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mlehmann471

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does making credit card applications affect your credit score?

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yes its called a hard inquiry and every inquiry drags your score down five points....the inquiry stays on there for 2 years....but after 6 months of on time minimum payments and only using 10% of your credit limit your score should increase nicely 20 points or so....taking age of accounts into affect as well every time you apply for a new card it lowers your age of accounts which can hurt your score a touch till they even out again and catch up....so don't wait 2 years take out another card I reccomend taking them out 6-9 months apart from each other or 2 new cards at thee same time if you NEED them BOTH now or in the near future

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