Author Topic: Basics  (Read 12637 times)

Offline smiley face

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Basics
« 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

Offline DovidR

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Re: Basics
« Reply #1 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!

Offline bubbles

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Re: Basics
« Reply #2 on: October 08, 2011, 11:58:47 PM »
you guys 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
« Last Edit: October 09, 2011, 12:45:00 AM by bubbles »

Offline smiley face

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Re: Basics
« Reply #3 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?!?!

Offline DovidR

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Re: Basics
« Reply #4 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.

Offline bubbles

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Re: Basics
« Reply #5 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.

Offline DovidR

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Re: Basics
« Reply #6 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.

Offline DovidR

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Re: Basics
« Reply #7 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.

Offline bubbles

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Re: Basics
« Reply #8 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  :)

Offline DovidR

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Re: Basics
« Reply #9 on: October 09, 2011, 12:08:42 AM »
Try convincing someone to make a wiki page for beginners  :)
Sure. Where's AsherO?

Offline DovidR

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Re: Basics
« Reply #10 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

Offline smiley face

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Re: Basics
« Reply #11 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?

Offline AJK

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Re: Basics
« Reply #12 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.
2015: 116K bkd | 1.6M brnd | F: OZ,NH,AA,EK | J: UA,CA,TK,DL,TN,AF,VA | LIH,NRT,ROR,PEK,CNS,BOB,MEL,TLV & Pacific Hopper

Offline AJK

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Re: Basics
« Reply #13 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.
2015: 116K bkd | 1.6M brnd | F: OZ,NH,AA,EK | J: UA,CA,TK,DL,TN,AF,VA | LIH,NRT,ROR,PEK,CNS,BOB,MEL,TLV & Pacific Hopper

Offline bubbles

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Re: Basics
« Reply #14 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?

Offline smiley face

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Re: Basics
« Reply #15 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...?!?!

Offline bubbles

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Re: Basics
« Reply #16 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

Offline smiley face

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Re: Basics
« Reply #17 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 ;)

Offline Cbs

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Re: Basics
« Reply #18 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

Offline Cbs

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Re: Basics
« Reply #19 on: October 09, 2011, 12:40:22 AM »
you guys 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