This is an actual question for readers, so I’m hoping that you’ll take a few minutes to chime in on the topic. This short post was inspired by my yesterday’s interaction in the comments section:
I thought it would be a good idea to ask about your recent experiences with various banks. As I’ve mentioned in my comment, I don’t believe there is a universal pattern. That said, there are clear trends when it comes to ways banks handle their approval process. So, let’s see if I’m right on the money, so to speak.
There is no question that times are changing and we need to adapt. Banks are getting smarter and better at recognizing “churning” pattern when they see it. Chase has gotten tough when it comes to reconsideration calls, Amex has implemented one bonus/per lifetime rule. And the list goes on.
It doesn’t mean that the hobby is dead, not at all. Miles and points industry is constantly evolving and I believe the best thing we can do is adjust our expectations. I just signed up for a $200 credit card bonus, the lowest amount I’ve ever gone after. That said, free is free. It’s still a windfall no matter how you look at it.
Readers, how did your recent application spree go? Was it a success or a bust? Maybe we can establish a pattern.
P.S. Speaking of banks, credit cards etc, check out this “mother of all posts” on Doctor of Credit that lists the most useful articles dealing with intricacies of our little hobby. Definitely a keeper and something you should bookmark.
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