What is the impact of multiple credit card applications | finder.com
How multiple credit card applications affect your approval

How multiple credit card applications affect your approval

Why you shouldn’t apply for more than one credit card at a time and how you can improve your chances of approval.

When on the hunt for your next piece of plastic, it is wise to narrow down your choices early and apply for your most desirable card first. If you’re putting out multiple applications, it may actually decrease your chances of getting a new card.

Do your research with our credit card guide to learn how to carefully compare your options to be certain that the card you apply for is the right one.

How does a credit card application impact my credit file?

Each time you apply for a card, the credit provider dives into your credit report to see if you’d be a good candidate. Multiple inquiries into your personal credit within a short period of time can become detrimental to your credit score and will give future credit providers the impression that you’re a higher risk applicant, which would then likely cause them to reject your application.

Fortunately, the number of inquiries recorded on your credit report is only one of several factors considered.

How can I keep my credit file in good shape and improve my chances of credit card approval?coupleshutterstock

When it comes to improving your chances of getting a new credit card, a smart strategy is to keep your credit history clean and free from black marks.

Some of the steps you should follow to increase your chances of approval while maintaining a good credit history:

  • Make timely repayments. A sign that you are trustworthy with a line of credit is — you guessed it — paying your bills paid on time.
  • Avoid payment defaults. Defaulting on loan payments looks terrible on your credit report and could also lead to severe legal repercussions.
  • Don’t overspend. Learning to curb your expenses will benefit both your credit file and your finances in the long run.
  • Check your credit report regularly. Request your free yearly credit report and check that it is error-free. If you find something on your file that legitimately doesn’t belong there, contact the reporting agencies so they can investigate and rectify the matter.
  • Submit one application at a time. This will limit unnecessary hard pulls on your credit file. Choose the most suitable credit card, apply and wait for a response. If your application has been declined, consider applying for the next most suitable card.
  • Make sure you meet the eligibility requirements. Applicants usually need to be at least 18 years old, a permanent US resident and have a good credit history. You also may be asked to provide information about your employment and finances, so make sure you have the necessary documents to simplify the application process.

Learn more about improving your credit score

Compare credit cards

Rates last updated February 20th, 2018
Name Product APR for Purchases ( Purchase Rate ) Intro APR for Balance Transfer Annual fee Product Description
Barclaycard Arrival Plus® World Elite Mastercard®
17.24%, 21.24% or 24.24% variable
0% Intro APR for 12 months (with whichever is greater: $5 or 3% balance transfer fee)
$0 annual fee for the first year ($89 thereafter)
Enjoy 40000
bonus miles after you spend on purchases in the first 90 days — that's enough to redeem for a $400 travel statement credit toward an eligible travel purchase.
Luxury Card Mastercard® Titanium Card™
16.24% variable
0% Intro APR for for the first 15 billing cycles (with whichever is greater: $5 or 3% balance transfer fee)
$195 ($95 for each Authorized User added to the account)
Enjoy unique excursions, privileged access to exclusive events and insider opportunities.
HSBC Gold Mastercard®
12.24%, 16.24% or 20.24% variable
0% Intro APR for first 18 months from account opening (with whichever is greater: $10 or 4% balance transfer fee)
$0
An 18-month 0% Intro APR period on both purchases and balance transfers, plus zero foreign transaction fees, makes this is a strong well-rounded card.
Indigo® Platinum Mastercard® Credit Card
23.9% variable
$75 annual fee for the first year ($0 to $99 thereafter)
With this card you get a 23.9% variable APR.
Barclaycard Ring™ Mastercard®
10.24% variable
$0
A low, variable APR on purchases, balance transfers and cash advances.
Credit One Bank® Visa® with Free Credit Score Tracking
17.24% to 25.24% variable
$0 to $75 first year annual fee for the first year ($0 to $99 thereafter)
Get 1% cash back rewards on eligible purchases including gas, groceries, and services such as mobile phone, internet, cable and satellite TV, terms apply.
Credit One Bank® Unsecured Platinum Visa®
17.24% to 25.24% variable
$0 to $75 first year annual fee for the first year ($0 to $99 thereafter)
Give your credit a boost with credit line increase opportunities, a fee may apply.
First Access Visa Card
29.99% variable
$75.00 for first year. After that, $48.00 annually.
The First Access Card is a true VISA® credit card that does not require perfect credit for approval. Complete our easy online application now and get a response in as little as 60 seconds!
Simmons Bank Visa® Platinum
9.25% variable
$0
The Simmons Bank Visa® Platinum Card offers multiple perks, including one of the lowest available APRs on the market.
Credit One Bank® Unsecured Visa® with Free Credit Score Tracking
17.24% to 25.24% variable
$0 to $75 first year annual fee for the first year ($0 to $99 thereafter)
Get 1% cash back rewards on eligible purchase, terms apply.
Simmons Bank Visa® Platinum Rewards
11.25% variable
$0
Excellent Credit Required - Applicants that do not have excellent credit will not be approved

Compare up to 4 providers

Kyle Morgan

Kyle is an editor/writer who lives in Asbury Park, New Jersey. Exploring new places and hoppy beer are two of his favorite things. He doesn't discriminate against buffalo wings — grilled or fried are just fine.

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US Credit Card Offers

Important Information*
Luxury Card Mastercard® Gold Card™
Luxury Card Mastercard® Gold Card™

APR

16.24
variable

Annual fee

0 For the first year
More info
First Access Visa Card
First Access Visa Card

APR

29.99
variable

Annual fee

75 For the first year
More info
Indigo® Platinum Mastercard® Credit Card
Indigo® Platinum Mastercard® Credit Card

APR

23.9
variable

Annual fee

75 For the first year
More info
Barclaycard Arrival Plus® World Elite Mastercard®
Barclaycard Arrival Plus® World Elite Mastercard®

APR

17.24
TO
24.24

Annual fee

0 For the first year
More info
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