Will applying for a new credit card hurt my score?

Question

I want to apply for a new rewards card but I'm worried about my credit score dropping. How much does a hard inquiry affect it?

CardCompare Expert · Accepted Answer

A hard inquiry typically drops your score by 5-10 points temporarily. It stays on your report for 2 years but stops affecting your score after 12 months. However, a new card also HELPS your score by increasing total credit (lowering utilization) and adding to credit mix. Most people see their score recover within 3-6 months and end up higher than before, especially if they use the new card responsibly.