Results 1 to 9 of 9

Thread: Does applying for credit cards and getting rejected for them lower your credit rating

  1. #1
    Advanced Member
    Join Date
    Nov 2000
    Location
    wilkes barre, pa
    Posts
    826

    Does applying for credit cards and getting rejected for them lower your credit rating

    Just wondering if anyone knows if simply being rejected for a card will make your report look worse or lower your rating.

  2. #2
    P/T Pagan God thepieman's Avatar
    Join Date
    Nov 2003
    Location
    Brooklyn , New York
    Posts
    13,400
    If you show that you have a lot of applications it hurts. I don't think getting rejected does but if you apply to a lot of them it will show up on your record.


    Pie
    SG Pimp Name : *Treacherous P. Shizzle*
    *
    The fight for our way of life needs to be fought on our own soil, for our own people and because of our own interests.
    *
    Hey, If Me & My Buddies Were Making Billions of Dollars I'd Tell Ya What Ya Wanted To Hear Too!

  3. #3
    Got Alizee? ScottE's Avatar
    Join Date
    Dec 2001
    Posts
    16,861
    No, but as thepieman said having a lot of inquiries will look bad.
    Respect it.

  4. #4
    Advanced Member
    Join Date
    Nov 2000
    Location
    wilkes barre, pa
    Posts
    826
    ok well heres the thing, bout 18 months ago i was seeing a girl working at a loan company and i apply for cards all the time for promotional junk, and she printed out my report and there was nothing on it at all. just my basic info

  5. #5
    P/T Pagan God thepieman's Avatar
    Join Date
    Nov 2003
    Location
    Brooklyn , New York
    Posts
    13,400
    Quote Originally Posted by velvta
    ok well heres the thing, bout 18 months ago i was seeing a girl working at a loan company and i apply for cards all the time for promotional junk, and she printed out my report and there was nothing on it at all. just my basic info
    What about your credit score? Did she check that? I would think it hits that and lowers it. Spammy and Izzo would probably know best since they deal with credit reports and collections.

    Pie
    SG Pimp Name : *Treacherous P. Shizzle*
    *
    The fight for our way of life needs to be fought on our own soil, for our own people and because of our own interests.
    *
    Hey, If Me & My Buddies Were Making Billions of Dollars I'd Tell Ya What Ya Wanted To Hear Too!

  6. #6
    MadDoctor Club Spammy's Avatar
    Join Date
    Dec 2000
    Location
    MadDoctors Wool.
    Posts
    1,721
    Everytime you get your credit ran yes it will lower your score , However mlike Pie and ScottE said it's a matter of how many that depends on how much your score will be affected.
    - Reps for being a smartass.
    SG Sh!!t List

    Bouncer, downhill, John, Kip Patterson, Roody, YeOldeStonecat, Ken, Philip, David, Indy, Noevo.

  7. #7
    Dr Tweak mnosteele52's Avatar
    Join Date
    Jul 2001
    Location
    Chesapeake, VA
    Posts
    11,912
    Actually, it's against the law for it to lower your credit rating. Years ago a law was passed to stop it from happening so that consumers could apply for multiple mortgage loans at a time to find the best rate and not have their beacon scores affected.


  8. #8
    An inquiry alert does not look favorable ... and depending on what the rest of your credit history looks like .... yes it could and probably has had an impact on your score....people with oodles of inquiries are normally 'fishing' for credit ..

    when applying for a mortgage or a car these days they usually consolidate the inquiries to be just from the original requestor ... of course this does not always happen

  9. #9
    Got Alizee? ScottE's Avatar
    Join Date
    Dec 2001
    Posts
    16,861
    Quote Originally Posted by mnosteele52
    Actually, it's against the law for it to lower your credit rating. Years ago a law was passed to stop it from happening so that consumers could apply for multiple mortgage loans at a time to find the best rate and not have their beacon scores affected.


    That only applied to morgage applications as far as I know.
    Respect it.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •