If i get approve for a credit card will that bring down my credit score?

JESSIE G · #1 09-07-2007, 01:25

I been thinking of getting a credit card but i wanna know if i get approve for a credit card will that still bring down my credit score.

Etta P · #2 09-07-2007, 07:26

No, obtaining a credit does not adversely effect your credit score long term. It may bring it down for the first 90 days due to it being "too new to rate". Be careful applying multiple times as lots of inquiries would certainly bring your down your credit score. hope this helps

rlloydevans · #3 09-07-2007, 07:35

When you first apply you could take a small hit if you've done a lot of applications the previous 12 months. Also, when you get the credit card you take a short term hit (3-12 months, depending on your credit) because your POTENTIAL debt to income ratio is higher. (ie, you can borrow more against the card with no notice to make it harder to pay your debts.)However, after you've had the card, and established a good record of paying it off, it becomes an overall positive after about 3-12 months.

traffic814 · #4 09-07-2007, 07:55

U lose one point for every 3 cc u open-----------------------------------http://www.bestcreditrates.net

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