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Credit cards

Started by Myshekeyla T.
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M

Ming C.

How long should I wait before I apply for another credit card such that my credit score will not be greatly impacted?

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Ashley M.

A general rule on how long you should wait between credit card applications is three to six months.

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Diandra J.

How much? Depends on the day, week, circumstance, etc. But I do pay for nearly EVERYTHING with a credit card because of the rewards (I pay off my statement balance or the card entirely every month). Haven't used my debit card in years.

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Elena B.

I put all of my variable expenses approximately $1000 per month on my credit cards which I pay off every month. With that method I am able to keep my credit score and also earn cash back rewards.

@Ming: Most hard inquiries will stay on your credit report for two years. Hard inquiries for mortgages and car financing will combine if done in a certain window, but credit cards do not. Generally more than two inquiries are considered excessive to the credit agencies.

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