Hi, I just recently bought my car out of a lease. I heard that in 14 days if your credit is pulled it will not affect your score as much. I was thinking of applying for another card due to I’ve improved my credit score by 150 in the past year. Would if be ok if I apply for a credit card while this going on? I have 2 other cards from when I had a lower score, just wondering if it would be good to get a new one with lower interest? I have low debt on my other ones and can pay those off easily, just figuring what could be the best idea?
I am not sure it is a great idea to continue applying for new cards and then winding up with balances on those cards. It may, however, lower your credit utilization rate which is a good thing.
You can always try to negotiate a lower rate on the cards you already have.
When applying for auto loans or mortgage loans, you can apply at as many lenders you want, within a 45 day period, and it only show one credit inquire on your credit report.
This is not true for credit cards, personal loans, lines of credit. These will show each inquiry separately which if done in a short period of time, can adversely effect your score.
So if you do want to apply for a new credit card, put in an application with one that advertises a low interest rate. And go from there.