TL;DR - I’m interested in freebies like airline credits. I’m responsible enough not to overspend to fulfill the requirements, and utilize them. Will doing this too much harm my credit, and does anyone have experience with it?
This is an idea many people have exploited before, and one I’ve considered for a while. I know people personally who have done it, but am not close enough to have asked them how it affected their credit.
A bit of history. I primarily use credit cards for all my purchases to easily track finances (the act of balancing my checkbook month to month helps keep me more frugal, accounting for every purchase with every receipt). As a result I have quite good credit. I don’t want to trash my credit just for a few benefits. But despite my frugal nature my weakness is experiences and vacations with friends.
I’ve heard opening cards and using them only for the benefits they pose (flight miles, cash cards, etc.) works well, and would help great with airline costs. But I know closing cards, or having too many lines of credit that are not utilized, can both mess with credit. Does anyone have experience with this that they can share?
Thanks in advance fellow frugal friends!
April 16, 2019 at 05:56PM
