Credit card bonus whoring

[Dan Druff]

I have decided to get into the exciting hobby of credit card bonus whoring.

Simply put, credit card bonus whoring means signing up for as many credit cards as possible with worthwhile bonus programs or benefits.

Here are the type of benefits I'm looking for:

- Ability to get some kind of high-value ($200 or more) short-term bonus. Sometimes this is tied to spending a lot in a short period of time, but I can easily do that. The bigger the bonus (either cash or miles), the better.

- Ability to get some sort of "multiple points or miles" on certain categories of spending. For example, some cards offer 5x points (essentially 5% back) on all internet and phone expenditures. Others offer it on restaurants. I'm looking for ones in the 5% range on major categories, even if only one category per card.

- Zero fee for first 6 months (or year). If there is a fee, the benefits need to be substantially higher. (For example, I don't want to pay a $95 fee to get a $200 benefit).


I have an ability to sign up both as an individual and a business, so go ahead and tell me about both categories.

I also have an ability to spend a lot of money in a short time in order to get these benefits.

Any suggestions would be appreciated. TY

BTW, I don't care about my credit score. Yes, I know it will suffer somewhat from doing this, but I have no problem with that, as I am not credit-score-obsessed given my needs for the coming years.

[abrown83]

I have decided to get into the exciting hobby of credit card bonus whoring.

Simply put, credit card bonus whoring means signing up for as many credit cards as possible with worthwhile bonus programs or benefits.

Here are the type of benefits I'm looking for:

- Ability to get some kind of high-value ($200 or more) short-term bonus. Sometimes this is tied to spending a lot in a short period of time, but I can easily do that. The bigger the bonus (either cash or miles), the better.

- Ability to get some sort of "multiple points or miles" on certain categories of spending. For example, some cards offer 5x points (essentially 5% back) on all internet and phone expenditures. Others offer it on restaurants. I'm looking for ones in the 5% range on major categories, even if only one category per card.

- Zero fee for first 6 months (or year). If there is a fee, the benefits need to be substantially higher. (For example, I don't want to pay a $95 fee to get a $200 benefit).


I have an ability to sign up both as an individual and a business, so go ahead and tell me about both categories.

I also have an ability to spend a lot of money in a short time in order to get these benefits.

Any suggestions would be appreciated. TY

BTW, I don't care about my credit score. Yes, I know it will suffer somewhat from doing this, but I have no problem with that, as I am not credit-score-obsessed given my needs for the coming years.

Druff the trick is to leave them open for a full year and close them right before you incur the annual fee.

The Southwest card always runs a promotions (a few times a year) for two round trip tickets in the US for signing up and spending like $2000.

Ideally you shouldn't open more than 3 or 4 a year.

[Dan Druff]

I have decided to get into the exciting hobby of credit card bonus whoring.

Simply put, credit card bonus whoring means signing up for as many credit cards as possible with worthwhile bonus programs or benefits.

Here are the type of benefits I'm looking for:

- Ability to get some kind of high-value ($200 or more) short-term bonus. Sometimes this is tied to spending a lot in a short period of time, but I can easily do that. The bigger the bonus (either cash or miles), the better.

- Ability to get some sort of "multiple points or miles" on certain categories of spending. For example, some cards offer 5x points (essentially 5% back) on all internet and phone expenditures. Others offer it on restaurants. I'm looking for ones in the 5% range on major categories, even if only one category per card.

- Zero fee for first 6 months (or year). If there is a fee, the benefits need to be substantially higher. (For example, I don't want to pay a $95 fee to get a $200 benefit).


I have an ability to sign up both as an individual and a business, so go ahead and tell me about both categories.

I also have an ability to spend a lot of money in a short time in order to get these benefits.

Any suggestions would be appreciated. TY

BTW, I don't care about my credit score. Yes, I know it will suffer somewhat from doing this, but I have no problem with that, as I am not credit-score-obsessed given my needs for the coming years.

Druff the trick is to leave them open for a full year and close them right before you incur the annual fee.

The Southwest card always runs a promotions (a few times a year) for two round trip tickets in the US for signing up and spending like $2000.

Ideally you shouldn't open more than 3 or 4 a year.

I was told that you can sometimes negotiate the fee off after a year, and can also get a refund of the annual fee within 30 days of it being charged (if you choose to close it).

I don't really want the Southwest card. I hate them.

Why shouldn't I open more than 3-4 per year? What will happen if I open more than that? I spoke to someone today who has 30 accounts open and hasn't had any negative repercussions from it, aside from a lowered credit score.

[abrown83]

Druff the trick is to leave them open for a full year and close them right before you incur the annual fee.

The Southwest card always runs a promotions (a few times a year) for two round trip tickets in the US for signing up and spending like $2000.

Ideally you shouldn't open more than 3 or 4 a year.

I was told that you can sometimes negotiate the fee off after a year, and can also get a refund of the annual fee within 30 days of it being charged (if you choose to close it).

I don't really want the Southwest card. I hate them.

Why shouldn't I open more than 3-4 per year? What will happen if I open more than that? I spoke to someone today who has 30 accounts open and hasn't had any negative repercussions from it, aside from a lowered credit score.

The lowered credit score can actually prevent you from getting approved and getting new cards.

If you grab a lot of credit all at once you will prevent yourself from getting the really great credit card deals that come a long 2-3 times a year.

As you have more accounts opened over time the more cards you can get away with opening.

The whole credit score system is total bull shit. I have a thread about improving your credit score on this site somewhere for anybody reading this that is interested in improving their score, so they can whore like Druff.

[BetCheckBet]

The greatest thing about being rich is not having to worry about stuff like this. Leave this to the single mothers and college students.

[sonatine]

Start a credit card bonus whoring subforum imo.

[FreeGucciMane]

I am a self proclaimed EXPERT on credit card bonus whoring.

First get chase freedom if you haven't already. Easy free $100 with 5% cash back on select categories every statement cycle that you have to "opt in" for. No annual fee ever!

Also the $175 annual fee after first year American Express Blue cash preferred card will get you free $150 then its 6% at any grocery store, 3% at gas stations, 1-2% anything else. Up to 6k a year for the grocery store dealio. You can also buy gift cards at the grocery store like gas cards and get the 6% if you don't plan on buying food with it...That's a nice trick.

If you are looking for a status symbol amoung bitches get American Express platinum. Also get that card if you are a frequent flier...$450 a year annual fee.

You want more cards let me know old sport.

[BeerAndPoker]

You don't want to have too many credit cards but if you have a lot have them reduce your credit line if they will on the ones with shit comps. One of the things the card companies look at is credit available for you to spend and if it's too much then it can hurt your credit rating.

If a card gives you a $10k limit and you don't think you will ever come close to using that much for this card then tell them that is way too much and have it reduced to something like $2k.

I get these things in the mail all the time many of them from chase where you get $250 just for signing up and I don't know why I just pitch them but I do. Their is no annual fee on the one they keep sending me or amount I have to spend it's just the rewards credits aren't rewarded until 90 days.

Once the time is up cancel the cards with any fee or shitty rewards.

You can negotiate the fee on some cards. I've had annual fees removed a few times telling the company I'm not paying that and have other cards or will apply elsewhere if they won't remove it. Some of them will just waive the fee while others will give you the run around at which point you just tell them you want to cancel.

[FreeGucciMane]

Also pick up the Chase Sapphire preferred. Free $500 in travel credits after 3k spent in first 3 months. $95 annual fee.

[Hockey Guy]

You don't want to have too many credit cards but if you have a lot have them reduce your credit line if they will on the ones with shit comps. One of the things the card companies look at is credit available for you to spend and if it's too much then it can hurt your credit rating.

Maybe it's a Canadian thing but this hasn't hurt my credit rating at all.

[Pooh]

I have a Chase rewards card that earns one point for each dollar spent with double points for basically all travel and hotels. I put around 80k on the card per year so the points tend to add up. 25k points gets you a $400 credit towards flying with no blackout dates:

Where will your miles take you?

With TravelPlus:
•Earn 2 miles for every $1 spent on airline tickets – when purchased directly with the airline, at car rental agencies and on hotel accommodations – when purchased directly with the hotel
•Earn 1 mile for every $1 spent on all other purchases
•Earn additional miles when you shop online with www.chase.com/rewardsplus
•Don’t be limited – there are no caps or mile expirations
•You get great redemption options like cash back, airline tickets with no black–out dates and more



Never used this but maybe I should start. Some of these are 5 or 10 miles for each dollar.

FYI I've used these for airline tickets many times and have had zero problems with getting the flights I want and I've booked only two weeks out before. The only problem is they use the prices from the airlines website instead of a site like orbitz but usually it doesn't matter because its 25k points minimum for flying. However, if the ticket is $500 they don't make you use 50k points, they just prorate it up from the 25. I've had this card forever.

[NaturalBornHustler]

You don't want to have too many credit cards but if you have a lot have them reduce your credit line if they will on the ones with shit comps. One of the things the card companies look at is credit available for you to spend and if it's too much then it can hurt your credit rating.

If a card gives you a $10k limit and you don't think you will ever come close to using that much for this card then tell them that is way too much and have it reduced to something like $2k.

I get these things in the mail all the time many of them from chase where you get $250 just for signing up and I don't know why I just pitch them but I do. Their is no annual fee on the one they keep sending me or amount I have to spend it's just the rewards credits aren't rewarded until 90 days.

Once the time is up cancel the cards with any fee or shitty rewards.

You can negotiate the fee on some cards. I've had annual fees removed a few times telling the company I'm not paying that and have other cards or will apply elsewhere if they won't remove it. Some of them will just waive the fee while others will give you the run around at which point you just tell them you want to cancel.

This is not true.

One of the biggest factors in your credit score is your debt to credit limit percentage. If you have 5 cards all run right up to the max, or lower existing lines that you are not using it will lower your score....sometimes by a lot. You always want to have credit lines that aren't being used if possible.

There is nothing better for the credit bureau's to see you have 100k in credit but are only using 10k of it. If you have 25k in lines and are using 24k of it, it is looked at as you being maxed out (which you are) and right on the edge of financial issues if anything ever goes wrong. That is a high risk person, while a person with say 5x debt credit available is looked at as in no real danger to default because they have so much access to other credit.

You never want to shut accounts down, or lower limits if you aren't forced to by the bank.

[ShadyJ]

You don't want to have too many credit cards but if you have a lot have them reduce your credit line if they will on the ones with shit comps. One of the things the card companies look at is credit available for you to spend and if it's too much then it can hurt your credit rating.

If a card gives you a $10k limit and you don't think you will ever come close to using that much for this card then tell them that is way too much and have it reduced to something like $2k.

I get these things in the mail all the time many of them from chase where you get $250 just for signing up and I don't know why I just pitch them but I do. Their is no annual fee on the one they keep sending me or amount I have to spend it's just the rewards credits aren't rewarded until 90 days.

Once the time is up cancel the cards with any fee or shitty rewards.

You can negotiate the fee on some cards. I've had annual fees removed a few times telling the company I'm not paying that and have other cards or will apply elsewhere if they won't remove it. Some of them will just waive the fee while others will give you the run around at which point you just tell them you want to cancel.

Its better to have more credit opened not used then doing this.

[tony bagadonuts]

You don't want to have too many credit cards but if you have a lot have them reduce your credit line if they will on the ones with shit comps. One of the things the card companies look at is credit available for you to spend and if it's too much then it can hurt your credit rating.

If a card gives you a $10k limit and you don't think you will ever come close to using that much for this card then tell them that is way too much and have it reduced to something like $2k.

This is not true.

One of the biggest factors in your credit score is your debt to credit limit percentage. If you have 5 cards all run right up to the max, or lower existing lines that you are not using it will lower your score....sometimes by a lot. You always want to have credit lines that aren't being used if possible.

There is nothing better for the credit bureau's to see you have 100k in credit but are only using 10k of it. If you have 25k in lines and are using 24k of it, it is looked at as you being maxed out (which you are) and right on the edge of financial issues if anything ever goes wrong. That is a high risk person, while a person with say 5x debt credit available is looked at as in no real danger to default because they have so much access to other credit.

You never want to shut accounts down, or lower limits if you aren't forced to by the bank.

NBH is 100% correct.

Sorry B&P but your comments regarding credit usage and its impact on your credit rating are exactly wrong.

[BeerAndPoker]

You don't want to have too many credit cards but if you have a lot have them reduce your credit line if they will on the ones with shit comps. One of the things the card companies look at is credit available for you to spend and if it's too much then it can hurt your credit rating.

If a card gives you a $10k limit and you don't think you will ever come close to using that much for this card then tell them that is way too much and have it reduced to something like $2k.

I get these things in the mail all the time many of them from chase where you get $250 just for signing up and I don't know why I just pitch them but I do. Their is no annual fee on the one they keep sending me or amount I have to spend it's just the rewards credits aren't rewarded until 90 days.

Once the time is up cancel the cards with any fee or shitty rewards.

You can negotiate the fee on some cards. I've had annual fees removed a few times telling the company I'm not paying that and have other cards or will apply elsewhere if they won't remove it. Some of them will just waive the fee while others will give you the run around at which point you just tell them you want to cancel.

This is not true.

One of the biggest factors in your credit score is your debt to credit limit percentage. If you have 5 cards all run right up to the max, or lower existing lines that you are not using it will lower your score....sometimes by a lot. You always want to have credit lines that aren't being used if possible.

There is nothing better for the credit bureau's to see you have 100k in credit but are only using 10k of it. If you have 25k in lines and are using 24k of it, it is looked at as you being maxed out (which you are) and right on the edge of financial issues if anything ever goes wrong. That is a high risk person, while a person with say 5x debt credit available is looked at as in no real danger to default because they have so much access to other credit.

You never want to shut accounts down, or lower limits if you aren't forced to by the bank.

Not necessarily true.

Okay let me try to explain what I mean better.

If you have $100k in potential credit that you've only used up $10k but your net worth shows you could possibly hold up to $250k in lines of credit then in this case it will look good on a report but if your maxed to what they determine your financials allow you to have for open credit lines then it has a reverse effect.

Say you have 8 credit cards. Two of them have $15k limits, 4 have $10k limits, and the other 2 have 5k limits. You have $80k available to spend at any time. If your financials show this is a lot money in regards to your net worth when running a credit report check they might come back to you and say "We're sorry but we can't issue you a card" or we can only give you "$2k" because you have a lot of potential credit spending available. If you were to reply to them saying "Yes Mr. Smith, I understand I have these 8 credit cards but I currently have spent only $10k of the $80k available" it won't matter unless you cancel a card before they can issue you a bigger balance otherwise any John Doe in the world could go open bottomless amounts of credit not spending much of it then go all out crazy from doing so.

It's the same if your going to the bank to get a loan they will run a credit report and see if you have this $80k available in possible spending which they see is a lot of money in relation to the value of your current assets and what you make a year then they very well can decline giving you a loan.

Now lets say you get declined a few times whether it's for another credit card or for a loan even though your cards aren't maxed out but you simply have opened too much credit available to you then these declines of new lines of credit negatively hurt your credit rating on any credit report.

I'm not saying to open a card, get $10k, reduce the card to $2k and max it out but if your whole purpose is to open a few extra cards for bonus whoring if your financials won't allow you to have too much open credit and your just opening to get the bonus but barely ever use the card then you can get a few extra cards this way.

[FreeGucciMane]

I am a self proclaimed EXPERT on credit card bonus whoring.

First get chase freedom if you haven't already. Easy free $100 with 5% cash back on select categories every statement cycle that you have to "opt in" for. No annual fee ever!

Also the $175 annual fee after first year American Express Blue cash preferred card will get you free $150 then its 6% at any grocery store, 3% at gas stations, 1-2% anything else. Up to 6k a year for the grocery store dealio. You can also buy gift cards at the grocery store like gas cards and get the 6% if you don't plan on buying food with it...That's a nice trick.

If you are looking for a status symbol amoung bitches get American Express platinum. Also get that card if you are a frequent flier...$450 a year annual fee.

You want more cards let me know old sport.

Wow I was wrong it's only 75 annual fee not 175

https://www304.americanexpress.com/c...cash-preferred

[JimmyG_415]

This is not true.

One of the biggest factors in your credit score is your debt to credit limit percentage. If you have 5 cards all run right up to the max, or lower existing lines that you are not using it will lower your score....sometimes by a lot. You always want to have credit lines that aren't being used if possible.

There is nothing better for the credit bureau's to see you have 100k in credit but are only using 10k of it. If you have 25k in lines and are using 24k of it, it is looked at as you being maxed out (which you are) and right on the edge of financial issues if anything ever goes wrong. That is a high risk person, while a person with say 5x debt credit available is looked at as in no real danger to default because they have so much access to other credit.

You never want to shut accounts down, or lower limits if you aren't forced to by the bank.

NBH is 100% correct.

Sorry B&P but your comments regarding credit usage and its impact on your credit rating are exactly wrong.

I agree w/these 2, and B+P, I read your reply below to Tony, but your net worth, (or your income), they don't show up on your credit report.

I'd imagine Druff has close to a 800 score, so I don't see this hurting his score enough to even notice, as 720 is pretty much as high as you need. (Some lenders give you small discount w/ a 740, but I've never seen one incentive for having a score over 741)

Now someone w/credit issues, a few lates, or ends up getting maxed out, that is when your score will get lower enough to hurt.
But if you have money management skills, I don't this being a "real" problem for anyone w/good credit.

[Rollo Tomasi]

This is not true.

One of the biggest factors in your credit score is your debt to credit limit percentage. If you have 5 cards all run right up to the max, or lower existing lines that you are not using it will lower your score....sometimes by a lot. You always want to have credit lines that aren't being used if possible.

There is nothing better for the credit bureau's to see you have 100k in credit but are only using 10k of it. If you have 25k in lines and are using 24k of it, it is looked at as you being maxed out (which you are) and right on the edge of financial issues if anything ever goes wrong. That is a high risk person, while a person with say 5x debt credit available is looked at as in no real danger to default because they have so much access to other credit.

You never want to shut accounts down, or lower limits if you aren't forced to by the bank.

NBH is 100% correct.

Sorry B&P but your comments regarding credit usage and its impact on your credit rating are exactly wrong.

15 yards for piling on

[BeerAndPoker]

NBH is 100% correct.

Sorry B&P but your comments regarding credit usage and its impact on your credit rating are exactly wrong.

I agree w/these 2, and B+P, I read your reply below to Tony, but your net worth, (or your income), they don't show up on your credit report.

I'd imagine Druff has close to a 800 score, so I don't see this hurting his score enough to even notice, as 720 is pretty much as high as you need. (Some lenders give you small discount w/ a 740, but I've never seen one incentive for having a score over 741)

Now someone w/credit issues, a few lates, or ends up getting maxed out, that is when your score will get lower enough to hurt.
But if you have money management skills, I don't this being a "real" problem for anyone w/good credit.

What you see on your own report and what card companies have access to when your applying are two different things.

All I'm saying is if you have a 750 rating it don't mean the credit card companies are not going to look at how much credit you have open to use and how much of it you have used. They will always look at this and from some of the comments people are making it's like they think you can have very little assets but a great credit rating due to your history and be able to open as many cards as you want which isn't the case otherwise whose to stop some guy from opening 60 cards with a $10k balance each that only has $80k in assets with a $40k a year job then that person to go off spending everything ruining themselves financially?

The card companies will know when something don't look right to them and believe me they obviously know how many other cards you have as that does show up on your report but are also able to see other things about you in determining what kind of credit line you are able to receive.

[tony bagadonuts]

NBH is 100% correct.

Sorry B&P but your comments regarding credit usage and its impact on your credit rating are exactly wrong.

15 yards for piling on

B&P is a big boy and an excellent poster, he can take it.