Originally Posted by
ddfr
Just wondering...there is an offer out there which I /my family has found very appealling. As a result, my wife and I have done 5 apps (and now gotten 5 approvals) on the card and are using our home address for all 5 apps as the other people (each app was done for a diff person) don't want to be bothered with the offer and simply, in effect, allowed us to get the card in their name, do the spend (with the secondary card), pay the bills and then reap the benefits. We are then planning on cancelling all 5 card accounts when the ann. fees are due in a year.
I was just wondering if by doing this I am setting up any kind of problems with the credit card companies as they will see 5 cancelled accounts (diff people) at the same address in a year. Is this something they look at?
Any feedback would be very much appreciated.
It sounds like you are treading on very thin ice. If the other people, whose names you used do not live at the same address where you sent the cards, the card companies could accuse you of fraud. When you filled out the app. you in effect swore that the info on the app was truthful. If you misrepresented the info, they could cancel the cards and flag your credit reports. Sometimes getting points is not worth the risk. You also might want to get permission for getting cards in their name, in writing, or you could also be accused of identity theft.