Author Topic: Bank account churning: how to make $1600 in a year by being organized  (Read 274151 times)

jim555

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #850 on: April 27, 2021, 01:50:20 PM »
Got a new one from Citizens Bank today, open checking and a $500 Direct Deposit, open savings and $15,000, get $600 in 3 months.

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #851 on: April 30, 2021, 09:32:41 AM »
Got a new one from Citizens Bank today, open checking and a $500 Direct Deposit, open savings and $15,000, get $600 in 3 months.

I've been churning Citizens accounts for 4 years now. Think I am up to 8 bonuses in 2 player mode. They used to payout quickly. Expect to wait several months for payout.

Morning Glory

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #852 on: May 21, 2021, 04:01:00 PM »
Would anyone like to PM me a referral for the Capital One Venture with the 100,000 miles offer?

v8rx7guy

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #853 on: May 21, 2021, 04:09:25 PM »
Finally got my Citibank $700 applied to my account woo hoo!

Morning Glory

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #854 on: May 21, 2021, 04:41:38 PM »
Finally got my Citibank $700 applied to my account woo hoo!

How did that one go for you? I normally don't have that much cash but I'm selling my house and planning to keep 50k in cash for the down payment on the next one.

bacchi

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #855 on: May 21, 2021, 05:34:19 PM »
I signed up for the Chase $750 account bonus but was bounced. I'm still waiting on the rejection letter and expect to have to go into the branch. Their online form is all kinds of messed up so beware.

That failure led to my application for the BoA Business Cash Rewards $750 card. Received that and I'm looking at the Ink Unlimited $750 card next.

katsiki

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #856 on: May 22, 2021, 09:11:01 PM »
I signed up for the Chase $750 account bonus but was bounced. I'm still waiting on the rejection letter and expect to have to go into the branch. Their online form is all kinds of messed up so beware.

Are you referring to the targeted business checking offer?  I got that one in the mail recently and am planning to do it.

bacchi

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #857 on: May 23, 2021, 09:32:25 AM »
I signed up for the Chase $750 account bonus but was bounced. I'm still waiting on the rejection letter and expect to have to go into the branch. Their online form is all kinds of messed up so beware.

Are you referring to the targeted business checking offer?  I got that one in the mail recently and am planning to do it.

Right. Check out the doctorofcredit comments about it. I have an EIN and an already existing business card and was denied.

Duke03

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #858 on: May 23, 2021, 12:07:44 PM »
I signed up for the Chase $750 account bonus but was bounced. I'm still waiting on the rejection letter and expect to have to go into the branch. Their online form is all kinds of messed up so beware.

That failure led to my application for the BoA Business Cash Rewards $750 card. Received that and I'm looking at the Ink Unlimited $750 card next.

Do you have an EIN?  More importantly did you enter it on the application?

katsiki

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #859 on: May 23, 2021, 09:05:19 PM »
I signed up for the Chase $750 account bonus but was bounced. I'm still waiting on the rejection letter and expect to have to go into the branch. Their online form is all kinds of messed up so beware.

Are you referring to the targeted business checking offer?  I got that one in the mail recently and am planning to do it.

Right. Check out the doctorofcredit comments about it. I have an EIN and an already existing business card and was denied.

Thanks.  Will check that out.

bacchi

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #860 on: May 23, 2021, 09:37:22 PM »
I signed up for the Chase $750 account bonus but was bounced. I'm still waiting on the rejection letter and expect to have to go into the branch. Their online form is all kinds of messed up so beware.

That failure led to my application for the BoA Business Cash Rewards $750 card. Received that and I'm looking at the Ink Unlimited $750 card next.

Do you have an EIN?  More importantly did you enter it on the application?

Yes and my LLC has been around for over a decade. There's no chex inquiry for the Chase biz account and it's a soft pull. Shrug.

I received a decent Spark Cash $500 offer yesterday. Given CapOne's pickiness, I may pass.

katsiki

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #861 on: May 24, 2021, 09:56:53 AM »
I signed up for the Chase $750 account bonus but was bounced. I'm still waiting on the rejection letter and expect to have to go into the branch. Their online form is all kinds of messed up so beware.

That failure led to my application for the BoA Business Cash Rewards $750 card. Received that and I'm looking at the Ink Unlimited $750 card next.

Do you have an EIN?  More importantly did you enter it on the application?

Yes and my LLC has been around for over a decade. There's no chex inquiry for the Chase biz account and it's a soft pull. Shrug.

I received a decent Spark Cash $500 offer yesterday. Given CapOne's pickiness, I may pass.

@bacchi  Did you apply in the branch or online?  thanks for any further info.  The doc comments are pretty muddled :)

bacchi

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #862 on: May 24, 2021, 11:11:07 AM »
I signed up for the Chase $750 account bonus but was bounced. I'm still waiting on the rejection letter and expect to have to go into the branch. Their online form is all kinds of messed up so beware.

That failure led to my application for the BoA Business Cash Rewards $750 card. Received that and I'm looking at the Ink Unlimited $750 card next.

Do you have an EIN?  More importantly did you enter it on the application?

Yes and my LLC has been around for over a decade. There's no chex inquiry for the Chase biz account and it's a soft pull. Shrug.

I received a decent Spark Cash $500 offer yesterday. Given CapOne's pickiness, I may pass.

@bacchi  Did you apply in the branch or online?  thanks for any further info.  The doc comments are pretty muddled :)

@katsiki  Online. It would ask me to login, kick me back to the partially erased form, and then repeat.

I'll go into the branch this week to appeal/recon.

katsiki

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #863 on: May 24, 2021, 02:37:43 PM »
Thanks!  I plan to do in branch.  Fingers crossed.

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #864 on: May 25, 2021, 05:06:17 AM »
I signed up for the Chase $750 account bonus but was bounced. I'm still waiting on the rejection letter and expect to have to go into the branch. Their online form is all kinds of messed up so beware.

That failure led to my application for the BoA Business Cash Rewards $750 card. Received that and I'm looking at the Ink Unlimited $750 card next.

Do you have an EIN?  More importantly did you enter it on the application?

Yes and my LLC has been around for over a decade. There's no chex inquiry for the Chase biz account and it's a soft pull. Shrug.

I received a decent Spark Cash $500 offer yesterday. Given CapOne's pickiness, I may pass.

@bacchi  Did you apply in the branch or online?  thanks for any further info.  The doc comments are pretty muddled :)

@katsiki  Online. It would ask me to login, kick me back to the partially erased form, and then repeat.

I'll go into the branch this week to appeal/recon.

I have a legit LLC and have opened the Chase Biz checking a couple times online successfully. I tried to open for my spouse, who just has an EIN, but the online application just goes in circles, kind of like what you stated above. Seems to be a matter of business structure.

EliteZags

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #865 on: July 28, 2021, 10:49:03 PM »
not a bank bonus but if you don't already have a Rakuten (formerly Ebates) acct you can make an easy $30 signup bonus just by clicking through Rakuten to get to your next online purchase from nearly any store site for varying levels of cash back on the purchase

my lifetime cash back is over $400 and I don't make big online purchases very often

signup bonus link: https://www.rakuten.com/r/JOEYSZ2?eeid=28187
« Last Edit: July 28, 2021, 10:51:04 PM by EliteZags »

sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #866 on: July 29, 2021, 12:12:18 PM »
I also got turned down for the Chase Ink biz account online, since the nearest branch is 45 minutes away I passed
US Bank biz card received $875 statement credit on $7647.00 in spending, minus approx$150 in fees. Putting this one away.
Just opened Chase Sapphire Preferred, offer is 100,000 points (worth $1,000) for $4,000 in spend.
Opened Monifi bank account online for $200 bonus for $2,000 deposited.
Next is Amex Cash Magnet cc, $200 bonus for $1,000 spend, but the kicker is a $2,000 additional bonus to Amex card for completing a re fi with Better. This offer works for many Amex cards, I chose the Cash Magnet for the zero fees, plus a decent bonus that is pretty easy to reach.

Dicey

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #867 on: July 29, 2021, 12:50:55 PM »
Posting to join the crowd. To avoid exceeding FDIC limits, we're going to have to open a couple of temporary accounts because of...reasons. I might as well make a little bonus money for my troubles. I need to start doing this right away before DH retires so we can handle the direct deposit requirements.

Looking forward to reporting back on our successes.

bacchi

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #868 on: July 29, 2021, 01:28:26 PM »
Forgot about this thread.

Re: Chase business $750 -- I went to the branch, they apologized for the online screwiness, and now I'm waiting for the bonus.

Player 2 applied for the CSP -- 100k UR points for a $4000 spend (probably will use it for $1250 in cash back).

A drawn-out re-fi attempt hammered my credit score so I'm waiting another 2 weeks for it to recover. Then on to the Ink.

elysianfields

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #869 on: August 03, 2021, 05:55:07 AM »
Posting to join the crowd. To avoid exceeding FDIC limits, we're going to have to open a couple of temporary accounts because of...reasons. I might as well make a little bonus money for my troubles. I need to start doing this right away before DH retires so we can handle the direct deposit requirements.

Looking forward to reporting back on our successes.

@Dicey if you have so much cash rolling around that you're hitting FDIC limits - $250k per depositor per bank per ownership category - don't you want to invest it in index funds or additional real estate?  Though you probably have a hard time finding fixer-uppers in your part of the country...

I'm currently acting on a $150 email offer from CapitalOne: Steps: 1) Open a CapitalOne360 with promo code: Bonus150; 2) Make two $250 direct deposits within 75 days of opening; 3) Receive $150.

I'm jonesing for the $300 bonus at TDBank, but it requires $2500 average daily balance.  Not valid in all states.  :-)  Doctorofcredit.com is your friend.

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #870 on: August 03, 2021, 06:11:20 AM »
Forgot about this thread.

Re: Chase business $750 -- I went to the branch, they apologized for the online screwiness, and now I'm waiting for the bonus.

Player 2 applied for the CSP -- 100k UR points for a $4000 spend (probably will use it for $1250 in cash back).

A drawn-out re-fi attempt hammered my credit score so I'm waiting another 2 weeks for it to recover. Then on to the Ink.

I just went below 5/24 and was approved for the CIP 100K offer after $15K in spend. Have the Ink card and a few personal Chase cards. Since the Biz card kept me under 5/24 still I also applied and was approved for the Cap One Venture 100K offer. Been trying to get a Cap One card for quite some time. I think they finally loosened their approval stipulations. I'll season that card for tradelines in the future as well. 

My plan is, as I fall back below the 5/24 rule in another month or two, to possibly apply for Personal and Biz Chase Southwest cards and try to get the companion pass. My spouse falls below 5/24 soon as well so more Chase cards are on the horizon.

I know a lot of folks have shunned Chase over the years for their 5/24 month language. We are fast approaching 1mil UR points over the last year and a half or so. We have cashed out the majority using the CSR at 1.5 cents per point.   

Dicey

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #871 on: August 03, 2021, 07:19:52 AM »
Posting to join the crowd. To avoid exceeding FDIC limits, we're going to have to open a couple of temporary accounts because of...reasons. I might as well make a little bonus money for my troubles. I need to start doing this right away before DH retires so we can handle the direct deposit requirements.

Looking forward to reporting back on our successes.
@Dicey if you have so much cash rolling around that you're hitting FDIC limits - $250k per depositor per bank per ownership category - don't you want to invest it in index funds or additional real estate?  Though you probably have a hard time finding fixer-uppers in your part of the country..
Yup, it is our dry powder for our next flip project. Problem is, we finished our last one in late 2019 and haven't found another one that makes sense since, boo-hoo. We've identified another property that would be a complete tear down, but DH doesn't want to make an offer until the end of the year. In the mean time, a big chunk of change is headed our way, so we need to make a plan. We hate to miss out on interest and earnings, but in the big picture, there is value in dry powder. Our other RE has continued to do well, as have our equities, so overall, we're fine. More than fine, hence the MPP.

I just learned that DH cannot designate more than one place for his direct deposit, so that will make this game a bit more challenging. Something new to figure out should be interesting.

secondcor521

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #872 on: August 03, 2021, 07:36:23 AM »
Posting to join the crowd. To avoid exceeding FDIC limits, we're going to have to open a couple of temporary accounts because of...reasons. I might as well make a little bonus money for my troubles. I need to start doing this right away before DH retires so we can handle the direct deposit requirements.

Looking forward to reporting back on our successes.
@Dicey if you have so much cash rolling around that you're hitting FDIC limits - $250k per depositor per bank per ownership category - don't you want to invest it in index funds or additional real estate?  Though you probably have a hard time finding fixer-uppers in your part of the country..
Yup, it is our dry powder for our next flip project. Problem is, we finished our last one in late 2019 and haven't found another one that makes sense since, boo-hoo. We've identified another property that would be a complete tear down, but DH doesn't want to make an offer until the end of the year. In the mean time, a big chunk of change is headed our way, so we need to make a plan. We hate to miss out on interest and earnings, but in the big picture, there is value in dry powder. Our other RE has continued to do well, as have our equities, so overall, we're fine. More than fine, hence the MPP.

I just learned that DH cannot designate more than one place for his direct deposit, so that will make this game a bit more challenging. Something new to figure out should be interesting.

@Dicey, there are things that banks treat like direct deposits even if they're not paychecks.  There are resources out there that explain what counts for which bank bonuses.  I think Doctor of Credit has one of the best ones IIRC.

Less common, but there have been bank bonuses that don't require direct deposit(s) to qualify.

elysianfields

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #873 on: August 03, 2021, 07:42:42 AM »
Posting to join the crowd. To avoid exceeding FDIC limits, we're going to have to open a couple of temporary accounts because of...reasons. I might as well make a little bonus money for my troubles. I need to start doing this right away before DH retires so we can handle the direct deposit requirements.

Looking forward to reporting back on our successes.
@Dicey if you have so much cash rolling around that you're hitting FDIC limits - $250k per depositor per bank per ownership category - don't you want to invest it in index funds or additional real estate?  Though you probably have a hard time finding fixer-uppers in your part of the country..
Yup, it is our dry powder for our next flip project. Problem is, we finished our last one in late 2019 and haven't found another one that makes sense since, boo-hoo. We've identified another property that would be a complete tear down, but DH doesn't want to make an offer until the end of the year. In the mean time, a big chunk of change is headed our way, so we need to make a plan. We hate to miss out on interest and earnings, but in the big picture, there is value in dry powder. Our other RE has continued to do well, as have our equities, so overall, we're fine. More than fine, hence the MPP.

I just learned that DH cannot designate more than one place for his direct deposit, so that will make this game a bit more challenging. Something new to figure out should be interesting.

@Dicey, there are things that banks treat like direct deposits even if they're not paychecks.  There are resources out there that explain what counts for which bank bonuses.  I think Doctor of Credit has one of the best ones IIRC.

Less common, but there have been bank bonuses that don't require direct deposit(s) to qualify.

@Dicey I hear you on dry powder.

@secondcor521 would it make sense to set up some nanobusiness/side hustle with payroll so you can make direct deposits?  Asking for a friend...

In my current gig working for the man I can send direct deposits to up to four different accounts.  But the golden handcuffs come off in 2026...

secondcor521

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #874 on: August 03, 2021, 08:23:18 AM »
^ I wouldn't, but the longer I'm FIREd the lazier I get.  Right now I'm working up the motivation to go get some CC SUBs since it's been over two years since applying for any.  Some people might find it worth the effort though.

dragoncar

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #875 on: August 31, 2021, 01:09:18 AM »
OK, I'm starting to think I should sign up with a payroll processor so I can get these direct deposit deals.  OnPay is like $40/mo for one employee and there are a few other in similar price range. 

sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #876 on: August 31, 2021, 04:52:41 AM »
OK, I'm starting to think I should sign up with a payroll processor so I can get these direct deposit deals.  OnPay is like $40/mo for one employee and there are a few other in similar price range.

Have you tried just transferring $$ from checking/savings? I've just started on this (only completed one bank bonus, the Monifi) but it worked by transferring from my online savings, definitely not a "direct deposit".
I'm doing the US Bank checking now, I think it's $400 for $5k in total deposits.
Doctor of Credit has a list of data points of what folks have found that triggers the direct deposit. Never know til you try.

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #877 on: September 01, 2021, 05:43:21 AM »
OK, I'm starting to think I should sign up with a payroll processor so I can get these direct deposit deals.  OnPay is like $40/mo for one employee and there are a few other in similar price range.

Have you tried just transferring $$ from checking/savings? I've just started on this (only completed one bank bonus, the Monifi) but it worked by transferring from my online savings, definitely not a "direct deposit".
I'm doing the US Bank checking now, I think it's $400 for $5k in total deposits.
Doctor of Credit has a list of data points of what folks have found that triggers the direct deposit. Never know til you try.

Some banks are starting to crack down on ACH transfers from other banks. A payroll processer would alleviate this. I've considered this as well.

kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #878 on: September 02, 2021, 05:32:06 AM »
OK, I'm starting to think I should sign up with a payroll processor so I can get these direct deposit deals.  OnPay is like $40/mo for one employee and there are a few other in similar price range.

After listening to The Daily Churn podcast, I think the best option here would be to use Square for $5/month.  He goes into details in this episode: https://thedailychurnpodcast.com/ep-3-square-gusto/

dragoncar

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #879 on: September 02, 2021, 06:04:50 PM »
OK, I'm starting to think I should sign up with a payroll processor so I can get these direct deposit deals.  OnPay is like $40/mo for one employee and there are a few other in similar price range.

After listening to The Daily Churn podcast, I think the best option here would be to use Square for $5/month.  He goes into details in this episode: https://thedailychurnpodcast.com/ep-3-square-gusto/

When I looked square was also $35/mon plus  $5/employee

Yeah Iím not willing to send a bank tens of thousands of dollars for months on the off chance an ACH push will satisfy their requirements.  Data points are good but most deals I checked wonít work for me

kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #880 on: September 02, 2021, 08:28:35 PM »

When I looked square was also $35/mon plus  $5/employee

I think you use Contractor payroll, which is listed as $5 per contractor per month.

sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #881 on: September 02, 2021, 08:59:42 PM »

When I looked square was also $35/mon plus  $5/employee

I think you use Contractor payroll, which is listed as $5 per contractor per month.

I'll definitely check that out if my next try fails, thanks.

elysianfields

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #882 on: October 06, 2021, 05:04:10 AM »

I'm currently acting on a $150 email offer from CapitalOne: Steps: 1) Open a CapitalOne360 with promo code: Bonus150; 2) Make two $250 direct deposits within 75 days of opening; 3) Receive $150.

Received my CapitalOne bonus yesterday.  Waiting on US Bank - had to do a transfer from CapitalOne to meet the DD deadline, we'll see if it works.

Monifi is next for $250.

Whenever I read someone talking about "two-player mode" here, I think of the Doritos commercial, "Boys Night In"... "single player, or multi-player?" heh.

getmoneyeatpizza

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #883 on: October 12, 2021, 08:07:40 PM »
My employer just updated a system and we can now change the direct deposit info ourselves. So now I'm thinking I should play. Any recommended order? Or easy ones to knock out?

Thanks for any tips

secondcor521

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #884 on: October 12, 2021, 09:52:18 PM »
My employer just updated a system and we can now change the direct deposit info ourselves. So now I'm thinking I should play. Any recommended order? Or easy ones to knock out?

Thanks for any tips

Easiest thing is to head over to Doctor of Credit, look at his list of best bank bonuses, and pick the ones that work for you.  Read comments at the bottom to find out if people have problems getting paid or whatever.

bacchi

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #885 on: October 15, 2021, 06:51:12 PM »
P1 and P2 struck out on the Citi Premier. Both of us are 5/24 and the 5th card was fairly recently (August). I shoulda read the DOC comments before applying.


sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #886 on: October 15, 2021, 10:52:28 PM »
I received the $400 bonus from US Bank (open checking account, deposit $5k).
I did two transfers from a Discover savings account, which worked fine even though according to the fine print it has to be a direct deposit from an employer.
It took about five weeks after I met the requirements for the bonus to post.

elysianfields

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #887 on: October 16, 2021, 05:59:44 AM »
I received the $400 bonus from US Bank (open checking account, deposit $5k).
I did two transfers from a Discover savings account, which worked fine even though according to the fine print it has to be a direct deposit from an employer.
It took about five weeks after I met the requirements for the bonus to post.

Thanks for the data point, I was wondering when to expect the bonus to post.

billy

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #888 on: October 16, 2021, 06:24:09 AM »
My wife applied for Citi premier mastercard 2 weeks ago, and was denied due to too mush unutilized available credit and length of credit card history, about a week ago she called reconsider line for manual review, but have not heard back. Se currently has 9 open CC, 1 is from 2007, but there are 4 from this year and 4 from last year, none with annual fee. So should she close like 7 CC of the more recent ones?

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #889 on: October 16, 2021, 07:02:31 AM »
My wife applied for Citi premier mastercard 2 weeks ago, and was denied due to too mush unutilized available credit and length of credit card history, about a week ago she called reconsider line for manual review, but have not heard back. Se currently has 9 open CC, 1 is from 2007, but there are 4 from this year and 4 from last year, none with annual fee. So should she close like 7 CC of the more recent ones?

Maybe you have too much available credit and they don't want to extend you more? Speaking with a CSR might clear this up a bit better. Not necessary to close down all 7 cards. You can even lower credit limits as well.   

billy

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #890 on: October 16, 2021, 09:01:30 AM »
a lot of her cards are Chase, if end up keeping the cards open just lower the limit are you still eligible to open the same card up again and having two of them, after waiting the period of time and getting the bonus again if you already have the card open?

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #891 on: October 16, 2021, 09:47:21 AM »
a lot of her cards are Chase, if end up keeping the cards open just lower the limit are you still eligible to open the same card up again and having two of them, after waiting the period of time and getting the bonus again if you already have the card open?

You used to be able to open multiples of the same business card, but that loophole has since been closed (I think). I don't think anyone has multiples of the same personal card. I know with the Sapphire card you have to wait 4 years from approval until you can apply for the same card again. Then of course there is the 5/24 rule. If you open a Citi card that will put you at 9/24. You'll be waiting until 2023 to fall back below 5/24 to open Chase cards again assuming you don't open anymore cards that count against you until then. 

bacchi

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #892 on: October 16, 2021, 11:21:53 AM »
My wife applied for Citi premier mastercard 2 weeks ago, and was denied due to too mush unutilized available credit and length of credit card history, about a week ago she called reconsider line for manual review, but have not heard back. Se currently has 9 open CC, 1 is from 2007, but there are 4 from this year and 4 from last year, none with annual fee. So should she close like 7 CC of the more recent ones?

My Citi denial was due to "too much available credit" as well. Anyone who has more than a few cards will get this and, reading the doctor comments, calling the recon line isn't helpful.

The only multiple business cards I have now are through BoA.

billy

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #893 on: October 16, 2021, 03:30:42 PM »
My wife applied for Citi premier mastercard 2 weeks ago, and was denied due to too mush unutilized available credit and length of credit card history, about a week ago she called reconsider line for manual review, but have not heard back. Se currently has 9 open CC, 1 is from 2007, but there are 4 from this year and 4 from last year, none with annual fee. So should she close like 7 CC of the more recent ones?

My Citi denial was due to "too much available credit" as well. Anyone who has more than a few cards will get this and, reading the doctor comments, calling the recon line isn't helpful.

The only multiple business cards I have now are through BoA.

Very good info thank you. I think these bank as wising up to the churning, I won't hold my breath with Citi then. I was able to get US Bank to reconsider a denial for me, they didn't ask for reasons just said they will have it manually reviewed. She also got approved for a US Bank CC but with a $500 limit, has anyone tried making a $2,000 payment to increase credit limit, so I can make a $2,500 purchase? Since we both got a CC, I went ahead and closed a bunch of CC and just keep 3 open each.

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #894 on: October 16, 2021, 04:54:39 PM »
I checked DOC today and Discover savings has a bonus again. I will probably do that for DH after the citi $700 bonus (I already have Discover savings).

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #895 on: October 18, 2021, 06:35:48 AM »
My wife applied for Citi premier mastercard 2 weeks ago, and was denied due to too mush unutilized available credit and length of credit card history, about a week ago she called reconsider line for manual review, but have not heard back. Se currently has 9 open CC, 1 is from 2007, but there are 4 from this year and 4 from last year, none with annual fee. So should she close like 7 CC of the more recent ones?

My Citi denial was due to "too much available credit" as well. Anyone who has more than a few cards will get this and, reading the doctor comments, calling the recon line isn't helpful.

The only multiple business cards I have now are through BoA.

Very good info thank you. I think these bank as wising up to the churning, I won't hold my breath with Citi then. I was able to get US Bank to reconsider a denial for me, they didn't ask for reasons just said they will have it manually reviewed. She also got approved for a US Bank CC but with a $500 limit, has anyone tried making a $2,000 payment to increase credit limit, so I can make a $2,500 purchase? Since we both got a CC, I went ahead and closed a bunch of CC and just keep 3 open each.

CC companies started wising up years ago. It's only gotten more difficult. I started churning around 2015 (much later than others) and enjoyed a couple years of little restrictions. Since then it's been tough sledding. I focus more on bank accounts and tradelines now. I'll open a 2-3 cards every year now mostly to try and offset whatever travel plans we have for that year. In 2 player mode that's still 4-6 new cards each year. I still prefer Chase UR points.