Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
natethegreat223

1 Contribution
0 People Helped
Just opened a new chase card account, now I have 20 inq. Will Chase close account in the future?
I just got approved for a Chase Freedom with a $500 cl, but while doing that, I went on an App-o-Rama and ended up with all these inquiries and new accounts. My score tanked. Will Chase get wind of this and close my account????. I love my Chase Card and don't want to lose it. I went form a TU 705 to a 630.....Im scared!!!!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
119 Contributions
1099 People Helped
Most Helpful Response

Helpful to 4 out of 4 people

Credit sevicers will not close your card just because your score dropped. Although the hard inquiries stay on your credit for 2 years, they actually only effect your score for 1 year, so in 1 year from now, all othe things constant, your score should shoot back up. Something to keep in mind next time you do this is have your research done ahead of time. Make a list of all of the places you want to apply and do them all on the same day or within 2 weeks of each other. There is a thing called "rate shopping" which as long as you apply to several like servicers (meaning only credit cards, only auto loans, only home loans etc) within 14 days only 1 of those 20 will actually hit your credit score, the rest will just be listed. This provides consumers the ability to shop for the best rates without taking credit hits.

Reply by
natethegreat223

1 Contribution
0 People Helped

Thank you for taking the time to respond to my question, you where very helpful!!

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.