Thursday, April 12, 2007

Can Your Credit Score Go Down If You Apply For Too Many Credit Cards?

Yes!

Applying for too many credit cards can lower your credit score. One of the aspects of your credit report/history that affects your credit score is your average account age or the average amount of time that you have had open accounts.

Each time you are approved for a new account, it reduces your average account age, since the new account has only just been opened. By opening several new accounts within a short time period, the average is decreased even more drastically, which can result in a lower score.

For more info and to order your credit report with FREE credit score please visit http://www.reliacredit.com

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Can Your Credit Score Go Down If You Apply For Too Many Credit Cards? ~ ReliaCredit.com - How's Your Credit? - Blog