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There exists a very strange group of people who practice "churning", something I don't fully understand. It involves opening as many accounts as possible to get
by yabones 4y ago
There exists a very strange group of people who practice "churning", something I don't fully understand. It involves opening as many accounts as possible to get sign-up bonuses, promotions, etc, then transferring balance back and forth between accounts, then closing accounts.
https://old.reddit.com/r/churning/ https://old.reddit.com/r/churning/
I would imagine those people are in the 99th % of cards per capita...
- propogandist 4y agoit's pretty easy to do, and there's even a flowchart for people getting started on that subreddit. Hitting a minimum spend threshold with a "good card" within 90 or so days will net a signup bonus ($500-$1000+ in cash or more in travel rewards). Most people opt to get the sign up bonus, then stop using the card, and later repeat with another card. Free cash, travel credits, hotel stays, lounge access when travelling etc. just by diversifying your credit card portfolio, spending the money you would anyway. There are lots of websites are out there focused on this topic, but most of them are optimized to shill affiliate links since credit card companies pay out $75-150+ per card signup. doctorofcredit.com is a good site I reference that doesn't shill links, but they have a lot of good curated content.