How long before I can re apply for Amex after cancelling my card?

BigLad_2

Hi,

I've been using Amex cashback card for a while, and I'm currently receiving 0.5%.

If I cancel my card does anybody know how long it is before I can reapply, so that I can take advantage of the 5% introductory rate again?

Thanks.

becominganobsessivesaver

I think I waited a year/18 months - but I don't know what the minimum is.

BigLad_2

Excellent - thanks.

The plan is to keep switching between the Amex and Cap1 for as long as they both offer the introductory 5% enticement.

Cheers

reclusive46

You could reapply straight away. There is no limit for Amex.

BigLad_2

Cheers - that's good to know.

In that case you wouldn't happen to know Cap1's policy too would you? :-)

izools

According to this

http://www.stoozing.com/cards.php

There's no minimum either.

Be cautious though, as accounts showing on your credit file as not having been open for long can lower your creditworthiness - credit card companies will state if your card is currently in a special offer period on your credit file and if you build up a track record of closing cards after special offer periods expire you may start to find your applications being declined.

Nevertheless, good luck!

allyjm

reclusive46 wrote: »

You could reapply straight away. There is no limit for Amex.

Like within a feW hours?

BigLad_2

izools wrote: »

According to this

http://www.stoozing.com/cards.php

There's no minimum either.

Be cautious though, as accounts showing on your credit file as not having been open for long can lower your creditworthiness - credit card companies will state if your card is currently in a special offer period on your credit file and if you build up a track record of closing cards after special offer periods expire you may start to find your applications being declined.

Nevertheless, good luck!

Good information - thank you kindly!

izools

allyjm wrote: »

Like within a feW hours?

No, but once the card reflects as settled on your credit files. This takes 6-8 weeks typically.

OllyM

izools wrote: »

Be cautious though, as accounts showing on your credit file as not having been open for long can lower your creditworthiness - credit card companies will state if your card is currently in a special offer period on your credit file and if you build up a track record of closing cards after special offer periods expire you may start to find your applications being declined.

Actually it indicates a balance at a promotional rate (usually 0%), not a special cashback rate.

izools

Promotional rate, yes, but I've seen companies use this marker for all sorts on mine and the OH's credit files.