When is it safe to cancel a credit card offering sign up bonus?


My partner and I have each a credit card offering sign up bonuses (amex and anz). We got the bonuses as we spent enough on the first 3 months. But now I want to move to another credit card offering a sign up bonus too, and close the old ones. When can I safely close those two first credit cards, without making amex and anz ask the bonus back? For the amex for instance, we did not even pass the 3 first months before we got the signup bonus unlocked.

Thanks a lot

Hi @audric

Speaking generally: once you have received the points, you can close the credit card. They’re not going to ask for the points back.

Speaking specifically: every credit card has its own set of Terms and Conditions. Ploughing through T&Cs is no-one’s idea of fun, but for the dedicated point hacker it’s a necessary skill. Carefully read the card’s T&C’s. Make sure you’ve met the conditions for getting the sign-up bonus. Carefully check that there’s no requirement for you to hold the card for a certain period of time. If you’ve met the conditions and have received the bonus, you can cancel the card after that.

Further to comments by @sixtyeight make sure the points are in the relavant FF account. For example if the AmEx and ANZ are Qantas cards, make sure the points are creditied to your QFF accounts. If the cards are Membership/Rewards cards just makre sure to transfer the reqrd points to your preferred FF program before closing the card.

Hi I was wondering when is it safe to close down to later on re-open after serving the waiting period of 12 months? Will it be too aggressive if I close it down within the first month? I always meet the spend criteria between my hubby and receive the sign up points within 6 weeks!!

There is no problem with closing the card immediately after you’ve received the sign-up bonus points, and then just waiting 12 months from that date (or whatever the t&c say) and then re-applying for the same card. Makes no difference to the approval process for cards.