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by matgessel
1336 days ago
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> temporary impact on your credit score. Applying for multiple credit cards at once will reduce your score for a few months; if you will be applying for a mortgage, car loan, job, apartment, or other situation that requires a check of your credit, it is a good idea to stop all churning activity as far in advance as possible. Most conservative estimates recommend at least 2 years as "hard pulls" from credit card inquiries will fall off your credit report in 2 years. > your homeowners insurance rate can be impacted by your churning activity, even though your credit score remains high. Your insurer regular does a soft pull on your credit, and they may increase your rate if there are a lot of new credit lines, even though your overall credit score and utilization may remain in good standing. https://www.reddit.com/r/churning/wiki/index |
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