Credit Questions

Velle47 · Jun 22, 2014

I have a credit card right now. I've had it for a year it's the Barclay Card, but I'm considering getting a Discover card for the rewards they have. I'm pretty sure if I apply for the Discover card it would count as a hard inquiry but there was another hard inquiry when I applied for a car loan. My question is should I wait before I apply for the Discover card so the hard inquiry won't hurt my score?

yeah · Jun 22, 2014

1. Do you need or otherwise have a functional use for the rewards of the Discover card?

If no, don't get the card. Ever.

Velle47 · Jun 22, 2014

Yeah said:
1. Do you need or otherwise have a functional use for the rewards of the Discover card?

If no, don't get the card. Ever.

Nope the cash back is nice though.

keko jones · Jun 22, 2014

Velle23 said:
I have a credit card right now. I've had it for a year it's the Barclay Card, but I'm considering getting a Discover card for the rewards they have. I'm pretty sure if I apply for the Discover card it would count as a hard inquiry but there was another hard inquiry when I applied for a car loan. My question is should I wait before I apply for the Discover card so the hard inquiry won't hurt my score?

Now or later that hard inquiry will reduce your score. If you do them before fairly close, neither are going to reflect until the cycle run. So if that hard inquiry is going to damage your credit and it's before the cycle run, hurry and apply for the card.