Originally Posted by
kryten22uk
Does applying for credit cards that you dont need (and end up cancelling after a month or two) harm your credit rating? I'd give this a go, but not keen on damaging my status.
I'm sure it's a risk, and the advice info on the credit rating companies' websites as well as moneysavingexpert.com point out that too many applications in a short time (whether successful or not) may indicate somebody in trouble and possibly a poor credit risk.
As I'm on the points accelerator* with my AmEx plat giving me 1.5 MR points per £ (which was effectively 3 BA Miles per £ for a short time), I'm giving this new opportunity a miss. £400 or so across two cards (OK, three with the grandfathered BA AmEx) could lead to diminishing returns.
* Sadly no longer available to new applicants