Churning

[dcs02d]

If you are disciplined with credit cards and spending regularly on gas and fees you might head over to https://www.reddit.com/r/churning/

I'm able to make between $500 and a $1000 a month (I do every card twice... one for me and one for the wife.)

If there is a good bonus bonus I'll buy pre paid gas or grocery gift cards... pay the credit card off out of savings... get the bonus and then use the gas cards for a month or three while the savings builds back up.

It's a little bit of effort and you need some cash on had as well as a spreadsheet so you know exactly which cards are opened when... what the fees are and when to close them if there is one and it's a terrible idea if you don't have the cash and don't pay the cards off immediately.

As for my credit score. I started at about 780. After 2 years of 'churning' and dozens of credit cards I've noticed it will run my score up and down a bit. As low as 700 at one point 'too many new accounts opened' and then in a momnth or so it will drift back up to 760 or so.

[k0wtz]

don I have been doing that latest one is spend 1k in 3ms get a 200.00 credit how good is that?

bob

[dcs02d]

Originally Posted by k0wtz

don I have been doing that latest one is spend 1k in 3ms get a 200.00 credit how good is that?

It's a trade off on your personal expenses... For me. We can burn up $1000 in gas and groceries in a month (still have kids) so that is not a bad deal I think.

[k0wtz]

pretty easy thing to change our c/c s for paying automatic expenses in the household. Most deals are use the c/c for 1k in 3 mos that's a pretty easy do and by the way I found one spend 1k in 3 ms get 200.00 back.

by the way this hasn't dropped our credit score from 800 yet. but at 76 I don't care not buying anything big!


bob