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LadyK0193

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Is it bad to sign up for a Visa card and refinance a loan at the same time?
I just refinanced my loan which was great but I also want to finally get a regular Visa card. Is it bad to do both applications within a week of each other?

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Top Contributor
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While it will effect your average age of accounts, and with a new account, you'll have a slight reduction in your score which you can easily overcome in a matter of months.  I took out a new auto loan and a credit card application on the same day, the points I lost have long since been made up on my credit report.   In addition, the credit card can be an additional boost to your score as you have added another type of loan to your credit profile.   Just keep the Utilization down to 10% and you should be good to go.

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