Sign-up Bonuses

[Anonymous]

Just curious how many people have signed up for a CC JUST to get the sign-up bonus, with no intention of using the card ever again once the initial spend requirement was fulfilled?

I have several CC offers sitting on my desk now, but I dont see myself ever using the cards again after I met the spend requirements and got the sign-up bonuses. I am not a big fan of keeping a CC sitting around unless it fulfills a need.

[afinch1992]

A valid strategy and the basis of most credit card blogs. Depends on your goals. If you want to rack up crazy miles, etc, it may be for you. If you want simplicity, may not be for you. To me it sounds like you are more the latter person. 

I am personally in-between. I will sign up for bonus alone, but I usually couple that with the thought that I would potentially use the card (it doesn't always work out that way). 

[yfan]

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@Anonymous wrote:

Just curious how many people have signed up for a CC JUST to get the sign-up bonus, with no intention of using the card ever again once the initial spend requirement was fulfilled?

I have several CC offers sitting on my desk now, but I dont see myself ever using the cards again after I met the spend requirements and got the sign-up bonuses. I am not a big fan of keeping a CC sitting around unless it fulfills a need.

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This is in essence churning/bonus chasing, and the last time I saw, for the purposes of discussion here, advocating for this strategy is a no-no. Unless admin already a made a decision to allow, and I am not aware of it.

No one can stop you from doing what you want with the offers you have. But these kinds of persuit can lead to the product overall being weakened, and a lot of people who use their cards "normally" and don't do this may not like it so much when you do it. More importantly, banks are getting smarter about detecting this behavior and shutting off the avenues to do so, or to take AA. Whether that risk plus reduced AA plus the inquiries are worth temporary bonuses (which will at some point get cut off, maybe sooner in your app spree than you think) is your decision to make.

[Anonymous]

There's an entire subreddit devoted to this...haven't seen it discussed here really.  Only for those who are meticulous about their finances though, as it leads to a lot of juggling in terms of which accounts need to be paid off for how much by what deadline, etc.

[yfan]

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@Anonymous wrote:

There's an entire subreddit devoted to this...haven't seen it discussed here really (probably for the reasons yfan listed, although personally I don't think it's the same level as MS because you don't have to MS to get bonuses if you normally spend that much anyways).  Only for those who are meticulous about their finances though, as it leads to a lot of juggling in terms of which accounts need to be paid off for how much by what deadline, etc.

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I wasn't saying this is the same as MS, but rather that discussion about it on these forums is treated the same way discussion about MS is (no advocacy).

[red259]

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@yfan wrote:

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@Anonymous wrote:

There's an entire subreddit devoted to this...haven't seen it discussed here really (probably for the reasons yfan listed, although personally I don't think it's the same level as MS because you don't have to MS to get bonuses if you normally spend that much anyways).  Only for those who are meticulous about their finances though, as it leads to a lot of juggling in terms of which accounts need to be paid off for how much by what deadline, etc.

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I wasn't saying this is the same as MS, but rather that discussion about it on these forums is treated the same way discussion about MS is (no advocacy).

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And nobody is advocating anything in this thread so it is a moot point. 

[yfan]

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@red259 wrote:

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@yfan wrote:

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@Anonymous wrote:

There's an entire subreddit devoted to this...haven't seen it discussed here really (probably for the reasons yfan listed, although personally I don't think it's the same level as MS because you don't have to MS to get bonuses if you normally spend that much anyways).  Only for those who are meticulous about their finances though, as it leads to a lot of juggling in terms of which accounts need to be paid off for how much by what deadline, etc.

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I wasn't saying this is the same as MS, but rather that discussion about it on these forums is treated the same way discussion about MS is (no advocacy).

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And nobody is advocating anything in this thread so it is a moot point. 

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The way I read OP, the post is asking if they should do it (since they have offers, and I doubt they are merely looking for an objective survey), implying advocacy. In my opinion the second post also toed the line. So in my judgment it wasn't a moot point. But let's hope it does turn out to be a moot point and that this discussion doesn't advance that way.

[red259]

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@yfan wrote:

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@red259 wrote:

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@yfan wrote:

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@Anonymous wrote:

There's an entire subreddit devoted to this...haven't seen it discussed here really (probably for the reasons yfan listed, although personally I don't think it's the same level as MS because you don't have to MS to get bonuses if you normally spend that much anyways).  Only for those who are meticulous about their finances though, as it leads to a lot of juggling in terms of which accounts need to be paid off for how much by what deadline, etc.

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I wasn't saying this is the same as MS, but rather that discussion about it on these forums is treated the same way discussion about MS is (no advocacy).

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And nobody is advocating anything in this thread so it is a moot point. 

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The way I read OP, the post is asking if they should do it (since they have offers, and I doubt they are merely looking for an objective survey), implying advocacy. In my opinion the second post also toed the line. So in my judgment it wasn't a moot point. But let's hope it does turn out to be a moot point and that this discussion doesn't advance that way.

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Or you could just leave it to the mods (if there was actually any problem which my understanding is the mods took no position on these discussions), which last time I checked you are not one.

[Anonymous]

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@yfan wrote:

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@red259 wrote:

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@yfan wrote:

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@Anonymous wrote:

There's an entire subreddit devoted to this...haven't seen it discussed here really (probably for the reasons yfan listed, although personally I don't think it's the same level as MS because you don't have to MS to get bonuses if you normally spend that much anyways).  Only for those who are meticulous about their finances though, as it leads to a lot of juggling in terms of which accounts need to be paid off for how much by what deadline, etc.

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I wasn't saying this is the same as MS, but rather that discussion about it on these forums is treated the same way discussion about MS is (no advocacy).

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And nobody is advocating anything in this thread so it is a moot point. 

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The way I read OP, the post is asking if they should do it (since they have offers, and I doubt they are merely looking for an objective survey), implying advocacy. In my opinion the second post also toed the line. So in my judgment it wasn't a moot point. But let's hope it does turn out to be a moot point and that this discussion doesn't advance that way.

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I wasn't advocating anything in my original post. My post was more of a curiosity question to see what people here considered the norm, and possible pros and cons. That's all.

Moderators, feel free to close this thread.

[red259]

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@Anonymous wrote:

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@yfan wrote:

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@red259 wrote:

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@yfan wrote:

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@Anonymous wrote:

There's an entire subreddit devoted to this...haven't seen it discussed here really (probably for the reasons yfan listed, although personally I don't think it's the same level as MS because you don't have to MS to get bonuses if you normally spend that much anyways).  Only for those who are meticulous about their finances though, as it leads to a lot of juggling in terms of which accounts need to be paid off for how much by what deadline, etc.

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I wasn't saying this is the same as MS, but rather that discussion about it on these forums is treated the same way discussion about MS is (no advocacy).

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And nobody is advocating anything in this thread so it is a moot point. 

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The way I read OP, the post is asking if they should do it (since they have offers, and I doubt they are merely looking for an objective survey), implying advocacy. In my opinion the second post also toed the line. So in my judgment it wasn't a moot point. But let's hope it does turn out to be a moot point and that this discussion doesn't advance that way.

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I wasn't advocating anything in my original post. My post was more of a curiosity question to see what people here considered the norm, and possible pros and cons. That's all.

Moderators, feel free to close this thread.

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Yes it was clear you weren't advocating or asking if you should do this.