Honest question on AF's

[Anonymous]

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@Chris679 wrote:

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@kdm31091 wrote:

I would agree that if you have a long history with a thick file in good standing, you can probably "afford" to churn for bonuses sometimes, but I still wouldn't go hogwild with it. Sooner or later, the lender is going to catch on and stop approving you, there are only so many lenders out there.

To each their own though. It's not worth the "free travel" for me since I barely travel, lol

Good points about the Orbitz and the Buypower being 5% with no AF, but admittedly very niche and restrictive products.

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I think you should start going hogwild.  If you handle your cards responsibly there is no need to worry about making CCC happy.  They are rolling in cash so why not put them to work for you?  If one doesn't want your business there will be 10 more lining up for it. 

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+1

[kdm31091]

But churning for bonuses is arguably NOT the kind of responsible card handling the issuer is looking for

[Anonymous]

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@kdm31091 wrote:
But churning for bonuses is arguably NOT the kind of responsible card handling the issuer is looking for

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Perhaps not, but what good is credit if you can't make it pay you for being responsible?

[SomeGuyOnTheWeb]

Personally, I'm not AMF adverse (none of my cards currently have AMF's). However, it makes sense to dump a card with an AF if (1) your spend doesn't justify the fee or (2) the card benefits don't outweigh the fee. I'd actually be okay with keeping a card with a high AMF if it had some non-rewards benefit I frequently took advantage of. Buuut that's just me.

[Anonymous]

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@kdm31091 wrote:
But churning for bonuses is arguably NOT the kind of responsible card handling the issuer is looking for

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It is the most responsible kind of card handling. It means that you have read the terms of the card closely, know exactly how cards work and will almost certainly not default. 

Now, the fact that the issuer doesn't want you to do that... tough luck. 

[Chris679]

1. You don't know that. These companies aren't stupid they know what they are doing.

2. Who cares what they are looking for? That's my whole point. Do what you want and stop walking on eggshells. Responsible means PIF on time or if you need to float a balance make sure it's worth it and pay it off quickly.

3. Most importantly remember they serve you not the other way around.

[kdm31091]

Its also fair for them to say tough luck when they shut you down. Lol if you read the terms truly closely most of this kind of stuff is not OK. That's why the bonus typically can't be obtained twice in 24 months etc

[kdm31091]

I care what they want because they're the ones extending me the credit and giving me the rewards!

[Anonymous]

So toe the line and get that bonus every 26mos.

[Chris679]

I bet CCC hate it when I ring up 0% APR charges for 12-15 months and then pay them all off befor the intro period is up does that mean that's not ok either? That is basically the logic you are using. If it does not make them money=they don't like it=it's not ok. You are overlooking the fact that customers who do this stuff are safe borrowers for them. As long as they limit the bonuses they will come out ahead because a certain % will end up with a balance. Like I said they know what they are doing.