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Thread: Is it bad to open up credit cards for the miles awards only to cancel them?
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Old May 21, 2011 | 3:07 pm
  #2  
Zamboni Driver
 
Join Date: Nov 2010
Location: South NJ
Posts: 262
Originally Posted by andyacecandy
I opened the 50k continental card and I'm considering opening the 30k united card as well because I can combine them for 80k total miles (with their merger and all)

I'd use the 80k miles and then just cancel the credit cards. My credit score is good for all I know... but is this methodology really bad?

Open credit cards, get bonus miles, use bonus miles, cancel credit cards... Just looking for insight or thoughts (I'm really new to all of this)


Thanks!
You run the risk of being blacklisted if you get the card, get the bonus and cancel immediately afterwards. This would prevent you from getting bonuses in the future from the same card issuer.

My suggestion is you keep both cards, charge something to them from time to time, and then cancel them right before the anniversary date (which would trigger the annual fee).
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