I believe there is a limit of 100,000 transferred points per calendar year per account.
Ah, good to know and thanks for the clarification!
Signing up doesn't get you the points. You have to not only meet the spend requirement, but also get the card in the first place. I consider the ding to your credit just for applying, and, then, the ding when you cancel to be real costs. This isn't like opening checking accounts for OnePass miles. People shouldn't go trading their good credit willy-nilly.
If I recall correctly, 8000 points from another AGR account will cost you $80 just to do the transfers. Meanwhile, signing up for a Chase Sapphire Preferred card costs nothing (if cancelled within twelve months) and can net you 50,000 AGR points that can be transferred into any AGR account you want.
Did you really cut-out the part where I listed the minimum spend and conceded that this approach is not for everyone just so you could come along and bitch about it? Do you really think anybody is honestly confused by the idea that you have to be approved
for a credit card in order to receive it and earn points from it? Of all the hundreds of threads, blogs, and articles I've read about credit cards I've never once seen anyone who felt the need to explain that if you are declined no points will be forthcoming. Luckily the credit hit you take from applying for a new card is relatively small, just a few points in my experience, and is usually countered by having a higher total credit limit within a few months of even minimal activity. Yes, if you have no credit or bad credit and you decide to apply for a bunch of cards you have little if any hope of being approved for you probably are just making things worse. However, my advice is not intended to work for everyone, as I had already mentioned in my original post that you conveniently edited out.
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