This is the correct answer. It's called credit cycling and definitely raises red flags. If you have a longer or in-depth relationship with the bank, then credit cycling probably won't affect you.
I got that, but I'm already getting a good cashback on streaming on another card.
We signed up for a couple of streaming services when they had heavily-discounted rates (like $0.99-$1.99/month) during Christmas/New Year's. If we were to switch to using our AGR Mastercard for those services, perhaps we'd lose the discounted rate?
I was told recently by FNBO that I would have to reapply for the no fee card. Since I do not travel as much as I used to travel, I decided to cancel the premium card. I was told to wait a few days before applying for the no-fee card. I waited over a week and applied today. I unfroze my credit temporarily and I was approved within minutes with a credit limit slightly higher than my credit limit on my premium card.
I learned another lesson with FNBO the hard way earlier this year. I had the premium card already and wanted to get the 40k point bonus promotion.
Did you already have the basic and premium card prior to the migration from BOA to FBNO, or did you acquire one or both directly from FBNO?
I already had both the premium and basic card with BofA which converted to FNBO. For other reasons, I am not going to risk cancelling my current card to try again for the premium, for fear that for some technicality I'll be aced out.
Second all that. Their Customer Service all seem to make a genuine effort to help in finding solutions and are "Midwest Nice" in the bargain. BoA agents all seemed just stuck on their scripts. I have the strong feeling that FNBO empowers their agents more than BoA.
"World Card" is a Master Card designation; it has no impact on AGR benefits.
Yes, easy. They only require a minimum of 24 hours after cancelling, but suggest waiting two days. I just did this this week. I cancelled my base card to upgrade to the premier card. FNBO does not allow one to two two of similarly branded cards at one time.
I'm not concerned about that. My credit is strong enough and I am unlikely to need new credit for some time.
Got two weird denials from FNBO. First was for a family member who had the card two years ago and cancelled a year ago. Initially it was instantly approved. Then strangely got a letter a week later saying it was denied because there were “elements associated with fraud”? Googling that with fnbo did not bring up much except one person who said it was due to an outdated web browser. I think they had used an older browser running on Windows 8.1 for that application. So perhaps that triggered it.
