All good things come to an end…and credit card rewards are now under scrutiny, given how prolific and profitable the churning community has become. Here’s my thoughts - enjoy! Add me on Instagram: GPStephan
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Recently there have been report, after report, after report on the not-so-bright future of credit card churning, and looks like the golden days of incredibly lucrative sign up bonuses for free stuff MIGHT be coming to an end.
The problem here…if you want to call it a problem… is that credit card rewards got TOO good. Companies like Chase Sapphire Reserve and American Express began offering incredible signup bonuses to lure customers. But this is only sustainable for so long before too many people begin to outsmart the system…like us…and begin using their “customer acquisition” as an exploit for profit.
Vox.com published that:
“Sources have told the Wall Street Journal that companies like Citigroup, JPMorgan, and American Express are currently talking about reassessing their credit card rewards program because they’ve realized they’ve been offering too many rewards.”
These recent moves by credit card companies were for customer acquisition. They WANT people to get in the door and become customers…and they’re hoping most people will be lazy and not cancel their card, they’ll never redeem their points, and maybe they’ll continue using the card once they get it. Credit card companies only make a small portion of their money from interest…they make the vast majority of their profit from transaction fees the merchant pays every time you use your card. So for people who just stop using their card after meeting the minimum spend, then use the points…that’s obviously NOT profitable for them.
I DO think the golden era of credit card churning is coming to an end. It won’t be gone entirely, but they will absolutely begin changing up how they offer points and how they reward brand loyalty.
We’ve already seen it happening…Chase Sapphire Reserve down to 50,000 points. Chase is now only allowing one sapphire card per customer. Other chase cards gave up price protection. They’ve began limiting how many guests you can bring in the priority pass lounge. And I personally think we’ll continue to see fewer and fewer rewards in the coming year.
However, the good news is that I highly doubt this would ever go away, entirely…while they may have offered TOO MUCH in the past, they’re still going to offer SOMETHING - it just might not be as good. Or maybe we’ll see smaller rewards coming annually.
I also think we’re going to start to see these credit cards also giving you bonus on OTHER banking services, which is where they can start making A LOT more profit. For instance, open up our checking account…and once you’re in our system, we’ll get you a car loan, a mortgage, personal banking, investment management…and your LIFETIME value will vastly outpace the reward we give you upfront.
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25 thoughts on “The end of credit card signup bonuses??”
  1. Avataaar/Circle Created with python_avatars Island Traveler Ly says:

    Common sense is like deodorant. Most people don't use it.

  2. Avataaar/Circle Created with python_avatars Steve Dice says:

    Actually they got better. I got amex gold business for 6k spend/80k sign up bonus, CS Amex platinum 100k bonus, resy gold personal amex 75k bonus, $250 cash back.

  3. Avataaar/Circle Created with python_avatars Victor Arizona says:

    there alot of scammer am happy to choose the legit vendor and I get my cc from@zekklas on telegram and he is a good reliable vendor and am happy to choose the legit vendor💯💯💯💯

  4. Avataaar/Circle Created with python_avatars ProVoidCloak says:

    Comment for the algorithm

  5. Avataaar/Circle Created with python_avatars Michael Amireh says:

    Maybe after Covid they will bring back these huge rewards due to the lack of spending in the economy!

  6. Avataaar/Circle Created with python_avatars Jones Valentino says:

    I bought my banklog from *Dumpscardingg* on telegram with the easiest cashout method which worked 100% no red flag at all he own me a lot,I also bought some credit card from worth the balance I requested which actually works fine the dude helped me alot with his stuffs work with him guys, I’m earning much already ✅

  7. Avataaar/Circle Created with python_avatars Cedric Fisher says:

    Way to tell em how to screw us “Big Fella “!

  8. Avataaar/Circle Created with python_avatars Grace Watson says:

    Thanks for the informative videos! I’ve binge-watched all of them in the last 2 months.

  9. Avataaar/Circle Created with python_avatars Side Hustle Reviews says:

    awesome video! If you guys are looking for more suggested cards I just posted a review on my top favorites!

  10. Avataaar/Circle Created with python_avatars Andrew Weiss says:

    20 months later and I’m still getting sign up bonuses

  11. Avataaar/Circle Created with python_avatars Alana Bryant says:

    I never knew this is gonna workout until I work with him Leopinhack on telegram he is the best

  12. Avataaar/Circle Created with python_avatars FR. JOSEPH SINGH says:

    I got mine from Leopinhack on telegram someone introduce him to me
    he is real don’t fall into scammers

  13. Avataaar/Circle Created with python_avatars Carter Falk says:

    Quick question – if I have $1,000 of available credit, and am chasing a welcome bonus by spending $1,000 in the first three months, is it worth it to chase this bonus if it will hurt my utilization? (i.e. spending $333.33 / month will be 33.33% utilization, greater than my desired 20% utilization).

  14. Avataaar/Circle Created with python_avatars Tony Maldonado says:

    I love your vids!

  15. Avataaar/Circle Created with python_avatars hnyflvr says:

    Sorry, no such thing as “free” you have minimum spends for all those cards 😒

  16. Avataaar/Circle Created with python_avatars Tymm Byrnns says:

    Hey Graham, have you seen the back of the West cash back world card, I just received an offer in the mail, seems like a decent rewards card.
    $150 bonus with a 0 intro apr.

  17. Avataaar/Circle Created with python_avatars Hopelessdecoy says:

    I work for one of these companies and I've always advocated for rewarding customer loyalty over customer acquisition. I'd like to see more rewards for consistent on time payments, low credit utilization and and relationship rewards (like using a trifecta all from our company is more effective than from multiple companies, or holding other accounts such as checking, savings and loans gets you bonuses).
    I still want there to be sign up rewards but much lower ones because people game the system and I think that's wrong, loyalty rewards can still be gamed but require so much more effort than sign buy cash out acquisition rewards.

  18. Avataaar/Circle Created with python_avatars Private Private says:

    This may have been a surprise to the banks that customers were figuring them out because, obviously, the general consensus is that businesses are smart and consumers are stupid. That’s because we, typically work for them and not the other way around. But, there are going to still be some smart consumers that will look for loopholes, that info spreads and as the Coronavirus Economy hits, it may spread more.

    I just came back from opening a checking account to churn (my very first one 💃🏽🙌🏽).

    One important thing to note is that, as I was looking through yesterday’s mail before I left, they sent another ad via mail that advertised the next signup bonus as being $225 ($75 less than the current $300 offered). Either the signup bonus thing is slowing down or being retracted because of the hit the markets have taken, due to the current Coronavirus Economy, even though it might be brief. Either way, it is less $$$. So, I will be scrounging around here for any other ads and looking online before any current bonuses expire and, possibly be replaced by lesser ones.

  19. Avataaar/Circle Created with python_avatars narutoyondaime14 says:

    I will comment for the youtube algorhythm. Also because Graham, keep doing what you're doing. I have learned so much from you and you really offer us valuable information. It's the LEAST we could do. Cheers 🙂

  20. Avataaar/Circle Created with python_avatars sk8er4lifeez says:

    This is one of your lower viewed videos.

  21. Avataaar/Circle Created with python_avatars IAmMzJess says:

    Credit card companies thought millennials would act like boomers

  22. Avataaar/Circle Created with python_avatars Kyro Vlogz says:

    This comment is solely for the YouTube algorithm 😉

  23. Avataaar/Circle Created with python_avatars whyurlapsmellsgood69 says:

    You’re right. It should be common sense…
    here’s to helping the YouTube algorithm!!
    Also, just a little test for myself: please like this comment if you really do read 100% of your comments xD thanks!

  24. Avataaar/Circle Created with python_avatars Cole Topping says:

    It’s sad to watch all the rewards go away when I’m just 11 and dreaming of having a good rewards credit card…… 😭

  25. Avataaar/Circle Created with python_avatars Andrew Plourde says:

    Damn, I was just going to start doing this 🙂

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