Don't Apply For Credit Too Frequently

Your credit score is negatively impacted by frequent credit applications, if you are turned down.  So, if you are applying for credit (such as applying for a mortgage) and you want to “shop around” for the best rate, be sure to do all of your credit shopping within a 15 day period, because applications within a 15 day period only counts as one application.

If you apply for credit and are declined, you can apply again, but do it quickly (within the 15 day period), or else a second rejection can lower your credit score, making it harder to qualify for credit.

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