What happens to my credit score when I apply for a credit card?

When you apply for a credit card, your credit score will likely go down because most credit card companies will do a hard pull of your credit in order to evaluate your application. This hard inquiry may drop your credit score by around 5 to 10 points, which you can bounce back from after a few months of responsible credit use. There are a handful of credit cards that do not require a hard pull, and thus don’t hurt your credit score when you apply, but they are mainly for people with bad credit and are rare.

How Applying for a Credit Card Impacts Your Credit Score

1. You give the issuer permission to do a hard pull of your credit.
2. The issuer performs the hard pull as part of their evaluation of your application.
3. Your credit score typically falls by around 5 to 10 points.
4. You can rebound from the credit score damage within a few months by using credit responsibly. You should always pay on time (and in full if possible), as well as keep your credit utilization

You can learn more about credit inquiries and how to apply for a credit card on WalletHub. You can also get free daily updates to your credit report and credit score.