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DansDeals Forum => Credit Cards => Topic started by: smiley face on October 08, 2011, 11:53:55 PM

Title: Basics
Post by: smiley face on October 08, 2011, 11:53:55 PM
HI!
Since i am new here (first post!!), I am having trouble understanding many terms like churning :-\
Would someone be able to give me a crash course?! I already read all the post rules, FAQ's....
btw i love love this forum
Title: Re: Basics
Post by: DovidR on October 08, 2011, 11:56:43 PM
Churning is getting a credit card for the signup bonus, canceling it, and then applying again.... over and over.

I'm afraid that there isn't really a FAQ, though it would be helpful to many.

And... welcome!
Title: Re: Basics
Post by: bubbles on October 08, 2011, 11:58:47 PM
you guys (http://www.dansdeals.com/forums/index.php?topic=10520) should get together and work something out  ;D

churning is when you sign up for a cc for the sign up bonus and then cancel it and then reapply for the sign up bonus again
Title: Re: Basics
Post by: smiley face on October 09, 2011, 12:02:00 AM
thanks that makes things clearer!
does this hurt your credit score, closing and reopening?
btw do i have to do this verification thingy e/t i post something?!?!
Title: Re: Basics
Post by: DovidR on October 09, 2011, 12:04:07 AM
http://dansdeals.com/archives/15735 talks about what it does to your FICO score. The short answer is yes, but not long term.
Title: Re: Basics
Post by: bubbles on October 09, 2011, 12:04:25 AM
also to make it easier while you're trying to figure stuff out most questions can be answered with the search button or if that fails there is always google.
Title: Re: Basics
Post by: DovidR on October 09, 2011, 12:05:59 AM
also to make it easier while you're trying to figure stuff out most questions can be answered with the search button or if that fails there is always google.
True.
But I think we need a thread like this. Or at least, a real FAQ.
Title: Re: Basics
Post by: DovidR on October 09, 2011, 12:07:03 AM
BTW: You may want to ask the guys here about particular cards because not all cards are churnable, it seems.
Title: Re: Basics
Post by: bubbles on October 09, 2011, 12:07:12 AM
True.
But I think we need a thread like this. Or at least, a real FAQ.

Try convincing someone to make a wiki page for beginners  :)
Title: Re: Basics
Post by: DovidR on October 09, 2011, 12:08:42 AM
Try convincing someone to make a wiki page for beginners  :)
Sure. Where's AsherO?
Title: Re: Basics
Post by: DovidR on October 09, 2011, 12:10:56 AM
Someone else also asked about churning recently. For more info, check here: http://www.dansdeals.com/forums/index.php?topic=9.0
Title: Re: Basics
Post by: smiley face on October 09, 2011, 12:12:08 AM
e/o is so helpful here!
thinking of Saphirre Preffered, Freedom or one of the AMEX
what does spg stand for?
Title: Re: Basics
Post by: AJK on October 09, 2011, 12:12:52 AM
FYI, at least for some issuers, the previous card(s) do(es) not have to be cancelled to churn.
Title: Re: Basics
Post by: AJK on October 09, 2011, 12:13:34 AM
e/o is so helpful here!
thinking of Saphirre Preffered, Freedom or one of the AMEX
what does spg stand for?

Starwoods Preferred Guest.
Title: Re: Basics
Post by: bubbles on October 09, 2011, 12:15:18 AM
e/o is so helpful here!
thinking of Saphirre Preffered, Freedom or one of the AMEX
what does spg stand for?

Starwoods preferred guest. I'm going to guess that you're coming from the DD mainpage. Try doing a little more research before you start applying for cards

edit: why isn't it giving me the warnings that a new post has been made while I was typing?
Title: Re: Basics
Post by: smiley face on October 09, 2011, 12:16:59 AM
FYI, at least for some issuers, the previous card(s) do(es) not have to be cancelled to churn.
so how does tht work i call up and...?!?!
Title: Re: Basics
Post by: bubbles on October 09, 2011, 12:18:18 AM
All he means is that you reapply for certain cards and get the bonus even if you already have that card and haven't cancelled it
Title: Re: Basics
Post by: smiley face on October 09, 2011, 12:18:56 AM
Starwoods preferred guest. I'm going to guess that you're coming from the DD mainpage. Try doing a little more research before you start applying for cards

edit: why isn't it giving me the warnings that a new post has been made while I was typing?
cuz you responded at the same second ;)
Title: Re: Basics
Post by: Cbs on October 09, 2011, 12:38:38 AM
True.
But I think we need a thread like this. Or at least, a real FAQ.
+1 i think there should be a a "search thread" - because the problem with searching these days on DDF is (sometimes itll help) many times u need info and its hard to find with so many posts and threads. and sometimes if u write two words itll bring all the searches of both words seperetly. so in the thread if i would only ask if i couldnt find in search bar and if someone knew where it is - he'd post a link to it or quote.
what does spg stand for?
that u can find here (http://lmgtfy.com/?q=spg+credit+cards)
Title: Re: Basics
Post by: Cbs on October 09, 2011, 12:40:22 AM
you guys (http://www.dansdeals.com/forums/index.php?topic=10520.msg127897#msg127897) should get together and work something out  ;D
how did you direct the link to the bottom posts? when i link a page it goes to the top posts of that page
Title: Re: Basics
Post by: bubbles on October 09, 2011, 12:42:54 AM
how did you direct the link to the bottom posts? when i link a page it goes to the top posts of that page

actually didn't mean to that time but you just add in a # then the msg number. You can find the msg number by quoting the msg
Title: Re: Basics
Post by: Cbs on October 09, 2011, 12:52:51 AM
thanx! always wondered and never asked.
Title: Re: Basics
Post by: bubbles on October 09, 2011, 12:55:20 AM
no problem. what i learned is that whenever you have questions on how someone wrote something just quote that msg and you can see exactly what needs to be done
Title: Re: Basics
Post by: Cbs on October 09, 2011, 01:03:06 AM
that's what I did to know how hyperlink a word but this I didn't look
Title: Re: Basics
Post by: AsherO on October 09, 2011, 01:28:51 AM
Sure. Where's AsherO?

Now that's what I call flame-bait :P

If people can't browse/search (or have no common sense to figure out the answers to basic questions using those methods), I'm not going to spoon-feed them. Newbies learn, n00bs never mature and often morph into leaches or trolls (IMHO).
Title: Re: Basics
Post by: BAHayman on October 09, 2011, 01:39:52 AM
actually didn't mean to that time but you just add in a # then the msg number. You can find the msg number by quoting the msg

An easier way is to click on the title of the post (i.e. "Re: Basics") and then copy the link it takes you to...
Title: Re: Basics
Post by: Cbs on October 09, 2011, 03:18:07 AM
If people can't browse/search (or have no common sense to figure out the answers to basic questions using those methods), I'm not going to spoon-feed them. Newbies learn, n00bs never mature and often morph into leaches or trolls (IMHO).
which post are you responding to?
Title: Re: Basics
Post by: AsherO on October 09, 2011, 03:32:43 AM
which post are you responding to?
The one I quoted.

DovidR is suggesting that I should be the one compiling a beginners wiki (he was replying to Bubbles).
Title: Re: Basics
Post by: Cbs on October 09, 2011, 03:36:45 AM
oh i see. i agree. i thought u were saying in general (and regarding my post:)
i think there should be a a "search thread" - because the problem with searching these days on DDF is (sometimes itll help) many times u need info and its hard to find with so many posts and threads. and sometimes if u write two words itll bring all the searches of both words seperetly. so in the thread if i would only ask i couldnt find in search bar and if someone knew where it is - he'd post a link to it or quote it.
Title: Re: Basics
Post by: DovidR on October 09, 2011, 07:26:39 AM
The one I quoted.

DovidR is suggesting that I should be the one compiling a beginners wiki (he was replying to Bubbles).
It was tongue-in-cheek Asher, your impatience with newbies is legendary on these boards.
But I really think we should put together a real FAQ and sticky it.
Hey, you would be pestered less, right?
Dan probably agrees because his top thread says "and FAQ"
Title: Re: Basics
Post by: AJK on October 09, 2011, 11:14:43 AM
All he means is that you reapply for certain cards and get the bonus even if you already have that card and haven't cancelled it

Precisely.

cuz you responded at the same second ;)

No we didn't.
Title: Re: Basics
Post by: sky121 on October 09, 2011, 11:37:45 AM
What are the easiest cards available right now to apply for and reapply for when you still have the card?  Ones with the least amount of problems?
Title: Re: Basics
Post by: AJK on October 09, 2011, 11:44:08 AM
Citi AA has been a goldmine.
Title: Re: Basics
Post by: sky121 on October 09, 2011, 11:47:25 AM
Citi AA has been a goldmine.

Isn't there a really long wait time for reapplying?
Title: Re: Basics
Post by: AJK on October 09, 2011, 11:48:15 AM
Isn't there a really long wait time for reapplying?

Well, Dan has said that he churned the card in 60 days. (record making stuff, that)

But, yes, the consensus says to wait 18-24 months.