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I Didn't Mean to Churn, Yet it Happened

Valued Contributor

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.
Shortcuts to credit lead to shortcut results.
Message 11 of 199
Super Contributor

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.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727 FICO Simulator 2014: $20k balances = 812 FICO.
March 2017 $20k on $300k 6% util EQ 824 TU 824 EX 815

5 / 24 counting down to 1 Nov 2017... wait I guess it's 18 Dec 2017 to get 4/24
Message 12 of 199
Valued Contributor

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

So unless it involves store card 5 figure CLIs it's disallowed. Got it. 👌
Shortcuts to credit lead to shortcut results.
Message 13 of 199
Community Leader
Super Contributor

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?

Message 14 of 199
Super Contributor

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!  .

 

Message 15 of 199
Valued Contributor

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?

FICO 08-EX: 746 TU: 752 EQ: 750 AAoA: 4yrs TLs: 40 Neg: 0

Credit Limits: $300,000+
Miles: 400,000+
MRPs: 200,000+
Cash Back: $2,000+
Message 16 of 199
Moderator

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

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.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 17 of 199
Established Contributor

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.
Message 18 of 199
Established Contributor

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. 

Message 19 of 199
New Contributor

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.

Starting Oct-2014: TU(FICO)731 TU(CK)714 EX725 EQ(FICO)705
Current Jan-2016: TU(FICO)711 TU(CK)722 EX688 EQ(FICO)689 EQ(CK)717

Gardening since: Mortgage is done and I finally picked up my United Explorer card! Gardening resumed July 2015!
Message 20 of 199