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Chase 30 day turnaround on closures and openings
I was talking with a buddy who was asking me about what he should do with a couple cards he has. He carries a United MileagePlus Explorer and a Hyatt card, and he was interested in maybe getting a Preferred or Reserve. I thought that was a great idea and also told him about Chase’s 24 month bonus rule and how the MPE was offering 70k and he should check to see if he was targeted. Could be an easy pick up for him. I told him that if he were to cancel his United MileagePlus Explorer, transfer the line to another card, he could apply for it again for the 70k bonus. For some reason I had 30 days in my head that he should wait. I couldn’t remember the details, but I thought Chase had some 30 day turnaround on closures and openings so I looked online.
*if you’re unfamiliar…Chase will let you get a signup bonus every 24 months ( you just can’t hold the card you’re reapplying for)
Sure, enough I was reading AccountingYourPoints…and saw where DOC wrote about this.
Looks like there is reason to believe that Chase will reopen your closed account if you reapply for the same card within 30 days of closing it. Seems prudent to wait the month out…then churn.
DW, at AYP, was still able to cancel his card, reapply, and get approved just 12 days later. HAHA! Love it! Every rule isn’t steadfast, and I’m happy he got it to work. I’ll have to hit him up about whether he’s happy about getting the 2 free nights, or if he’ll try and get the 40k bonus offer instead.