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Valued Contributor
Posts: 1,728
Registered: ‎06-05-2015

Re: I Didn't Mean to Churn, Yet it Happened

I think describing in detail is what is "frowned upon", but in general churning isnt all bad even though its dying just like every credit report "manipulation" technique, like how I have a 17yr AAoA due to 39yr AX backdate. Lol.
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Re: I Didn't Mean to Churn, Yet it Happened


longtimelurker wrote:

Yes-Its-Me wrote:

Churning is not allowed to be discussed on this board.  If you don't have any need for the card and just looking for bonuses, this isn't the best place for such a discussion.  Churning is not all that as companies are catching on.  You are likely threading dangerously closing and opening accounts just for bonuses.


I haven't heard that before!   What is the real difference between say, the hundreds of posts of "When will Freedom offer $200 again?" and churning, in both cases the bonus is obviously a huge part of the reason for getting the card.   Or going for a card merely because of the high starting limit?


The posts asking when the likely sign up bonus will be available is only about when to open a relationship with a CCC, to get a particular card with the best benefits.

The posts sharing information about large CL being granted are similarly sharing information about which new cards are beneficial to get.

Discussions about whether to close a card are after the cardholder has a chance to learn more about the card, and may want to decide whether to continue with the AF or not.

 

Churning is a different set of combined intentions altogether.

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Re: I Didn't Mean to Churn, Yet it Happened

So unless it involves store card 5 figure CLIs it's disallowed. Got it. 👌
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Posts: 14,744
Registered: ‎11-11-2014

Re: I Didn't Mean to Churn, Yet it Happened


longtimelurker wrote:

Yes-Its-Me wrote:

Churning is not allowed to be discussed on this board.  If you don't have any need for the card and just looking for bonuses, this isn't the best place for such a discussion.  Churning is not all that as companies are catching on.  You are likely threading dangerously closing and opening accounts just for bonuses.


I haven't heard that before!   What is the real difference between say, the hundreds of posts of "When will Freedom offer $200 again?" and churning, in both cases the bonus is obviously a huge part of the reason for getting the card.   Or going for a card merely because of the high starting limit?


@Longtimelurker,

 

I am not going to turn this into an argument. I think we all know the intention here just like the other threads - can I get the freedom offer for $200 again.  You will come to realize that such threads often tend to be locked and moved.

 

Why is OP looking to apply for a new card?

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Re: I Didn't Mean to Churn, Yet it Happened


NRB525 wrote:

longtimelurker wrote:

Yes-Its-Me wrote:

Churning is not allowed to be discussed on this board.  If you don't have any need for the card and just looking for bonuses, this isn't the best place for such a discussion.  Churning is not all that as companies are catching on.  You are likely threading dangerously closing and opening accounts just for bonuses.


I haven't heard that before!   What is the real difference between say, the hundreds of posts of "When will Freedom offer $200 again?" and churning, in both cases the bonus is obviously a huge part of the reason for getting the card.   Or going for a card merely because of the high starting limit?


The posts asking when the likely sign up bonus will be available is only about when to open a relationship with a CCC, to get a particular card with the best benefits.

The posts sharing information about large CL being granted are similarly sharing information about which new cards are beneficial to get.

Discussions about whether to close a card are after the cardholder has a chance to learn more about the card, and may want to decide whether to continue with the AF or not.

 

Churning is a different set of combined intentions altogether.


Um, yes, that's right!  .

 

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Re: I Didn't Mean to Churn, Yet it Happened


JonE wrote:

And these days Chase is starting to make Barclays look like Capital One in comparison (not that I have a problem with that.)

 

Chase has always been a somewhat conservative lender, that's growing with their 5-card limit, not just of theirs, but 5 cards from ANY lender.  The only OTHER card I really want from them is the Sapphire Preferred.  That and a few AMEX would complete my card acquisitiions indefinitely. 


Can you please share more about this?

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Re: I Didn't Mean to Churn, Yet it Happened

[ Edited ]

Lets keep this discussion on the OPs question and not go off on a tangent. I thank you for your cooperation in advance  Smiley Happy

 

Adding: What is taboo in regards to churning is the advocation of such practices. What usually happens in a churning thread is it turns into an advocation of MS and that is the big taboo on myFico. So be sure to maintain your discussions keeping in mind where the line is.

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Re: I Didn't Mean to Churn, Yet it Happened

OP can close cards or voluntarily reduce limits by secure message/call to create breathing room for a new account.
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Re: I Didn't Mean to Churn, Yet it Happened


lhcole77 wrote:

JonE wrote:

And these days Chase is starting to make Barclays look like Capital One in comparison (not that I have a problem with that.)

 

Chase has always been a somewhat conservative lender, that's growing with their 5-card limit, not just of theirs, but 5 cards from ANY lender.  The only OTHER card I really want from them is the Sapphire Preferred.  That and a few AMEX would complete my card acquisitiions indefinitely. 


Can you please share more about this?


I would say do a search here, since there are threads all over the place in regards to that.  You have a limit of applying for 5 cards TOTAL (not just chase cards) in a 24 month period. 

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Re: I Didn't Mean to Churn, Yet it Happened


JonE wrote:

lhcole77 wrote:

JonE wrote:

And these days Chase is starting to make Barclays look like Capital One in comparison (not that I have a problem with that.)

 

Chase has always been a somewhat conservative lender, that's growing with their 5-card limit, not just of theirs, but 5 cards from ANY lender.  The only OTHER card I really want from them is the Sapphire Preferred.  That and a few AMEX would complete my card acquisitiions indefinitely. 


Can you please share more about this?


I would say do a search here, since there are threads all over the place in regards to that.  You have a limit of applying for 5 cards TOTAL (not just chase cards) in a 24 month period. 


 

That is not at all true.  My credit card history is not 24 years old at this point, however I have 10 total cards approved in that time frame which the LAST TWO were from Chase.

 

Sure, other than Synchrony, the only bank that I have applied for multiple cards is Chase, but my point is a "total of 5 cards max from all lenders" is not at all on their radar.

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