How long should I wait before applying for a new credit card?

If you've been rejected for a card, it's best to wait around 6 months before applying for a new credit card. During this time, focus on improving your credit score by paying bills on time. Waiting longer than 6 months will give you an even better chance of being approved since you can spend more time working on your credit score.

Does switching credit cards affect credit?

Switching and churning credit cards can affect your credit score. You will experience increased hard inquiries, decreased credit history length, removing cards with good repayment history and volatile credit limits. Since credit card churning affects your credit score, you should consider your goals before proceeding. For example, if you want to get a mortgage in the next few years, beginning to credit card churn now might not be the best idea.