Credit card churning has become a popular phenomenon among savvy consumers looking to maximize their rewards and benefits. If you're a millennial ready to dive into the world of churning, then this blog post is for you! We'll guide you through the best credit cards for churning, along with the strategies and tips to make the most out of your rewards. Are you ready to supercharge your personal finances? Let's get started!
Best Credit Cards For Churning Table of Contents
What is Credit Card Churning?
Churning is the practice of opening multiple credit cards to take advantage of sign-up bonuses, rewards, and benefits. Once you've earned those sweet perks, you close the account (or let it sit idle) and move on to the next card. The goal is to maximize your rewards while minimizing costs and any potential impact on your credit score.
Best Credit Cards for Churning
We've compiled a list of the top credit cards suited for churning, taking into account factors such as sign-up bonuses, rewards categories, and annual fees. Keep in mind that this list is subject to change as credit card offers evolve, so always double-check the current terms and conditions when applying.
1. Chase Sapphire Preferred Card
- Sign-up bonus: 60,000 points after spending $4,000 within the first three months
- Rewards: 2x points on travel and dining, 1x point on all other purchases
- Annual fee: $95
2. American Express Gold Card
- Sign-up bonus: 35,000 points after spending $4,000 within the first three months
- Rewards: 4x points at restaurants and on the first $25,000 spent at US supermarkets, 3x points on flights booked directly with airlines or American Express Travel, 1x point on all other purchases
- Annual fee: $250
3. Citi Premier Card
- Sign-up bonus: 60,000 points after spending $4,000 within the first three months
- Rewards: 3x points on travel and at gas stations, 2x points on dining and entertainment, 1x point on all other purchases
- Annual fee: $95
4. Capital One Venture Rewards Card
- Sign-up bonus: 60,000 miles after spending $3,000 within the first three months
- Rewards: 2x miles on all purchases
- Annual fee: $95
5. Bank of America Premium Rewards Credit Card
- Sign-up bonus: 50,000 points after spending $3,000 within the first ninety days
- Rewards: 2x points on travel and dining, 1.5x points on all other purchases
- Annual fee: $95
Best Credit Cards For Churning Example:
Jeremy is new to credit card churning and wants to plan a trip to Europe. He starts by applying for the Chase Sapphire Preferred Card and meets the spending requirement within three months, earning him 60,000 bonus points. He then applies for the Capital One Venture Rewards Card, spending $3,000 in three months to secure another 60,000 miles. After maximizing the rewards from these cards, he redeems his points and miles to book a round trip flight and several nights of hotel stays in Europe, all while saving a significant amount of money.
That's it! We've shared our top picks for the best credit cards for churning, and now it's up to you to choose the right one (or multiple!) for your financial needs. Remember to always use credit responsibly and keep track of your applications, spending, and rewards. With smart churning strategies, you can make the most out of credit card offers and fuel your financial goals.
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