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Home > Learning Center > Complete Guide to Credit > Chapter 11 > Step 6: Avoid New Credit
  Chapter 11
  Improving Your Credit Score
  Step 1: Get Your Reports
  Step 2: Pay Bills On Time
  Step 3: Keep Using Credit
  Step 4: Pay Down Balances
  Step 5: Keep Accounts Active
  Step 6: Avoid New Credit
  Other Steps
  Advanced Tactics
  Playing With The Numbers
  Time Heals All Wounds
  Alternatives To Waiting
  New Credit Identity
  Weasels On Both Sides
  Quick Points To Remember
  Conclusion
  Previous Chapter
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Step 6: Avoid New Credit

The number of hard inquiries on your credit reports does effect your credit rating.

So, if you’re trying to improve your credit, don’t apply for more credit cards than you need—even if they do want to give you a free toaster oven just for filling out the application form.

A large number of credit card inquiries makes lenders think you’re planning to run up a lot of debt. Plus, they can’t tell how many of those accounts you’ve actually opened, since there’s a delay before new accounts show up on your credit history.

Another consideration: Having new accounts will lower the average age of your accounts. The longer your credit history, the better your credit score.

Next: Other Steps

 

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