Author Topic: Bank account churning: how to make $1600 in a year by being organized  (Read 37261 times)

marshdesign

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #200 on: August 08, 2017, 05:13:03 PM »
not sure if this was mentioned before but r/churning is a great spam free resource for finding bank and credit card deals on Reddit.
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sr79

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #201 on: August 10, 2017, 09:50:34 PM »
Just looked at my spreadsheet of bank bonuses and the wife and I are up a cumulative $4000 with a few hundred pending this year so far before taxes. Got to love DoC!

How did you manage such a high total? The bonuses I see are typically around 300 dollars max, meaning you would need around 13 bank accounts/ card bonuses to hit 4k between the both of you. How did you find so many and how did the constant credit pulls not hurt your credit score?

Paul der Krake

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #202 on: August 11, 2017, 12:43:37 AM »
Just looked at my spreadsheet of bank bonuses and the wife and I are up a cumulative $4000 with a few hundred pending this year so far before taxes. Got to love DoC!

How did you manage such a high total? The bonuses I see are typically around 300 dollars max, meaning you would need around 13 bank accounts/ card bonuses to hit 4k between the both of you. How did you find so many and how did the constant credit pulls not hurt your credit score?
Bank accounts usually don't do hard pulls. And even if they did, 6/7 inquiries isn't enough to do any real damage to a score.

rageth

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #203 on: August 11, 2017, 08:11:09 AM »
Just looked at my spreadsheet of bank bonuses and the wife and I are up a cumulative $4000 with a few hundred pending this year so far before taxes. Got to love DoC!

How did you manage such a high total? The bonuses I see are typically around 300 dollars max, meaning you would need around 13 bank accounts/ card bonuses to hit 4k between the both of you. How did you find so many and how did the constant credit pulls not hurt your credit score?
Bank accounts usually don't do hard pulls. And even if they did, 6/7 inquiries isn't enough to do any real damage to a score.

^This.  I've opened 19 accounts for us since February, and only 1 was a hard pull.  The one hard pull was for Charles Schwab because it required opening a brokerage account along with checking, but that account is one that I'm going to keep because far and away the best account for international travel.  I found all of this information thanks to Doctor of Credit.  Doctor of Credit is a wealth of information about which banks are ChexSystems-sensitive, which aren't, which do hard pulls, which can be funded via CC, etc.

CanuckExpat

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #204 on: August 11, 2017, 08:54:56 AM »
They will sometimes do a credit report pull in relation to overdraft. You should decline overdraft whenever you have the option
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dpc

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #205 on: August 17, 2017, 08:34:46 AM »
Since you guys are the experts on this stuff, I'm hoping you can take a look at my post:

https://forum.mrmoneymustache.com/share-your-badassity/swingin-for-the-fences-first-at-bat-can-you-coach-me-(learning-to-churn-acct)