Submitted by tidddyfricker t3_zzmn6x in personalfinance
After-District8811 t1_j2e5jh4 wrote
Churning can be great. It’s not for everybody. The banks are willing to put up with losing money on a handful of customers because the majority of people are not responsible enough and wind up getting sucked in.
It feels to good to be true but it is. IMO Now that churning has become so mainstream I think banks will scale back the bonuses as we get into a credit crunch over the next few years.
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