The phrase
"temporary ding" means a small, temporary damage or dent.
Full definition
If a hard inquiry is the answer, consider whether it's worth that
temporary ding on your credit score — especially if you're about to apply for a mortgage or car loan.
It's also important to remember that applying for a new credit card or loan is considered a hard inquiry, which can cause a slight,
temporary ding to a person's credit score.
Honestly though, not paying federal taxes is a lot worse than
a temporary ding on your credit score.
Even one new card can cause
a temporary ding to your credit score.
If opening a new card fits into your long - term plan, don't let
the temporary ding stop you.
Plus, transferring a balance to a new card shouldn't hurt your credit score much, minus
the temporary ding of a hard pull of your credit, and may even help your credit score due to lowered credit utilization with the additional credit line.
Though your credit score could suffer
a temporary ding when you apply for a new card, in the long run adding a card can help your score because you will have more available credit.
A new application does create
a temporary ding on your credit score, which is unfortunate, but temporary is the key word.
Fortunately, she remembers that
this temporary ding of a few points is quickly offset by the positive influence of additional credit types, payment history, and utilization.
Opening a new account will give
her a temporary ding here, but she'll get even more of a boost from her good utilization and payment history.