That is true, best idea is to research the best card ahead of time and talk to someone about the rates and yearly fees before you apply. Your FICO score will go down with too many applications.

yes, it is bad. I would first research them all and apply for the best one/the one you are more likely to obtain.

Its not only bad to apply for too many credit cards (as your credit score is affected), it is also bad to cancel a credit card within a short period of time. You get penalized for canceling a credit card within a year of getting it.

In general, if you are in need of credit cards, go ahead and apply without any fear. If it is a short-term need though (3-6 months) think of other ways to supplement your income, reduce other spending without having to get another credit card.

In general, it is not good to have too many credit cards as your future loan applications get affected. Research for best credit cards, compare credit cards and apply online at

If you need additional credit, it may be wiser to talk to your current credit card company and ask them to increase the spending limit rather than getting a new credit card.

Every time you apply for a new credit card, or any type of new credit for that matter, a “hard” enquiry is placed on your report. Each hard enquiry dings your score. So you see, it is not good for your credit.

Also, when you apply for new credit frequently, you appear to be cash-strapped and in desperate need of money. Not a good thing.