I have heard of this before. I even met someone who claimed they they would do this with their high cash back cards and claimed to reap thousands in rewards with unlimited cash back. Even said they would open new cards to do this with they high dollar promo periods and high credit limits and would just do this while the promotion was active.
Claimed to have made thousands on it, maybe even 10s of thousands
I always wondered if your credit scorn would be all jacked because it would report this high to zero usage
> temporary impact on your credit score. Applying for multiple credit cards at once will reduce your score for a few months; if you will be applying for a mortgage, car loan, job, apartment, or other situation that requires a check of your credit, it is a good idea to stop all churning activity as far in advance as possible. Most conservative estimates recommend at least 2 years as "hard pulls" from credit card inquiries will fall off your credit report in 2 years.
> your homeowners insurance rate can be impacted by your churning activity, even though your credit score remains high. Your insurer regular does a soft pull on your credit, and they may increase your rate if there are a lot of new credit lines, even though your overall credit score and utilization may remain in good standing.
Claimed to have made thousands on it, maybe even 10s of thousands
I always wondered if your credit scorn would be all jacked because it would report this high to zero usage