Does applying for multiple credit cards affect score?

[ChurningNoob]

I already have three credit cards but these are no good to me so started apply few new cards. After applying I noticed 'a query' made by HDFC in my cibil report appreed so does this query or getting new cards approved affect my CIBIL score?

Also, I applied for HDFC card online they made query to my CIBIL score and did not hear anything from them. What does that mean?

 

[Shen079]

It depends on person to person. Usually it doesn't affect much. But best not to apply for more than 2-4 cards in a month.

How much does a score get it if we do apply 3 cards in 40 days any idea ?
I just got axis Magnus + idfc wealth was thinking for RBL ZOMATO.

 

[Shen079]

How much does a score get it if we do apply 3 cards in 40 days any idea ?
I just got axis Magnus + idfc wealth was thinking for RBL ZOMATO.

* Hit

 

[ChurningNoob]

How much does a score get it if we do apply 3 cards in 40 days any idea ?
I just got axis Magnus + idfc wealth was thinking for RBL ZOMATO.

I did not hear back from HDFC for Regelia or Infinia so even I am considering to apply for Magnus.

 

[mgforce]

It is clearly mentioned across internet, that multiple card applications = multiple credit inquiries = one seen as credit hungry

This will definitely impact credit score. My advice, don't apply for more than 1 per month

 

[mgforce]

It is mentioned but does it really matter? Is the question.

Some here have mentioned they have got an Axis CC after applying thrice. Yes, one shouldn't keep on applying but I believe one application per 1-2 weeks is harmless.

It matters....

 

[Akashgod]

Run cibil score simulator and stop worrying! U have all ur answers there.

 

[swastik2233]

Run cibil score simulator and stop worrying! U have all ur answers there.

Having a good cibil is not enough.
I have seen card being rejected inspiet of 790 cibil with 8 year credit history , but 5 enquiry in past month. Especially with idfc and hdfc.

So, don't be credit hungry. ( at least don't show to be )

 

[swastik2233]

How many ways are there to get a cc without cibil enquiry ? Can anyone list ?

 

[vaibhav111]

How many ways are there to get a cc without cibil enquiry ? Can anyone list ?

what? cc lender will enquiry they're no shortcut , just apply for card you need or apply for 1 card a month and get invested in other thing

 

[swastik2233]

what? cc lender will enquiry they're no shortcut , just apply for card you need or apply for 1 card a month and get invested in other thing

I can list 2 -

As a pre approved offer
On card upgrade by calling customer care

 

[Shen079]

Run cibil score simulator and stop worrying! U have all ur answers there.

I did but it shows no effect for me strange or it’s just me !

 

[Shen079]

I think Cibil score doesn't change much but some banks do bother about Cibil enquiries 🤔🧐

Might be will skip Zomato RBL for now for a month at least ..

 

[AllSeeker]

See real problem happens when your application is rejected. Also, another problem is there are two type of inquiries, one is done by bank bot/algo other one is done by verifying authority. Bot will just launch inquiry which will be for amount like 1k,10k or sometimes something in between. Those might not affect your CIBIL that much if you have 2-3 rejected inquiries in a single month. But the hard verification ones can be very damaging. Effects increase when there is data discrepancy, like address, phone number, working/profession details etc. And it can very easily happen if you apply for multiple products across multiple banks.

Credit score is not a straightforward calculation, don't worry too much about it but don't do obvious mistakes. Also, for pre-approved offers some banks do CIBIL inquiry, for example I had pre-approved limit offer on my priority account but not credit card offer (Strange I know), but when the sales people called me they did not clarify difference, and since I didn't know either I said yes, my application was rejected for different reasons but there were 3 different inquiries in that month for axis card since the representative kept calling and asking me to apply.

Funny thing is when I got upgrade offer on my existing card they did not even call me second time, I got the card in mere 2 days.

See the difference? Don't take things for granted, banks always do as per their convenience and policies.

 

[AllSeeker]

Limit upgrade but no credit card offer 🤣

It was not limit upgrade but pre-approved credit limit of 75k, basically I just had to apply for CC or some other loan for it to pass. But what's strange is that they did not accept the CC application, not only did they not they made 3 inquiries in CIBIL (one each for each time I tried to get CC due to this offer)

 

[ChurningNoob]

Got my updated Cibil score today - so HDFC and Axis had made query and this effected my score by 2 points. So yes these credit card queries do impact credit score.

And sadly I did not take any new credits card and still lost 2 points.

 

[TheTrickySid]

Got my updated Cibil score today - so HDFC and Axis had made query and this effected my score by 2 points. So yes these credit card queries do impact credit score.

And sadly I did not take any new credits card and still lost 2 points.

Just 2 enquires made a negative impact!!

Btw what was your score??

 

[Sravan]

Some tell that pre approved offers have no enquiries, but for me, there was an enquiry for pre approved offer in HDFC.

even though it is a pre approved, better to request them consider it is soft enquiry.

 

[Akashgod]

even though it is a pre approved, better to request them consider it is soft enquiry.

How u approach them to conduct a soft enquiry ? If u know pls share 😬

 

[souvikdey2002]

How many ways are there to get a cc without cibil enquiry ? Can anyone list ?

Not possible now a days, I asked Card from AU, they didn't have service in my area, still they made an enquiry.
Only possible if you have a Pre-Approved offer from any bank.