Early 2021 Card Application Outcomes – Bold Moves Lead to Big Rewards
My wife and I were relatively quiet in obtaining new credit cards in 2020. We opted for more card product changes and upgrades, complementing our activity with a few new card applications throughout the year. Not coincidentally, we found ourselves with many ideas and even more flexibility for new cards in 2021. As always, we had a plan for 2021, but we knew the plan could change based on outside forces. And did it ever – I executed an impromptu App-O-Rama over the past weekend. Here’s our early 2021 card application outcomes and why we went after these specific ones.
Bank of America Amtrak Guest Rewards Platinum Mastercard
We got off to a late start on our Bank of America credit card application strategy, but my wife and I each picked up a new Amtrak card last month. With an easy $1k spend, a cardholder obtains 12k Amtrak points. We each had this card previously, but our accounts were unexpectedly closed due to inactivity a while back. It felt good to correct that oversight with the new accounts. We enjoy that we can obtain about 2.9 cents per point in redemption value without much effort. Even at the 1x earn rate on everyday spend, that easily outdoes the return on the majority of other rewards cards. Plus, simply holding the card enables a 5% discount on all award redemptions for Amtrak travel, essentially making the points worth more. After our long departure from Bank of America, we were each approved.
Outcome: Instant Approval x2
Bank of America Air France KLM World Elite Mastercard
This was the beginning of our wild App-O-Rama weekend. It’s also where we changed our previous plan, based on two dynamics. First, the BOA decreased their Virgin Mastercard offer; this had been next on our list. Second, BOA elevated their Air France card welcome offer to 50k miles and $150 cash back with 2k spend in the first 90 days of holding the card. I recall that the normal offer is only around 25k miles and no cash back.
While never at the top of my list, I had been considering this card for months. With some minor research, I found potential Flying Blue redemptions for domestic Delta flights at a solid value. Indeed, I look forward to going down this rabbit hole more soon. Also, I think this card just looks great. This card earning at 1.5x on all spend is solid, too. The $89 annual fee is softened by the 5k anniversary miles, as well. I was instantly approved for an account, as was the wife.
Outcome: Instant Approval x2
Barclays Wyndham Earner+ Visa Signature Card
Here’s another audible I subsequently called – applying rather than product changing to the Wyndham Earner+ card. Why apply? Because Barclays turned me down twice on my product change attempts from the legacy $69 annual fee Wyndham card, despite advertising this possibility previously without a deadline. I found the 4x points at supermarkets category and 10% award redemption rebate the most attractive features. My application quickly went pending when I submitted it. The reconsideration call didn’t go any better; they wouldn’t open the new card even if I moved credit from another one of my cards. According to the representative, I was denied because of too many new accounts in the last 24 months. I suspect I will be stuck with this status/reason with Barclays for the foreseeable future.
Outcome: Pending, Followed by Denial
Amex Business Gold Card
Getting back to the plan, our next application was for the Amex Business Gold. We were targeted for the 70k Membership Rewards offer with 10k spend in the first three months. The extra kiss was the 30k points via referral. While we preferred waiting on a similar offer for only $5k spend, we wanted to take advantage of the 30k referral and our current situation. We have a second year annual fee coming due on a Business Green card which we plan to close, and we wanted to lob in this application before closing that card. Amex, reliable as ever, approved the online application.
Outcome: Instant Approval
Amex Platinum Card Application Outcomes
We thought we were done after the Business Gold card approval. But in the process of obtaining the Business Gold card, seeing our Amex welcome offers, and reviewing records, the personal Amex Platinum card started calling me, then the wife. I noticed that I had the 100k plus 10x gas and supermarkets offer. I also observed I hadn’t held the “regular” personal Platinum card for a long period. Time flies! Besides, our Schwab Platinum cards have kept my wife and I occupied. This new offer only requires $5k spend in 6 months, which will be a snap. I was instantly approved. We noticed that my wife had the same offer and hadn’t held the regular Platinum for a long time, either. At this point, we had to push away from the keyboard and sleep on it.
The next day after overcoming the approval high from the previous night, we decided to pull the trigger. Why not? We felt good about the potential outcome based on my experience, and there’s no telling how much longer the ridiculous 100k + 10x offer would be around. My wife was approved. We love you, Amex – never change!
Outcome: Instant Approval x2
Card Application Outcomes – Conclusion
Mike Tyson once said:
“Everybody has a plan until they get punched in the mouth.”
We weren’t punched in the mouth, but we changed our card application plans based on, ahem, rather significant hobby developments. To do best in this hobby, I feel that one has to balance his or her established plans with the willingness to adapt to changing events. I’ve found this balance applies to other life aspects, as well. On the whole and over the long term, things tend to work out the way they should. Therefore, I’ll enjoy these wins as much as I try to learn from the lumps I take. How have your credit card applications gone recently?
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The app-o-rama says it’s not dead yet!
Business cards do not count against 5/24. They don’t show up on your credit.
Some do. Be sure to do research before you apply for a business card and think it won’t show up. I have a Capital One business card and it does show up on my credit, but my Chase business card does not.
App o-ramas are less successful than they used to be and require more examination since credit requests presently appear on a credit authority’s datase in near-continuous.
But can you get the Amex Plat bonus again since you held the card long ago?
Frank,
We shall see. I feel confident, though.
I got the Platinum for 100K and Bus. Gold for 90K. I am trying to get under 5/24, but the Bus. Plat. was too good an offer. The 100K is in my account and loving the 10% at Grocery Stores. The Bus. Gold was instantly approved. I have 8 Amex cards so I was surprised I got approved. 10K in 3 months is a bit of a task, but working on it now.
Byron,
Well done! Giving up on 5/24 is definitely liberating, but I can understand others’ reasons for focusing on Chase’s rule for their situations.