Applying for Multiple Credit Cards in One Day (2024)

No, there is no rule against applying for multiple credit cards in one day. However, doing so may hurt your credit standing as well as your chances of approval for a new credit card account. Each time you apply for a credit card, it will result in a hard inquiryon your credit reports. And even though one hard inquiry may not have a huge impact, applying for 2 cards or more in a day could potentially bring a score down by several points.

Depending on the content of your credit report, the negative impact could multiply with more hard pulls. That could mean the difference between good and fair credit, for example, or fair and bad credit.

Things to Know Before Applying for Multiple Cards in One Day

• Credit card applications result in a hard inquiry. A hard pull can affect a credit score for up to a year, and will drop off a report completely in 2 years. Even though the effect is temporary, it’s worth considering whether or not your score can afford that kind of drop for a year.
• If you apply for more than one card in a day, it's possible that some or all of these applications will be approved. That too would have an effect on your credit standing.
• A few new lines of credit will increase your total available credit, lower your overall credit utilization, and decrease the average age of your credit. The first two are good for a credit score but could quickly turn bad if you misuse your new credit. The third could also have a negative impact.
• A cluster of new credit lines could look like you’re desperately trying to borrow. This could be a sign of budding financial problems, making you look riskier to potential lenders.

If you’re applying for multiple cards at the same time to increase your odds of one credit card approval before a hard pull hits your score, reconsider this approach. It will only hurt your score in the long run. If you don’t get approved for the first card you apply for, there are always lower-tier offers to consider, includingcredit cards with no credit check.

What to Do Before Applying for a Credit Card

1. Pick your credit applications wisely. Do some research to find the best credit cards for your needs, and choose the cards with the best approval odds based on your circ*mstances.
2. Check for pre-approval. Many credit card issuers let prospective customerscheck for pre-approvalthrough the company’s website. Pre-approval results in a soft pull on your credit, with no score damage. Plus, it provides a good sense of your likelihood of approval before you apply for real. That way, you’re not wasting hard pulls on a credit card you have no chance of getting.
3. Keep tabs on your credit score. Make sure you know where you stand before applying for a credit card. You can check your credit score for free, right here on WalletHub.

Note that it’s best to apply for no more than one or two credit cards per year. This allows your credit score to recover from each hard inquiry and lets you get accustomed to managing a new account.

That said, people who can manage their card usage responsibly will benefit from gradually building a collection of multiple credit cards. You can also take advantage of theIsland Approachand use two or three credit cards, based on your financial needs. More cards than that can complicate due dates but will allow you to mix-and-match more types of rewards, rates, and features. Setting up automatic paymentscan help you pay down your credit cards without missing a due date.