- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
How much does applying for a credit card hurt your credit?
Posted on 7/28/14 at 8:57 am
Posted on 7/28/14 at 8:57 am
So a certain airline was offering 50000 miles if you get their credit card(enough for 2 roundtrips anywhere in US). I got the card but will cancel it as soon as I get the miles added to my rewards account. Will this ding my credit in any real way? I might start doing this more often, lots of freebies to be had from getting cards then cancelling cards soon after.
4
Posted on 7/28/14 at 8:59 am to Cosmo
From my own experience, every hard pull counts 2 to 5 points, but they drop off after a year or so.
YMMV
YMMV
Posted on 7/28/14 at 9:09 am to Cosmo
Over time it can hurt your relationship with the credit grantor.
You also need to look at your AAoA. If it affects this it will surely affect your credit score to some degree. If you have a long credit history with established accounts you really don't have to worry about AAoA.
You also need to look at your AAoA. If it affects this it will surely affect your credit score to some degree. If you have a long credit history with established accounts you really don't have to worry about AAoA.
Posted on 7/28/14 at 11:38 pm to Cosmo
Why cancel the card? Annual fees?
If no fees, leave it open. A 2 yr paid as agreed history is a score builder.
If no fees, leave it open. A 2 yr paid as agreed history is a score builder.
Posted on 7/29/14 at 1:03 am to Cosmo
quote:
I got the card but will cancel it as soon as I get the miles added to my rewards account.
id be careful about doing this as some cards will claw back the points(depends). Just wait out the year at least and you won't face this issue or pay the fee.
This post was edited on 7/29/14 at 1:04 am
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News