Because you have applied for new credit twice, you would see two inquiries.
Inquiries resulting from your application for credit represent potential new debt. Therefore, for a short time the inquiries could cause your credit scores to drop a little bit.
Over the last ten years debit card holding has increased by 45% while the number of credit and charge cards has declined by 14%.
In contrast, the ATM-only card portfolio has halved to 11 million, mainly driven by the closure of dormant accounts and upgrades to debit cards.
For more information refer to DCU's VISA Credit Card Agreement and Federal Truth-in-Lending Disclosure Statement.
I have been a DCU member for over 13 years and have gotten many cards.
In 2016 the total number of payment cards in use remained virtually unchanged at 164 million.
Of this total 100 million were debit cards ( 0.8%); 59 million credit cards (-0.7%) and 5 million charge cards (-4.6%).
Every other company would only approve me for a secured card. If your own financial situation doesn't allow you to qualify for a card on your own (based on your credit history, income, and expenses), you'll need to have an adult co-borrower who does qualify most often a parent.That offers four advantages: If your APR is increased for this reason, the Penalty APR will apply until you have made six consecutive payments (minimum or higher) when due, beginning with the first payment due following the effective date of the change.Two inquiries would have a little more of an affect than one, but don’t worry too much about inquiries as they are the least important factor in credit scores.In fact, multiple inquiries for the same type of credit might not be included in the calculation, or may be counted as only one inquiry in the newest scoring models.