- hobbez
- Mar 1, 2012
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Don't care. Just do not care. We win, you lose. You do though, you seem to care very much
I'm going to go ride my mountain bike, later nerds.
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It's non trivial work with some things to consider.
First, opening a new account reduces the average age of your credit history, which hurts your credit score. Hard inquiries do as well, but less so. Also, if you don't intend to keep the cards closing an account hurts your credit score.
Cards with annual fees can quickly add up. Read the terms carefully about inactive accounts as well.
When I looked into this, it's possible to do this but it's a lot of time spent and there are landmines everywhere. At the end of the day, it's not worth it IMO, unless your time is worth near zero.
Cancel the cards with big fees after using the bonus.
From what I’ve heard the credit impacts are negligible. Probably stop if you anticipate needing a new mortgage in the next year or two but otherwise you really have nothing to lose
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Jul 26, 2021 05:45
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