Would it cost me anything, or hurt my credit rating, to apply for lots of credit cards and never use them?

I'm a member of Ipoints, and I can get a lot of free points by signing up for various credit cards. I was just wondering if it would harm my credit rating to apply for about 5 credit cards at once and never use them.





I am going to order the cards and instantly cut them up.





Will this cost me anything/will my credit rating be harmed/will there be any other disadvantages?





thanks

Would it cost me anything, or hurt my credit rating, to apply for lots of credit cards and never use them?
Be careful with the points. You CAN'T transfer one point program to another point program credit card. You can do with some but then again you have to pay to transfer the points. Points expire every 5 years (depends on credit card). It's pointless for you to open too many credit card with available credit that you don't use. Eventually, the credit card company will close the account due to no activities.





Your credit score will drop. Besides, credit card company sees you have too much available credit, they only give you a small credit line because they think you have sufficient credit line. You may have a hard time getting a loan later on with too many cards that open.
Reply:not only will applying "ding" your credit becuase they will all check your credit when you apply, but having a bunch of open accounts, even with no balance hurts you. this is because when you go to get a loan or something later that you really DO need or want, they will pull your report AGAIN and see that you have all these open lines of credit. this makes them feel like you will be able to use all them to the limit and them giving you a loan is not a good idea. having too much open credit is sometimes worse than not enough. get a card you know you will use at a good interest rate.
Reply:When you get them make shure the don't have fees! then put $1 on each and then cut them up... pay off bills wait till the renew? and ask for lower apr rate 0% say... see what happens??
Reply:Each time you apply for a credit card, they check your credit rating. This causes your credit rating to drop. I cant think of any other disadvantages.
Reply:I would only apply for credit cards you will really use! It will damage your credit rating to have too many all at once and there wont be anything favourable in your credit report if you don't use them and pay the bills on time. The website below is called Credit Repair, but there is something here for everyone. Don't make any mistakes now you will have to fix later!

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