Just an FYI on C.C. churning...
This is from the Frugal Travel Guy...
"...Many of you ask me about credit inquiries on your credit reports when you are considering applying for more credit cards for sign up bonuses. I gave you my current credit scores 708, 769 and 722. My corresponding number of inquiries still showing on my credit report and thereby negatively effecting my credit are 23, 9 and 18.
Inquiries are a negative, but not that severe. I guesstimate it is about 2 points per inquiry. If you pay your bills on time, keep your outstanding balances low in relation to your credit limit and have a decent mix of installment and revolving credit, you are capable of generating sign up bonuses. The number one reason people screw up their credit is LATE PAYMENTS and over extending themselves. If you can't make your current payments on time and have to carry balances, credit card sign ups are probably not for you."
Here is a link to his WEB site.
http://frugaltravelguy.blogspot.com/
Do a search for "churn". He has some really good info on churning and how it might effect you.