expire at some point, AND I expected him to maybe be rejected once he applied, anyway. Finally, amazon gift cards are the primary award we redeemed with this one. So, I think that is the best reward anyway.

I applied online today, and he was instantly approved.

They *really* want his business. They offered him all sorts of rewards to keep his account open "a little while longer" last time. So if we go through the same thing again, the reward potential is higher. On the flip side, there is absolutely no motivation for us to keep this credit card, beyond the one-time rewards. So apparently they want to keep trying, but I don't feel very enticed. Wink

4 Responses to “My First Double Dip”

  1. creditcardfree Says:

    Wow! I'm a bit surprised about the idea of double dipping. Kind of strange from the business side of it. I guess some of us are worth it!!

  2. ceejay74 Says:

    I'm wondering how many times you could exploit the Chase Freedom $200 back for $500 thing. Imagine, we had to spend $2500 to get $500 of Amazon cards with Citi. If you opened and closed Chase Freedom 5 times, you could get $1000 cash for spending the exact same amount!

    I just had AS apply for the Chase Freedom, because she doesn't have one. (She was approved instantly.) That's my and NT's mainstay card, so I don't think we could get approved for it. But maybe AS could do it again, a few months down the line...

  3. momcents Says:

    We just took advantage of the American Express Gold Premier, and I kid you not that the actual card and welcome kit was at our door step THE NEXT DAY (within 36 hours). It was spend $1000 in the first three months and get the $250. We'll definitely cancel before the $75 annual fee next year (waived for first year).

  4. Looking Forward Says:

    You go MM! Big Grin

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