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Credit card churning NYT and amusing comment

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bs1234
Frequent Contributor

Credit card churning NYT and amusing comment

NYT has an article, How Churners Earn Money By Regularly Signing Up for Credit Cards - The New York Times

about churning.   Fairly average stuff for many on here.    But what I found funny is the comments, in particular:

 

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I worked at a high level for decades in consumer finance at the largest banks. I am extremely skeptical about this article. There is zero chance this [people churning credit cards could happen in the banks where i was a senior manager.

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Love to know which banks they were and pretty sure that he is wrong!

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3 REPLIES 3
Realist
Established Contributor

Re: Credit card churning NYT and amusing comment

You have to go into nearly all comment sections of all online articles generated, understanding that most are bots, or agencies that employ a vast number of individuals to create confusion, or misinformation, to generate a narrative.  I would think this is common knowledge to most by now, many years in the making now, but surprisingly it's not.  The comments section is a controlled environment, where few individuals have their say these days, and if they do, they are drowned out intentionally.  Some sites are very controlled in that they censor certain topics without debate at all.

 

Now with that said, reading through the article, assuming any of these comments are legit - they're about the lowest form of informed intellectual IQ as it gets.  The herd.  The mass.  The unit itself is nothing more than mob rule and identity, where they feed off each other for a cause.  They speak, without having walked the path.  Without having a clue.  It would have been better if they stated nothing at all.

 

But, at the end of the day, the collection of drivel in the comment sections, forms a narrative onto the readers downstream.

 

That's how it works.  The readers down stream, don't actually receive the truth.  They receive the narrative.   For those that do churn SUBs, it's enjoyable, it's profitable, it's not difficult, and there is much opportunity in it.

 

 

$XXX,XXX in credit lines.
Multiple months in free credit reward vacations.
$X,XXX in bank rewards in only 12 months.
I like FREE...

800+ FICO.

Making all numbers dance on a financial ledger.
Abuse that score responsibility.

Take nothing I say as financial advice. DYODD.
Message 2 of 4
LivingTheAmericanDream
Frequent Contributor

Re: Credit card churning NYT and amusing comment

Hmmm, guess many of us are 'myths!' I'm hitting SUBS, using THEIR $$$ through BTs and don't feel bad about it as issuers have made tons of money from me in the past. Now it's my turn.
   
 
 

  
Message 3 of 4
bs1234
Frequent Contributor

Re: Credit card churning NYT and amusing comment


@LivingTheAmericanDream wrote:
Hmmm, guess many of us are 'myths!' I'm hitting SUBS, using THEIR $$$ through BTs and don't feel bad about it as issuers have made tons of money from me in the past. Now it's my turn.

Right, but presumably that guy is no longer a senior manager at the banks you are hitting, so that's why it works!

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