Monday, April 13, 2015

Get paid $100 an hour with credit card churning

I've recently discovered the world of credit card "churning". The term officially refers to people that apply to a credit card, reap a sign-up bonus, cancel the card, and repeat (in another year or so).

However, "churning" commonly refers to any use of credit cards primarily for sign-up bonuses and rewards. You'll find that most of these offers come with bonuses in the form of airline miles. I don't travel much, so I don't find these worth my time. However I've already opened two credit cards in the past 6 months that give flat cash bonuses ($100-$200) for simply opening the account and meeting some minimum spending requirements. In both cases the requirement was simply to spend $500 on the card in the first 90 days. This was pretty easy to meet with just my normal spending on groceries, restaurants, and gas. It took me less than an hour of time to apply for the card, activate it, and stick it in the front of my wallet for three months (to remind myself that I should use it on my normal daily spending)

The first one I did was the Chase Freedom Card. They still have the offer: a free $100 bonus when you open the account and meet the $500 spending requirement. Click the link below to apply (and I get $50 for referring you!)

Easy Peasy. A nice present from Chase Bank. If you are looking for a good daily use card, this one isn't bad anyways (no annual fee, rotating 5% cash back categories)