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@Anonymous wrote:
When you guys say you “churn” cards, what exactly do you mean?
Strict definition: Get card A with a nice bonus, close card A, apply for card A again (or closely related card B) and get another bonus.
Relaxed definition: Get many new cards for bonuses and then either stop using them or close them.
@Anonymous wrote:
When you guys say you “churn” cards, what exactly do you mean?
It means getting cards for the sole purpose of SUB (sign up bonus) then close them, rinse and repeat. I think Gmood1 forgot about the closing part though.
@Anonymous wrote:
@Anonymous wrote:
When you guys say you “churn” cards, what exactly do you mean?I means getting cards for the sole purpose of SUB (sign up bonus) then close them, rinse and repeat. I think Gmood1 forgot about the closing part though.
Yes, as oldman87 says, the key is that the SUB is the only point in getting that card, rather than much more important MyFico features such as "its metal" or "looks great" (Amex Magnet, looking at you here, 1.5% and so much excitement)