Does a successful application hurt your score?

beanybot

Hi, all! long time user of the site and the forums, first time poster.

Something thats been bugging me for ages...

I know that if you apply for credit and you are declined then it leaves a footprint and "hurts" your score.

but, what happens if you apply for credit and you are successful? this must leave a footprint but does it hurt your score at all?

thanks guys.:j

stephane_2

Whether you get accepted or not, it will leave a search on your file. If you get decline it will not say so on your file, if you do get accepted then the account will probably appear on your file and your file will improve depending on how you run that account. A search will not hurt your file, many searches within a short period of time will.....

chexum

stephane wrote: »

If you get decline it will not say so on your file

Neither will it say that they accepted you, but you forgot to send any paperwork or signature they requested, or if you chose not to pursue it because you found other terms unacceptable (too low limit offered, etc.). In some cases you can even use the card and then in the first 14 days, cancel the account without them showing the account on the credit file.

If the account is already created, it's a different matter then. If you have more than a few applications in the last 6 months, or the majority of your accounts are fresher than 18 months (this is what Martin's credit rating checker says), then your rating will be worse until the good account conduct on the new ones is obvious.

http://www.moneysavingexpert.com/loans/credit-rating-credit-score#checker

System

Ahh I see, so basically a search is a search, it doesnt say anything more than that. This is my only application for credit in about the last 12 months so it shouldnt hurt too much then i guess. I have no intention of using the card apart from deliberately to improve my rating.

thanks all.