{"id":1103,"date":"2023-11-18T01:29:51","date_gmt":"2023-11-18T01:29:51","guid":{"rendered":"http:\/\/localhost\/mrc_blog\/credit-building\/does-applying-for-a-credit-card-hurt-your-credit-score\/"},"modified":"2025-02-04T23:03:21","modified_gmt":"2025-02-05T04:03:21","slug":"does-applying-for-a-credit-card-hurt-your-credit-score","status":"publish","type":"post","link":"https:\/\/myratecompass.ca\/blog\/credit-building\/does-applying-for-a-credit-card-hurt-your-credit-score\/","title":{"rendered":"Does Applying for a Credit Card Hurt Your Credit Score?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy counter-decimal ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/a><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/myratecompass.ca\/blog\/credit-building\/does-applying-for-a-credit-card-hurt-your-credit-score\/#How_Your_Credit_Score_is_Impacted_by_Credit_Card_Applications\" title=\"How Your Credit Score is Impacted by Credit Card Applications\">How Your Credit Score is Impacted by Credit Card Applications<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/myratecompass.ca\/blog\/credit-building\/does-applying-for-a-credit-card-hurt-your-credit-score\/#How_to_Prepare_for_a_Credit_Card_Application\" title=\"How to Prepare for a Credit Card Application\">How to Prepare for a Credit Card Application<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/myratecompass.ca\/blog\/credit-building\/does-applying-for-a-credit-card-hurt-your-credit-score\/#Managing_Your_Credit_Card_Responsibly\" title=\"Managing Your Credit Card Responsibly\">Managing Your Credit Card Responsibly<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/myratecompass.ca\/blog\/credit-building\/does-applying-for-a-credit-card-hurt-your-credit-score\/#Neo_Secured_Credit\" title=\"Neo Secured Credit\">Neo Secured Credit<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time:<\/span> <span class=\"rt-time\">4<\/span> <span class=\"rt-label rt-postfix\">Min<\/span><\/span>\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1103\" class=\"elementor elementor-1103\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3a882cbd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a882cbd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b4926d2\" data-id=\"3b4926d2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-27f3474b elementor-widget elementor-widget-text-editor\" data-id=\"27f3474b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Your credit score provides a quick snapshot of your creditworthiness as a borrower. Lenders use your credit score and report to assess how likely you are to repay future debts. From there, a lender will determine whether they will extend new credit to you, such as a credit card. Naturally, this means your <a class=\"wpil_keyword_link \" href=\"https:\/\/myratecompass.ca\/blog\/credit-building\/credit-score\/\"  title=\"credit score\" data-wpil-keyword-link=\"linked\">credit score<\/a> and report is an important thing to maintain in terms of finances.<\/p><p>In the short-term,\u00a0<a href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/how-to-apply-for-a-credit-card-and-tips-to-get-approved\/\" target=\"_blank\" rel=\"noopener\">applying for a new credit card<\/a>\u00a0does affect your credit score. A single credit card application will incur a hard inquiry causing a temporary, slight dip in your score. Eventually, your credit score will recover, in about six months to a year. Multiple credit card applications can have a more adverse effect on your credit score. In addition, lenders often perceive a high number of hard inquiries as a sign of financial struggle. Fortunately, you can be strategic with your credit card applications to minimize the negative impacts to your credit score. Learn more below.<\/p><p>\u00a0<\/p><h2><span class=\"ez-toc-section\" id=\"How_Your_Credit_Score_is_Impacted_by_Credit_Card_Applications\"><\/span>How Your Credit Score is Impacted by Credit Card Applications<span class=\"ez-toc-section-end\"><\/span><\/h2><div>\u00a0<\/div><p>A hard inquiry occurs anytime a third party looks at your credit report. This could be a lender, landlord, or even an employer. Any time you apply for a credit card you must authorize the creditor to perform a hard inquiry. This means you have control over the hard inquiry amount.<\/p><p>Hard inquiries have a temporary, negative effect on your credit score which becomes less severe over time. According to Equifax, hard inquiries remain on your credit report for up to 3 years, but only impact your score for six months to a year. If you are applying for a mortgage, car loan or other significant form of financing in the foreseeable future, it is wise to avoid applying for new credit in the year leading up to the application. By not having any hard inquiries on your credit report in the last year, lenders will perceive you as a more responsible borrower.<\/p><p>Fortunately, there is a loophole. If you&#8217;re applying for financing and want to compare multiple offers, hard inquiries that occur within a small time frame, usually 14 to 45 days, are lumped together. This has a less severe impact to your score because the multiple inquiries are treated as one.<\/p><p>Applying for new <a class=\"wpil_keyword_link \" href=\"https:\/\/myratecompass.ca\/credit-cards\/by-category\"  title=\"credit cards\" data-wpil-keyword-link=\"linked\">credit cards<\/a> can have a positive impact on your credit score too. First, by having more credit available to you with a new credit card, your credit utilization ratio will automatically increase. Credit utilization ratios measure the total amount of credit available to you versus how much you&#8217;re using. By having more available to you with no change to how much you&#8217;re using, your\u00a0credit score\u00a0will increase.<\/p><p>Second, if you manage the credit card properly by always paying on time and in full, your credit history will lengthen and improve your score. Credit history has the biggest impact on your credit score meaning it&#8217;s important to effectively manage your bills.<\/p><p>Finally, if you didn&#8217;t have a credit card before, your credit mix will expand which also improves your score. Credit mix refers to the kinds of credit you&#8217;re using. For example, credit cards, <a class=\"wpil_keyword_link \" title=\"lines of credit\" href=\"https:\/\/myratecompass.ca\/loans\/lines-of-credit\" data-wpil-keyword-link=\"linked\">lines of credit<\/a> and personal loans are all different forms of financing. By effectively managing multiple types of credit, your credit score improves. Note that the positive benefits will only be reaped if you can afford to hold various kinds of credit.<\/p><p>\u00a0<\/p><p>\u00a0<\/p><p>\u00a0<\/p><h2><span class=\"ez-toc-section\" id=\"How_to_Prepare_for_a_Credit_Card_Application\"><\/span>How to Prepare for a Credit Card Application<span class=\"ez-toc-section-end\"><\/span><\/h2><div>\u00a0<\/div><p>Since hard inquires hurt your credit score, you don&#8217;t want to waste time on credit card applications that have a high chance of being declined. Before sending an application, do your due diligence. This means checking for minimum credit score requirements, minimum income thresh holds, and other criteria. Obviously, if you don&#8217;t meet the minimum requirements, don&#8217;t waste your time on an application because you will be declined.<\/p><p>Leading up to your credit card application, you should pay your other financial obligations on time and in full. Also, pay off old debts that you can afford to pay. These things will enhance your financial position thereby bettering your odds of approval. If you&#8217;re applying for a new credit card and want to cancel your old one, you should wait until you&#8217;re approved at the very least. Cancelling old credit accounts will remove the payment history from your report. It&#8217;s better to keep old credit card accounts open unless there&#8217;s a really good reason to cancel it.<\/p><p>When you are ready to apply to one or more credit cards, the best strategy is to submit all credit card applications at once. Avoid staggering applications because that will have a more severe effect on your score.<\/p><p>\u00a0<\/p><p>\u00a0<\/p><h2><span class=\"ez-toc-section\" id=\"Managing_Your_Credit_Card_Responsibly\"><\/span><a name=\"_6cgzxo1iwnkb\"><\/a>Managing Your Credit Card Responsibly<span class=\"ez-toc-section-end\"><\/span><\/h2><div>\u00a0<\/div><p>At the end of the day, credit scores are there to help us achieve our financial goals, such as obtaining a new credit card. Even though a hard inquiry temporarily impacts your credit score, it&#8217;s a worthwhile endeavor to better your finances. Just be sure to incorporate strategy into your credit card applications and timing to avoid adverse impacts to your credit score. When you get your new credit card, be sure to pay on time and in full to quickly recover your credit score.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be3cc8b elementor-widget elementor-widget-video\" data-id=\"be3cc8b\" data-element_type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/www.youtube.com\\\/watch?v=4LzUGW3sBFA&quot;,&quot;show_image_overlay&quot;:&quot;yes&quot;,&quot;image_overlay&quot;:{&quot;url&quot;:&quot;https:\\\/\\\/myratecompass.ca\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/How-is-your-credit-score-calculated.png&quot;,&quot;id&quot;:2782,&quot;size&quot;:&quot;&quot;,&quot;alt&quot;:&quot;How is your credit score calculated?&quot;,&quot;source&quot;:&quot;library&quot;},&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-widget-video .elementor-widget-container{overflow:hidden;transform:translateZ(0)}.elementor-widget-video .elementor-wrapper{aspect-ratio:var(--video-aspect-ratio)}.elementor-widget-video .elementor-wrapper iframe,.elementor-widget-video .elementor-wrapper video{height:100%;width:100%;display:flex;border:none;background-color:#000}@supports not (aspect-ratio:1\/1){.elementor-widget-video .elementor-wrapper{position:relative;overflow:hidden;height:0;padding-bottom:calc(100% \/ var(--video-aspect-ratio))}.elementor-widget-video .elementor-wrapper iframe,.elementor-widget-video .elementor-wrapper video{position:absolute;top:0;right:0;bottom:0;left:0}}.elementor-widget-video .elementor-open-inline .elementor-custom-embed-image-overlay{position:absolute;top:0;right:0;bottom:0;left:0;background-size:cover;background-position:50%}.elementor-widget-video .elementor-custom-embed-image-overlay{cursor:pointer;text-align:center}.elementor-widget-video .elementor-custom-embed-image-overlay:hover .elementor-custom-embed-play i{opacity:1}.elementor-widget-video .elementor-custom-embed-image-overlay img{display:block;width:100%;aspect-ratio:var(--video-aspect-ratio);-o-object-fit:cover;object-fit:cover;-o-object-position:center center;object-position:center center}@supports not (aspect-ratio:1\/1){.elementor-widget-video .elementor-custom-embed-image-overlay{position:relative;overflow:hidden;height:0;padding-bottom:calc(100% \/ var(--video-aspect-ratio))}.elementor-widget-video .elementor-custom-embed-image-overlay img{position:absolute;top:0;right:0;bottom:0;left:0}}.elementor-widget-video .e-hosted-video .elementor-video{-o-object-fit:cover;object-fit:cover}.e-con-inner>.elementor-widget-video,.e-con>.elementor-widget-video{width:var(--container-widget-width);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t\t\t<div class=\"elementor-custom-embed-image-overlay\" style=\"background-image: url(https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/09\/How-is-your-credit-score-calculated.png);\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-custom-embed-play\" role=\"button\" aria-label=\"Play Video about How is your credit score calculated?\" tabindex=\"0\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"eicon-play\"><\/i>\t\t\t\t\t\t\t<span class=\"elementor-screen-only\">Play Video about How is your credit score calculated?<\/span>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-07c867c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"07c867c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-574d249\" data-id=\"574d249\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1c8c5c9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1c8c5c9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4d7bdc0\" data-id=\"4d7bdc0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2e33faf elementor-widget elementor-widget-heading\" data-id=\"2e33faf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Neo_Secured_Credit\"><\/span>Neo Secured Credit<span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-79d36c3 elementor-widget elementor-widget-text-editor\" data-id=\"79d36c3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>With <strong>guaranteed approval<\/strong>\u00a0and <strong>no annual fees<\/strong> you can start building your credit and earning unlimited, instant cashback.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-616e306 elementor-mobile-align-center elementor-widget elementor-widget-button\" data-id=\"616e306\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/go.myratecompass.ca\/neosecuredbanner\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Go to site <\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-daefe78\" data-id=\"daefe78\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5d02cbc elementor-widget elementor-widget-image\" data-id=\"5d02cbc\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"406\" height=\"342\" src=\"https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2023\/11\/neo-secured.png\" class=\"attachment-large size-large wp-image-11109\" alt=\"\" srcset=\"https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2023\/11\/neo-secured.png 406w, https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2023\/11\/neo-secured-300x253.png 300w, https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2023\/11\/neo-secured-297x250.png 297w\" sizes=\"(max-width: 406px) 100vw, 406px\" style=\"width:100%;height:84.24%;max-width:406px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time:<\/span> <span class=\"rt-time\">4<\/span> <span class=\"rt-label rt-postfix\">Min<\/span><\/span> Your credit score provides a quick snapshot of your creditworthiness as a borrower. Lenders use your credit score and report to assess how likely you are to repay future debts. From there, a lender will determine whether they will extend new credit to you, such as a credit card. Naturally, this means your credit score&hellip; <a class=\"more-link\" href=\"https:\/\/myratecompass.ca\/blog\/credit-building\/does-applying-for-a-credit-card-hurt-your-credit-score\/\">Continue reading <span class=\"screen-reader-text\">Does Applying for a Credit Card Hurt Your Credit Score?<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":1117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[5],"tags":[21],"class_list":["post-1103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-building","tag-blog-post-template-1-main-template-to-use","entry"],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",924,617,false],"thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54-150x150.jpg",150,150,true],"medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54-300x200.jpg",300,200,true],"medium_large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54-768x513.jpg",750,501,true],"large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",750,501,false],"1536x1536":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",924,617,false],"2048x2048":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",924,617,false],"post-thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",924,617,false],"post-image-medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54-374x250.jpg",374,250,true]},"post_excerpt_stackable":"<p>Table of Contents How Your Credit Score is Impacted by Credit Card ApplicationsHow to Prepare for a Credit Card ApplicationManaging Your Credit Card ResponsiblyNeo Secured Credit Reading Time: 4 Min Your credit score provides a quick snapshot of your creditworthiness as a borrower. Lenders use your credit score and report to assess how likely you are to repay future debts. From there, a lender will determine whether they will extend new credit to you, such as a credit card. Naturally, this means your credit score and report is an important thing to maintain in terms of finances.In the short-term,\u00a0applying for&hellip;<\/p>\n","category_list":"<a href=\"https:\/\/myratecompass.ca\/blog\/.\/credit-building\/\" rel=\"category tag\">Credit Building<\/a>","author_info":{"name":"Mohamed Konate","url":"https:\/\/myratecompass.ca\/blog\/author\/mohamedkonate\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",924,617,false],"thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54-150x150.jpg",150,150,true],"medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54-300x200.jpg",300,200,true],"medium_large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54-768x513.jpg",750,501,true],"large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",750,501,false],"1536x1536":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",924,617,false],"2048x2048":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",924,617,false],"post-thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg",924,617,false],"post-image-medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54-374x250.jpg",374,250,true]},"post_excerpt_stackable_v2":"<p>Table of Contents How Your Credit Score is Impacted by Credit Card ApplicationsHow to Prepare for a Credit Card ApplicationManaging Your Credit Card ResponsiblyNeo Secured Credit Reading Time: 4 Min Your credit score provides a quick snapshot of your creditworthiness as a borrower. Lenders use your credit score and report to assess how likely you are to repay future debts. From there, a lender will determine whether they will extend new credit to you, such as a credit card. Naturally, this means your credit score and report is an important thing to maintain in terms of finances.In the short-term,\u00a0applying for&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/myratecompass.ca\/blog\/.\/credit-building\/\" rel=\"category tag\">Credit Building<\/a>","author_info_v2":{"name":"Mohamed Konate","url":"https:\/\/myratecompass.ca\/blog\/author\/mohamedkonate\/"},"comments_num_v2":"0 comments","jetpack_featured_media_url":"https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2021\/10\/a36162afa23dcbd72a0d5e255b4c7d54.jpg","_links":{"self":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts\/1103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/comments?post=1103"}],"version-history":[{"count":12,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts\/1103\/revisions"}],"predecessor-version":[{"id":11130,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts\/1103\/revisions\/11130"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/media\/1117"}],"wp:attachment":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/media?parent=1103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/categories?post=1103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/tags?post=1103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}