I know that the fees can be waived for the first year. But after that one must pay the fee. IMHO, it does not make sense to have too many CCs with annual fees.

I perfer to put all my spending on one or two cards in order to maximize the miles earned with the airlines I fly most often.

OJ, for every card you open you get the equivalent of a free flight. The minor ding to your credit score should be worth that.

IMHO, there are not too many mortgages being applied for, or gotten, these days. Perhaps when the Bush collapse is over this will change. But, it might be a while. :D

Meantime, gather ye miles while ye may. ^

Many people are unable to obtain mortgages because they have too many CCs and to much debt on said cards.

Of couse an offer by a CC may lead to a "free" trip, but that should not be the reason why someone obtains a CC.

Open Jaw, from http://www.myfico.com/CreditEducatio...YourScore.aspx

Have credit cards - but manage them responsibly. In general, having credit cards and installment loans (and paying timely payments) will raise your credit score. Someone with no credit cards, for example, tends to be higher risk than someone who has managed credit cards responsibly.

Having many credit cards does NOT mean you are in debt. Churning CCs is profitable if you pay in full ever month. Clearly you are not a fan, but it works for many of us. To each his own. :D

Schutzee, I agree with you completely. I just believe most people are not that responsible with their credit. The stats seem to prove that. The average American has about $8,000 in CC debt.

one time bonus offer for first time cardmembers only...
 

Earlier in this thread it was asked how you (productive churners) are getting multiple bonuses by churning if the application clearly states only one bonus per cardmember. How are you getting around that? Are the companies bad at keeping records?

I have 4 UA 30,000 direct mail offers in my desk and would be happy to churn them but they all say there is only one first time bonus and I have already done it once.

I appreciate your thoughts.

I'm glad you have an opinion on this matter, and that we now know it. However, you really don't need to keep replying against this activity in this thread. It has great benefits and great risks. One should understand both fully before undertaking this sort of behavior. I do it, but I don't really recommend it for anyone else.

OP,
Thx for sharing your successful methodology. I learned lots due your willingness to spell out your system. Many FTers are so secretive that a newbie can't figure out their jargon, let alone their "trick". I understand their paranoia is based in fear of losing their special advantage. I appreciate your openness.

They don't apply those rules. Chase & AMEX, however do. Chase used to allow churning but stopped in late 06. They are all aware of churning but let it happen.

OP can you tell us who sent the denial letters?

ALso since you joined FT only this sep, how did you know about churning and how many times did NW let you churn.

The Stats also have been rather consistent, that 50% of the cardholders pay in full every month, while the other 50% of the cardholders carry balances - some are much larger than the others, especially when you think about that 50% of the cardholders carry 0 balance.

Needless to say, the 50% cardholders have no problem using credit cards. Yours truly have not paid 1 penny of finance charge for 2 decades of card usage, fyi.

If you cannot handle CC spending and fearful of having more than a couple cards would tempt you to spend more than you can afford, then Yes, dont get extra CC. However, you really do not need to preach the peril of owning CCs because this thread is clearly not for that purpose. :)

Who is "They" . Isn't the UA card a Chase product? So can I churn it?

You can get as many UA cards as Chase approves you, but you will only get ONE bonus for each product (personal and business).

If you do a search on United card you would find quite a number of posts about this well-known bit of info.

I'm not impressed. Disputing inquiries is stupid. I have opened quite a few accounts since I filed for bankruptcy. I wish I wouldn't have burnt Amex. I really want a Delta skymiles card.