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Hurts your creditCredit Reporting - Credit Reporting
| Hurts your credit Don't apply for too many things because that shows up on your credit. Many people don't realize applying over and over for credit cards hurts your credit. You should only have your credit ran 3-5 times max per year. |
| That is true. That tells creditors that you are high risk for overspending, and even though they like you to use your credit to make purchases with, they dont want you to overspend and file for bankruptcy. |
| That's good to know. My sister just graduated from college and has no credit whatsoever. She started applying for some credit cards just so that she can attain some type of credit history. I'll forewarn her about not applying to too many. |
| Yes your right is takes I believe 4 months for your credit rating to start to raise again. This can really hurt you if your trying to finance something big. |
| Hi! Some unrequested advice: limit yourself to one or two credit cards. Any more is just irresponsible, and can get you in trouble! Manage one or two well, with responsibility, some people are on a permanent shopping spree! |
| If you can manage one credit card well you can manage 10 well. The problem isn't the number of credit cards you have, but your management of them! |
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