Does being rejected affect your credit score?

Every time you apply for a credit card, the credit card company reviews your credit history.  This is called a hard inquiry.  A record of this inquiry will remain on your credit report for up to two years.  It is normal to have a one or two hard inquiries a year, but what affects your credit score is multiple hard inquiries over a short period of time.  So be careful about applying for multiple credit cards in a short period of time.

Posted in Credit Cards |

about financialfootprint

financialfootprint offers objective personalized financial solutions through financial education for young adults and college students. Here at financialfootprint, our members can connect online and meet with their own personal finance expert, view easy-to-read content, access knowledgeable resources (take a peek at what else our members have access to), and so much more.

We provide guidance and education on topics such as credit cards, budgeting, college financial planning for students, employee benefits, understanding student finances, employee benefits, and other personal finance topics. We also provide useful tools such as budgeting worksheets (check out "The bÜdg"), student loan calculator and other helpful apps.

Subscribe Now