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Anonymous
Anonymous asked in Business & FinanceCredit · 1 month ago

If I get turned down for a credit card, does it affect my credit score?

I’d like to get a Chase Sapphire card. My credit score is 710. I have a $50k income. I also have $55k in federal student loans ($250/month payment plan) and a $175k mortgage. 

4 Answers

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  • Anonymous
    1 month ago
    Favourite answer

    About 10 points lower for 3 months whenever a HARD-PULL is done. 

    Applying for credit is a HARD-PULL. 

    rejection is not the problem, only HARD-PULLS

    For 700+ credit scores, you don't want more than 4 HARD-PULLS within any 24 months period.

  • Anonymous
    1 month ago

    Applying for credit dings your score  approval or denial does not

  • 1 month ago

    Applying for a credit card ALWAYS affects your credit score.  The effect is the same (a small reduction for a year) whether or not you are turned down; being turned down has no additional effect beyond the affect that applying has whether or not you are turned down.

  • 1 month ago

    Just the hard inquiry is counted.

    There is nothing special about the Chase Sapphire Card.  

    You want to be paying your educational expenses for 18 years?  RIDICULOUS!!!

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