How bad is it to keep applying for loans and/or credit cards if you keep being turned down?

Question

Does each time drastically affect your credit score?

Answer 1

Yes it does affect your credit score adversely.

Answer 2

If you are being turned down means you have BAD CREDIT or NO CREDIT. There is no point applying if you have bad credit for yes,each time you apply and turned down is in your credit history. Apply for a pre-paid credit card--the amount you pre-pay is the credit on the card-I don't think you can overcharge but whateaver you do not. For advice on how to fix the bad credit problem consult the organization that do this for free-can be found in the yellow pages---under consumer credit.

Answer 3

Each inquiry will hurt your score, unless you apply for all loans/credit cards for the same reason within a 14 day period. Plus, no lender wants to see 2 pages of inquiries.

Answer 4

It's not going to get you a "yes" answer after getting rejected time and time again. It makes you look desperate which is a red flag. You should get a letter in the mail with the reasons for denying you. Read the darn thing. You can send copies of the letter to the credit bureaus to get your credit reports (Experian, Equifax and TransUnion). Get copies to review them. There may be errors that are stopping you from getting credit. Get them resolved. It's free.

Answer 5

it does not affect your score, it just piles on the inquiries. some banks or finance companies don't like to see alot of inquiries.

Answer 6

"too many inquiries" is bad, request merger of inquiries.

Answer 7

You lose one point everytime you apply.
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