HURRY! AMEX putting an end to churning.
American Express has placed a no-churn clause for their normal applications in Canada.
credit card
Sunday Reader Question: When should I keep a credit card past the first year?
There are many excellent credit cards out there for churning. However, sometimes it makes sense to keep a credit card past the first year and pay an annual fee. Rarely does this apply for cards simply because of their rewards program, but because of their warranty and insurance programs.
Sunday Reader Question: How many AMEX cards can I apply for in one day?
American Express offers some excellent churning cards, such as the 25,000 no-fee AMEX Gold Card [this is a referral], and the 60,000 AMEX Platinum card [this is a referral]. Many people will go on an “app-orama,” applying for a bunch of cards, including numerous AMEX cards, in a single day. There’s nothing wrong with this. Indeed, you can apply for as many AMEX cards you want in a single day, however, you won’t be instantly approved for all of them.
Good Deal: BMO World Elite – $300 Sign-up Bonus, First Year Free
Although this isn’t as great a deal as last time (which will probably never come back!), BMO is currently offering their World Elite Mastercard with a $300 travel credit and first year free (this is not a referral). You must apply by April 10, 2015 to be eligible for this promotion.
Anybody having glitches with MBNA?
Recently, MBNA changed their back-end computer system from the original Bank of America software to the TD software. That conversion brought a lot of glitches, especially with online access. However, over the past month, I've experienced a number of rather serious issues.
Sunday Reader Question: Difference between Charge Card and Credit Card?
The main difference between a charge card and a credit card is that a credit card does not have an established credit limit, whereas a credit card does. To decide whether or not a charge on the charge card will be approved, AMEX will automatically consider a number of factors for every charge, and make a decision on whether or not to approve it each time. In contrast, a credit card has an established limit, and once you exceed that limit, the creditor will decline the transaction (although creditors do sometimes allow you to exceed your credit limit, with a fine for going above your limit).
