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Basic credit card churning is absolutely worth it. For normal people, this is by far the easiest way to enjoy champagne and lobster at 40,000 feet from a seat that folds into a bed. It's not complicated or risky until you get to the point where you're worrying about things like 5/24 limits or manufactured spend. The only real requirements are that you always pay your balance off, you can meet the minimum spending requirements from normal monthly spending, and your credit is good enough to qualify for the cards you want. Opening a bunch of credit cards isn't going to screw up your credit unless you have other problems or you're doing it at the same time you're trying to qualify for your mortgage. I agree with asur that the hardest part is finding good redemptions. The high-fee cards are really intended for people who travel on a regular basis. There are ways to recoup most/all of the fees but they require you to be spending that much money on travel expenses in the first place. Start with the low/no-fee cards unless you can see a clear path toward offsetting a $500+ annual fee or it's waived in the first year.
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Jan 2, 2021 20:23
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| # ¿ Sep 12, 2024 13:02 |
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