How much my credit score can drop if I shop and apply for a new credit card?
what does this 'somewhat'
what does this 'somewhat' mean? Listen, if you can't manage your 2 credit cards like a pro, then you shouldn't be taking out a new credit card now. What if the offers are good? At the end of the day, you have to manage those cards and pay your bills. If you can't, then you'll be trouble. You'll be in debt.
Hard inquiry will be imposed on your credit report when you shop around for several credit cards and it will affect your credit score by less than 5 points. The impact can be more when you have a short credit history.
It is a hard inquiry, so, it
It is a hard inquiry, so, it will be marked on your credit report. It can affect your score by 4 points. However, the thumb-rule is you have to pay the bill in full and within time. Sp, make sure you can afford more than one cards.
Submitted by Sanders Patricia on Mon, 07/22/2019 - 04:03
Having credit cards
Having credit cards definitely help to increase the score. However, if not managed properly, it can reduce your credit score. So, make your decision after considering it carefully.
Shopping for new credit cards
Shopping for new credit cards will be considered as hard inquiry and will be marked in your credit report. Normally it will affect your score by 4-5 points. But you may improve your credit score by following few steps.
But tell me first what kind of offer you are getting from the credit card providers? Is it worthy taking the risk?