Credit cards - can you take one out just to get the freebie they're offering and then cancel the card without ever using it?

[TinkyWinkyGwerth]

Is it that simple?

Amazon keep offering me some sort of credit card and if I am accepted for it I'll get a £100 Amazon voucher. Which would come in very handy with one of my DC birthdays approaching!!

I have an excellent credit rating according to 2 credit check things I'm signed up to and have a credit card already with a £5k limit that I've used precisely once (to pay for some flights so I'd get credit card payment protection) and paid off immediately.

What's to stop me applying for this card, spending the Amazon voucher, and cancelling the card a few months later? I don't need or want the credit so would definitely not be tempted to use it!

F

This was 20 years ago now but in Fresher’s week I signed up for a Barclaycard for the free popcorn maker. I still have the popcorn maker somewhere but I never used the card

But did you use the popcorn maker??? 🍿

It depends on the terms of the card.

Some include terms that day you need to spend so much in a specific time period to get the freebie

This one appears to be saying you get the freebie on your application being approved

@TinkyWinkyGwerth

But did you use the popcorn maker??? 🍿

All the time in my youth! I don’t now, I prefer using a pan because it makes nicer popcorn. Plus it sent popcorn flying all over the kitchen so it was a bugger to clean up after

Dh did once, in a shop. He was offered 10% off expensive purchases if he signed up for the card, told them he didn’t want it, he’d only cut it up straightaway, but they evidently didn’t care, so he got it anyway, got his 10%, and cut the card up.

Yes it really is that simple. If you're disciplined and keep a good credit record, you can make quite a bit of money out of it.

It's not as good as it used to be, because you can't do it for the interest any more, but in the past, as well as getting vouchers, I've borrowed money interest and fee free and put it into savings accounts paying up to 5% interest or more.

@countdowntonap

F

Just a quick question, but what does this mean please?

I've seen a few posts where the poster has just posted F or possibly another letter, without further explanation.

F for following. It’s a way to bookmark a thread.

Yes, I did that to buy a camera before Christmas. Very helpful. You have to buy the things on the card, but I paid off immediately and now it just sits there. I've no intention of using it again.

@Galassia

F for following. It’s a way to bookmark a thread.

Ok, thanks.

I did wonder if it was somehow rude, like a shorthand version of 'FFS, do you not have anything better to do with your life'.

Not that I think that about the OP. As I said, I've made thousands over the years by exploiting offers like this. But in these low interest times, all I can manage now is gambling my mortgage overpayment money on Premium Bonds, but I'm still winning by a considerable margin.

OP, what's the Amazon offer if you don't mind me asking? All they want to give me is £20, which I can't be bothered doing - over the past few months I've closed down just about all my extra cards and accounts and won't bother opening any new ones unless I can make at least £50 out of the deal.

On the matter of credit cards in general, it is OK to use them and it benefits your credit file to do so, as well as other advantages like purchase protection.

All our household spending goes on a cashback card and is paid off in full every month. As well as simplfying our bank account - only one transaction comes out each month, not dozens, we get over £100 a year in cashback.

Teenagers use F to mean sympathy, sometimes in a piss-take way. Originates from gaming I think.

Excellent, I'll be applying for that tonight then

It's some sort of Amazon business card for those who asked. I run a business and buy some supplies through Amazon when that's the cheapest option so maybe that's why they're offering it to me?