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There are an overwhelming amount of credit cards on the market. Companies compete to attract consumer attention by touting compelling reward programs and sign-up bonuses. Credit card churn is a strategy consumers use to gain the maximum rewards and other benefits from these companies.

Racking up points or cashback with this strategy may seem tempting, but it’s essential to understand the risks. The churn strategy is potentially damaging to your financial well-being.

Read the full article in the Finances FYI section of The Seattle Times, sponsored by 1st Security Bank.