Shopping around affect credit rating?

Garyrae

I've just finished completely paying off my Capital One card (first ever credit card), so am now looking to apply for a card with a better rate.

I'm 20 years old, self-employed, with a good/fair credit rating.

I applied for a Tesco card yesterday, and was accepted. But I was offered a rate (21.9%) and credit limit I wasn't entirely happy with, so I didn't complete the application.

So what I'm wondering is, will applying for cards but not 'ordering' them affect my credit rating at all?

My plan was to apply for 3-4 maximum, and see which providers offer me what limit and at what rate.

BugsyBrowne

Garyrae wrote: »

I've just finished completely paying off my Capital One card (first ever credit card), so am now looking to apply for a card with a better rate.

I'm 20 years old, self-employed, with a good/fair credit rating.

I applied for a Tesco card yesterday, and was accepted. But I was offered a rate (21.9%) and credit limit I wasn't entirely happy with, so I didn't complete the application.

So what I'm wondering is, will applying for cards but not 'ordering' them affect my credit rating at all?

My plan was to apply for 3-4 maximum, and see which providers offer me what limit and at what rate.

You were offered a credit limit and APR and accepted and didn't complete the application???

KingElvis

That's a deffo step up form a crap one classic/step or even progress card.

You should've snapped their hands off LOL

jen245

And yes applying for credit cards will affect your rating after about 3 applications. Each time you apply you will be credit checked even if you dont complete the application. Not sure why you wouldnt accept a decent card from Tesco. Credit card companies are becoming very picky with who they give their cards to, and considering your age and employment status (lenders typically arent keen on the self employed), I think you were lucky!