Anytime you apply for a credit card it results in a hard inquiry on your credit report, but a single inquiry should only result in a temporary dip in your credit score of five points or less. Your score may also drop a bit when you get approved and open your account, as more of your disposable income will be “spoken for” by existing credit lines, but that’s only temporary as well and should not stop you. However, it is important to note that you will not be able to simply give your daughter your credit card. You will need to make her an authorized user so she has plastic with her own name on it. You can learn more about credit inquiries at https://wallethub.com/edu/credit-inquiries/17122/ , and authorized users at http://wallethub.com/edu/authorized-user/24717/ . Merry Christmas to both of you!
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