Author: ThePope <asdf>     Reply to Message
Date: 8/4/2018 6:01:19 PM
Subject: credit card "churning"

Does anyone here sign up for credit card special offers that (usually) require you spend a minimum amount of money and reward you with points that can be redeemed for cash or travel?
Ive recently started this and it fits me well since i already spend a ton on my credit cards, but a lot of these offers are pretty sweet.
Being canadian i cant get the best offers from the US but here in canada a good example is the AMEX personal gold, first year free, spend 1500 to receive 25k amex points, which is worth $175-$250 statement credit. its basically free money. So far ive completed 2 cards and signed up for 5.
They usually require you to spend a certain X thousands of dollars within 3 months, but then credit you a bonus. Some cards are first year free. people who churn cards usually sign up and meet the min spend, pay off the card obviously, then cancel the card after 6months and reapply after 6 more months, repeating the cycle every year. In Canada there are about $4000 worth of offers, and i think its more lucrative in the states. Ill probably look at scheming a way to get the american cards in 6months or so once i have a credit history with amex.
so far ive earned about $250 worth of cash credit and $250 worth of travel credit for spending my usual amounts on my credit cards. Only recommend if you have good credit and are financially savy
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