I just called CitiBank to close my Business and Personal accounts of the AAdvantage Platinum Select cards. Why would I want to do that when they gave me such lucrative bonuses? Mostly, because if I wait 18 months – I can get those bonuses again.

The only benefit I was really getting from the AAdvantage cards was the sign-up bonus (50K each, helping my wife and I get our British Airways first class tickets from Singapore to London this August) and the free checked luggage on American Airlines flights. However, since I also have the Barclay’s Red Aviator card that has a lower annual fee and gives me the same bonus, there is not need for the ancillary cards. I called, had a majority of the credit moved from the Personal card to another account (you cannot do this with the Business account) and then shuttered the cards.

According to most reports, 18 months from now I will be able to apply for the same cards again and get the same bonuses (or whatever the offer is at that time). Check out this link and this link for more detailed information on all the banks.

Now I will just make a calendar reminder for a year and a half from now to sign up for the cards again.