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Amex retention points and deciding on a second card

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  • ashcal

    Hello everyone. I discovered this site a few hours ago and it’s been very interesting to learn more about credit cards. I have a business gold Amex card (just got renewed for a second year), but I am planning to cancel it and sign up for the personal gold Amex so I can get 32k points. I was told by Amex to do this before cancelling my business card so I can transfer my points over. However, I have learned that Amex offers a retention bonus to those that want to cancel their card. If I cancel the business card after obtaining a personal Amex gold card, would they still offer me a retention bonus?

    I also have a second question, I’d like a second card for when Amex isn’t accepted. Can’t decide between the Avios Barclaycard plus and Virgin Atlantic reward+. As I usually travel solo, the biggest bonus to me is the upgrade voucher which I would use to upgrade from premium to business. I like to travel to NYC once a year and Europe once or twice a year, and although I prefer Virgin, BA flies to more places. However as BA doesn’t show points->flight value when searching for a flight, it’s hard to know which airline would give me more for my money. It’s also worth saying that don’t travel for business and don’t plan to spend over £30k per year on credit cards. Any advice would be much appreciated. I don’t want to screw this up!

    Carlos

    In theory if you are one entity (or they can record you as such) in MR records across Business and Non Business. Best to call them and find out first

    Then getting the new card card and assuming you meet the requirement to get the sign up bonus works

    Then get a retention for the business if given

    Then you can cancel the next day. Great strategy

    Go for Virgin. Much easier to view and book places

    • This reply was modified 3 days, 15 hours ago by Carlos.
    SteveJ

    Are you self employed? Barclaycard are ridiculous in their credit acceptance. You can’t earn too little or have too much existing credit (fair enough), but you also can’t earn too much.

    Unless you hit a sweet spot of normal employment earning approx 60k a year (and defo not over 100k) and not too many existing cards you might as well forget about the Barclaycard.

    ashcal

    I am currently self-employed, but planning to go employed next month (currently interviewing for jobs). I expect to earn between 45-70k annually.

    ashcal

    Thanks Carlos that’s a great idea. Virgin does seem easier to book and cheaper to fly premium on transatlantic flights. It’s annoying that BA doesn’t allow you to see booking cost with points unless you have an account.

    Luca M

    Are you self employed? Barclaycard are ridiculous in their credit acceptance. You can’t earn too little or have too much existing credit (fair enough), but you also can’t earn too much.

    Unless you hit a sweet spot of normal employment earning approx 60k a year (and defo not over 100k) and not too many existing cards you might as well forget about the Barclaycard.

    They always change criteria over time… a lot has changed during covid though.. I have traditionally got around 1.5.-1.7 of my annual earning in total credit across my credit cards (excluding the Amex Chargecard), and Barclaycard used to be my 3rd larger limit at 25k, however during Covid, the simply reduced to 1/3 approximately without possibility to appeal (it was not used to be fair but also fantastic account history).

    trient

    Are you self employed? Barclaycard are ridiculous in their credit acceptance. You can’t earn too little or have too much existing credit (fair enough), but you also can’t earn too much.

    Unless you hit a sweet spot of normal employment earning approx 60k a year (and defo not over 100k) and not too many existing cards you might as well forget about the Barclaycard.

    That is not correct. Source: employed earning well over 100k, 6 credit cards with limits between 3-20k, Barclaycard approved with 20k limit after the dreaded “we will get back to you”.

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