Any drawbacks to signing up for a credit card for the points bonus and then canceling in 8 months before the annual fee kicks in?

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It hurt your credit to close cards. Just don't use it at all but keep the line open. Try to sign up for cards without annual fees or get enough rewards our of them to at least break even the annual fee

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It's fine. It doesn't hurt to close newer cards, but you want to keep your older account open.

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I want to get the SPG Amex just for the signup bonus. I currently only have 1 other active card if that matters

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It certainly can impact your credit score. One main factor of credit score is average length of account. Opening and closing constantly will hurt this. Check credit karma

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SPG is great! Only 65 bucks a year (first year free). If u pay for one night wth the points earned from that card, u made ur money back and then some.

I do it all the time. I plan my big ticket purchases to get the introductory offer from new cards. So I do one or two new cards a year.

They'll revoke the points often, if the card is not held open a year.

Never heard of or experienced such a thing.

I did this last year for the AA 50,000 point bonus and canceled after 10 months. Didn't pay any fee and kept the miles.

Not sure if it's a good habit though. My other card has been open 4+ years

Never heard of points being revoked. You just have to transfer them to another card you have open in the case of chase, citi, Amex. Cobranded points go to that other account so the cc couldn't revoke them if even if hey wanted to. SPG Amex is $95 annual fee now not $65

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