These two conflicting articles by the same author apply to the US, but what about in Canada? I'm only interested in one or two credit cards, so should I just apply singly one at a time?
Ten percent (10%) of your credit score takes into account applications for credit. Each time you make an application, the creditor checks your credit to decide whether to approve you for the credit card. An inquiry is placed on your credit report and included in your credit score. The more credit card applications you put in, the more your credit score will drop.
That’s the good news – being turned down for credit doesn’t affect your credit score (but your credit score could be the reason you were turned down). However, that you applied for credit at all can affect your credit score since inquiries are 10% of your score