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Credit Card Advice

13

Comments

  • MelloDawg
    MelloDawg Member Posts: 6,917
    PurpleThrobber said:

    Mrs. Throbber's hobby is playing the credit card game. It's fucking unreal. There's like this cult following of how to scam the credit card companies for cash and airline points.

    Opens a card with X company, gets the promised cash, let's the card sit open for the prerequisite time and then closes it. Keeps the cash.

    Knows which cards give the most points for restaurants - so she uses Card A; some cards give more points for groceries - Card B. It's crazy.

    We haven't paid for a hotel room in probably 3 years. Almost always fly first class because, well, shit, we didn't pay for the tickets in the first place.

    So, basically what I said to do. She is a good churner, it's called churning. No need to close the accounts though, just keep them at a zero balance.
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  • 1to392831weretaken
    1to392831weretaken Member Posts: 7,696
    Doog_de_Jour said:

    PurpleThrobber said:

    Mrs. Throbber's hobby is playing the credit card game. It's fucking unreal. There's like this cult following of how to scam the credit card companies for cash and airline points.

    Opens a card with X company, gets the promised cash, let's the card sit open for the prerequisite time and then closes it. Keeps the cash.

    Knows which cards give the most points for restaurants - so she uses Card A; some cards give more points for groceries - Card B. It's crazy.

    We haven't paid for a hotel room in probably 3 years. Almost always fly first class because, well, shit, we didn't pay for the tickets in the first place.

    Speaking as someone who has kept the same card for 20+ years, how do you get away with that? I keep wondering if switching to something with better perks would be a good move, but I’m lazy.
    I have never found a card with a better rate than mine, so I've never given a thought to switching. That the card is through the credit union I bank with anyway, that's also a bonus.
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  • MelloDawg
    MelloDawg Member Posts: 6,917
    1to392831weretaken said:

    Doog_de_Jour said:

    PurpleThrobber said:

    Mrs. Throbber's hobby is playing the credit card game. It's fucking unreal. There's like this cult following of how to scam the credit card companies for cash and airline points.

    Opens a card with X company, gets the promised cash, let's the card sit open for the prerequisite time and then closes it. Keeps the cash.

    Knows which cards give the most points for restaurants - so she uses Card A; some cards give more points for groceries - Card B. It's crazy.

    We haven't paid for a hotel room in probably 3 years. Almost always fly first class because, well, shit, we didn't pay for the tickets in the first place.

    Speaking as someone who has kept the same card for 20+ years, how do you get away with that? I keep wondering if switching to something with better perks would be a good move, but I’m lazy.
    I have never found a card with a better rate than mine, so I've never given a thought to switching. That the card is through the credit union I bank with anyway, that's also a bonus.
    I don't know why people here aren't just paying for things in gold. Frankly, this nation has been on a path to destruction ever since it left the gold standard and we should all look forward to the day when the God Emperor is coronated again on March 4th, the true inauguration day.
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  • GreenRiverGatorz
    GreenRiverGatorz Member Posts: 10,168
    Doog_de_Jour said:

    PurpleThrobber said:

    Mrs. Throbber's hobby is playing the credit card game. It's fucking unreal. There's like this cult following of how to scam the credit card companies for cash and airline points.

    Opens a card with X company, gets the promised cash, let's the card sit open for the prerequisite time and then closes it. Keeps the cash.

    Knows which cards give the most points for restaurants - so she uses Card A; some cards give more points for groceries - Card B. It's crazy.

    We haven't paid for a hotel room in probably 3 years. Almost always fly first class because, well, shit, we didn't pay for the tickets in the first place.

    Speaking as someone who has kept the same card for 20+ years, how do you get away with that? I keep wondering if switching to something with better perks would be a good move, but I’m lazy.
    It's becoming more difficult as banks have started to disincentivize churning. That many hard inquiries will also hurt your credit score, so it's a balancing act. But those who play it right can take advantage of numerous bonus offers a year and rack up miles in a hurry.
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  • whlinder
    whlinder Member Posts: 5,388
    MelloDawg said:

    PurpleThrobber said:

    Mrs. Throbber's hobby is playing the credit card game. It's fucking unreal. There's like this cult following of how to scam the credit card companies for cash and airline points.

    Opens a card with X company, gets the promised cash, let's the card sit open for the prerequisite time and then closes it. Keeps the cash.

    Knows which cards give the most points for restaurants - so she uses Card A; some cards give more points for groceries - Card B. It's crazy.

    We haven't paid for a hotel room in probably 3 years. Almost always fly first class because, well, shit, we didn't pay for the tickets in the first place.

    So, basically what I said to do. She is a good churner, it's called churning. No need to close the accounts though, just keep them at a zero balance.
    I've played that game too; it can be worth it but you need someone like Mrs. Throbber to keep close tabs on the cards. Back in the day would run massive business expenses for my mom's company through my card while living in her basement and rack up 100K in expenses (and therefore points plus bonuses) without blinking.

    I don't play it much anymore since the benefits have been cut and the hoops to jump through are more complicated. Just go ahead and use my Fidelity 2% cash back on everything card and not worry about all the other shizz.
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  • HHusky
    HHusky Member Posts: 24,343
    whlinder said:

    MelloDawg said:

    PurpleThrobber said:

    Mrs. Throbber's hobby is playing the credit card game. It's fucking unreal. There's like this cult following of how to scam the credit card companies for cash and airline points.

    Opens a card with X company, gets the promised cash, let's the card sit open for the prerequisite time and then closes it. Keeps the cash.

    Knows which cards give the most points for restaurants - so she uses Card A; some cards give more points for groceries - Card B. It's crazy.

    We haven't paid for a hotel room in probably 3 years. Almost always fly first class because, well, shit, we didn't pay for the tickets in the first place.

    So, basically what I said to do. She is a good churner, it's called churning. No need to close the accounts though, just keep them at a zero balance.


    Just go ahead and use my Fidelity 2% cash back on everything card and not worry about all the other shizz.
    Ditto
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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,558 Standard Supporter
    Doog_de_Jour said:

    PurpleThrobber said:

    Mrs. Throbber's hobby is playing the credit card game. It's fucking unreal. There's like this cult following of how to scam the credit card companies for cash and airline points.

    Opens a card with X company, gets the promised cash, let's the card sit open for the prerequisite time and then closes it. Keeps the cash.

    Knows which cards give the most points for restaurants - so she uses Card A; some cards give more points for groceries - Card B. It's crazy.

    We haven't paid for a hotel room in probably 3 years. Almost always fly first class because, well, shit, we didn't pay for the tickets in the first place.

    Speaking as someone who has kept the same card for 20+ years, how do you get away with that? I keep wondering if switching to something with better perks would be a good move, but I’m lazy.
    It's like a soduko puzzler for her. She has spreadsheets and all sorts of shit to track this. I think she may even subscribe to a credit card perks website to get all the latest strategies.

    Ask her next time you are cuddling.

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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,558 Standard Supporter
    whlinder said:

    MelloDawg said:

    PurpleThrobber said:

    Mrs. Throbber's hobby is playing the credit card game. It's fucking unreal. There's like this cult following of how to scam the credit card companies for cash and airline points.

    Opens a card with X company, gets the promised cash, let's the card sit open for the prerequisite time and then closes it. Keeps the cash.

    Knows which cards give the most points for restaurants - so she uses Card A; some cards give more points for groceries - Card B. It's crazy.

    We haven't paid for a hotel room in probably 3 years. Almost always fly first class because, well, shit, we didn't pay for the tickets in the first place.

    So, basically what I said to do. She is a good churner, it's called churning. No need to close the accounts though, just keep them at a zero balance.
    I've played that game too; it can be worth it but you need someone like Mrs. Throbber to keep close tabs on the cards. Back in the day would run massive business expenses for my mom's company through my card while living in her basement and rack up 100K in expenses (and therefore points plus bonuses) without blinking.

    I don't play it much anymore since the benefits have been cut and the hoops to jump through are more complicated. Just go ahead and use my Fidelity 2% cash back on everything card and not worry about all the other shizz.
    I'm watching porn on my laptop every night - she's over there gaming the system on her laptop. Or at least that's what she says she'd doing.

    @Doog_de_Jour - is Mrs. Throbber v2.0 watching porn too?!?

    NTTAWWT

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  • RoadDawg55
    RoadDawg55 Member Posts: 30,413 Standard Supporter
    edited March 2021
    HuskyJW said:

    You should only have a credit card if you have $200K in the bank. Live like a pauper for 80% of your life so you can enjoy the last 20

    This seems like such stupid advice. Sure, you need money when you’re old, but wouldn’t you enjoy spending a lot more in your younger years?
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