I love credit cards so much! v2.0 (see first page for add'l details)

[CyndiLouWho]

Yes - I primarily share these to just serve as a reminder that “you are not special” (translation: nobody should believe they are exempt from shut down). Luckily we don’t have anybody here trying to do anything too crazy or stupid.

I think folks here are pretty cautious and generally show common sense that isn’t common anymore. I’m glad you post here as fair warning and a gentle reminder not to get all crazy.

 

[Disneyonmymind]

I wait for the annual fee to post and then I call asking for a retention offer. I have gotten offered nothing so I call and close. I think the big thing though is all my spend pretty much has shifted to Amex. I MS MSRs. The Gold gets my restaurant and grocery purchases and BBP for everything else. I also have been getting offers on my other cards that I will use.

I want to keep Amex happy too, LOL. I have the SPG biz and recently got Hilton biz. While working the new MSR, I have shifted all my AMEX spend to Hilton. I think it’s important to keep using the SPG but I don’t know what amount would be enough $25, $50, $100 per month? I plan to keep the SPG biz another year as I believe I will be able to use the FN to justify the AF. I am going to avoid having a $0 month on the SPG but spend has dropped off drastically. Once I meet MSR, I can even it out more.

 

[elgerber]

If you’re at your 5 credit card limit, I’ve seen it recommended to go ahead and apply for credit card #6 (don’t cancel a card first and have that potentially count against you). You won’t be approved and will have to call in, but you know why. The rep will ask you to close a card to open a new one. Close the one you don’t want that’s over a year old.

Yep this has worked for me a couple of times

 

[usakiwi]

My 80K CIP bonus points are showing pending! My DH 20K referral points have been there for several days. I met the spend on 4/11 and the points posted today.

@amalone1013 On a different note, the Plastiq payments are still not showing as completed. Getting alittle nervous since these were tax payments sent on 4/11 and supposedly delivered on 4/15.

I’m really behind, as usual, so this may have been answered already. Plastiq FREQUENTLY is not up to date with their payment status descriptions. I’ve had many many instances where a payment has been deposited and it was days before they posted the payment as “deposited” or complete or whatever it says when I logged in. So I wouldn’t worry yet!

 

[kandb]

Just throwing this out there. If anyone likes to go to the horse races, Bonvoy has a really good deal during racing in the month of July/August at Saratoga Springs in NY. My husband goes every year and this year I am so happy to have the Marriott card. The hotels which are right in the town of Saratoga Springs are $300-400/night during racing season. With the bonvoy, they are 25K per night. There is a Courtyard and Residence Inn (full breakfast) and for 25K per night it is a great deal because the rates stay high. Right now, you can get almost any night on points.

 

[Lain]

Also - how about this:

Feb 2019: disapproved for CIU. Failed recon. I think it was mainly the 120k balance I am carrying on my CCs (0% or 2% interest)

Carrying 120k in CC balances??? Also denied in Feb but then come back in April and try for a CIP... sometimes I don’t understand people’s strategies (or lack thereof)...

Whoa... https://www.reddit.com/r/churning/comments/b2gues/question_thread_march_18_2019/eiuy2id/

 

[kandb]

```

 

[CyndiLouWho]

Whoa... https://www.reddit.com/r/churning/comments/b2gues/question_thread_march_18_2019/eiuy2id/

Crazy. Just...crazy. I like how he says “It’s complicated”. Makes me wonder if it’s really complicated...or just illegal.

 

[platamama]

Now, I know you dont earn points from stats booked through third parties, but can you at least earn night credits? I feel like I read that somewhere. His work books everything through hotels.com

I don't think he'll earn nights from hotels .com from the hotel chain, and he's not supposed to get any elite perks for the duration of the stay either. But he should be getting the 10th night free from hotels .com if they are booked through his hotels .com account.

 

[SouthFayetteFan]

Whoa... https://www.reddit.com/r/churning/comments/b2gues/question_thread_march_18_2019/eiuy2id/

Crazy. Just...crazy. I like how he says “It’s complicated”. Makes me wonder if it’s really complicated...or just illegal.

And then the comment saying they’ll hold off until August and try again....which apparently that plan lasted all of 2 months.

AND 31k out of their 50k Chase CL used up...I just can’t even process what goes through these people’s heads!!

And @CyndiLouWho - love your comment

 

[SouthFayetteFan]

This shutdown just keeps getting better...apparently he was also selling tradelines!!!

https://www.reddit.com/r/churning/comments/bexvhg/discussion_thread_april_19_2019/elbiauw/

For those that don’t know what that is:

Selling your card's tradeline (aka pay for piggyback) Selling a “seasoned” tradeline of credit used to be a common practice to help people with poor credit histories by adding them as an authorized user to a card with a stellar payment history.

​

 

[Lain]

This shutdown just keeps getting better...apparently he was also selling tradelines!!!

https://www.reddit.com/r/churning/comments/bexvhg/discussion_thread_april_19_2019/elbiauw/

For those that don’t know what that is:

Selling your card's tradeline (aka pay for piggyback) Selling a “seasoned” tradeline of credit used to be a common practice to help people with poor credit histories by adding them as an authorized user to a card with a stellar payment history.

​

This is classic bustout stuff!

 

[mmmears]

This shutdown just keeps getting better...apparently he was also selling tradelines!!!

https://www.reddit.com/r/churning/comments/bexvhg/discussion_thread_april_19_2019/elbiauw/

For those that don’t know what that is:

Selling your card's tradeline (aka pay for piggyback) Selling a “seasoned” tradeline of credit used to be a common practice to help people with poor credit histories by adding them as an authorized user to a card with a stellar payment history.

​

These updates are getting better and better. When you first posted I was worried our CIP2 could be a big mistake. But then as the story unfolds it seems like a second CIP can't be the reason...

 

[Lain]

Yep, sitting here refreshing my Reddit app and !

 

[afan]

For those that don’t know what that is:
Selling your card's tradeline (aka pay for piggyback) Selling a “seasoned” tradeline of credit used to be a common practice to help people with poor credit histories by adding them as an authorized user to a card with a stellar payment history.

This still doesn't explain it for me. What's a tradeline?

Cause I don't think I'm getting it right. To me this says I apply for x and get it with CL whatever then I sell you an AU card to have access to my CL and make good payments. Or is it the other way around. I have bad credit so I buy your AU cause you have awesome credit and it in turn helps me. Either way shady af.

 

[SouthFayetteFan]

My wife's CitiBiz AA statement closed today (her 2nd stmt)... and I can see the 40k Miles on the statement!! Nothing special here, it's her first AA biz card and she got the match on last month's statement. Just celebrating!!

Also - reminder...MOST statements will list the bonus points (just not AMEX). If you're wondering if you got your bonus on "this" statement...then just pull up the statement rather than waiting for them to transfer to the partner acount!! It's one of those common questions around here with a super easy answer.

 

[Lain]

This still doesn't explain it for me. What's a tradeline?

Cause I don't think I'm getting it right. To me this says I apply for x and get it with CL whatever then I sell you an AU card to have access to my CL and make good payments. Or is it the other way around. I have bad credit so I buy your AU cause you have awesome credit and it in turn helps me. Either way shady af.

Usually the latter.

 

[SouthFayetteFan]

This still doesn't explain it for me. What's a tradeline?

Cause I don't think I'm getting it right. To me this says I apply for x and get it with CL whatever then I sell you an AU card to have access to my CL and make good payments. Or is it the other way around. I have bad credit so I buy your AU cause you have awesome credit and it in turn helps me. Either way shady af.

So a tradeline is basically a credit account on your report. For purposes of this comment, they are any open credit card. Once you have a "seasoned" tradeline - typically 3+ years old I believe with no late payments you can sell it. One of these tradeline selling companies will find a buyer with poor credit (and typically do a background check on them) and then have you add them as an AU to your credit card account. The buyer doesn't know who you are and you get paid to do it. (Buyer pays company, company pays you). The benefit to the buyer is improved credit, the benefit to you is cash. I don't think it is illegal...but you're right, it's super SHADY. The concern of banks here is that people can artificially increase their score (typically there's a reason they have bad credit) and then qualify for a loan or card they otherwise wouldn't have been approved for and then of course DEFAULT.

A very strange practice indeed...but I can see how an entire industry has been formed around it...it probably works and works well.

 

[afan]

Usually the latter.

Wow that's crazy. Learned two things tonight, a new word and that people will both sell and buy that type of thing.

So a tradeline is basically a credit account on your report. For purposes of this comment, they are any open credit card. Once you have a "seasoned" tradeline - typically 3+ years old I believe with no late payments you can sell it. One of these tradeline selling companies will find a buyer with poor credit (and typically do a background check on them) and then have you add them as an AU to your credit card account. The buyer doesn't know who you are and you get paid to do it. (Buyer pays company, company pays you). The benefit to the buyer is improved credit, the benefit to you is cash. I don't think it is illegal...but you're right, it's super SHADY. The concern of banks here is that people can artificially increase their score (typically there's a reason they have bad credit) and then qualify for a loan or card they otherwise wouldn't have been approved for and then of course DEFAULT.

A very strange practice indeed...but I can see how an entire industry has been formed around it...it probably works and works well.

So they'd love my 20+ year discover acct haha. So if this guy is selling them on accts that were closed because of it I agree with @CyndiLouWho that he's probably doing something illegal to get his high 0 or 2% interest balances. Must be fun being a loan shark. Open CC, fund bank account, withdraw money, loan money, collect in August, rinse, repeat.

 

[SouthFayetteFan]

Wow that's crazy. Learned two things tonight, a new word and that people will both sell and buy that type of thing.



So they'd love my 20+ year discover acct haha. So if this guy is selling them on accts that were closed because of it I agree with @CyndiLouWho that he's probably doing something illegal to get his high 0 or 2% interest balances. Must be fun being a loan shark. Open CC, fund bank account, withdraw money, loan money, collect in August, rinse, repeat.

Oh yeah - your 20 yr old Discover Account might fetch $500+ given the bump that it would provide to somebody. Let us know how it works out HAHA!!