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handtomouth

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Why does applying for credit lower your credit score
I wanted to apply for one of the credit cards offered by Credit Karma. I was warned against it because it lower my credit score if I applied. Why is that?

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It makes you look needy.  Creditors want folks that don't necessarily NEED credit, but will USE credit wisely.  If you do a lot of shopping for credit, it appears you are having trouble managing your finances.  Not always accurate, but that's the way it is.

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The hard inquiry would lower your credit score by a few points. In time though, your credit score would rise if you put the card to good use while using it responsibly.

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Thanks tg191688.  That was very helpful.  I am content with the standing my credit is now.  I was just a little leary of transferring balances to another credit card and maybe damaging my good credit.

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