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applying for new credit card

Date: Wed, 03/16/2011 - 20:47

Submitted by anonymous
on Wed, 03/16/2011 - 20:47

Posts: 202330 Credits: [Donate]

Total Replies: 1


I am planning to apply for a new credit card. Will it reduce my credit score? If so, then by how much points?


Hi!
Welcome to the forums!
Yes, it is true that applying for a new credit may lower your credit score by some points. However, it won't have a drastic effect on your credit score in the long run. It is difficult to say about the precise number of points you'll loose without knowing about the credit score model you're following. However, I can tell you this much that the drop will be not much.


lrhall41

Submitted by Good Nelly on Wed, 03/16/2011 - 21:53

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