Is it true if i apply for a credit card and get rejected, my credit score will be lowered?
I want to apply for an American Express Blue Cash card. I’m 21 and I don’t know my credit score as of right now. I have one credit card right now with 0 balance from Bank of America. Should I apply for the AMEX card?
amex has to be paid in full each month-good way to get behind quickly.
an inquiry will lower your score,not the rejection.
If you apply for a credit card, your credit score will be lowered, immediately, even before they decide whether to approve or reject you. Merely applying for credit lowers your score.
That being said, the rejection does not lower your score further.
check your credit history first & correct any mistakes
There is a misconception on whether each inquiry lowers your credit score. It does not! If you are applying for multiple credit cards at one time then yes it will affect. If you get rejected it wont and if you get approved it can increase your score as it will show a credit line with 0 balance until you use it. Same with buying a car, if you are shopping around and have multiple dealerships pull your credit, as long as its within 45 days it only counts as 1 hit on your credit and doesnt affect bad. Also goes for shopping for a mortgage.
Also, I am pretty sure the Amex blue doesnt require you to pay off balance in full every month.
Not exactly, however if you apply for too many credit cards in a short period of time and be rejected then yes, your credit score might be affected. Try waiting 6 months to apply for a new credit card if you were rejected before. But as of right now id say try it.
Yes, applying for ANY type of credit will lower your score.While most lenders understand if your shopping for a car or mortgage so they won’t hold the excessive inquires against you (and they all show up individually). Applying for one CC will lower your score whether you get it or not. But its barely enough to notice… Maybe 3-10 points. If I were you I would find out what my score is first then check out sites like or to see if you fall within a good range.
To answer the question should you apply for the AMEX… That’s a question only you can answer. It depends on what purpose you need that CC to serve. And please don’t get caught up the ‘brand name’ of the card. Search around and find a card that truly meets your needs.
Yes it is true! Especially if you have more than one application at a time.Do not apply for another card, you do not need it. If you are out to lift your credit score, first find out what it is and then consider other types of credit to raise your score. This can be from a furniture store or a small loan. Too many credit cards makes you appear irresponsible and many inquiries on your report makes creditors feel that you are either in desperate need (higher interest rate) or living beyond your means. One inquiry now and then is no biggy, but unless you are seriously interested do not apply.At your age, be smart and you will be very glad later. Establish a history of paying all your bills on time, including utilities and medical bills and your current card. This will pay off for you in the future.