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prettyleodia

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If I dont' get approved for a credit card how will that affect my credit.
I would like to get a credit card to improve my credit. However if I get turned down will that drop my current credit score?

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Top Contributor
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Appling and not getting approved,

Can drop your score 50 points.  If you don't have any credit cards and you are trying to build credit, you may have to start with a secured card.  I suggest that you try with your Credit Union or bank that you do business with first. A secured card requires that you deposit funds into a savings account that the card is attached to. Usually the limit on the card will be the same as the amount that you deposit into the savings.  once you have a history, usually 6 months, with a good payment history, then you can move on to better options for credit. 

Good Luck

Top Contributor
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Your score will always drop a bit (I don't think 50 points, but can't say for sure) any time you apply for credit, because the potential lender is pulling your credit report and inquiries count for 10% of your credit score.  Whether you are approved or not doesn't matter.  A good website for comparison on credit cards is www.creditcards.org, you can compare all available with rates, fees etc.  

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