Experian Introduces ‘No Ding Decline’ to Help Consumers Apply for Credit Cards Without Impacting Their Credit Scores
As the holiday shopping season approaches, Experian is helping consumers apply for credit cards with confidence through its new No Ding Decline feature. This innovative service, available on the Experian Marketplace, ensures that shoppers can explore credit card offers without worrying about damaging their FICO® Score if they are not initially approved. With holiday budgets top of mind, Experian is making it easier for consumers to choose credit cards strategically while maintaining their credit health.
A Stress-Free Way to Apply for Credit Cards
Holiday shopping often involves spending more than usual, and credit cards are a popular tool for managing these costs. According to a recent survey by Experian, 59% of consumers prefer using credit cards for their holiday purchases, while 25% are reviewing their current cards to ensure they are using the best options for shopping. Furthermore, 15% plan to open a new credit card this season, a slight increase from 11% in 2023 and 13% in 2022.
However, applying for new credit cards can come with risks, especially when it comes to credit scores. Traditionally, applying for credit cards involves a “hard inquiry,” which can cause a temporary dip in a person’s credit score. This is a common concern for those who want to avoid any negative impact on their credit profile. That’s where No Ding Decline comes in.
The No Ding Decline feature allows consumers to apply for credit cards without fear that their credit scores will be affected if their application is declined. The Experian Marketplace is the only platform that consolidates multiple No Ding Decline offers from various credit card issuers in one place, making it easy for consumers to explore and compare their options.
Benefits of No Ding Decline: Apply with Confidence
Rod Griffin, Senior Director of Consumer Education and Advocacy at Experian, explained the benefit of this feature: “Typically, applying for credit involves a hard inquiry, and your credit scores may dip as a result. This can make it more difficult for those who are working to strengthen their credit profile and want to use a credit card as a tool. With No Ding Decline, consumers can apply for credit cards with confidence, knowing that if their application is declined, it won’t negatively affect their credit scores.”
This is especially beneficial for those who are actively trying to build or repair their credit scores. It allows them to explore credit card options without worrying that an unsuccessful application could derail their progress.
Why Consumers Are Opening New Credit Cards
The Experian survey also revealed why consumers are interested in applying for new credit cards. The top reasons include:
- Access to Cash Back Rewards – 41% of consumers want to earn cash back on their purchases.
- Receive Retail Store Discounts – 27% are looking for exclusive discounts offered by retailers.
- Earn Travel Rewards – 26% are hoping to accumulate points or miles for travel-related benefits.
As more consumers seek out cards that align with their spending habits and goals, the No Ding Decline feature ensures they can explore a variety of options without worrying about the consequences of an initial rejection.
Discover Personalized Offers
In addition to offering No Ding Decline options, the Experian Marketplace tailors credit card recommendations based on each consumer’s financial profile. This means that the platform provides a personalized selection of cards, ensuring consumers are matched with products that suit their individual needs. Nearly 70% of consumers who explored credit cards in the marketplace found No Ding Decline offers from multiple issuers, further emphasizing the platform’s broad selection.
For consumers looking for more information about the Experian Marketplace and how to find the right credit card for their needs, they can visit Experian Credit Cards.
Additionally, for tips on making the most of credit cards, consumers can explore the Ask Experian blog, which provides valuable insights on managing credit, rewards, and more.
Empowering Consumers with Financial Confidence
Experian’s commitment to Financial Power for All™ extends beyond credit cards. The company helps consumers build and maintain good credit, access personalized financial products, take control of their bills and debt, protect against identity theft and fraud, and save time and money throughout their financial journey.
With No Ding Decline, Experian is making it easier for consumers to apply for credit cards without worrying about the negative effects of a hard inquiry. This new feature aligns with Experian’s mission to provide people with the tools and confidence to manage their finances and reach their goals with peace of mind.
