Not exact matches
As a result, their
credit score plummets over the following months,
impacting interest rates or eligibility to
get a
card or
new cell - phone.
How does one number
impact the interest rate on your mortgage or auto loan, whether or not you
get approved for a
new credit card or apartment, and if you
get a job offer?
Applying for
new credit card accounts (or
getting any
new credit that entails having a
credit report pulled) can negatively
impact credit scores slightly in the near term.
How big of an
impact your score has on whether you can
get a
new credit card really depends on what you're applying for.
It will greatly
impact my
credit score removing the $ 8,000 available
credit from my overall usage as I have been
getting ready to start a
new business using some
credit along with available funds and a couple of smaller
cards have higher usage.
I often
get asked about the
impact on one's
credit score of churning or signing up for multiple rewards
credit cards, especially by those
new to earning a million or more frequent flyer miles and points via
credit cards.
In the latest podcast episode over at LifeTuner, we also talk about the
impact of
new credit card law changes, what sort of
new fees and other changes to expect from your
credit card company in response, and how to protect yourself from
getting burned.
Still, Rich says
getting a
new card every once in a while shouldn't have much
impact on your
credit.
However you do need to be careful in regards to how
getting new cards can
impact your
credit.