Does not being approved affect your credit?
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I’ve applied for 3 credit card, and wasn’t approved. Will it lower my score more because I wasn’t approved?
No it doesn’t
It may sound weird, but weather you’re approved or denied makes no difference score wise. Only thing that does is the inquiry itself made on your credit when you applied.
Every inquiry drops your score a couple of points. If you have too many inquiries in a short period of time then your score really takes a hit.
How many are “too many”?
There is no simple answer to this question. The credit bureaus compare the number of credit applications (hard inquiries) people with a similar credit profile to yours make to the number of inquiries you did. If you’ve made considerably more inquiries – your score will drop.
See too-many-inquiries.html for more information.
If you were denied the creditor is required by federal law to send you a letter (called adverse notice letter) stating your credit score and the report used to make the decision. With that information you can look up your report and find the reason for the denial.
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