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Is it bad to open new credit cards?

Is it bad to open new credit cards?

Is it bad to open new credit cards?

Typically, when you apply for a new credit card, the card company will do a “hard pull” on your credit so they can see your credit history. These hard pulls are noted on your credit report, and too many of them can hurt your score. Not every card does a hard pull though. Fizz, for example, doesn’t check your credit at all.

Typically, when you apply for a new credit card, the card company will do a “hard pull” on your credit so they can see your credit history. These hard pulls are noted on your credit report, and too many of them can hurt your score. Not every card does a hard pull though. Fizz, for example, doesn’t check your credit at all.

Typically, when you apply for a new credit card, the card company will do a “hard pull” on your credit so they can see your credit history. These hard pulls are noted on your credit report, and too many of them can hurt your score. Not every card does a hard pull though. Fizz, for example, doesn’t check your credit at all.

Apr 6, 2023

•

Sam Lipscomb

•

6

min

While it’s true that a hard pull can hurt your score a little bit, they’re not that big of a deal. Hard pulls and new lines of credit only account for a small percentage of your score, and they’re very low impact. Plus, hard pulls are typically scrubbed from your credit report after about 2 years.

As a general rule of thumb, you shouldn’t let hard inquiries on your credit keep you from applying for credit cards, other loans, or even apartments. I can’t recommend that you go crazy with applications, but a few hard pulls over the course of a few months or a year aren’t going to be the end of the world. The impact on your credit score is minimal, and it’s much better to focus on making on-time payments and keeping utilization low than it is to focus on hard pulls.

Sam Lipscomb

Author bio

Sam is a Kenyon College alum and is head of content at Fizz. He's been a go to personal finance resource among his peers since getting his first credit card during his sophomore year of college. He hails from Washington, DC, loves all things aviation, and currently lives in Los Angeles.

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The first card by students,

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© Fizz Inc. © 2023 All Rights Reserved.

ShoulderTap Technologies Inc. d/b/a Fizz (“Fizz”) is not a bank. Banking services are provided by Patriot Bank, N.A. Fizz Mastercard Debit Cards (“Fizz Cards”) are issued by Patriot Bank, N.A. pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of Fizz’s services are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of Fizz’s services are offered and managed by Fizz, not our bank partners.

Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®, Transunion®, and Equifax®.For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the ShoulderTap Technologies Inc. d/b/a Fizz Consumer Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.

Testimonial Disclaimer: Review provided by customer to ShoulderTap Technologies, Inc. d/b/a Fizz directly. The comment above is related to individual experiences or results. Individual results may vary.

The first card by students,

for students.

Company

About us

Resources

Ambassador program

Media kit

Support

Help center

Policies

© Fizz Inc. © 2023 All Rights Reserved.

ShoulderTap Technologies Inc. d/b/a Fizz (“Fizz”) is not a bank. Banking services are provided by Patriot Bank, N.A. Fizz Mastercard Debit Cards (“Fizz Cards”) are issued by Patriot Bank, N.A. pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of Fizz’s services are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of Fizz’s services are offered and managed by Fizz, not our bank partners.

Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®, Transunion®, and Equifax®.For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the ShoulderTap Technologies Inc. d/b/a Fizz Consumer Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.

Testimonial Disclaimer: Review provided by customer to ShoulderTap Technologies, Inc. d/b/a Fizz directly. The comment above is related to individual experiences or results. Individual results may vary.

The first card by students,

for students.

Company

About us

Resources

Ambassador program

Media kit

Support

Help center

Policies

© Fizz Inc. © 2023 All Rights Reserved.

ShoulderTap Technologies Inc. d/b/a Fizz (“Fizz”) is not a bank. Banking services are provided by Patriot Bank, N.A. Fizz Mastercard Debit Cards (“Fizz Cards”) are issued by Patriot Bank, N.A. pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of Fizz’s services are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of Fizz’s services are offered and managed by Fizz, not our bank partners.

Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®, Transunion®, and Equifax®.For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the ShoulderTap Technologies Inc. d/b/a Fizz Consumer Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.

Testimonial Disclaimer: Review provided by customer to ShoulderTap Technologies, Inc. d/b/a Fizz directly. The comment above is related to individual experiences or results. Individual results may vary.