I already have 3 credit cards. Will getting a new one... - Other Questions

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Credit Card Applications » Questions » User Questions » Other » I already have 3 credit cards. Will getting a new one hurt my credit score?

I already have 3 credit cards. Will getting a new one hurt my credit score?

Answered on | Updated on February 17th, 2016
The content is accurate at the time of publication and is subject to change.

Getting one more credit card will definitely change your credit score in a positive or a negative way. The way your credit score will be changed depends on many factors. For example, a new card will increase your overall available credit and lower your overall credit utilization ratio, which is good for your credit score. A new credit account also means that your overall age of credit history will shrink, which will lower your credit score. However, opening a new credit card won’t significantly change your credit score and a couple of on time monthly payments should bring it back again. You can use our credit score simulator to see how your credit score can possibly change.

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