Multiple student accounts - freebie hoarding

xturn

Hi all,

I'm starting my first year of undergrad this year and will be opening a student account soon.

I was wondering if it is advisable to open an account in order to obtain its freebie and then subsequently close and move accounts in order to obtain another, eventually ending up with the "best" account in terms of overdraft interest etc.

It occurred to me that perhaps this may affect credit rating, or something else I barely understand, as these accounts all offer overdrafts.

In case what I propose isn't clear a hypothetical series of events would be:
1. Open a Santander student account and get a free rail card.
2. Once received the railcard, switch account to NatWest for example in order to gain a bus card.
3. Once received bus card, switch account to HSBC and get the amazon freebie.
4. Etc etc.

Would this have any negative effects I do not know about?

agrinnall

Don't spam by posting the same thing on multiple boards.