I have a question about Credit and how it works

Bud, I don't know where we wen't wrong here but I think It must be my bad somehow. So yes, one line of credit is a credit card, the other is a catalogue store with 12 months no APR. But you're missing my point and getting hung up on my current lines of credit, I wasn't asking about those.

I was asking about how would new lines of credit affect my credit score, would opening new lines improve my credit score, even, attempting to open new lines, how would that impact me? I heard a whisper somewhere that even applying for new credit with a company can affect the score, and being granted, even more so, even being rejected could also change the situation?

So to be clear:

Will *even the simple action of attempting to open a new line of credit affect me, be it with the application?, accepted, or, rejected?

On what terms does the "Credit Score" score you?

  • If you apply for company A, and company A rejects you, do you lose points?
  • If you apply for company A, and company A accepts you, do you gain points?
  • Does the simple action of company A looking you up (It's called a credit check right?) Affect you in any way? I heard, even having a credit check affects your credit rating.

This is why I am so confused about it buddy. Can you do me a fav and cut through the BS and give me the general gist? Please ignore my past history and creditors, it's really not about that, just assume I am in good standing with all of them, and wishing to gain more creditors, but must understand how it will work.

:) I appreciate ya.

/r/personalfinance Thread Parent