As we all know, for many small partners with poor qualifications, it is not a simple matter to apply for a credit card, which is often rejected by banks. Then at this time, many small partners will spread their nets widely and apply for credit cards from many banks at the same time, but they were all rejected in the end. What are the adverse effects of applying for a credit card so many times?

What are the adverse effects of applying for a credit card many times?

The bank applying for a credit card will check the applicant's credit report. Every application, the bank will check it once, and every time it will leave a query record in the credit report. The query reason is "Credit Card Approval". In a short period of time, the credit report was inquired by many banks, and the most direct consequence was to spend credit information.

If you apply for a credit card frequently in a short period of time, leaving too many inquiry records after being rejected, the bank will think that the applicant's motivation to apply for a card is not pure, so it is better to use the credit card money to fill the fund vacancy, or think that the applicant lacks repayment ability, thus increasing the probability of being rejected.

The most important thing in a loan is the repayment ability of the applicant. If the applicant frequently applies for a credit card and does not apply for a card, the bank will think that the applicant's financial strength is not strong and question the applicant's repayment ability. In order to prevent risks, the next loan amount will be reduced or rejected directly.

The above is a series of effects caused by the failure to apply for a credit card many times. You can refer to it Generally speaking, it is best to apply for a credit card several months after being rejected. Don't apply for credit cards from multiple banks at the same time!