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hey /biz/, i've got an idea. What if I sign up for a ton

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hey /biz/, i've got an idea. What if I sign up for a ton of credit cards with sign up bonuses (x cash back if you spend $yyyy in your first z months), dump all that money onto coinbase, cash in the reward, and then cancel the card? Is there anything fundamentally wrong with this plan? (coinbase has a 3.75% charge for card transations, but I think I'd be making up for this with most of these sign up bonuses)
>>
Just get giftcards. No fee.
>>
I'm not super knowledgeable on this but I think getting many cards in a short period of time will plummet your credit score and you won't be allowed to get more than a few.
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>>>/a/
>>
>>1781119
Paying back the credit along with interest fees
>>1781124
This, your score gets dinged every time you apply for a card
>>1781123
I think the point is to invest without any actual capital first, otherwise they could just use a debit card
>>
>>1781123
oh, that's a much better idea.

>>1781124
my credit score is above 800 now, I can afford to take a bit of a hit
>>
>>1781126
I would immediately pay back all of the credit so it wouldn't accumulate any interest. I have actual capital, I just want to also get the sign up bonuses without actually wasting my money on stuff I dont need.
>>
>>1781131
I see nothing wrong with this then
>>
Don't forget to claim any capital gain on your taxes also

>>>/a/
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