 TITLE: When Should I Apply for Another Credit Card? CONTENT: What Happens When You Apply for a Credit Card\n---------------------------------------------\nNew credit inquiries account for 10% of your credit score and stay on your credit report for two years.\nWhile hard inquiries have a negative impact on your score, the effect you'll see depends on the number of accounts you have and the length of your credit history. If you have a limited credit file, you'll likely see a bigger impact. One hard inquiry results in a drop of less than five points for the typical consumer, according to FICO.\nIf your application is denied, lenders must tell you why and provide information on how to access your free credit report. It's possible the lender determined you have too much debt compared to your current credit limit, that you don't have a long enough credit history, or that you have too many missed or late payments.\nContact the lender if any of your circumstances have changed since you applied for the card—perhaps you paid off another balance or increased your income, for instance. Request that the lender reconsider your application. If the answer is still no, refer to your credit report and aim to address the negative information that may have contributed to your rejection. END