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Permanent or Temporary?

Established Member

Permanent or Temporary?

If I apply for 2 credit cards, will this bring my score down?

Amex Green Card, U.S. Bank Platinum $2,000, U.S. Bank Line of Credit $1,500, BoFA Visa $500, C1 $500
Message 1 of 6
5 REPLIES
New Visitor

Re: Permanent or Temporary?


garci349 wrote:

If I apply for 2 credit cards, will this bring my score down?


Yes it will permenantly destroy your credit!  just kidding!   When you apply for a new credit line the inquiry will hurt you 2-5 points on average. Also new credit lines will lower your Average age of accounts. If you have a solid credit history it's nothing to worry about really. The scores rebound will rebound pretty quickly.

Message 2 of 6
Established Member

Re: Permanent or Temporary?

Haha !

 

Rebound?

 

Amex Green Card, U.S. Bank Platinum $2,000, U.S. Bank Line of Credit $1,500, BoFA Visa $500, C1 $500
Message 3 of 6
Highlighted
Established Contributor

Re: Permanent or Temporary?

Rebound as in go back to where they were prior to the app. Give it a few weeks to a couple of months and the few point ding will be gone. 

Message 4 of 6
Frequent Contributor

Re: Permanent or Temporary?

Sometimes an inquiry won't hurt at all

I think I just have so much credit and small balances that it balances out the inquiries

Starting Score: 601
Current Score: 670
Goal Score: 700


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Message 5 of 6
Established Contributor

Re: Permanent or Temporary?

Temporary

Message 6 of 6