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Not trying to lecture you, but perhaps it's time to think longer term about your credit history, instead of opening and closing accounts just to maximize those short term rewards.
It's not just about the credit score itself. Lenders look at the overall credit profile to determine your value. In OPs case, past behavior of opening 5 accounts within 24 months directly prevented getting the very rewarding CSR. So it's worthwhile to think a little longer term with these decisions.
^^ K1 has a very good point. It's not worth it. Get the bonuses for a few and stick with a strong one that fits you. I would wait until you qualify for CSR based on 5/24 rule.
Opening and closing accounts has very little effect on your credit score alone, especially if you're transferring the credit line when you close. I've opened at least 7 in the last 24 months and my credit score is 770+. Only reason it's not higher is undergrad debt.
Thanks everyone, I'll try going into a branch for CSR again. @a4 - im local and personal spending adds up fast in ny!
Venture, Barclays arrival plus
What's the 5/24 rule?
If you've had 5 credit lines open in the past 24 months, you cannot open a chase card.
I thought the 5/24 applies to 5 chase credit lines open not 5 credit lines overall...still agree with others...wait for CSR and for the love of god don't get the bonus and close it, too good of a card not to keep
Op, what do you use all those cards for if you pay most of your life through your corporate Amex?
That's a one-off situation. It won't affect car, student, or home loans. And I'm betting the benefits of the additional cards he received that put him over 5/24 surpass the benefits of that one card.
Plus I was over 5/24 and still got approved by going into a branch. Best of both worlds :)
CSR in branch, Amex biz plat 100k and/or Marriott biz 150k
Haven't had much luck with biz cards. You just say you're pre-revenue?