- Credit Card
- Real Estate
I currently own a single credit card and am considering applying for additional cards based on their signup bonuses. (e.g. Amazon Rewards $70 cash bonus, Best Buy 5% cash back, etc. This is in addition to the benefits outlined in What are the reasons to get more than one credit card?
Ideally my plan would be to sign up for these credit cards, track my combined credit using a service like Mint, and set up auto-pay for my bills to avoid any possible late fees.
I know that credit card companies need to make profit somehow and that these rewards are specifically designed to entice financial novices like myself.
Are there any hidden drawbacks to signing up for multiple credit cards for their signup bonuses and reward programs?