Churning (verb): When you apply for a credit card you’ve already had and earn the bonus again.
I was asked about my “churn schedule.” Again, this means re-applying for an identical card. Your credit history and relationships with banks can make this vary, but based on emails and my history:
- Citibank cards seem to be churnable 18 months after the original application.
- Chase cards have to be closed 2 years before getting another bonus on the same card.
- American Express cards need to be closed a year to get a bonus on the identical card.
- Bank of America can be much more churnable if you have a good history there. I’ve gotten a card, closed it after 6 months, and collected another bonus a month later. With my Hawaiian Airlines card, I actually forgot to close the original and still got another one within 9 months.
(I did the same thing with the Bank of Hawaii version of the Hawaiian Airlines card)
- Barclays can be easy. I had my US Airways card closed 3 months before applying again. I’ve seen people get the card, not even close it, and get a second one within 6 months.
Reminder: It’s a good rule-of-thumb to keep cards open at least 6 months. I close most of mine between the 6-month mark and the 1-year mark.
