How bad will my credit report be affected if I open and close a credit card?
Moris asked:
When I go shopping, the store asks me if I want to save xx% off my purchase by signing up for a credit card. How bad will it affect my credit score if I sign up to get the discount. Pay it all off right away and canceling right after that? My first credit card received was in 2001 and I never plan on cancelling it.
How bad would it affect my credit score if I do it often?
Sara
When I go shopping, the store asks me if I want to save xx% off my purchase by signing up for a credit card. How bad will it affect my credit score if I sign up to get the discount. Pay it all off right away and canceling right after that? My first credit card received was in 2001 and I never plan on cancelling it.
How bad would it affect my credit score if I do it often?
Sara
Tags: Bad Credit, Credit Report, credit score
September 21st, 2009 at 7:47 pm
If you do it often, it will have a negative effect. What shows is a record of frequently applying for new credit.