How many points do you lose on your credit rating when you apply for a new credit card?

It depends on the rest of your credit report. Usually 2-8 points, although it could be more in some cases.





Lenders are looking for red flags to alert them to credit risks. They think that people who are trying to get lots of new credit all at once may be borrowing more than they should, so the risk rises and the score drops. If you have good credit, a long history, and you apply for one Macy's card to get the 15% discount that day, then you are probably OK. However, if you have been filling out every applicatio you can get and you don't have much (good) credit on your report to begin with - then watch out!

How many points do you lose on your credit rating when you apply for a new credit card?
Many "factors" are taken into consideration for each individual. It depends on how many inquiries you have on your report. For example: how many attempts at obtaining credit have you made recently, etc. Every time you fill out a credit application and the companies review your credit report that is an inquiry and it drops your score somewhat. Even if you are not approved, an inquiry goes on your credit.


Also, how many accounts you have, what are the balances? Are they revolving accounts? What is your income to debt ratio? Do you have any derogatories on your report, etc.
Reply:take into consideration that usually nothing really is lost but it depends on various things such as credit controll and membership warranty so i would say about 2 4 points oh big factor depends who your credit supplier is
Reply:o
Reply:2-5 points