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Personal Finance and Investing

doc03

(37,114 posts)

26. A few years ago my auto insurance went up and the insurance company

Reply to DJ Porkchop (Original post)

Wed Jan 31, 2024, 10:44 AM

Jan 2024

blamed my poor credit rating. They recommended that I barrow money and get a couple more
store credit cards, that would improve my credit score. At that time, I had one credit card that I
paid up every month and I didn't owe anyone a dime. I got a couple more cards and borrowed money
for a new car which I had never done before and my credit rating went up a couple hundred points.
If my insurance rates ever dropped they were canceled out by their yearly increase though.

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Anybody here into credit card churning? [View all] DJ Porkchop Jan 2024 OP

My wife and I just paid off all our cards AZSkiffyGeek Jan 2024 #1

I'd be happy to show you what I've learned. DJ Porkchop Jan 2024 #9

Sounds like too much work to me and seems like it could affect your credit? walkingman Jan 2024 #2

While I don't encourage the practice, it wouldn't hurt credit if it is payed off every month. 3Hotdogs Jan 2024 #3

In my case I hadn't thought to buy stuff to make sure we got cashback AZSkiffyGeek Jan 2024 #4

Exactly. Now, what are you getting back for your loyalty? DJ Porkchop Jan 2024 #11

It can be a way to save tons of money NoRethugFriends Jan 2024 #6

+1 DJ Porkchop Jan 2024 #12

I travel fequently for work.... Happy Hoosier Jan 2024 #23

That's not really a fallacy, though... just bad decision making from some. Happy Hoosier Jan 2024 #21

Manufactured Spending! NoRethugFriends Jan 2024 #25

Doesn't hurt your credit at all NoRethugFriends Jan 2024 #5

The goal is to get your utilization down to 1%. DJ Porkchop Jan 2024 #13

My credit has improved as I've gone through this. DJ Porkchop Jan 2024 #10

Apparently does NOT hurt credit.... in fact, the opposite in the long term. Happy Hoosier Jan 2024 #19

I play this game a little unc70 Jan 2024 #7

TPG is a great resource. DJ Porkchop Jan 2024 #14

Admirals Club included with Platinum Pro, but not Platinum unc70 Jan 2024 #17

My home airport only has a Delta lounge.... Happy Hoosier Jan 2024 #22

My credit score is 730+ DJ Porkchop Jan 2024 #8

I'm following a similar path.... Happy Hoosier Jan 2024 #24

No. I do pay my credit card off every month. PoindexterOglethorpe Jan 2024 #15

I would love if everyone booked Business or First Class. DJ Porkchop Jan 2024 #16

Thank you. PoindexterOglethorpe Jan 2024 #18

Interesting you posted this.... Happy Hoosier Jan 2024 #20

I like the offerings from Chase best. DJ Porkchop Jan 2024 #29

A few years ago my auto insurance went up and the insurance company doc03 Jan 2024 #26

The comedian Kevin Hart is always hawking Submariner Jan 2024 #27

Cash back cards have been around since the 80's Happy Hoosier Feb 2024 #32

While I do this too, in a small way, there has been criticism of this system in the past, kelly1mm Jan 2024 #28

I get the criticism. DJ Porkchop Jan 2024 #30

I know. Guy that does the points game on a low salary... Happy Hoosier Feb 2024 #31

I go for cash back cards only RoadRunner Feb 2024 #33