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charvey1231

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how much does it affect my credit score if I apply for a credit card
how much does an inquiry on my credit score affect the score

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I can't offer you a point value, but the real answer is "it depends." It really depends on if you are approved or denied. If denied you are left with a hard inquiry on your credit report for 2 years. It is not fatal to your credit score, unless you have a lot of hard inquiries, but each one hurts. For example, I only have 2 hard inquiries and CK gave me a B grade for it, so I assume they want 0-1.  On the flip side, if you are approved you have the hard nquiry, but your credit limit is extended and your utilization rate will decrease, which will result in a positive credit change.  Plus after time it gives more opportunity for more on-time payments.  Basically, don't apply unless you are confident you will get approved because the postive will cancel out or even surpass the negative from the hard inquiry.  Good luck!

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Reply by
JBirley15

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I also forgot to mention, if approved, in addition to the hard inquiry you will have regardless, your age of credit will decrease. but the amount it decreases will really depend on your current average, if you have several old accounts then the average will barely take a hit.

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Dirtdancer04

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I applied for a card for balance transfer through a recommendation by CK and said it was a very good chance. And I was denied. 

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