facebookIs jumping credit cards for their bonuses wrong? Will it affect my credit score in the long run? And if so, how do I increase it back? - Seedly

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Izz Adli

04 Mar 2020

โˆ™

SeedlyAMA

Is jumping credit cards for their bonuses wrong? Will it affect my credit score in the long run? And if so, how do I increase it back?

Will changing cards often affect my credit score? How will this impact future card/loan applications?

Discussion (3)

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Rais M

04 Mar 2020

Accountant at SME

I had signed up mutiple cards over the last 3 years to take advantage of the sign up bonus. And each time, I downloaded my credit score. Nothing happened and I remain in AA.

Additonal info: I still have multiple installment payment over these 3 years and I also pay my outstanding credit card statements on time.

I believe the key point here is to always pay your outstanding credit card bills on time. As long as you do so, your credit score will not be affected.

There is no right or wrong... but the thing is unless you are really a big spender , you canโ€™t possibly use all the cards.
( i use credit card like debit cards)

As Long as you paid up on time, it wonโ€™t affect.

Andy Sim

03 Mar 2020

HR Professional at a Financial Institution

Hi Izz, I've always advocated to apply credit cards only when you need it or there's occasional very...

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