Come and discuss anything related to personal finance, directly or indirectly, with other Canadians!
My friend, you need to google "churning".
https://princeoftravel.com/newbie-guide/
I have 7 credit cards right now and cycle them regularly. Check /r/churningcanada for their credit card recommendation sticky thread.
To answer your question, no you wouldn't take a hit beyond the initial credit inquiry when you get the card. Just keep an eye on your rating with something like credit karma.
I've heard of churning but I was told that it can ruin your credit score. How has 7 cards affected your acceptance rate?
It doesn't. You take a tiny hit if someone does a hard inquiry, but it won't do anything major AS LONG AS YOU PAY YOUR SHIT OFF.
If you can pay your balance every month, go for it!
My card has a $150 annual fee but I get like $800 in cash back per year. Pretty easy one to say yes to
Your spending must be quite substantial! I'm genuinely curious to learn which credit card provides such impressive cash back rewards. Are there no annual maximum limits on the rewards?