<prompt> Human: Hello! Hopefully quick question: Are there any adverse affects to obtaining a new card for a sign up bonus, and then either cancelling or letting that card go inactive and likely cancel later? Specifically, I just received a 150 cash reward offer from Bank of America after spending 500 within 90 days. I already have a BoA card open, so I wouldnt have to track new credentials. I also currently use my credit card for every purchase I can to gain rewards and also pay off every month. I figure I can hit 500 within a month, pay off, get my reward non-trivial amount of cash and cancel. I currently have an 800 credit score and have no upcoming credit purchases already own a home, cars, etc. Will cancelling my card in short order adversely affect my credit score? Any other repercussions Im not thinking of? Id love to take advantage of these offers as they come by. Straight cash to fill out a form and just pay off the credit would be awesome. Thank you!  <response>: Dont cancel the card. It has no annual fee, so just let it live on in your sock drawer, maybe putting something small on it every once in a great while if you really want, or not. Theyll close it eventually. I just got the same offer, but I JUST opened one of their damn cards with a 100 sign-up bonus. Then they send me the new offer for the SAME card with a 150 sign-up bonus. Not cool!FYI, the Chase cards have great sign-up bonuses, but Chase is picky about how many cards youve applied for over a 24 month period. They allow 5 applications in 24 months for ANY cards, not just theirs before theyll start denying you. So if you want to chase no pun intended some sign-up bonuses on several cards, get those Chase cards out of the way first and then start hitting up some of the non-Chase cards. Both Freedom and Freedom Unlimited are fee-free cards with 150 bonuses after 500 spend, just like BoA. At least they were the last time I checked. Barclaycard CashForward sent me a mailer for an offer too: 200 sign-up bonus after 1,000 spend. I do this all of the time. Ive signed up for 8 credit cards over the past 9 months. Ive only canceled one of those due to its annual fee. I kind of rotate through the others depending on what goal Im trying to hit. Right now Im concentrating on my Chase trifecta Freedom, Unlimited, and Sapphire Preferred to build Ultimate Rewards to help pay for some upcoming travel expenses. Ill switch to Discover soon, since they match all my cash back in the first year and have good 5 categories. And Ill probably give my Barclaycard another run since Ive got 10.47 in cash back on that one and cant get to it until its at 50. Anywho. No harm in opening cards for sign-up bonuses. Just make sure to pay the statement in full each month and enjoy the free money! Sign-up bonuses alone have earned me 950 in cash, a 200 gift card, and 3 round trip Southwest tickets since September. 