Will This Ruin My Credit Score?
How does signing up for multiple credit cards affect your credit score? This is the biggest question people have when starting to travel with points and miles. We break it down for you here. Keep in mind we are NOT finance professionals and the information in this blog is anecdotal based on our personal experiences.
Mary Ellen and Jo
8/8/20253 min read
One of the biggest worries people have, understandably (we had it too), when they start earning points and miles through credit card bonuses is: “Will applying for new cards ruin my credit score?” The good news? For most people with responsible credit habits, opening a few new cards each year will NOT destroy your score—and in some cases, it can actually help. It did for us!
Before we dive into why, let’s break down the elements of a credit score.
The Five Elements of a Credit Score
Most lenders use the FICO score, which ranges from 300 to 850. It’s made up of five main components:
Payment History – 35%
This is the most important factor. Lenders want to see that you pay your bills on time, every time. A single late payment can hurt, but consistent on-time payments build strong credit over time. Use any credit card LIKE A debit card, only spend what you can pay off each month, in full.Amounts Owed (Credit Utilization) – 30%
This is the percentage of your available credit you’re using. Lower is better—ideally under 30%, and for the best scores, under 10%. Opening new cards can actually help here by increasing your total available credit, making your utilization ratio lower. This was the case for us! Initially we had lower credit scores simply because we didn't have much credit extended to us. Opening a few new cards over time actually improved our ratios.Length of Credit History – 15%
This looks at how long your accounts have been open, including the average age of all your accounts. New accounts will lower your average age a bit, but if you keep your older cards open, the effect is minimal over time.Credit Mix – 10%
Lenders like to see a variety of credit types (credit cards, car loans, mortgages, etc.). While this is a smaller factor, responsibly adding different accounts can have a positive impact.New Credit (Inquiries) – 10%
Each time you apply for a credit card, a “hard inquiry” appears on your report. This can drop your score by a few points temporarily, but the effect fades after a few months and disappears completely after two years.
Why a Few New Cards Won’t Tank Your Score
If you’re paying all your bills on time, keeping your balances low, and maintaining your older accounts, adding a few new credit cards each year generally won’t cause lasting harm to your score. In fact:
Your payment history stays perfect as long as you pay in full and on time.
Your utilization may improve if new cards increase your total credit limit.
The drop from inquiries is small and temporary, especially if spaced out over the year.
Your overall credit profile grows stronger with more available credit and positive payment history.
Many points and miles enthusiasts have excellent credit scores (often in the 750–850 range) while opening multiple new cards each year. The key is responsibility: never charge more than you can pay off in full and never miss a payment.
Bottom line: Your credit score is a dynamic number that rewards responsible use over time. Applying for a few new cards each year—when done carefully—can be part of a healthy credit strategy, especially if it helps you earn valuable travel rewards without going into debt. Remember, we are NOT finance professionals, so this is based on our personal experiences. Do your own research or talk to a finance professional to learn more.
