How to Apply for Credit Cards Without Hurting Your Credit Score

Applying for credit cards shouldn't hurt your credit score by more than just a few points--as long as you don't overdue it. Each time you apply for a card your credit will be checked by the card company, resulting in a credit inquiry. The fewer inquiries on your report the better, according to the website myFICO. Applying for multiple credit cards all at once, or even over the course of a year could significantly hurt your credit score as it creates a perception that you're loading up for a spending spree or taking on more credit than you can afford.

Instructions

1

Get a copy of your credit report. Reviewing your credit status will help you avoid applying for cards that you aren't qualified for. Order your credit report for free from the website Annual Credit Report (see Resources). View and print your report from the website or see instructions on the homepage to order by telephone or mail. The Annual Credit Report site was created by the three nationwide credit bureaus to offer free credit reports as required by the Fair Credit Reporting Act.

2

Order your credit score separately for a nominal fee by following instructions included with the report you receive through Annual Credit Report. You will be able to order your score directly from any of the three nationwide credit bureaus. Knowing your score is important as you seek to create as few credit inquiries as possible. For example, if your credit score is less than 620--generally the cutoff for "good" credit--you may be better off applying for department store or gas station cards than a full-featured bank credit card.

3

Compare credit cards by reviewing marketing materials from your bank or credit union, or online at credit card comparison websites (see Resources). Note any minimum qualifications, such as household income levels.

4

Apply for a single card. Wait several months--or longer--to apply for another. MyFICO says a single credit inquiry will hurt your score by less than five points. Thus, a drop in score of one or two points is really insignificant.