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Question By
ska27

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Is it okay for my credit score to get a credit card for 1 year to get the rewards, then close it?
I'm starting to travel a lot for business and looking to build miles with a particular airline by getting their rewards credit card, but it doesn't seem worth it to keep this card after a year or so because of the annual fee (and lack of continuing bonus miles). My Transunion score is 750+ but my Vantage score is only 775. I don't plan on churning, but I do have a handful of hard inquiries in the past 2 year (auto loan, etc..).

Would the credit inquiry hurt more than the increase in credit limit will help? And is there any disadvantage to only keeping a credit card for 12-24 months?

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Top Contributor
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Inquiries only count fo 10% of your credit score, and they only count for 1 year, so I really don't sweat those (especially with your score).  Why not get a card with no annual free and great rewards?  Have you checked out all that are available?  I use Amex Blue myself, but compare all at either www.creditcards.org or www.bankrate.com.  You can have the best of both worlds, I have 5 cards and never paid a fee for any of them.  

Top Contributor
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I would definitely close the card. annual fees are bs. i would suggest opening the new card before you close that account. more utilization way more important than an inquiry.

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