The instantaneous impact on your credit score from App-o-Rama is because your credit score is affected everytime your credit file is pulled. This means for each application you fill out, your credit score will take a small hit. However, most credit bureaus will only take one deduction for multiple inquiries that are conducted during a specific time period to allow for shopping around. For example, if you apply for a car loan and your credit file is pulled by 10 finance companies, as long as it is done in a certain period of time, it only counts as one inquiry on your credit file. This same guideline holds true for credit cards and App-o-Rama as well.
As the activity in your credit file spikes, your credit score will plummet. That's why App-o-Rama is only appropriate for people who have no foreseeable need to borrow money for other purposes in the near future. If you are looking to buy or refinance a car or home, or may need loans for your business or an emergency, do not do App-o-Rama. With a sharply reduced credit score and newly thickened credit report, you may have trouble borrowing any more money or could face unusually high interest rates if you do get approved.
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