Churning Credit Cards

[clone52]

Anyone have experience with churning credit cards?

For the last 5 years I've always just had one credit card that gave me airline miles. At the time I signed up they gave me like 40k airline miles but every since I just pay $95/year and there really isn't a big bonus to stay with one card.

I called up my credit card company to see if they could do anything for me and they just offered a lower rate, which doesn't matter to me.

After doing some research, I don't think I want to be the type of person who is trying to manage 5 different credit cards(churning) to take advantage of all the different offers. I also had put in place a credit freeze last year so to get a different card, I would have to unlock at least one of those.

I decided to go with Chase Sapphire Preferred since it sounds like this may be the best option for people with just one card. Now I have to spend $4k over the next 3 months, which will be a little bit of a challenge.

Anyone else have this card? Anyone churn and get a lot of benefit?

Anyone have experience with churning credit cards?

For the last 5 years I've always just had one credit card that gave me airline miles. At the time I signed up they gave me like 40k airline miles but every since I just pay $95/year and there really isn't a big bonus to stay with one card.

I called up my credit card company to see if they could do anything for me and they just offered a lower rate, which doesn't matter to me.

After doing some research, I don't think I want to be the type of person who is trying to manage 5 different credit cards(churning) to take advantage of all the different offers. I also had put in place a credit freeze last year so to get a different card, I would have to unlock at least one of those.

I decided to go with Chase Sapphire Preferred since it sounds like this may be the best option for people with just one card. Now I have to spend $4k over the next 3 months, which will be a little bit of a challenge.

Anyone else have this card? Anyone churn and get a lot of benefit?

I am up to 4 credit cards that I pay off every month. I don't think the number
My first was a Discover Card that I applied for while at Iowa State. It just has a basic 1% cash back with rotating 5% cash back in different areas (sometimes gas, sometimes grocery, sometimes Amazon, etc.)
Then I got a GM card (Mastercard I think) for the rewards, but got a full time job that gave me the exact same prices as the GM card would have, so it was pointless. I rarely use this one any more.
I got a VISA card that had extra cash back on Gas and Groceries (compared to my discover card).
Just a year ago, I got an American Airlines card. Got a chunk of miles through work travel and got the bonus for getting the card. It too has the $95 fee, but my wife and I travel enough and check our bags, that we make up that fee just in baggage savings costs. One trip a year pays for it.

 

[4theCYcle]

I've been churning at a moderate rate the past 3-4 years - just finished the Marriott sign-up bonus for 70k points. I use a Citi Double Cash for all my normal purchases when not trying to hit a sign-up bonus. Most of them I cancel before the annual fee hits. There are a couple I've kept longer than a year, such as the IHG which has a $49 annual fee but includes a free night annually (which they just recently changed terms on & made more restrictive).

r/churning is SUPER helpful

What were the change of terms? I guess I haven't seen them.

I have 3, but don't really count my menards card because I don't use it that often. But my main choice of card is the Venture card b/c my wife and I like to travel a lot. I also have the IHG card since I get the free night and the annual fee isn't too high.

I recently got some stuff in the mail for a Luxury black card, not sure I've even heard of that.

 

[cycloneworld]

I've been churning at a moderate rate the past 3-4 years - just finished the Marriott sign-up bonus for 70k points. I use a Citi Double Cash for all my normal purchases when not trying to hit a sign-up bonus. Most of them I cancel before the annual fee hits. There are a couple I've kept longer than a year, such as the IHG which has a $49 annual fee but includes a free night annually (which they just recently changed terms on & made more restrictive).

r/churning is SUPER helpful

I keep cards, even with high annual fees, that benefit me. I have the Hilton Aspire card because I stay in hotels 80+ nights per year, mostly at Hilton props. It has a whopping $450 annual fee but I get a free weekend night per year at any Hilton property, up to $250 in baggage fees (which I get reimbursed from my employer for), and unlimited access to Priority Pass airport lounges. Plus massive point multipliers. It's the card I rack up the most value - by far.

 

[salennon07]

I've been doing this for around 2 years now... I really hope the game doesn't change too drastically because I couldn't imagine paying to travel anymore. This year alone I'm doing San Diego / Coronado for 3 night anniversary trip in July and 7 nights in Hawaii for the Maui invitational (staying in sheraton where team is).

Total cost of those two should have been 10 grand, and i have 175 in resort fees and taxes/fees associated with the flights.

And the best part, in relation to the old myth that CC's are bad. My score is up from 715 two years ago to right around 800 now.

 

[mcblogerson]

We do that every year or two when we find good deals.
Current deal we’re running is on Southwest Visa cards. We spent around 3k per card in the first 3 months got 50k miles per card and companion pass so one flys free. Then we did it again, so we can fly our family of 4 for the price of 2 for the next two years. We’ll renew the cards at $95 each for one year then the deal will run out and we’ll cancel. So we plan on flying all over for the next two years.

We pay off our cards every month.

 

[ianoconnor]

What were the change of terms? I guess I haven't seen them.

I have 3, but don't really count my menards card because I don't use it that often. But my main choice of card is the Venture card b/c my wife and I like to travel a lot. I also have the IHG card since I get the free night and the annual fee isn't too high.

I recently got some stuff in the mail for a Luxury black card, not sure I've even heard of that.

They basically made redemption more restrictive. Now you can only book hotels 40k points & lower, so it takes out some of the high end options that people would use their free night for. The cynical thought is that they will jack up the rates on a bunch of hotels to just over 40k so that people can't use the free night on them.

Here's an article that explains it: https://www.asksebby.com/blog/updat...hg-rewards-club-select-anniversary-free-night

 

[4theCYcle]

They basically made redemption more restrictive. Now you can only book hotels 40k points & lower, so it takes out some of the high end options that people would use their free night for. The cynical thought is that they will jack up the rates on a bunch of hotels to just over 40k so that people can't use the free night on them.

Here's an article that explains it: https://www.asksebby.com/blog/updat...hg-rewards-club-select-anniversary-free-night

Ahh makes sense. I did that when we stayed in an $800+ per night suite in Bordeaux last year. Had to make them mad. When I worked sales I used to rack up points like crazy and that's how we "paid" for our hotels in New Zealand on our Honeymoon.

 

[KnappShack]

In true CF fashion I do not have any credit cards

Dumped them in 2008 after the crash

 

[ArgentCy]

Too much hassle to worry about these rewards. Get a couple good cards and worry about more important things for you finances. IMO of course.

 

[ArgentCy]

In true CF fashion I do not have any credit cards

Dumped them in 2008 after the crash

Dave would approve.

 

[NickTheGreat]

I'm intrigued by it, but I don't really want to carry multiple cards. Have one for gas, one for groceries, etc.

I still use the Capital One Venture card, but since I don't travel as much as I used to (kids) I should switch to a straight cash card.

 

[isufbcurt]

I have more credit cards than I know what to do with, but only use 2 regularly. I get a lot of deals for 0% interest for 12 - 18 months so I use them to make large purchases and then just pay them off or transfer them to another 0% card before they period runs out.

 

[KnappShack]

Dave would approve.

Those who understand compound interest earn it. Those that don't pay it.

But mostly it was because credit card companies roll out the red carpet when times are good. When times are tough they resemble a mafia collection crew.

 

[BryceC]

Too much hassle to worry about these rewards. Get a couple good cards and worry about more important things for you finances. IMO of course.

It is a hassle. But it's saved me thousands of dollars, and given me the opportunity to watch ISU in Hawaii this year, which makes it worth the hassle.

 

[ArgentCy]

There are some who do well with it and keep on top but I also think you have to travel a lot. I don't really enjoy travelling all that much so it isn't worth it to me. I probably do have a couple others that I forget because I got them for no interest deals but never use them.

 

[Farnsworth]

I have more credit cards than I know what to do with, but only use 2 regularly. I get a lot of deals for 0% interest for 12 - 18 months so I use them to make large purchases and then just pay them off or transfer them to another 0% card before they period runs out.

I've done the same thing before but find the balance transfer fee is usually equal to paying interest so there isn't much upside. Any new 0% offers I get now I just trash.

 

[4theCYcle]

I'm intrigued by it, but I don't really want to carry multiple cards. Have one for gas, one for groceries, etc.

I still use the Capital One Venture card, but since I don't travel as much as I used to (kids) I should switch to a straight cash card.

Why do you let this be the reason you "stopped?" If you continue to build points, you can still book trips, just let a little more time pass in between to save points and money. There are deals out there, too many people pay too much for flights etc.

 

[Rabbuk]

I have a credit card solely for the purpose of building credit... Groceries and gas on it, pay it every month.

 

[NickTheGreat]

Why do you let this be the reason you "stopped?" If you continue to build points, you can still book trips, just let a little more time pass in between to save points and money. There are deals out there, too many people pay too much for flights etc.

That's true, and that's why I still have it. But I have flown probably 3 or 4 trips in the last 4 or 5 years. And those were paid for by work.

We haven't been brave enough to take kids on a plane . . .

So it's more that I wonder if i'd rather just have the cash back.

 

[ISUCyclones2015]

I churn regularly. Last time I talked about credit cards on CF though, it was a firing squad. So I'll be brief.

I have about 4 cards I rotate and 2 permanent ones I keep along with a couple no Annual Fee ones that I got when I was 18 to keep my longevity up. I usually use one exclusively until I hit the bonus and then it sits there for 10 months until I cancel before the renewal comes in. If I don't have one with a bonus I am going after or I already completed it, I use my Chase Sapphire Reserve as my main card.

Always pay off your cards and don't manufacture spend, you'll be fine. Know your limits!

A big bonus is my landlord accepts credit card rent payments with no fee, so I can easily get the points bonuses without actively trying to overspend.