I wonder what Weird Al Yankovic would have to say about that. "I churn rewards day and night, living in a Fico paradise..." Sorry, couldn't help it
Just out of curiosity, I noticed your Chase Freedom is a MasterCard. Is it a World Mastercard?
My Chase Freedom is technically a World MasterCard but it is not marketed as such. Chase does not participate in the World Elite program, although they do have Visa Signature on that side of the Freedom fence. I didn't specifically ask for a MasterCard but it came out of a product change from the original Chase MasterCard my wife had had since 1998.
As for the wisdom of churning, well, I came to these boards with a specific set of goals.
1. To find a 0% card my family could load up a fair amount of balance transfer debt ($28K worth)
2. To determine which cash reward cards to either product change or acquire with the goal of savings money on purchases we already make.
3. To increase our overall credit limit to give us long term flexibility and better our long term credit scores.
In the end, I got lucky in that the Penfed PRV card solved three problems in one card...balance transfer, large CL and cash rewards. After that I picked targeted cards based upon what Quicken told me what our category spending was for 2012. We identified groceries, restaurants, drugstores as major categories. I wanted strong "rotating category" cards so we chose to product change our Chase Slate to a Freedom, and look at Discover (a card I used to carry in the 90s). And finally, I realized from my data that "non-category" spending was the largest single thing we could put on credit cards. That made getting a 2% card a priority.
So it worked out like this:
Amex BCP (Groceries),
Penfed (Gas + Groceries)
US Bank Cash + (restaurants)
Discover (rotating, ShopDiscover)
Fidelity Amex (2% everything else)
Chase Slate->Freedom (rotating)
BofA World MasterCard->Cash Rewards (used for stores not accepting Fidelity Amex, we get a small 10% bonus for BofA being our regular bank)
Unchanged: Amex Platinum
You can easily see my priorities. A lot of the churn from credit card initial offers are in the travel card side of the house and I don't own any travel cards save my Amex Platinum which serves that function well. I don't need to be chasing 40K miles with the Chase Sapphire Preferred when I already have 500K miles at Delta right now since I travel for a living. I easily accrued 150K miles last year alone without doing anything special. I don't need to do credit machinations to get the next trip to Cancun.
This app spree for me was very out of the ordinary and I do not expect to ever repeat it. My wife is already uneasy having 8 cards in the family and trying to remember what card to use for what purchase. But I do estimate that I will save about $2500 next year in rewards accrual. That for me is worth the extra work.