We may often hear people say, don’t apply for too many credit cards. Why do you say that? Will applying for multiple credit cards affect your credit score? Let’s find out together. .

Will applying for too many credit cards affect your credit report?

Applying for too many cards will affect your credit. When applying for a card, the card issuer will inquire about the personal credit record of the card applicant. Applying for multiple credit cards at one time will affect your credit report. Applying for multiple credit cards at once will leave a large number of query records on the credit report of the card applicant. If there are too many personal credit records in the inquiry record, it will affect the personal credit record. If the bank's risk control staff knows that card applicants are applying for credit cards in large numbers, and once the bank determines that the card applicants are customers who lack funds, they will certainly not issue any type of loan.

In short, in most cases, as long as the person applying for a credit card does not fail to pay back the credit card, the impact on the personal credit record will not be too great. It is worth noting that in daily life, it is easy to have overdue records caused by not repaying credit card overdrafts on time. There are too many cards, and each card is in an open status, making management difficult. Therefore, in this case, you need to brush a certain number or amount of annual fees for the fiscal year, which can easily lead to overdue payment.

What are the impacts of applying for multiple credit cards

1. Impact on the results of card application and loan application

You must know that the credit card application platform will not accept credit cards or loans when approving them. , will refer to the number and total credit limit of the cardholder. If a cardholder has too many cards and the total credit limit is too high, the bank will think that the current risk of the cardholder is too high and will not easily approve cards or loans.

2. Long-term credit extension can easily lead to higher liabilities. If the credit card is approved, there may be multiple credit extensions due to too many applications. For example, if there are credit card account opening records from more than 3 banks on the credit report, it is multiple credit extensions, which is not conducive to subsequent loan applications. In particular, many bank credit cards have overdrafts and large installments, which will increase the applicant's liabilities, which will affect the judgment of the applicant's repayment ability, and there is a great risk of overdue.

The above is the impact of applying for multiple credit cards. I hope this content will be helpful to everyone.