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>Just realize this tears up your credit score so don't go getting large 5-6 figure loans for cars/houses while doing this. What part of this tears up your cred
by Nicholas_C 11y ago
>Just realize this tears up your credit score so don't go getting large 5-6 figure loans for cars/houses while doing this.
What part of this tears up your credit score? The hard inquiries or the opening of new accounts? I may be buying a car in the next few months and now I'm a little concerned about opening up a new account or two for points.
- fweespeech 11y agoI'd advise getting any loan(s) you need in the next 2 years first, then doing this if you are going to. https://www.creditkarma.com/article/hard_inquiries_and_soft_inquiries https://www.creditkarma.com/article/hard_inquiries_and_soft_... Hard inquiries when you open the new credit cards. A number of companies have a threshold where it triggers a denial. Its a bit more complex than the credit score itself, for instance: http://milestomemories.boardingarea.com/chase-credit-card-churning-rules/ http://milestomemories.boardingarea.com/chase-credit-card-ch... > The 5 cards across all banks rule generally applies to authorized user accounts as well. So yeah, there are things in place to knock you down a peg if you do stuff like this. But so far, at 4 cards per year, I don't really run into issues.