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Credit Cards FAQ

Frequently Asked Questions about Credit Cards

    Does applying for credit cards hurt my credit?

    Every time you apply for a credit, a credit inquiry will appear on your credit report. Multiple credit inquiries are considered a sign of increased risk, and can lower your score slightly. The more information your credit report contains, the less impact credit inquiries will have on your credit score. If you have a short credit history, inquiries could lower your score by a few points. It is best to do as much research as possible to determine which credit card offers are best for your financial situation before actually applying. However, FICO does take comparison shopping into account when calculating your credit score, and for that reason, if you have multiple credit inquiries within a 30 day period, they will only be counted as a single inquiry.

    Return to Credit Cards FAQs


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Top Credit Cards

Capital One® Venture<sup><small>SM</small></sup> Rewards Credit Card
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Bottom line: Travel rewards card winner with a value of $2 for every $100 spent, no blackout dates or restrictions
Citi Simplicity® Card
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Bottom line: Citi's 18-month 0% intro purchase and balance transfer APR period is the longest of any card, no late fees
Capital One® Cash Rewards - $100 Cash Back Bonus
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Bottom line: Effective 1.5% cash back on all purchases; 0% intro APR on purchases and balance transfers; $100 bonus opportunity
Chase Freedom® Visa - $100 Bonus Cash Back + 0% Intro APR
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Bottom line: Excellent combination of cash back rewards and 0% intro APR; $100 bonus opportunity
Citi® Diamond Preferred® Card
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Bottom line: Citi's 18-month 0% intro purchase and balance transfer APR period is the longest of any card; post-intro APR is also low
United MileagePlus® Explorer Card
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Bottom line: Good choice for United flyers who want to earn free flights with great perks; flight redemption value of $1.94
Southwest Airlines Rapid Rewards® Plus Card from Chase
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Bottom line: Excellent choice for frequent Southwest fliers; strong travel rewards analysis contender; free flight with first purchase
Escape by Discover® Card
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Bottom line: Top travel rewards contender; 0% intro APR on balance transfers and purchases; earn up to 25,000 bonus miles in 25 months
Blue Cash Everyday<sup><small>SM</small></sup> Card from American Express
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Bottom line: Up to 3% cash back on everyday spending; $100 cash back bonus; unlimited cash back; 0% intro APR
Citi® Platinum Select® Visa®
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Bottom line: Citi's 18-month 0% intro purchase and balance transfer APR period is the longest of any card; post-intro APR is also low
Discover® More Card
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Bottom line: 15-month 0% intro APR on purchases & balance transfers, up to 5% cash back.

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