[nunez]

One more: /r/CreditCards on Reddit is an awesome resource for finding excellent credit card deals. Banks offer amazing sign-ups deals in the hopes that you'll carry a big balance in perpetuity. Taking the bait and paying off your card every month is basically free money!

Don't get sucked into churning, though. It's high risk for very low reward.

[positr0n]

What’s high risk about churning besides the risk of wasting your time?

Forgetting to pay a bill with all the accounts you are juggling then wiping out your gains with one late fee?

[itake]

You must follow the rules exactly. Easy mistakes include:

For credit card:

- not meeting spending targets to earn signup bonuses

- not utilizing all the cards benefits (For example, discover requires you click a couple buttons to activate 5% reward.

- minimum points redemption (must have > x points to convert to cash)

- Forgetting to redeem points before closing the account.)

For checking/savings rewards:

- not meeting direct deposit targets

- not maintaining an account balance

[nunez]

That's exactly it! Got to have the discipline to make sure those balances stay at zero.