Credit Card Applications - Churning

Churning primarily refers to the act of applying for the same credit card repeatedly for multiple opening rewards and benefits.

The reason for churning is simple: some credit cards, especially airline, hotel and bank co-branded cards, often offer very high Open card rewards. For applicants, instead of applying for some other credit card with low opening rewards, apply for the same card again and get another High reward.

How do I make churn?

The first thing to look for before churning is whether or not the card can be churned, and of course the key is to repeat the Whether or not you will receive a card bonus for applying and what is required to receive it. Different banks have different policies on this point, which have already been covered in the article "Characteristics of Each Bank". Features to analyze how to churn.

AMEX

The new policy is that personal cards can only get one reward on the same credit card, so they can't churn anymore. Business cards do not have this restriction, so they can still churn. Focus on the main content, so interested churners can google it themselves or on the Learn about flyertalk related pages. Credit cards of the same series, such as Everyday and EveryDay Preferred. They do not affect each other's opening bonus.

BOA

There is currently no policy for Churn. As soon as you apply to get a card, you'll get a card opening bonus. So the conclusion is whatever churn.

Barclays.

Currently the system automatically detects if you have the card or not, and if you still have it, you won't be able to apply for it, and of course you won't get the card opening bonus. However, if you turn off the card before the churn, you will be able to apply for it and get the rewards repeatedly.

Chase

The current policy is that as long as you haven't taken the card opening bonus within two years, you can reapply to get the card opening bonus again. And you can't reapply for a card you already have. So the way to do it is: get a card with an opening bonus, make a note of when you get the bonus, and turn off the card when the annual fee is charged (or before you apply). (off card), wait until two years after you get the reward and apply for the same card again.

Now, if you've been rewarded on a particular chase card and then apply again within 24 months, the application will be Directly rejected (before it was an application that might have passed, but no award), HT.DOC. which is sort of good news for us. Now a churn failure will only have an HP, whereas it would have had an HP + a new account + an open for nothing. Card Spending Mandate.

Chase has written the new rule into the Offer Term for all cards. You can look at your credit card statement or your co-branded airline hotel card account to see if you've earned rewards in 24 months.

Citi

Citi has limited the opening bonus to cards of the same series that have not been opened or closed within 24 months. . Like Thankyou Preferred and Premier and Prestige. If you have opened or closed any card in this series within 24 months, reapplying for a card in this series will There will be no opening card rewards.

With the churn card, we get an additional opening bonus, at the cost of increased HP and The new account is the same. The additional risks are as follows.

The impact and the bank's relationship: if the bank thinks you are applying for a credit card just to get more opening rewards, there is a chance that they will mark you as a special customer later, and you may not be able to apply for that bank's credit card for some time.

It's possible that you won't get the opening bonus: Although the bank's policy is clearly written, we can't rule out some natural disasters (system failure) and man-made disasters (misremembering the time by yourself), and it will be difficult to get the opening bonus.

For the airline account may be closed: recently someone's Alaska Airlines was closed due to multiple open card rewards entry, although the real reason is unclear and needs attention.