CREDIT CARD CHURNING

Is this a meme? Does anyone do this to take advantage of the cash back, travel rewards, and other perks?

I heard of students at my uni doing this and flying out to Asia during summer break. Is this an alpha or a beta thing to do be doing?

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I did it it works. I think if you keep doing it you will be fucked by some type of regulation though.

I used to swipe my credit cards to my paypal to avoid cash advance fees, then pull it out at the self checkout in walmart to earn cash back on the purchases instead of paying ATM fees. didn't make more than the money i was moving around but it definitely helped. Only did it a few months in one year started getting spooked due to other things I was doing.

I use my cashback obviously, but I dont think I've ever actually redeemed a single airmile in the 15~ years I've been using it

Fucking easy, OP. This is what I just did not more than a week ago:
Got the Bank of America Travel Rewards CC. If you spend $1K within 90 days of activating you get $250 back in travel rewards.
I bought a $1K visa gift card with my new card and plan to pay it off with my Trump Bux. So basically I just transferred my Trump Bux into a gift card and pocketed the travel points

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If by churning you mean 'applying for cards in order to get sign-up bonuses or other intro rewards' then yes of course it does. There are also bank accounts and investment accounts that do the same thing.

The problem with credit card churning is either you cancel the card after the rewards, which has a negative impact on your credit, and so eventually that strategy ends because you no longer get approved (in a vacuum) or you keep the cards.

Keeping many credit cards is great and really has no explicit downside itself as long as you avoid any with annual fees. Theoretically you can get 20 cards and make a few thousand off of the intro offer. The problem with keeping many cards though is you must use them occasionally or the credit company will cancel your card, and it's not just a matter of you calling them up, it's a matter of usage.

When they cancel your cards your credit drops. I set a schedule where every 6 months I make sure to charge all of my cards. Before I set up that system, I was lazy about it and had about 9 cards canceled, which of course had a negative effect on my credit.

I wouldn't recommend opening a credit card unless you intend to keep it long-term, even if you don't really ever intend to use it. Opening up a credit card for a few hundred bucks, that you don't intend to keep open, is shortsighted in my opinion.

TL;DR - it's a nice way to make extra money when building up a portfolio of credit cards, but don't open a credit card solely for that purpose.

I wanna grab her big tatas then smack her in the head with a club until her brains come out the fractures AHHHHHHHHHHHHHHHHHHH

>her

On top of this, be sure to add text alerts to your cards in case one of them gets stolen somehow you will know instead of it sitting like that for months.

But you don't have to pay any fees if you pay your credit on time. I understand messing up by getting cards that charge fees, but what if my card doesn't charge a fee? My current cc does not and I pay my credit on time. Please elaborate, this is very interesting.

Anything you do with credit cards is fine as long as you aren't building a balance. Pay it off every month, no exceptions. The thing that starts fucking people is when they try to take advantage of 0% APR offers. Yes, it can work for as long as credit cards offer these things. But one day they don't. Then you are absolutely fucked in the ass.

But if you don't carry a balance its fine. You can get free money signing up for different cards, and other stuff like bank accounts etc. But its a pain in the ass for minimum gain, plus your info is all out there with every company, and its easy to lose track of the 10 different accounts you opened and forget about one and it just piles up fees. I guess its worth it only if you're really poor.

>The problem with keeping many cards though is you must use them occasionally or the credit company will cancel your card
that's not true

It is true, however it depends on the credit card issuer. However, the time span is typically a year or longer. Most churners just do a 1 dollar amazon gift card reload if they do have cards they want to keep (some are worth keeping for the benefits, like hotel status, etc).

>I used to swipe my credit cards to my paypal to avoid cash advance fees, then pull it out at the self checkout in walmart to earn cash back on the purchases instead of paying ATM fees

This isn''t churning, this is manufactured spending. Way different.

all the best rewards cards have fees. but you can negate the effects in many ways.

OP, head over to r/churning, read the guides in the sidebar before asking any questions, they are less welcoming than Yas Forums.

I did quite well churning my Cap1 Venture card into a fuckload of ARPA, made 125%, sold 80%, paid it off.

It's a gamble, but I also got $750 in flight miles out of it. KEK.

American Express here. 6% back Chad

Over the past 3 years I’ve average about $780-950 in cash back. I pay a off each month ( a day before cut off date) and paid 0 interest. They do charge like a $75 annual fee

Plus so many perks and elite status levels for other services. I pay everyone with credit to avoid getting identity stolen and bank account drained. Once in a while I even Jew back AmEx with charge offs

It's a great way to get some free trips. It's especially worth the the time and effort if you'd otherwise can't afford to travel.

The big value comes in getting business or first class flights on points. For example, I did a first class flight on Cathay Pacific from Hong Kong to LAX. This flight has a cash price of about 10,000, but I just paid in points.

In the last 5 years, I've visited over 30 countries, and I have only paid in miles. The aquisiton of miles does come at a cost, but again, the the value potential is gigantic. Honestly collecting the miles and planning the trip is a hobby in of itself, and it really compliments my other hobby of traveling.

If you have any questions or want any tips on how to get to a certain place. Let me know. It's like my biggest time sink (beyond browsing biz of course).

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I've visited nearly 50 countries and they all fucking suck. It's all the same and nowhere has anything intrinsically different to offer unless your life is dogshit.

Also you're a faggot and I beg of you, go back to R*ddit.
>t. 2008 newfag

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Why did you visit so many if you don't seem to enjoy it?

yes but the golden years of churning ended around 2011. used to be you can open 6 credit cards and churn 20k on each resulting in a free trip to the maldives in less than 6 months. Flyertalk.com forums is/was the place for all the info.

work and the false belief that somewhere else is better

The one thing I realize after traveling a bunch, is that I do prefer where I live the most, and it does remind me of why USA is the best place to make a living overall. I don't go to other countries because I think they're better, but they are objectively different in culture, language, etc.

Do you think the fact that you were primarily traveling for working had an effect as to why you didn't enjoy your traveling?

no u

charge offs?

I do it, literally free money

if you are tied to work when you travel of course it's going to be fucking old.
but overall I agree that travel is overrated

what cards do you recommend? my amex gold is doing very little for me besides earning points for food and id like to transition to an amex with miles if you have a recommendation for that too

How the fuck do you get 6%

Correct, they do not close your card for non-usage. They close it because the beast has detected some change with your finances. Lose your job/income? CC companies know you can't pay for shit and will cancel or reduce your limits.

i use credit cards for the 0% balance transfer offers, which i use to buy bitcoin with of course

this thread is based. I do this except I buy precious metals to collect the bonus and get free metal

it's this card: americanexpress.com/us/credit-cards/card/blue-cash-preferred/

It has a $75 annual fee, so I don't fuck with it even though it would definitely make my money back. But its easier to just stick with my Chase Freedumb with a flat 1.5%

traveling only works at its peak if you can get laid
if you cannot get laid where you are dont bother going anywhere else
you are fugly and likely have a shit attitude

even SEA where you buy whores like candy will make you feeling/being worse off

but khazak (and a few russian states) is my favorite place for whores
and japan is the best place for almost everything you are looking for, food, scenery, living culture, safety, etcetcetc

last place i will go is antarctica
to die

AMEX Gold is actually a really good card. x4 dining is nice if you eat out a lot. I never do, but it also has x4 points in grocery.

The airline credit and the grubhub credit combined with the grocery earn rate makes it one that is worth the annual fee.

As far as what card you want it does depend on what your travel goals are. Or if you want to do cashback, etc. The AMEX ecosystem is pretty good; they have good travel partners overall, so if you want to stay in the AMEX ecosystem you should compliment the card with the AMEX Business Everyday card. it has x2 earning on all purchases and has no annual fee. So you can use that for most normal spend, and then for dining/grocery. If you want to get into manfucatured spending, you can make a lot of points (100k) a year by buying gift cards. It does cost the fees of course and you need a way to liquidated them, but the value is also pretty high by doing that.

If you want to get into the Chase point ecosystem, they have pretty good airline partners too like United (Star Alliance, you don't actually have to fly United), and South West, which is good for the US. Then you can get the Chase Sapphire Preferred and the Chase Ink Business Preferred. Those 2 are really nice. Again it does depend on what your goals are.

if true this is stupid as fuck, you can't buy bitcoin directly with a credit card, and if you get a cash advance they:

- start charging you interest the day of
- gotta pay more fees to transfer the balance

when you look at all of this together why would you not just buy stock options on margin and skip the credit jew entirely? Clearly you don't mind a shitload of risk.

any canadiananons do this?

what do you do user
teach