How long should you wait between new credit card applications? An expert weighs in

LTC Eugene Chu
"If you’re looking to add another credit card to your wallet, it’s worth thinking about how applying for and getting a new one could affect your credit score — and the likelihood of you being approved for the new card at all.

Depending on the issuer, applying for a new credit card typically results in a hard inquiry being made, which occurs when a lender pulls your credit report to determine your creditworthiness. A soft inquiry, in contrast, does not impact your credit score.

While a hard inquiry usually results in a small short-term decrease to your credit score, applying for too many credit cards in a small amount of time can be looked at negatively by lenders and decrease your credit score even more. That said, while a hard inquiry will stay on your credit report for up to two years, it will only impact your credit score for up to one year."...