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Topic	just paid $22.40 for 2 business class tickets to South Korea.
_BlueMonk 10/10/17 3:19:53 PM #19:	Muffinz0rz posted... How exactly does churning work then? I mean, I get the signup bonuses in the short-term, but is it really worth negatively impacting your credit score in the long-term? And isn't keeping track of 10 cards a huge pain in the ass? I've only had one credit card and I'm at 768. most times, the credit cards will boost your score, especially in the long term. more accounts is better on a report, and so is the added credit limits (lowering your utilization). the only negative things are the average age of accounts, and the hard pulls. but obviously, the longer you have the cards, the better your age is, and the hard pulls stop mattering after a couple months and fall off after 2 years. in 5-10 years, my score is gonna be amazing cuz ill have a SOLID base of accounts in good standing. banks trust people with more accounts than few accounts, cuz it shows you know how to manage credit (granted i dont mess up). it can be a hassle, but i use Mint.com to view all my accounts and budget them. i also use my own excel spreadsheets to manage everything. it can be a hassle, but hey, i got a 16k flight for free for what, 10 minutes of math a week/month. my gf has 1 card and a 760ish score. she can't get approved for premium cards cuz banks see her one card, her limited history, and go no thanks. but me, with fucking 18 missed payments on my account but 5 years of history and 10 accounts and they're just throwing cards at me. its weird. the way i see it, a good score is a tool. why have a 850 score but be too afraid to open a new account. use it! obviously if you're going to buy a house soon, maybe take a break, but in the mean time go until you start getting denied and wait for it to recover. thats what im doing. barclay decided ive had too many and denied me, so i took this as a sign to let my score recover. but then i got 2 more cards. oops. but i didn't get a hard pull for these accounts so yay lol. --- One in a Million, TWICE! Dahyun is BEST. <cite>_BlueMonk posted [p:888177300] in just paid ... [t:75864607]...</cite> <quote><cite>Muffinz0rz posted...</cite> <quote>How exactly does churning work then? I mean, I get the signup bonuses in the short-term, but is it really worth negatively impacting your credit score in the long-term? And isn't keeping track of 10 cards a huge pain in the ass? I've only had one credit card and I'm at 768.</quote> most times, the credit cards will boost your score, especially in the long term. more accounts is better on a report, and so is the added credit limits (lowering your utilization). the only negative things are the average age of accounts, and the hard pulls. but obviously, the longer you have the cards, the better your age is, and the hard pulls stop mattering after a couple months and fall off after 2 years. in 5-10 years, my score is gonna be amazing cuz ill have a SOLID base of accounts in good standing. banks trust people with more accounts than few accounts, cuz it shows you know how to manage credit (granted i dont mess up). it can be a hassle, but i use Mint.com to view all my accounts and budget them. i also use my own excel spreadsheets to manage everything. it can be a hassle, but hey, i got a 16k flight for free for what, 10 minutes of math a week/month. my gf has 1 card and a 760ish score. she can't get approved for premium cards cuz banks see her one card, her limited history, and go no thanks. but me, with fucking 18 missed payments on my account but 5 years of history and 10 accounts and they're just throwing cards at me. its weird. the way i see it, a good score is a tool. why have a 850 score but be too afraid to open a new account. use it! obviously if you're going to buy a house soon, maybe take a break, but in the mean time go until you start getting denied and wait for it to recover. thats what im doing. barclay decided ive had too many and denied me, so i took this as a sign to let my score recover. but then i got 2 more cards. oops. but i didn't get a hard pull for these accounts so yay lol. --- One in a Million, TWICE! Dahyun is BEST.</quote> ... Copied to Clipboard!
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