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Question By
Mayson88

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How badly does a new credit card rejection effect my credit score?
I have 3 different credit cards and two store credit cards, one of my credit cards is Discover credit card. I was encouraged to apply for Discover credit card again, (it seems we can have up to 3 different Discover accounts). When I applied for the Discover second time I was rejected. It is not reasonable, they encourage people and then reject them. Now I want to know the bad effects of this rejection. Thank you in advance.

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The rejection doesn't matter.  You take the hit for the hard pull when you apply whether you're approved or not.  If you're rejected then you only take the hit from the hard pull.  If approved you also take a hit to average age of accounts.  The credit limit may or may not help utilization depending on the specifics of your situation.

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