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I met a retired guy during a trip in Peru who was travelling the world using airmiles acquired by signing up with free credit cards. Credit card companies woul

I met a retired guy during a trip in Peru who was travelling the world using airmiles acquired by signing up with free credit cards. Credit card companies would offer a few hundred air miles when he signed up. He would then simply cancel the cards a month later. He said that often when he called to cancel cards, he would be offered additional air miles incentives to prevent him from cancelling. He would keep the card an additional month when that happened.

driverdan 13y ago
That's very common. It's one of the first things travel hackers do when they get into it. Card signup bonuses are worth $500-1000 and generally require a minimum spend of $2000-5000. Not much effort for free money.
- hobo_mark 13y ago
  Every time I read these stories I wish this would also be possible in Europe.
- hobo_mark 13y ago
  Every time I read these stories I wish this would also be possible in Europe.
- hobo_mark 13y ago
  Every time I read these stories I wish this would also be possible in Europe.
ljoshua 13y ago
I've read about this before. My primary question, however, is wouldn't this put some big dings in your credit rating? The average age of accounts would go way down, the credit checks would go up, and your allowed debt to income ratio would be all over the place. Or does none of that happen?