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Question By
spaceman24

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EARLIEST INQUIRY AFTER LOAN APPROVAL
I recently got approved for a $5,000 loan to pay off three credit card accounts. Does anyone know the earliest time I can apply for a new credit card?

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Take your time and build slowly. Wait 6 months to a year before applying for another card after you just receive a loan. Your score will go up and you are already building good payment history if you focus on paying off this loan first. Good luck my friend.

Reply by
spaceman24

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Thank you for your help! Regarding my credit card utilization, will that percentage be lowered because the loan payed off those debts?

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