Credit Cards

Jerry's Mega Thread of Credit Cards Q&A

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Jul 26, 2012
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can you just make a purchase then get the free points/credit and then use the points to book a vacation and then just cancel the card to avoid the annual fee?
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taeyang987 wrote: can you just make a purchase then get the free points/credit and then use the points to book a vacation and then just cancel the card to avoid the annual fee?
That's pretty much what we "churners" do, apply, spend enough to earn the points, cancel before renewal fee hits. Wait 6+ months, repeat
Which Credit Cards to sign up? >> Jerry's Mega Thread of Credit Cards Q&A
Newbie
Aug 13, 2007
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If I do a product change from TD gold elite to first class infinite, would I still be eligible for the 40K points?
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Sep 6, 2009
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the_martian wrote: If I do a product change from TD gold elite to first class infinite, would I still be eligible for the 40K points?
I just called them and they said no, it requires new application and have to go through the affiliate link to apply online.
Sr. Member
Aug 12, 2010
654 posts
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Ottawa, Ontario
So . . to get on the bandwagon . . I applied for the AMEX Gold Rewards and my partner applied for the AMEX Platinum Air Miles. Both applications accepted right away.
In approx 4-6 months we will refer each other and then cancel.

What kind of hit would I take if I also applied today for a TD Aeroplan VISA Infinite today? Or should I wait?

Thanks
Thanks to all at RedFlagDeals for all the great deals obtained.
Sr. Member
Mar 14, 2015
833 posts
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Edmonton
OH MAN. So AMEX card finally appears on my Equifax file... and my score went from 848 to 777, almost a hundred point drop wth happened? That's pretty ridiculous, when I had a hard hit from BMO it went form 854 to 848 only...
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Dec 11, 2012
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starwatcher wrote: So . . to get on the bandwagon . . I applied for the AMEX Gold Rewards and my partner applied for the AMEX Platinum Air Miles. Both applications accepted right away.
In approx 4-6 months we will refer each other and then cancel.

What kind of hit would I take if I also applied today for a TD Aeroplan VISA Infinite today? Or should I wait?

Thanks
IMO better to go app-o-rama & do it all now. the credit hits one takes will be temporary & your score will jump right back up (& then some) in a few months provided your credit utilization is the same. the extra cc's will increase the cumulative amount of available credit you have thereby decreasing your debt to credit ratio.
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Oct 4, 2004
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FlyOverMyDoodle wrote: OH MAN. So AMEX card finally appears on my Equifax file... and my score went from 848 to 777, almost a hundred point drop wth happened? That's pretty ridiculous, when I had a hard hit from BMO it went form 854 to 848 only...
Yep. This is why you shouldn't really worry about your credit score. It means nothing at the end of the day unless you're thinking of applying for a mortgage or line of credit product in the very near future and even then, the number used isn't the Equifax credit score. I'm sure each bank has their own algorithm for determining a score and I'm sure your banking relationship plays a role as well. What's on the actual report is what matters- total credit, credit utilization, payment history, number of accounts.. not that arbitrary number that is based on this info but can vary depending on where you go. I think your drop has to do with the way a charge product works, it's not a revolving credit item, so the way it's reported is different. My score also dropped significantly (under 700!) after getting my AMEX but it hasn't mattered- still getting pre-approvals, still getting approved!
scotsum wrote: IMO better to go app-o-rama & do it all now. the credit hits one takes will be temporary & your score will jump right back up (& then some) in a few months provided your credit utilization is the same. the extra cc's will increase the cumulative amount of available credit you have thereby decreasing your debt to credit ratio.
No-one considers that average age of accounts is also important and each new account lowers your age of accounts. If you have relatively young credit or not much, just one or two can be quite dramatic. The credit hits are tiny, maybe a few points.. but when you see the real hit is when the new account actually shows up on the account. Unless you're really credit hungry or don't have much credit and a new account will significantly increase your total credit, that utilization number dropping won't matter much.
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Apr 5, 2009
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jerryhung wrote: Many of us received our 40K AMEX MR yesterday on the Business Gold card, so people may want to check also

40K Aeroplan for free, woo hoo!
What does that mean exactly? Is there a specific date when they apply those? I had 30,000 MR added immediately after going over $5000, but they say the other 10,000 will be added "within 10 weeks". Is that going to be exactly 10 weeks later or is there like a specific date on which they add extra 10,000 to many accounts at once? Kind of odd because all the other spending and referral bonuses get posted as soon as requirements are met.
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greenmoon wrote: What does that mean exactly? Is there a specific date when they apply those? I had 30,000 MR added immediately after going over $5000, but they say the other 10,000 will be added "within 10 weeks". Is that going to be exactly 10 weeks later or is there like a specific date on which they add extra 10,000 to many accounts at once? Kind of odd because all the other spending and referral bonuses get posted as soon as requirements are met.
With AMEX MR, all posting should've been next day, but recently Small Business Gold seemed to require the full 8-10 weeks wait, or they happen in batches which happened last night


Anyway, see this thread, some got the missing 10K AMEX MR as well after the initial 30K
amex-business-gold-card-30k-40k-amex-mr ... 573779/27/
Which Credit Cards to sign up? >> Jerry's Mega Thread of Credit Cards Q&A
Sr. Member
Aug 12, 2010
654 posts
241 upvotes
Ottawa, Ontario
I have the regular no fee AMEX airmiles credit card. Can I apply through GCR and get the Air Miles Platinum and I get the 2000 air miles or do I have to cancel the regular AMEX airmiles credit card first and wait 6 months? Or do I just call AMEX and upgrade to the platinum and get the FYF and the 2000 miles. (I originally had the platinum about 8 years ago, got the bonus at the time, but downgraded to the regular no fee one about 5 years ago.)

Issue: I believe the regular no fee AMEX airmiles credit card is my oldest credit card - so not sure if I should cancel it.
I do have the AMEX Gold Rewards card on the way to me (just applied and got accepted) - Not sure if my oldest credit card history transfers to this other AMEX card, allowing me to cancel my oldest CC.

Any guidance on these questions is very welcome.

Thanks,
Allan
Thanks to all at RedFlagDeals for all the great deals obtained.
Sr. Member
Apr 8, 2011
583 posts
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Calgary
starwatcher wrote: I have the regular no fee AMEX airmiles credit card. Can I apply through GCR and get the Air Miles Platinum and I get the 2000 air miles or do I have to cancel the regular AMEX airmiles credit card first and wait 6 months? Or do I just call AMEX and upgrade to the platinum and get the FYF and the 2000 miles. (I originally had the platinum about 8 years ago, got the bonus at the time, but downgraded to the regular no fee one about 5 years ago.)

Issue: I believe the regular no fee AMEX airmiles credit card is my oldest credit card - so not sure if I should cancel it.
I do have the AMEX Gold Rewards card on the way to me (just applied and got accepted) - Not sure if my oldest credit card history transfers to this other AMEX card, allowing me to cancel my oldest CC.

Any guidance on these questions is very welcome.

Thanks,
Allan
Thanks to the info provided by members here, you can do what I just did, except I did it in reverse. I self-referred myself to the no fee Air Miles card from the Platinum. 500 AM for the referral and 500 AM upon first use of the new card. After confirming my miles on statements were correct, I called to cancel my platinum. Amex gave me another 200 AM to rethink my decision, and that if I still decide to cancel, no problem! My annual fee for that is July, so I'll cancel after my 200 AM shows up. So you would get 2500 AM self referring, (rather than $30 + 2000 AM through GCR). 500 AM is worth more than the $30. Self referring is a breeze. Just follow the links on your Amex account online.

Amex will carry forward your account history to the new card.
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Oct 7, 2008
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A family member with good credit and an existing TD customer with a Visa, chequings etc.. had the VISA First Class card application initially denied due to "Insufficient ID". Does any one know what this means? They were requested to go in branch and present ID at which point they were told to submit another application there and then (another credit hit) if they still wanted the credit card as the TD employee alleged that the initial application was "gone". Is this just a random ID check? This individual has no issues successfully applying for a the TD Aeroplan Infinite recently. Just asking to see if something can be done to mitigate this in the future.
Sr. Member
Aug 12, 2010
654 posts
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Ottawa, Ontario
Did I do something silly?
I got the AMEX Gold and my partner got the AMEX Air Miles Platinum. We plan to refer each other in about 2 months. Then churn.
When he applied for the card, he added me as a supplementary on the AMEX Air Miles Platinum. Can he refer me even though I have a supplementary card on his account - and he still get the referral points and I get the new card 2000 air miles points?
(I already activated his, but did not activate the supplementary if that makes a difference)

Thanks for any info.
Thanks to all at RedFlagDeals for all the great deals obtained.
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Dec 7, 2011
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FlyOverMyDoodle wrote: my score went from 848 to 777, almost a hundred point drop wth happened?
Maybe they figured something out about your math skills. :-)
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Jun 29, 2007
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Newman26 wrote: I'm using my points and free gift certificate for a trip to Quebec and out east, saving me over $900 :)
Yeah, I think the Marriott card probably has the best sign up bonus, esp it's so simple to use unlike trying to find a flight using aeropesos or avios.

Don't forget if book 4 nights with pts, you can get the 5th night free.
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Sep 19, 2004
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starwatcher wrote: Did I do something silly?
I got the AMEX Gold and my partner got the AMEX Air Miles Platinum. We plan to refer each other in about 2 months. Then churn.
When he applied for the card, he added me as a supplementary on the AMEX Air Miles Platinum. Can he refer me even though I have a supplementary card on his account - and he still get the referral points and I get the new card 2000 air miles points?
(I already activated his, but did not activate the supplementary if that makes a difference)

Thanks for any info.
You should be fine, supplementary doesn't really count, so he should be able to refer you as a new Primary AMEX Air Miles Platinum cardholder (he gets 500 AM, you get 2000 after $500)
Which Credit Cards to sign up? >> Jerry's Mega Thread of Credit Cards Q&A
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Aug 4, 2003
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Just went through an apply-o-thon:
American Express® AIR MILES®* Platinum Credit Card: Approved
BMO World Elite MasterCard: Approved
Marriott Rewards® Visa® Card: Approved

Tried for TD First Class Visa Infinite too but the stupid online application says to apply in branch. Bah.
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Sep 19, 2004
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Thanks for tip from Flyertalk, OP updated

TD Aeroplan Visa Infinite: $60 (instead of $50) cashback via GCR (Cash Back Boost until Jun 30)
TD First Class Travel Visa Infinite: $60 via GCR (Cash Back Boost until Jun 30)
Which Credit Cards to sign up? >> Jerry's Mega Thread of Credit Cards Q&A

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