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Applying for multiple credit cards at once can hurt scores temporarily
Each credit card application triggers a hard inquiry, and multiple new accounts in a short period can also reduce the average age of your credit history.
Yahoo Finance says in general it is better to space out credit card applications instead of applying for multiple cards at once. The outlet notes that each application can lead to a hard credit inquiry, and opening several new accounts quickly can temporarily weigh on a credit score.
The piece adds that multiple credit card applications are not grouped together the way some loan types are for rate-shopping purposes, so the impact can stack. It also warns that earning multiple welcome bonuses often requires significant spending within a short window, which can make overspending more likely.
Yahoo Finance further explains that “new credit” accounts for about 10% of a FICO Score, and hard inquiries can stay on a credit report for up to two years, though FICO generally considers inquiries from the past 12 months. The outlet also points to practical downside risks, like juggling several bonus spending requirements, annual fees, and payment due dates.