Credit score dropped after applying for card - Help!

by pointsguru · 2d ago · 253 views · 10 replies

pointsguru OP

pointsguru

2d ago

My CIBIL score dropped from 780 to 745 after I applied for 2 credit cards last month. Both got rejected!

What happened?

Applied for HDFC Regalia (rejected - income insufficient)

Applied for Axis Flipkart (rejected - too many recent inquiries)

Questions

How long will this impact my score?

Should I wait before applying again?

How to improve my chances next time?

I'm worried about my home loan application next year. Did I mess up badly?

10 Comments

dealseeker · 2d ago

Don't worry, hard inquiries impact reduces over time. Give it 6 months.

rewardhunter · 2d ago

Each hard inquiry drops score by 5-10 points. Two rejections = double impact.

rewardhunter · 2d ago

Pro tip: Always check pre-approved offers first. Those are soft pulls.

travelhacker · 2d ago

For your home loan, 745 is still decent. Focus on building it back up.

travelhacker · 2d ago

Wait at least 3-6 months before applying again. Don't make it worse!

loungelover · 2d ago

In the meantime, use your existing card responsibly. Keep utilization under 30%.

loungelover · 2d ago

Consider getting a credit builder card like OneCard - easier approval.

creditnewbie · 2d ago

HDFC Regalia rejection was probably income-based. Try Millennia instead.

cardmaster · 2d ago

Your score will naturally recover. Just don't apply for anything new for now.

creditnewbie · 2d ago

Also check if there are any errors in your CIBIL report. Dispute if needed.