Getting a card just for the miles?
Jul 18, 2005 | 7:27 pm
#1
Original Poster
Join Date: Jul 2005
Posts: 1
Getting a card just for the miles?
I got an offer in the mail for the Citi AAdvantage World MasterCard which gives 12,500 miles and has no annual fee for a year. I know that cancelling a card is supposed to lower your credit score because your available credit is reduced, but wouldn't getting a new card increase your score? So if one were to get a new card, make a purchase, get the miles, and cancel less than a year later would the net credit score go down? Thanks for any help.
Jul 18, 2005 | 9:51 pm
#3
Join Date: Feb 2005
Programs: DL DM, UA 1K GS, Marriott LT Titanium, Hilton Gold, Avis Chairman, Hertz PC, National EE
Posts: 637
Your net credit score will generally go down, since inquiries adversely affects them. However, as long as you don't have a lot of inquiries, then you should be fine. Just don't apply for a half dozen credit cards for the bonus miles or points and then cancel as many inquiries within a small timeframe will lower your credit score. Inquiries remain on your report for 2 years.