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!


Posted in Credit Cards
Profile Image

Question By

0 Contributions
0 People Helped
Why did applying for a credit card knock my score down 3 points?
I applied through credit Karma's recommendations. I feel betrayed.

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

View your scores and reports anytime.

All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
4 Contributions
3 People Helped

Nunya has the best answer EVER!

Helpful to 1 out of 1 people

That was the most direct, and helpful answer EVER!

Top Contributor
184 Contributions
386 People Helped

Increase your credit knowledge

Helpful to 1 out of 1 people

Credit Karma makes money off of the advertisements you see through the website.  There are TONS of disclaimers listed all over the website telling you this.  As a result, you see recommendations based on your credit profile AND their paying advertisers that want your business.  But as Credit Karma doesn’t actually make the offers, you are applying through the banks that advertise here.  Soft checks to your credit (like the soft check performed by Credit Karma) don't show up in the calculations used to make your score.  But credit checks preformed when you apply for a credit card is known as a hard check and show up in your credit score because the lenders want to know if you are in financial trouble and are applying for credit with everyone.  So your credit score will drop with each application simply because you applied, regardless if you are approved or not.  Hard Credit Inquiries stay on your credit reports for up to 2 years, so be sure you are ready for the credit cost of applying for a new credit card BEFORE you apply.

 A few more tips to help you when considering getting a credit card to improve your credit are:

·        If you have fair credit, then you should avoid applying for cards that require good or excellent credit, as a denied application will not help you.

·        Never apply for a credit card without reading the complete terms of the card first!  Everything in the terms are related DIRECTLY to the card you are applying for.  When reading through the terms of multiple cards; don’t assume the terms are the same on each card simply because the cards are being offered by the same company. 

·        You should also be aware that some products can cost you more over time, and you need to determine whether the benefits are worth the cost. That includes cards with less favorable terms, such as those that carry a monthly fee or lack a grace period.

·        Be sure to consider whether reward cards that earn points, miles, or cash back serve your needs best, as some of these cards will have higher interest rates than other non-reward cards.

·        Finally, if you're thinking of applying for a card with an annual fee, weigh the benefits of that card, as there are plenty of cards for fair credit that have no annual fee. In addition, those with fair credit may not need to consider secured cards, since they can typically qualify for a standard card.

Results 1-2 of 2Results 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.


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.