Are there any negative consequences to signingup for a credit card and then closing the account righ

I keep seeing people on campus offering free stuff like pizza, hats T-shirts bags etc for sining up. People sign up and then close the account when the card comes in the mail, or they just fake the application. Are there any negative consequences of doing this?

Are there any negative consequences to signingup for a credit card and then closing the account right away?auto financing

If you are doing it alot if can hurt your credit. Each time a person opens a card it is a small ding on your credit score. But from knowledgeable people have told me is that it is not a huge impact on your credit. Figure maybe 3-5 pts down if you open a card. so unless you do it 10x a year it wont hurt your credit much.

As far as closing it our right away, that wont hurt because will have no credit history with the bank. BUT it will help your score go back up if you use the card a little. Just spend like 50/month on it and then pay if off. That will easily make your credit score go up.

Are there any negative consequences to signingup for a credit card and then closing the account right away?

loan

Every time you apply (sign up) for credit of any kind, they can run your credit check. Too many credit checks within a certain time period will lower your credit score. %26quot;Too many%26quot; could be as few as 3 in three months.|||Yes - all credit checks and credit cards shows up on your credit history - to many hits and it%26#039;s a negative toward future credit!@~