Credit Card Churning As Explained by National Debt Relief

MIAMI, May 22, 2019 /PRNewswire-PRWeb/ -- There are a number of people who are trying to understand what credit card churning is and that is why National Debt Relief aims to help consumers by explaining what this process is. The article titled "What Is Credit Card Churning And Should I Try It?" released May 1, 2019, aims to give people a better understanding what the process is and if it can help manage their finances better.

The article starts off by pointing out that there are consumers out there who sign-up for credit cards simply for the rewards points. As a result, they end up signing for and availing numerous rewards along the way. This process is called credit card churning. This process has a lot of benefits, as well as disadvantages.

The article shares that credit card churning means people would have to open new and close old credit card accounts constantly. What people need to remember is that they have to qualify for these credit cards with an average to good credit score. This makes it important for consumers to be on top of their credit score.

The article points out that consumers can get free copies of their credit report from major credit reporting bureaus once every 12 months. This helps people obtain a clear picture of their credit rating to know if they can consider credit card churning. Many online banks and financial apps allow consumers to monitor their credit score in real time, too, so people should consider downloading one of those to maintain credit score awareness at all times.

The article also reminds people that churning will require people to rack up significant balances on their credit cards for the points, pay them off, and cancel them, and then sign up for new credit cards. They will have to repeat this process repeatedly to reap any real benefits from all this churning. If consumers carry a balance that's too high to pay off in a given month, their ability to close out the old cards and order new ones to earn more points will be severely limited. This is one of the reasons they should really think long and hard before deciding to start credit card churning.

To read the full article, click here: https://www.nationaldebtrelief.com/what-is-credit-card-churning/.

SOURCE National Debt Relief