I have the BA Visa, and am considering the MP visa. Each come with bonus miles for sign-up. My question is this: If I sign up, collect the bonus miles, then cancel after a year, and sign up a month or so later, assuming the same T&Cs are in effect, will I get the bonus miles?

I know there is a negative impact on credit if one is constantly cycling through cards, but was just wondering. The T&Cs I've read thus far seem to indicate that it is ok, but I wanted to know if anyone has actually done this.

I've heard that there are some sort of renewal bonuses that are sometimes offered to cardholders, but the sign up bonuses seem to be far more generous.

Many thanks.