Student Credit Card and Credit Education Blog

Following my last post, where I discussed different cards new grads can apply for, there’s a part of doing so  that you should most certainly be wary of. And I’m not talking about six figure credit limits.

Every time you apply for a new card, your credit score is looked at by the card’s bank. They need to do this to see how it fares with regards to the requirements of the card your applying for. And everytime they check your credit, your credit score takes a small, temporary hit. Therefore, you should be careful of how many cards you apply for. Unlike shoes or pairs of jeans, you don’t get “refunded” for the dips in your credit score even if you are rejected for a card. It’s not worth applying for 10 cards at one time, as your credit will be in total disarray. This can cause future problems if you need your credit score for any upcoming purchases, including potential emergencies.

Your best bet is to choose one card, which makes sense for both your credit and your goals.  Give that one a shot - you can usually find out your acceptance fairly quickly. If you get it, congrats! If not, find another one and send over a completed application.