- Sign Up now for FREE!
- Already a member? Log In to your account.|
- How It Works|
- FAQs|
- Help
Credit Advice
Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!
Question
Share this question with others:
I want a lower interest card but I'm worried it might affect my home loan application. Advice?
I have about six credit cards with 0 balances on all but one. The one that does have a balance has 4K on it and the interest rate isn't great. How will opening a new card and doing balance transfer change my score? I want to purchase a home soon.
Asked by
DuelleMarley
2 months ago
Flag this Question
Best Response
What’s been voted most helpful!
Opening a new credit card will temporarily lower your credit score due to the hard inquiry associated with the credit application. Depending on what your existing score is it may be as little as 3 points or as much at 25 points.
chuyskywalke 2 months ago
1 response
- Prev
- 1
Reply To This Question
The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.
Let the community lend a hand!
3 Most Recent Questions in Credit Scores
I'm sure my score was over 800. What dropped it to 758?
1 Response
Asked by SAMSRUN
under Credit Scores
Credit Card Offers Just For You
These are the most popular credit card offers from Credit Karma members with credit similar to yours.
Public Savings Bank Secured Visa
- Build credit history – we report to all 3 major credit bureaus
- 0% APR on all purchases for the first 6 months
- No annual fees or monthly maintenance fees
Orchard Bank Classic MasterCards
- Acceptance at millions of locations worldwide, including website purchases and reservations
- Your account information is updated and at your fingertips 24/7 so you can manage it your way
- Email and text messages to remind you of your upcoming payment due date with online enrollment
Capital One® Secured Mastercard®
- Automatic reporting to the 3 major credit bureaus
- Track credit with access to your credit score and other tools
- You may qualify for credit line increases with no further security deposit required
Opening a new credit card will temporarily lower your credit score due to the hard inquiry associated with the credit application. Depending on what your existing score is it may be as little as 3 points or as much at 25 points.
chuyskywalke 2 months ago