The most widely used credit scoring model is the FICO score by the Fair Isaac Corporation.  The position they take on a new credit card is that looking for new credit can be equated to higher risk but that should this risk factor impact your score it probably wouldn’t be by very much.  According to their model, new credit has a weighting factor of 10% of your overall score.  Within the new credit category, inquiries for credit such as new credit card applications are only a subset of this category.  Instead of applying for more than one credit card check the credit card services you want and find the best credit card to suit you.

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