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XScottX

Is there a master thread on churning?

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This is a new concept for me. I really only have 2 cards worth using this way.

 

Amex Pathfinder Travel. $3500

Penfed rewards card  $14500

 

Then 2 toy cards 

Cap 1 $500 useless

Navy fed 750 useless but I think in a couple months I can get a substantial bump

 

I dont even get what I'm doing with the points I get . I just wanted no AF and build my file up

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Churning

Taking on multiple new rewards cards to get the sign-up bonuses, then canceling them (usually before the annual fee is due) and reapplying to get the bonuses again is called churning.

 

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churning isn't dead but the issuers with the best SUBs have put in place policies to curb or even eliminate it.

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On 2/21/2019 at 6:58 AM, XScottX said:

This is a new concept for me. I really only have 2 cards worth using this way.

 

Amex Pathfinder Travel. $3500

Penfed rewards card  $14500

 

Then 2 toy cards 

Cap 1 $500 useless

Navy fed 750 useless but I think in a couple months I can get a substantial bump

 

I dont even get what I'm doing with the points I get . I just wanted no AF and build my file up

 

WTF have you been doing here since 2008?  Seriously.

 

You have two cards from PenFed so I'll go out on a limb and say you don't have sh!tty credit.  So WTF do you get two secured cards with laughable limits?  And one of the secured cards is fooking Navy Federal.  🤔

 

I smell a nope nope nope (TM) moment approaching.  Seriously.

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6 hours ago, PotO said:

 

WTF have you been doing here since 2008?  Seriously.

 

You have two cards from PenFed so I'll go out on a limb and say you don't have sh!tty credit.  So WTF do you get two secured cards with laughable limits?  And one of the secured cards is fooking Navy Federal.  🤔

 

I smell a nope nope nope (TM) moment approaching.  Seriously.

None are secured. 

 

In 08 I was building, got divorced in 10, she had opened a bunch of nonsense in my name, then i lived cash lifestyle for about 6+yrs. 

 

Cap 1 opened in dec NFC Jan and 2 penfed in Feb. 

 

Cap 1 500 NFC 700

 

I reapproached NFC asking to match pen fed, they said account is too new. Cap 1 got burned from ex for about 1k, so they set me up on 5 months of probation then will give an increase.

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10 minutes ago, XScottX said:

None are secured. 

 

In 08 I was building, got divorced in 10, she had opened a bunch of nonsense in my name, then i lived cash lifestyle for about 6+yrs. 

 

Cap 1 opened in dec NFC Jan and 2 penfed in Feb. 

 

Cap 1 500 NFC 700

 

I reapproached NFC asking to match pen fed, they said account is too new. Cap 1 got burned from ex for about 1k, so they set me up on 5 months of probation then will give an increase.

 

Thanks for the details.

 

In another thread thread you stated your two toy limit cards would "graduate" soon so here that means secured card.  

 

Other than the four positive cards, what derogatory tradelines are there?  Are there any positive closed accounts reporting?

 

If the only thing you have going for you are two toy cards and two PenFed cards, all under a year old, the last thing you will be experiencing in the near future is churning.  

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22 minutes ago, PotO said:

 

Thanks for the details.

 

In another thread thread you stated your two toy limit cards would "graduate" soon so here that means secured card.  

 

Other than the four positive cards, what derogatory tradelines are there?  Are there any positive closed accounts reporting?

 

If the only thing you have going for you are two toy cards and two PenFed cards, all under a year old, the last thing you will be experiencing in the near future is churning.  

I had meant "increase limit" 

 

No negatives, 

Age of file 12-15 yrs

 

After correcting several items last year, I lost a lot of TL's, so my file is thin.

 

Active 4 cards, 1 personal loan

Inactive 5 car loans 2 cards 3 personal loans. 

 

Scores as of yesterday are in my sig

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1 hour ago, XScottX said:

I had meant "increase limit" 

 

No negatives, 

Age of file 12-15 yrs

 

After correcting several items last year, I lost a lot of TL's, so my file is thin.

 

Active 4 cards, 1 personal loan

Inactive 5 car loans 2 cards 3 personal loans. 

 

Scores as of yesterday are in my sig

 

Your scores are good.  For experience, the only issue I see is the young age of your 4 open credit card accounts.  It's tough getting anything above toy limits until you hit one year, but even then 2 years is much better.  

 

For now I'd work on CapOne and Navy.  Of the two, Navy has far more potential. If you really need an additional card, maybe you would be good with Discover.  Have you checked any pre-qual sites?

 

 

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5 hours ago, PotO said:

 

Your scores are good.  For experience, the only issue I see is the young age of your 4 open credit card accounts.  It's tough getting anything above toy limits until you hit one year, but even then 2 years is much better.  

 

For now I'd work on CapOne and Navy.  Of the two, Navy has far more potential. If you really need an additional card, maybe you would be good with Discover.  Have you checked any pre-qual sites?

 

 

Right now I am holding still on any further credit until about June, then ill buy a car and pay off the personal loan, or at least down to negligible (probably may ill do this) 

 

Pen fed came out the gate with my 2 best cards, i'll work the nfc card just to get a better limit. Penfed with 14,500 and 3500, was a great start with them, so obviously i will favor them. I think NFC will work with me but I have only been with them since jan, so, I'll wait them out and use the card as described by you and the other person, charging low dollar nonsense, just to show payment and use. 

 

I'll probably start pushing for limit increases next fall, right now I am just thrilled to have 1 card i can pay EVERYTHING with and not be maxed or even over 15%. 

 

Chase and Amex direct are my next 2 i want.  

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7 hours ago, XScottX said:

Right now I am holding still on any further credit until about June, then ill buy a car and pay off the personal loan, or at least down to negligible (probably may ill do this) 

 

Pen fed came out the gate with my 2 best cards, i'll work the nfc card just to get a better limit. Penfed with 14,500 and 3500, was a great start with them, so obviously i will favor them. I think NFC will work with me but I have only been with them since jan, so, I'll wait them out and use the card as described by you and the other person, charging low dollar nonsense, just to show payment and use. 

 

I'll probably start pushing for limit increases next fall, right now I am just thrilled to have 1 card i can pay EVERYTHING with and not be maxed or even over 15%. 

 

Chase and Amex direct are my next 2 i want.  

 

Keep in mind the Chase 5/24 policy. 

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