| Will joining credit cards affect my credit score? |
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perfectionj
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| Will joining credit cards affect my credit score? |
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Will joining credit cards affect my credit score?
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Fri Jun 29, 2012 4:58 am |
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littleroc02us
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You know that is a good question, I cancelled all of my credit cards 5 years ago and am a joint user on my wifes Discover just so that I show up as a credit user and have a score. She uses it for gas and I do also occasionally. After doing so my credit score went down to something like 694, but 5 years later I'm around 800. We always pay our bills on time and are never late on our mortgage so both of our scores are just fine.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Fri Jun 29, 2012 1:48 pm |
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fast
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| Re: card |
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quote:
Originally posted by brown
if you apply for new credit card then the score automatically improves.
Credit scores do not increase as a result of applying for a credit card. In fact, ceteris peribus, applying for a credit card will likely lower a credit score, at least minimally.
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Sun Jul 01, 2012 1:54 am |
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asapcc
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Not sure what you mean by "joining" a credit card...
If you mean applying, as "fast" mentioned, your credit score will drop slightly when initially applying for a credit card. But in the long-term, it will help you establish, build and improve your credit profile. With regular, on-time payments your credit score will improve over time...
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Tue Jul 03, 2012 4:16 am |
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Grace_P
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Location: London, UK
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As a rule, getting a new inquiry on your credit report, you lower your credit score, although, as far as I am aware, there could be exceptions. Anyhow, you better not apply more often than once in half year.
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Tue Jul 17, 2012 1:34 pm |
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