Does applying for a credit card affect my credit?

Yes. Every time you apply for a credit card, department store card, or any other type of credit-related card, an inquiry is made as to your credit status. This inquiry is noted with the respective credit bureau.

Although these inquiries will remain on the report for approximately one year, issuers are primarily concerned with the total number of inquiries over the last six months. Showing a handful of inquiries for that period is not critical. But issuers do become concerned if there are more than ten inquiries during that time. They interpret this as an indication that you are in too much need of credit, and thereby consider you high-risk. As a result, they will be less likely to issue you a credit card. It is therefore important that you do not apply for an excessive amount of credit cards in a six to nine month time frame unless absolutely necessary.

If you are ready to apply for a credit card, check out our Credit Cards section.

If you need credit-related help, visit our Credit Services section for information on credit repair, credit reports, credit monitoring, debt management, and loan services.