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Chasing bank rates and offers is one thing. Having or obtaining a rewards credit card or card bonus offer or two can also be reasonable.

However, chasing credit card bonuses is dramatically foolish. It is quite a detriment to your credit score to apply for multiple cards in a short time frame, the idea of multiple credit pulls alone is bad enough, not to mention the what having multiple open lines of credit can do, especially when it comes time to obtain a mortgage or re-fi.

I am not saying that if you receive an offer or see an application for a card and it has a good bonus offer and/or special rate and/or rewards, that you should not get it. That is your call, of course. Frankly, however, if you apply for several of these 'great deals' in a relatively short time-frame or do so perpetually you are, IMO, acting foolishly.