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Doctor of Credit reported that Citi is broadening its 24-month rule to cover any card within a given brand. That means any American Airlines card opened or closed without 24 months will prevent collecting a sign-up bonus on another. Same for Hilton cards, ThankYou cards, and Expedia cards, respectively. Previously, each individual card could be had every 24 months. Further reporting from Doctor of Credit is that the Citi system changes for this will not take effect until August 28, 2016, despite application language already reflecting this.
This language specifies opening or closing a card within 24 months, so the common strategy of closing a card after the first year to avoid the annual fee will start a new 24-month clock. We do not have guidance from Citi on product conversion/downgrade rather than closure. FrequentMiler’s theory is that changing within a product brand such as ThankYou Premier to the no annual fee ThankYou Preferred might not trigger a new 24-month clock, while changes outside a brand may do so. That is a plausible theory that awaits more data to substantiate.
Personal and business cards are separate under this policy, so it is possible to get one each of American Airlines or ThankYou in 24-month period.
Don’t Forget 8/65:
Additionally, Citi does not approve multiple applications per day. The consensus data points of the ‘8-65 rule’ indicate you can get a card day 1, another day 8, next one day 65, and then another roughly every 30 days provided no more than 2 cards in a 65-day period. Further one only business card in any 90-day period. Under new rules this is less critical long-term, however may be critical in the short lead-up to August 28.
ThankYou: Citi could have been considerate to hold off a week. My prior Citi Prestige was approved 9/2/14, so will not be heading to the branch for another 50k bonus and $350 annual fee. My prior Premier was approved 8/17/15. My 3 Preferred are all 24+ months so can get one.
American Airlines: I got an AA Platinum Visa on 2/13/15. I closed my last AA Executive on 6/20/14 so can get one.
Hilton: I got a Hilton Visa Signature on 4/2/16. I have not opened or closed a Hilton Reserve in 3 years so can get one.
Expedia: I have never gotten an Expedia card.
Business cards: my prior AA business card was closed 10/18/13 and I have never had a ThankYou business card so can get both.
Like many I am holding off other applications until August 21 for the Chase Sapphire Reserve. I am way over 5/24. At least I can not have an application from a few days prior since both Chase and Citi pull my Experian report.
On August 21 I will apply for one Citi card after my Chase application. Which card should it be?
ThankYou: I am shut out of ThankYou other than lame offers for Preferred. I will focus on retention offers for this year’s jumble of annual fees and next year when I hit 24 months, go for a new Prestige or Premier.
American Airlines: I will go for a 60k AA Executive card, earn the bonus first month and cancel the card, getting the annual fee back. It will be nostalgic.
Hilton: the Reserve card doesn’t excite me. Weekend certs that expire inspire rationalizing a trip to feel like I am maximizing the value. I will wait until April 2018 to get another Hilton Visa Signature. I might have convinced myself if not waiting for Chase, since I could apply AA Exec today and have 8 days before the August 28 cutoff.
Expedia: pass. I don’t use Expedia and don’t want to have another program to learn. Maybe I am missing out.
Business cards: this exercise reminds me I am due for another AA business card. I will add one soon and start that 24-month clock. I will periodically drop by Citi branches to see if the ThankYou card has better bonuses than the current 20k. I won’t apply for less than 40k.
Retention offers: I will continue to aggressively chase retention offers at least twice a year. Here are my offers from February. I am due for another round. I have heard reports of crackdowns on retention offers and indeed, for my Premier that just had the annual fee billed the only offer the retention department (recently reopened) could locate was for a balance transfer. I am going to try back after 8/24 which would be 6 months and the end date from my longest outstanding retention offer, which is on my Prestige card. Maybe that will reset the clock. If not, will try in March 2017.
Readers, what is your Citi plan?