How To Earn An Extra $213 a Month This Summer

Maximizing welcome offers from Capital One, Chase, and Wells Fargo to earn an extra $640 in passive income this summer

5 min readMay 30

Photo by Stephen Phillips - Hostreviews.co.uk on Unsplash

Capital One, Chase, and Wells Fargo are each offering credit cards with welcome bonuses of $200 dollars. Each card requires a low spending threshold of only $500 to unlock its bonus. Paired with cashback offers, the Capital One SavorOne Cash Rewards Credit Card, Chase Freedom Flex Credit Card, and Wells Fargo Active Cash® Credit Card make it easy to earn an extra $640 in passive income this summer.

The best part?

You don’t even need to be the one spending that $500.

When churning credit cards, enlist the help of your friends. On road trips, use your card to pay for gas, at dinners pay for the entire bill with your card, and on vacations use your card to pay for the room. Then, just have your friends pay you back with cash using Venmo, Zelle, or Cash App.

Your spending does not need to increase for your earnings too.

Credit card churning is the process of opening cards to collect a large welcome bonus and then canceling the card once that bonus has been earned.

The process involves applying for a credit card, getting approved, meeting a minimum spend within a set amount of time, earning a large welcome bonus, and canceling the card before the next annual fee is due.

Once this is complete, the process is simply repeated again and again, hence the term churning.

Credit card churning does affect your credit score, but not as much as one might think. Prior to submitting my applications for these 3 credit cards, my credit score was 816. After submitting these applications it was 806. Only a 10-point reduction.

This summer I plan to earn an extra $213 a month in passive income by churning credit cards — here’s which ones and how: