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Hi all, new poster here! Been following the site for a while and been able to take advantage of some great offers thanks to the knowledgable people here, I was hoping to get some perspectives on my plan and see if I’m going about this the wrong way.
I’ve currently got the free BA Amex (10k sign up bonus banked) alongside the Barclaycard Avios Plus (on the way to 100k sign up bonus with Barclays Premier). I’ve been debating closing the Amex in order to start the 24 month clock and hopefully bag a new sign up bonus but I’ve been having second thoughts about doing this.
Some of my day to day spending is run through a discount gift card site through my work, which sadly doesn’t accept Amex, so long term I’ll need to keep a non-Amex card around, likely one of the Barclaycards, so it’d make sense to put all spending through that card and just churn the Amex. However, I got significantly higher credit limit on the Amex (10k) than any of my other cards and I’ve increasingly been making use of the Amex retailer offers. I’ve also been pondering changing over to BAPP if my spending pattern changes, and having seen a few articles pointing out that sign-up bonuses are unknown and that Amex may not accept you back, is it still definitely a bad idea to keep hold of the BA Amex for the time being even if it potentially loses me a sign up bonus?
You can still get the bonus on Amex Platinum despite having the free BA card (this is your ONLY option) so bear that in mind.
The cashback offers do make a difference and could, I admit, be more valuable than cancelling and having a fallow period.
One option would be to go Platinum, then trade down post bonus to the free Amex Rewards Credit Card. Cancel the BA card and start the 2-year clock to when you could get a 26,000 Avios (higher in a promo) bonus on BA Premium Plus.
The cashback offers do make a difference and could, I admit, be more valuable than cancelling and having a fallow period.
By my calculation — and yours will be different — there’s no point being a two year hold out on Amex as the benefit from cashback offers is too large. But you can get most of the offers on a cheap card like the Nectar or Marriott cards, and that’s still not going to block a later bonus on an Avios or MR card in a few years time.
A number of issues here. First, you need a non amex for work scheme. I guess you want rewards so first choice would be one of Barcs BA cards and second choice one of Virgin cards depending on whether you want to pay a fee or not. However, remember you can bank the bonus on paid Barcs card then downgrade to the free card. A third choice would be Sainsburt’s Nectar card but only if you shop there because earn rate is rjbbish elsewhere.
Second issue, you want to protect your amex limit but third issue is you are torn by desire for more amex sign up bonuses. These issues are not exclusive, you can do both! You call or chat online with amex and tell them BA card is no longer suitable for your needs as you are not flying much with BA anymore, therefore could you please switch to another amex card. This protects your credit limit (but a family or friend misses out on bonus for referring you). To maximise future sign up bonuses after 24 months you need to switch to either Nectar or Bonvoy, no other cards. If you do this you will be eligible for the better bonuses on BAPP and Platinum in two years. You can downgrade both of these after banking the bonus for a pro-rata refund on fees. Nectar car is free in first year and £24 in second year. Points can be used in Sainsbury’s or transferred to BA. Bonvoy is about £70 atm IIRC and is not free in first year.
Fourth issue is what should you do. I’ve never been a fan of the 24 months strategy and agree with @memesweeper. You miss out on offers, and referral bonuses which make the cards worth holding. You could also miss out entirely if amex then changed rules on SUB during the next 24 months. The strategy I set out on the previous paragraph allows you hedge and get best of both. However, note that if you opt for Bonvoy card you will get none of the valuable hotel offers except for Marriott. If you opt fof Nectar, you will not get the Morrisons offer should it come back. You can hold both if you are happy to pay the fees.
There is a further wrinkle to churn, and that is the rotate.
On a personal level (ie non business) I typically rotate BA, Plat, Barclays as does player two. We only have one at a time with the other having a supplement card. Within a 24mth period that gives us six welcome bonuses to be working towards (more if you can do multiple Barclays at 6mths).
Invariably there may be a fallow period within this, but without manufacturing spend, it is a few months before we start again.
There are other combinations that will allow more cards to be rotated but it isn’t 24mths not earning bonuses, it is 24mths not earning a particular bonus.
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