Credit card success: two applications, 180,000 points!

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Instant approvals for the two most popular credit card offers right now (one of which expires in a few days)? We should probably buy lottery tickets!

Ford Credit Card Status

I manage the credit cards and points situation for my whole family because it seems easier for everyone. If someone has to decide whether to keep a card or cancel it, or need to redeem miles, I’ll take care of that. Over the weekend, I looked at Ford’s credit card situation and noticed something that would cause many in the miles and points community to grab their pearls.

With Chase’s 5/24 rule, you are generally not eligible for a Chase credit card if you have opened five or more new personal card accounts in the past 24 months. I was curious about where Ford was on this, so I looked it up with Credit Karma. Well, on the 5/24 scale Ford was at 0/24 which means he hadn’t opened any personal cards in the past 24 months.

Suffice to say that this had to change. Now, before you think I haven’t bought him new cards in the past two years, I must point out that he got five new cards, but they’re all business cards (which usually have the advantage of not counting towards the 5/24 limit). More specifically, he had applied for:

So yes, I only slightly failed it, I would say …

This morning’s credit card applications

The best credit card bonus right now is on the Chase Sapphire Preferred® (review) card, which offers an incredible 100,000 point welcome bonus. This card has reasonable annual fees and awesome perks, so the card is worth having.

Ford is fortunate to be eligible for this bonus:

  • He used to have the Chase Sapphire Reserve® (evaluation), which he had for over four years, but some time ago he decided to downgrade it to the Chase Freedom Unlimited® (evaluation), because he wanted a new Chase card for daily expenses.
  • Since he does not currently have Sapphire Reserve or Sapphire Preferred and has not received a new membership bonus on either card in the past 48 months, he was eligible for Sapphire Preferred.
  • He was instantly approved for the card which is pretty awesome as it’s not often that I get instant approvals from Chase

With instant approval from Sapphire Preferred, we figured we would apply for another card for it.

The Citi Premier® Card (revue) also offers its best bonus of 80,000 points. It’s also a fantastic mid-range card that offers great benefits.

Just like with the Chase Sapphire Preferred, Ford was also eligible for this bonus:

  • Ford has opened the Citi Prestige, but has not received a new cardholder bonus on this card in the past 24 months
  • He’s never had a Citi Premier before
  • It was also immediately approved for the card

And for those wondering, Ford is my husband, and John is his legal first name (that’s why that’s the name on the apps – his middle name is Ford).

I think we’ll take it slow from here

On the one hand, I’m tempted to ask Ford to pick up a few more cards right now. For example, there are great bonuses on Delta Amex cards, Marriott Amex & Chase cards, Avios cards, etc. But personally, I have long thought that slow and steady wins the race:

  • We can now work on achieving the minimum spend on these cards over the next few months.
  • Ford is still in a good position for future credit card eligibility as it now has two new personal cards in the past 24 months, so it can get three more before it hits the 5/24 limit.
  • While there are some limited time offers that might be worth taking advantage of, I think getting the bonuses on these two cards right now is pretty awesome.

At the end of the line

As far as I’m concerned, the two most popular personal credit card offers right now are on the the Chase Sapphire Preferred and Citi Premier. When I saw that Ford hadn’t opened a single new personal card in the past 24 months and was eligible for those cards, I knew it was time to apply.

Fortunately, he got instant approvals on both cards, and he will now be richer by 100,000 Chase Ultimate Rewards points and 80,000 Citi ThankYou points. On top of that, he’s ‘only’ 2/24, which means he can still apply for a few more cards before he hits Chase’s limit for personal card approvals. I’m a little jealous …

Has anyone else purchased the Chase Sapphire Preferred and the Citi Premier during the current offerings? In place of Ford, would you take another card?


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