This step can be a little intimidating if you’re new to credit as it invites new questions, like: Does having multiple credit cards hurt your credit or help it? While having more credit cards can help increase your credit score, a more reliable strategy is to focus on responsible ...
If you miss payments or max out on credit utilization, for example, you could hurt your credit score. That’s why monitoring your credit with tools like Chase Credit Journey®is helpful—you can track your credit score, receive score refreshes and strategically set goals and meet them to he...
When you apply for a credit card, it usually involves a hard inquiry, also known as ahard credit check. Hard credit checks typically lower your credit scores temporarily. The Consumer Financial Protection Bureau (CFPB) explains: “These inquiries will impact your credit score because most credit-...
A lost or stolen credit card should not hurt your credit score as long as you take the proper steps as soon as you realize your card is missing. Early detection is key to avoiding financial impact. Being proactive helps protect yourself from the harmful effects a lost or stole...
Debt consolidation can hurt your credit if you continue to rack up debt. Learn how to use debt consolidation as a tool to lower your debt and help, not hurt, your credit.
1New bank accounts and credit checks 2When opening a bank account can hurt your credit score 3When switching a bank account can hurt your credit score 4Does your credit score really matter? 5When to avoid a bank switch 6Are multiple bank switches a bad idea?
Does closing a secure credit card hurt your credit score? What is the difference between secured and unsecured credit cards? Here's the best credit cards for building your credit history The best credit cards if you have bad credit Never had a credit card before? Here's the best starter ca...
Credit scores are based on formulas that take multiple contributing factors into account. The time it takes to raise your credit score depends upon the reason(s) that your score is lower in the first place. The longer your accounts are open and in good standing, the better it...
Auto lenders may allow you to shop around for rates without negatively affecting your credit score if you make all inquiries within a short time frame (typically 30 days). When multiple inquiries are made in a short period, they’re usually counted as one for scoring purposes, which helps li...
When an issuer cancels a card, you lose the credit history and the credit line, which can hurt your credit score, even though the card can stay on your credit report for up to 10 years. But I decided it was time to make a change: a product change. I wanted the Bank of America...