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Thread: HSN junkie

  1. #46
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    Quote Originally Posted by loboheeler View Post
    My credit reports are almost blank sheets, so getting a credit card is not very possible at a reasonable cost.
    My credit reports are quite extensive. I have excellent FICO score, always paid my bills on time and in full, never carry a balance. I "churn" credit cards for the sign-up bonuses. They typically give $150-$200 if you get a new card and spend $500-$1000 in the first 90 days. Each year, I open 5 new cards and close 5 old ones. I can usually get $800-$1000 a year, tax free (credit card bonuses are not income-taxable). There are enough card issuers that after 2-3 years I loop back to the earlier cards and start all over again.

    Recently, I started churning checking accounts. There are many banks that give you $200-$600 if you open a new checking and/or saving account, park some money in there or set up direct deposits (there are ways around that), or make some debit card transactions. I've got $2000 in sign-up bonuses in the last 6 months, I'll close all of those accounts at the end of the year. The bank bonuses take a longer wait to repeat, and are income-taxable though.

  2. #47
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    Quote Originally Posted by Lisme View Post
    If you can manage two accounts, more power to you. One account is enough of a headache for me. There seem to be so many things to futz around with when one has a household.
    Online banking is so easy that I don't mind closely monitoring my 3 accounts. Fail at a store purchase? 5 minutes to fix on the phone app. You can check balances anytime anywhere. This is SO much easier than the old way of constant ledger book entries and reconciliation!

  3. #48
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    Quote Originally Posted by Coyote Chris View Post
    Anyone older than 70 years and 3 months! Week hands, week knees, week brains.
    Forgets things going to basement. Leaves potatos in microwave and eats eggs alone.....
    Old timers desease. My friesta 2 was hard to find and press the button through the case.
    Here is a guaranteed old person.
    Ha ha, I was envisioning a big hairy bubba biker.

    I am "only" 66 and I cannot afford mental decrepitude. Being nuts is obviously OK, though.

  4. #49
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    "Decrepitude". Gotta remember that one. I'm 64.

  5. #50
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    Quote Originally Posted by hpham View Post
    My credit reports are quite extensive. I have excellent FICO score, always paid my bills on time and in full, never carry a balance. I "churn" credit cards for the sign-up bonuses. They typically give $150-$200 if you get a new card and spend $500-$1000 in the first 90 days. Each year, I open 5 new cards and close 5 old ones. I can usually get $800-$1000 a year, tax free (credit card bonuses are not income-taxable). There are enough card issuers that after 2-3 years I loop back to the earlier cards and start all over again.

    Recently, I started churning checking accounts. There are many banks that give you $200-$600 if you open a new checking and/or saving account, park some money in there or set up direct deposits (there are ways around that), or make some debit card transactions. I've got $2000 in sign-up bonuses in the last 6 months, I'll close all of those accounts at the end of the year. The bank bonuses take a longer wait to repeat, and are income-taxable though.
    Good heavens, that's a lot of work. I can't stand seeing even one task on my desk.

    My credit report has like three boring things on it. It's so "thin" that it makes the score go down.

  6. #51
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    Quote Originally Posted by Lisme View Post
    Good heavens, that's a lot of work. I can't stand seeing even one task on my desk.
    I'm retired, have plenty of time on my hands, I like to deal with numbers, and find "good deals". A good fit for me.

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    Quote Originally Posted by hpham View Post
    I'm retired, have plenty of time on my hands, I like to deal with numbers, and find "good deals". A good fit for me.
    And that is why many of us stick with TF. We enjoy fiddling with the numbers and see if we can find a hidden gem by adding certain cards with certain add-ons, then using a certain promo code...

  8. #53
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    Duplicated.

  9. #54
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    Quote Originally Posted by loboheeler View Post
    Good point about accounts with auto-pay. Most use a card number
    Auto-pay stuff is once a month stuff not day-to-day.

  10. #55
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    Quote Originally Posted by Lisme View Post
    The big guys might have had PINs forced on them due to big ticket fraud.
    Don't know there. I just remember either signing or PIN with the card when they started.

    Then with the new chipped cards nearly all are PIN and few signatures. Save exceptions like fast food (and I remember signing at those places)


    If you can manage two accounts, more power to you. One account is enough of a headache for me. There seem to be so many things to futz around with when one has a household.
    Two? That just the routine stuff. There are other accounts too.


    But not much to manage. Or takes no longer to manage one big account vs the 2.
    The day to day account has all the random purchases. The other has the planned/monthly stuff and a few transfers to other account.

    All told 30 minutes to verify bank amounts with my record.

  11. #56
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    hpham, you're just a simple old-fashioned Kansas country boy (who happens to like complicated schemes)!

  12. #57
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    Quote Originally Posted by hpham View Post
    My credit reports are quite extensive. I have excellent FICO score, always paid my bills on time and in full, never carry a balance. I "churn" credit cards for the sign-up bonuses. They typically give $150-$200 if you get a new card and spend $500-$1000 in the first 90 days. Each year, I open 5 new cards and close 5 old ones. I can usually get $800-$1000 a year, tax free (credit card bonuses are not income-taxable). There are enough card issuers that after 2-3 years I loop back to the earlier cards and start all over again.

    Recently, I started churning checking accounts. There are many banks that give you $200-$600 if you open a new checking and/or saving account, park some money in there or set up direct deposits (there are ways around that), or make some debit card transactions. I've got $2000 in sign-up bonuses in the last 6 months, I'll close all of those accounts at the end of the year. The bank bonuses take a longer wait to repeat, and are income-taxable though.
    Wow. I am impressed! I think the Fico algorithm has changed. Used to be open and close too many credit cards and your FICO dropped and your car insurance rates, et al increased...I will have to look up this Churning thing.

  13. #58
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    Quote Originally Posted by Coyote Chris View Post
    I think the Fico algorithm has changed. Used to be open and close too many credit cards and your FICO dropped and your car insurance rates, et al increased...I will have to look up this Churning thing.
    Opening and closing too many credit cards still ding your FICO score somewhat, I think about 5-10 points each. But the score will recover after a few months. My FICO score is around 790. Even with a reduction of 50 points, I'm still in the Very Good rating. After 12 months, it'll be back to 790 again, and I start the cycle over.

    Take a look at THIS SITE . It lists all the deals on credit cards and bank accounts, with tips on the Do's and Don'ts.

  14. #59
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    Quote Originally Posted by whacker View Post
    hpham, you're just a simple old-fashioned Kansas country boy (who happens to like complicated schemes)!
    I jokingly tell my friends that I'm a Vietnamese Jew (no offense intended to anyone).

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    Quote Originally Posted by hpham View Post
    I jokingly tell my friends that I'm a Vietnamese Jew (no offense intended to anyone).
    You gotta start somewhere.

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