Originally Posted by
garykung
Many people are churning just because they can, not because they are in need of anything. So it is not a surprise that they over-do it. Over-doing usually has consequences (i.e. devaluations, restriction, blacklist, etc.) which Chase's 5/24 is definitely one of them.
I am not saying you should not churn. But instead of churn when you can, you should think if you really need and use that bonus, i.e. being responsible and optimizing your effort.
Many churners are in fact not frequent travelers, i.e. not travel enough. Most of them probably travel less than once or twice per year. In that case, why do you need a variety of miles/points when it is clear that you may not even have the use of them?
Despite how they are advertised and promoted by banks and bloggers, all miles/points have their own limitations.
I only churn 2 cards - 1 in odd years and another one in even years.
Totally agree here. A lot of people seem to churn just for the sake of it, and because it tends to catch on, banks end up clamping down and the rules change for everyone. Or not even just banks -- airlines then end up devaluing too many people have too many miles.
To me, it makes sense to go after the bonuses that suit your lifestyle and needs, no more and no less, and not what TPG or some such says you should go after.
As far as a Chase strategy, it's pretty clear cut. You either have to avoid applying for cards altogether until you satisfy 5/24, only apply for business cards which won't show on your personal CR, or just accept that Chase is off limits until/unless the rules change again. Don't think you are missing any ideas, because that's just the way it is for now.