What I don't know is at what point do you have TOO MANY credit cards (assuming all but one are at $0 balance.
Why do I care? Why would I do this?
Here's what I want to do. And this may be the only place on the internet that can help me.
- Open an amazon store card.
- Collect $30 amazon credit.
- Credit score takes a small hit for the credit check and the average length of my accounts going down.
- HOW LONG should you wait to do it again? Seems acceptable that you can open one card every 6 months for minimal impact, 12 months if you're worried.
- Repeat process for another card that has some 10% off or "free toaster" deal.
So what do you do? Cancel them? Leave them open?
Do you guys think there's a way for someone with a high credit score to use it to their advantage and get these signup bonuses without hurting themselves?
- Month 1 - open a new card #1
- Month 6 - open another #2
- Month 12 - close card #1, open card #3
- Month 18 close card #2, open card #4
Any thoughts are appreciated