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wonderbly

VIP Member
Aug 26, 2020
3,875
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@wonderbly , since you're in Canada, have you looked into churning credit cards? It's has a pretty good return, if you're financially responsible.
I came across this concept on Reddit a while ago (even before coming to Canada). I don't think I could do that though - I fancy myself an upstanding person and although churning is not illegal per se, it kinda borders on unethical and morally questionable to me :).
 
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PRANIT01

Champion Member
Apr 12, 2021
1,332
1,499
Hey, no worries! I just wanted to share for the benefit of everyone. :p
What you said is right, I have a friend in US who made a lot of money with that but here is the issue
If you want a steady career growth you have to learn a lot especially if you are at entry level ,not only that you are wasting your valuable time to learn new skills which can give you permanent returns.

For example if you learning how stock market works,real estate or making a new product or even a you tube channel (for god sake not those desi channels about life in canada)-(you may not be successful)is a way better investment of time than this .

If you are single, plenty of time on hand,no kids,don't have to or want to learn new skills ,it is not a bad idea.
 
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cef09

Star Member
Aug 17, 2020
146
99
Category........
CEC
Churning is a lot more lucrative in the US for sure.

Yeah, I agree with that. When you're just starting it's always best to invest in yourself/career and climb the ranks (or job hop your way out) before looking into other possible avenues.

Churning does take time to learn, but as much with a lot of skills, you only ever have to keep up every so often, once you have a good understanding of how it works.

Yeeuppp, I'm the latter, no kids, no wife so I don't have a lot on my plate after work.
 
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D

Deleted member 994371

Guest
One word... Passport. Canadian passports opens a lot of possibilities for a lot of people.
Please spell it for me. All the Canadian passport does is open up many countries for visa less entry. What else is it good for.
 

GandiBaat

VIP Member
Dec 23, 2014
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@wonderbly , since you're in Canada, have you looked into churning credit cards? It's has a pretty good return, if you're financially responsible.
Won't it degrade your credit score if you do it repeatedly?
 

cef09

Star Member
Aug 17, 2020
146
99
Category........
CEC
Won't it degrade your credit score if you do it repeatedly?
It does affect your credit score but nothing significant as filing for bankruptcy or not paying debt.

As long as you're financially responsible, such as paying it off on time and keeping the utilization less than 30% (anecdotal). You will be fine.

One of the reasons churning can affect your credit score is because the average age of the accounts goes down as you open more accounts (Your credit score will go back up as the revolving tradelines mature). I guess you can slow it down a little bit when you're trying to buy big-ticket items such as a house mortgage.

Hitting the minimum spend requirements for the sign-up bonus is a no-brainer for the money you're going to spend anyway.

For example, applying for CIBC Aeroplan VI, you only need to hit $1,000 to earn 20k Aeroplan points + a buddy pass! A trip for two from YYZ-YVR costs 20.8k + $150 (Obviously, in economy). In cash it’ll probably cost around the $500-$600 mark so, not too shabby.

But if your net worth is north of $3.5m, it's probably not worth your time :p
 
Last edited:
Sep 16, 2021
16
7
Hi.. Need help! I'm currently in the US and going to apply for my H1B soon. My question is -in case I don't get my H1B .. Can I get a work permit in Canada without hurting my PR application? Legal falcon? Anyone?
 

GandiBaat

VIP Member
Dec 23, 2014
3,704
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NOC Code......
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App. Filed.......
26th September 2021
Doc's Request.
Old Medical
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None
AOR Received.
26th September 2021
IELTS Request
Sent with application
File Transfer...
11-01-2022
Med's Request
Not Applicable, Old Meds
Med's Done....
Old Medical
Interview........
Not Applicable
Passport Req..
22-02-2022
VISA ISSUED...
22-02-2022
LANDED..........
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It does affect your credit score but nothing significant as filing for bankruptcy or not paying debt.

As long as you're financially responsible, such as paying it off on time and keeping the utilization less than 30% (anecdotal). You will be fine.

One of the reasons churning can affect your credit score is because the average age of the accounts goes down as you open more accounts (Your credit score will go back up as the revolving tradelines mature). I guess you can slow it down a little bit when you're trying to buy big-ticket items such as a house mortgage.

Hitting the minimum spend requirements for the sign-up bonus is a no-brainer for the money you're going to spend anyway.

For example, applying for CIBC Aeroplan VI, you only need to hit $1,000 to earn 20k Aeroplan points + a buddy pass! A trip for two from YYZ-YVR costs 20.8k + $150 (Obviously, in economy). In cash it’ll probably cost around the $500-$600 mark so, not too shabby.

But if your net worth is north of $3.5m, it's probably not worth your time :p
Typically, I have seen outsmarting the system is done more for fun... I mean sometimes, I still like to rip books from google books for old times sake.. It feels fun..
 

GandiBaat

VIP Member
Dec 23, 2014
3,704
2,990
NOC Code......
2173
App. Filed.......
26th September 2021
Doc's Request.
Old Medical
Nomination.....
None
AOR Received.
26th September 2021
IELTS Request
Sent with application
File Transfer...
11-01-2022
Med's Request
Not Applicable, Old Meds
Med's Done....
Old Medical
Interview........
Not Applicable
Passport Req..
22-02-2022
VISA ISSUED...
22-02-2022
LANDED..........
24-02-2022