Does applying for a credit card drop your credit score?
Yes it does. Any inquiry on your credit report can drop your
score up to 15 pts. You may want to do a little extra research
because I believe it use to be 5 -15. I recently just went through
a lot of issues and found 17 inquiries on my TransUnion account. I
had applied for a credit card online and the information was sent
to many different lenders. Be cautious with this and check your
credit reports for inquiries. Sometimes there are inquiries on
there that you don't even know exist. If this happens, you have the
right to dispute the inquiries the same as invalid information and
ask for them to be removed. According to Experian, each time a
potential lender pulls your credit report for review, an inquiry is
place on your file. Having inquiries on file does affect your
score, but the impact can be minimal. It wasn't minimal with
TransUnion in my case.