I was wondering what is the best long term strategy to take advantage of the AMEX sign up bonuses.
I got an Explorer card (100k points bonus) and a few months later got one for my wife.
My plan was to cancel my card before the end of my first year and then 18 months later get into another card with a sign up bonus. However, if I cancel my card I would lose all my points and I can only transfer 25k points a year to my wife.
Is there any good way to get around this? I could use my current points before cancelling but I was planning in using them for something that requires a bit more points.
I’m not sure if taking advantage of the sign up bonuses and cancelling cards is frowned upon, but was wondering if there were any recommendations out there.
What I personally do is let my partner become the main Amex points holder, with me adding to it as a supp card holder. My Amex points would be transferred out to FF programs or hotel programs that is usually easier to keep from expiring.
I will have to wait 18 mths before being eligible for another sign up bonus. Not the best but as point hacking scene change, point hackers would have to adapt to the change accordingly.
Krisflyer and Asia Miles expire regardless of account activity 3 years after being earned. If you can’t use your miles in the foreseable 3 years, I wouldn’t transfer to these programs.
‘I’m not sure if taking advantage of the sign up bonuses and cancelling cards is frowned upon, but was wondering if there were any recommendations out there.’
Closing accounts and re-opening after the qualifying period is in my experience an acceptable practice. The card supplier is making money from your using their card.
Just always be aware that in Australia, applications for credit cards will have a negative impact on your credit rating so don’t overdo it.