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maravega

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will my score go down if I apply for a credit card and got denied.

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Denials are not on your credit report

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Yes, your credit score will go down slightly if you apply for a credit card that preforms a hard inquiry of your credit report (approved or not) and the inquiry will be listed in your credit report for 2 years.  The amount it will decrease depends on your current score; i.e., the higher your score already is, the more it will drop.  However the act of denial or approval will NOT affect your score because your credit report will never say you were "approved" or "denied” when you applied.  Your credit report will only show that you authorized someone to check your credit report.  This act drops your score because when someone has multiple credit card requests on their credit report, it is typically viewed as someone in trouble financially.  (so a good rule of thumb, is to never apply for more than 2 credit cards per year to keep the number of inquiries lower.)  However with that said, if you are approved for credit, the new credit line will show up about 2 or 3 months later and your credit score could take some time to build that new credit line up with a positive history of on time payments.  Meaning that after about 6 months of good payment history, the amount your credit inquiry caused your score to drop will be washed away with the positive information of on time payments causing your score to go up slightly.

Please thumbs up if this helps.

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