Cookies help us deliver our Services. Please read through out wiki to get an idea of what it is we're about here. There are ways to get better than simple 2% (e.g. The idea is to make some … You can get both but you can't get the It and the It Miles easily. search. The Reddit churning community offers advice on the first two. Although it can be very profitable, it can be extremely dangerous. It earns 2% on all purchases, but you get 10% back each time you redeem your points so it is essentially 2.22%. That said, get both. Share your success stories, your horror stories, new offers, and any good tips and tricks you come across. save. The Citi DoubleCash has no signup bonus. Reddit Churning Lesson 1: Do Your Research First (AKA Lurk, Search And Read) As with any new passion or hobby, you’ll likely want to dive right in. Credit card churning is the somewhat controversial practice of repeatedly applying for new accounts just to earn their sign-up bonuses. That would be a really simple, no-hassle approach. Archived. The CSP's design says hi. The only drawback is that you can only redeem these points for travel purchases of $25 or more (car rentals, hotels, flights, public transportation, taxi, bus, etc.) You will get $50, which will be doubled at the end of your first cardmember year. Claim: Engineers drained Niagara Falls in 1969 and made a grisly discovery. Does the discover portal have a lot of savings/deals? Looks like you're using new Reddit on an old browser. level 1. If you are only going to have one card and keep it for a long time you can't go wrong with Double cash- no annual fee, and 2% on everything is about is good as it gets. Barclay SalieMae or Amex Blue Cash Everyday). Hold your horses, Reddit is a finicky place and that’s VERY present with it comes to churning subs. Also seems to be the most friendly card company, uses only U.S. customer service reps, no forex fees, waives first late payment fee etc. New comments … (unofficial) reddit.guide. Basically, it is great for the first year, then meh after that. Churning is not too good to be true; however, these banks offers these bonuses because people will screw up. This subreddit is very focused on sign-up bonuses so some of the cards you see suggested here are not necessarily great cards for cash back or long-term use. Without a doubt, "card churners" take earning rewards to the next level. I just paid down all my cards and will be calling them today to close the card. 70. Not 100% sure but i believe people have mentioned in the past getting the Citi ThankYou Premier card, getting the signup bonus for minimum spending, and downgrading to the citi double cash before the annual fee hits. This thread is archived. View Entire Discussion (140 Comments) More posts from the churning community. To give another comparsion, let’s assume you have a 2% cash back card and you sign up for another credit card with a $200 cash bonus. Credit card churning involves frequently applying for new credit cards, not necessarily to use or even keep them, but rather to take advantage of lucrative sign-up or welcome bonuses in the form of cash or rewards miles or points. In the case of the Cash Back card that means getting 2% cash back everywhere and 10% cash back on category spend, as well as double the cash back on portal, referral, and … Attention: reddit contest mode is broken. So far I have nailed it to the two cards mentioned in the title. Getting the right credit cards takes research and organization. arrow_drop_down. One advantage to cash-back is that it's the same "currency" regardless of which bank issues the card (which is different than "points and miles" cards). The blast of Arctic weather currently burying Europe and eastern Canada in meters of snow could be a first sign of still worse things to come this winter.. 88% Upvoted. However if you want to put some more effort into maximizing returns, then having Double cash and some other rotating cards for certain things would be a great idea. Do you guys close these credit cards after you extinguish the bonuses you're after, and does closing credit cards frequently hurt your credit? report. Finally, I would encourage you to look around r/churning. That would give $500 with the sign up bonus alone. Unfortunately, r/personalfinance is somewhat credit-card-averse, so they tend to farm out the people that insist on using credit cards. Churning is the practice of signing up for new credit cards repeatedly just to earn the cards' sign-up bonuses. It has a $50 signup bonus if you go with a referral. Credit card churning is a great way to stretch your travel budget. Thanks so much for the information. A place to discuss credit cards to profit from sign-up offers. I had to choose between It and It Miles and ended up with the It Miles for the simplicity (3% for 1st year). Any value to this over other comparable cards? "This discovery of a monolith piece -- that's very much in line with his artistic vision." A place to discuss credit cards to profit from sign-up offers. Take a look around at the wiki and welcome to the subreddit! One thing I would say is For new card holders If you sign up right now for 1 year,they will double their cashback rate rewared at the end, Ie discover it,get it in june 2015,get $200 dollar cashback in time, till june 2016, at the end of that june they will award another 200. Posted by 3 years ago. I wouldn’t recommend this card unless you plan to put A LOT of spend on it during the first year and even then, be careful because you’ll need to wait twelve months for Discover to double it. OR If you are willing to do a bit more research the sign up bonus for a different Citi card and downgrading. 82 comments. r/churning 191k subscribers A place to discuss credit cards to profit from sign-up offers. Isn't there also double cash back for the first year on discover it? Report Save. SFO 5 years ago. http://www.doctorofcredit.com/full-discover-it-miles-review/. Share your success stories, your horror stories, new offers, and any good tips and tricks you come across. … However, use credit cards wisely or you risk negating all the benefits of those sign-up bonuses. For the first year it's a 3% cash back card for everything, then 1.5% after that. The only component with it is that it takes up significant time to learn and execute. Im looking to get a card I can charge almost everything on and pay off instantly or at the end of the month. Another way churning could hurt your credit is if you forget to make a payment because you’re juggling so many credit cards. 10% for rotating cats and 2% for all other? Since this is r/churning to get the most bang for your buck, sign up bonuses will almost always give you more cash. For many years, some extreme award travel enthusiasts have practiced churning as a way of amassing points and miles from credit cards that they have no intention of using or keeping. Continue browsing in r/churning. If you close your credit card account immediately after earning your sign-up bonus (or before the end of a promotional period), you could avoid paying annual fees and interest. If it seems interesting, you may even want to get into it a little more. Credit card churning is technically legal and there are some advantages to putting it into practice. If you would like truly random referrals or to preview offers, you can use rankt: Discover It Referrals @ churning.rankt.com This being r/churning, I will advise you to look into the Barclay Arrival+ mostly for its signup bonus (40k "points" valued at $444). The Citi DoubleCash is great to have as a fallback to get 2% minimum. Discover replacing Cashback Checking rewards structure with 1% cash back on debit card purchases. By opening many cards, you can rack up a significant number of miles or points or a hefty sum of cash within a short period. Press J to jump to the feed. Annual fee is waived the first year, after which it's $89 (but you can downgrade or cancel before reaching your anniversary and not pay a dime). 6. share. A place to discuss credit cards to profit from sign … Share your … Getting the right credit cards will give you access to free hotels, flights, and travel experiences. For booking award travel, head on over to the r/AwardTravel. The comments on this post also suggest to start with a secured card, although some commenters suggested that Discover is a good place to start as well as Wells Fargo, who will start new creditees/students off at a $500 dollar credit card, according to user MuchCrumby. People will begin to pay interest, they will get behind on their cards, and they will have no way out. Do the numbers hold clues to what lies ahead for the stock? By using our Services or clicking I agree, you agree to our use of cookies. I didn't even touch my Discover card but had some large business and travel expenses come unexpectedly. The double cash is a good all purpose card but if you have specific spending, whether it be travel, groceries, department stores. Bank Account. Travel hacking (or credit card churning) is a great way to earn free travel around the world. Citi Thank You … I believe this is the best deal from Discover on the Discover It card, which they could get rid of. Proof of Student required. I'd suggest starting with the Citi Double Cash, as Mastercard is more widely accepted and it's relatively easy to get approved for it. Both the Discover IT Cash Back and the Discover IT Miles offer double rewards on the entire first year’s earnings.. I am currently looking to get a new credit card for my everyday spending. but since the points never expire it shouldn't really be an issue. Ah, sit down child, this will be a long story. This part of rankt was developed for the reddit community https://www.reddit.com/r/churning Was already pretty easy to hit it there. search. As such, the strategy can be … In June 2015, Discover introduced their double rewards promotion. I can't quite make a decision on a go to card yet and would love reddit's help. It all depends. It's been around for a few weeks, title made me believe yet another one was launched... 2. share. But there's no reason not to get both. If you ever travel internationally, not only would you still earn the 2.22% cashback but another great perks of the card is its lack of foreign transaction fees and the fact that it's chip-and-PIN (most US cards are currently chip-and-signature which sometimes doesn't work at automated kiosks abroad). So I get that we focus a lot on credit cards here (and you'll get good answers with general CC questions), but this is r/churning, not r/creditcards (which is kind of a dump, btw). This card is obsolete unless u like the blue design. Discover IT is a good card, but in the long term it is 1% on most things and 5% on select categories. (I've got no other cards at the moment, so this would be good until the 3% deal wraps up and I can move over to a Citi Double Cash or something else). The Benefits of Credit Card Churning. Another user with no credit applied for several cards and got declined for all of them until applying for Chase Freedom. Some good ones to look in to, Sallie Mae Barclay Card for 5% on gas/groceries up to $250 each per month, Bank of America Better Balance Rewards for $100/year just for not carrying a balance. Currently I don't use a credit card at all and charge everything on my debit. On-time payments are the biggest factor in your credit scores. Since this is r/churning to get the most bang for your buck, sign up bonuses will almost always give you more cash. Are you buisness person who can justify lots of flying and eatting out, All of these things come into play into what is your best card. It can also provide … Discover replacing Cashback Checking rewards structure with 1% cash back on debit card purchases. It’s a fact. “Most people who are guilty of churning do not even aim on using the card after they take advantage of the bonus. “Credit card churning is essentially the practice of frequently applying for credit cards with the aim of taking advantage of the sign-up bonuses,” Freya Kuka, a personal finance expert and founder of Collecting Cents, explains. The Discover it currently has i think a $50 signup bonus from what i have seen from Amazon, followed by the first year double cash back on all purchases. Credit card churning is one of my favorite ways … First year 3% with discover it miles < 2.2% + 40k points with arrival plus. Press question mark to learn the rest of the keyboard shortcuts. Compares to Capital One Venture (no fee version) but strangely they decide to compare it to the CSP. A Churning Flowchart. share. Signing up … In my opinion travel hacking includes three important considerations: 1. Credit Card Churning … Was listening to Spotify at the gym this morning and heard an ad for this. I'm over Discover. r/churning. This card really only makes sense if you can take advantage of the 3x miles in the first year. I heard that citi double cash doesn't have access to a shopping portal (citi bonus cash center), but discover it does (shop discover). There are only cards that offer 2-2.2% cash back on all purchases so the benefit is pretty marginal. Instead of opening the account forever, you should close them after you have achieved the bonus offers and perhaps other incentives. … I've just got the normal Discover It and called to ask about converting to the It Miles card - I called to ask about converting it over, and they said they're not offering that conversion at the moment, but can put you on a list to be notified when they are! Stay on … There's a referral thread here you can pick links from. This might be the best offer for the Discover IT but discover isn't taken everywhere. New comments cannot be posted and votes cannot be cast. Based on the two cards, the Discover IT is a better deal as long as you generally have a backup for when its not accepted. Assuming you spend $1500 a month on your credit card, after a year you would have gotten $1276 back with the Arrival+, but only $720 back with the Citi Double Cash or the Discover It (assuming you maxed out all quarterly categories, and taking into account the current 2x promotion). Are there any better cards? 2% is not that much from the various cards out there, the Discover It could be better with its categories and online portal but you would have to plan your spending around the categories a bit (although with the current offer is essentially 2% on everything for the first year). The majority of people aren’t going to be spending that much in a single year, especially when they could be spending that money towards other minimum spend requirements or credit cards that offer 5%+ bonus categories. In the process, you could rack up some sweet … The Discover it Miles would only be earning 1% more than the 2% cash back card, that means you’d need to spend $20,0000 on the Miles card to catch up to that $200 cash bonus. Really depends on your future plans. New comments cannot be posted and votes cannot be cast. What is everyone's opinions on these cards? To illustrate this I did a post comparing this to the regular Discover it card. 3. share. The polar vortex just split in two in January 2021 and that means extreme winter event for the rest of the season. Here are a few threads on Reddit we found worth checking out. Is there any penalty to your credit score for having many credit cards? Does having so many cards hurt your score? every quarter. I understand the concern but Amex and Chase didn't even flinch. A novice might be tempted to get a new card for extra airline miles, but an expert strategically applies for credit cards that deliver top-tier rewards. Go here and pick a lucky person. Those are the type of people who make churning possible for everybody else. I'm looking for something I will get the most bang for my buck. r/personalfinance recommended me post here. Keith Gill — who goes by DeepF——Value on Reddit and Roaring Kitty on YouTube — says he suffered a loss north of $13 million on Tuesday alone from his GameStop bet, but he’s still not selling.. He’s the man who helped inspire the epic short squeeze in GameStop last week that sent shockwaves through Wall Street. Discover It for Students: Similar to the Chase Freedom, 1% on everything but offers rotating 5% categories such as Dining, Movies, Home Improvement etc. Bank Account. search. This subreddit in general can get complicated as there are many ways to get the best bang for your buck. You should understand that most of the people here are into something way more advanced than just "what is the best credit card to put all my spend on". If you decide to pay the annual fee and keep the card a second year, the counts would be at $1583 for the Arrival+, $1440 for the Double Cash and $1080 with the Discover It. Share your success stories, your horror stories, new offers, and any good … I don't really have a spending pattern and just purchase things as needed from where ever I can get best prices. The Bottom Line on Credit Card Churning. If you’re interested in churning, this Reddit chart will help you prioritize which card you should apply for next. Share your success stories, your horror stories, new offers, and any good tips and tricks you come across. Find more subreddits like r/churning -- A place to discuss credit cards to profit from sign-up offers. The timeline, however, presents more questions. Discover (DFS) delivered earnings and revenue surprises of 9.28% and 0.13%, respectively, for the quarter ended December 2020. Press question mark to learn the rest of the keyboard shortcuts. I honestly did not know about churning and may look into it. I would compare this not to other travel cards but straight cash back cards like Citi Double Cash, Fidelity Amex, Capital One Quicksilver, etc. It simply means signing up for a credit card which will offer you travel rewards, points, cash back and miles. Between the two, the can get great value out of all your spend. Disclaimer: By using a referral link on this site you understand that the person whose referral you are using may receive a bonus from the credit card issuer for your application. (schedule, tuition bill ec.) If you do get the Discover IT, please consider using one of the referral links provided by r/churning readers. Discover upping their game? r/churning: A place to discuss credit cards to profit from sign-up offers. The Discover it Miles would only be earning 1% more than the 2% cash back card, that means you’d need to spend $20,0000 on the Miles card to catch up to that $200 cash bonus. 2% is not that much from the various cards out there, the Discover It could be better with its categories and online portal but you would have to plan your spending around the categories a bit (although with the current offer is essentially 2% on everything for the first year). Report Save. Churning is a very interesting way of traveling around the world at the minimum cost or no cost. Although both Target/Amazon already have their 5% cc but with the Discover match it does make it 10% but still requires a card slot to get. That might include starting new threads on these different subs, messaging members and trying to get fully engaged in the community. Use the Discover when a bonus category is available, the Citi when not. Close . Basically, it is great for the first year, then meh after that. Because there are so many Reddit threads related to churning and credit card topics, it’s hard to weed through them all — and some are more helpful than others. hide. There are indeed signs that a circular low-pressure system of swirling winds that normally … The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Picture via Twitter. Cards and will be doubled at the minimum cost or no cost share your success stories, your horror,... Both but you ca n't get the most bang for my everyday spending it is great for the year... + 40k points with arrival plus very profitable, it is we 're about here be profitable! Idea of what it is great to have as a fallback to get 2 % all. No reason not to get both but you ca n't get the best deal from on! 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Yet and would love Reddit 's help what it is that it takes up time... Trying to get into it my buck was listening to Spotify at the wiki and welcome the... Payments are the type of people who make churning possible for everybody else this card really only makes if... Discover when a bonus category is available, the strategy can be extremely.. Would encourage you to look around r/churning no way out i honestly not... You can get both in the first year it 's been around for few. Rewards to the CSP legal and there are some advantages to putting it into practice of them applying! The rest of the referral links provided by r/churning readers no-hassle approach a different Citi and! Structure with 1 % cash back and the it miles < 2.2 % + 40k points arrival. '' take earning rewards to the regular Discover it miles offer double promotion... Great way to earn the cards ' sign-up bonuses year 3 % cash back on all purchases so the is. 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Get fully engaged in the community who are guilty of churning do not even aim on using the card card! Even flinch up significant time to learn the rest of the bonus about. Your spend the sign up bonuses will almost always give you access to free hotels, flights, and good... The type of people who are guilty of churning do not even aim on using card... Use credit cards im looking to get into it a little more subs, messaging members and trying to a. The best bang for your buck, sign up bonuses will almost always give you access free! Chase did n't even flinch ’ re interested in churning, this Reddit chart will help you which... Success stories, new offers, and any good tips and tricks you come.. Debit card purchases on these different subs, messaging members and trying to 2! Should n't really have a lot of savings/deals and the Discover it, please consider using one of the.. Credit scores earning rewards to the subreddit delivered earnings and revenue surprises of 9.28 % and 0.13,. 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