My self imposed 2 year hiatus on applying for credit cards is finally over! I can’t tell you how great this feels. Thank god I had enough points to cover the trips I wanted to take. To recap, after Chase instituted it’s 5/24 policy which caused me to miss out on the 100k Chase Sapphire Reserve ICO (initial card offering) I was a bit demoralized. After that, I resolved to clear my inquiries and start fresh.
I’ve never been the apply for every card under the sun type of churner. I’ve always been pretty strategic. I plan trips about two years ahead of time and decide which cards I need to accomplish my goals. Despite my strategic planning I was way over 5/24 and it was starting to have an impact on my planning. So I made the hard choice to reset the clock, which reset 3/1. (well ok, technically the inquires won’t clear off until April 1 even though my last churn was 3/1/16).
Was this the right choice? I don’t know. I have certainly missed some good deals along the way, hello 100k Amex Plat. However, it is not necessarily a given I would have applied for those anyway if they did not meet my goals. So bottom line, no regrets and I am happy to be starting over.
What’s the plan moving forward? My wife is also back to zero so the plan is for us to alternate card applications. The plan is for each of us to apply for 2 – 3 cards per year, while always staying under 5/24. That is a paltry sum compared to the days when we were getting 12 per year but I really think the game has changed. With opportunities for MS dead and and card issuers cracking down I think slow and steady is the way for us moving forward. Plus, given that I have always been pretty strategic with my applications to begin with I think this new style will fit us well. Pigs get fat, hogs get slaughtered.
Time to start planning the 40th bday trip!