Can opening a new credit card lower my score?
According to myFICO, new
According to myFICO, new credit determines 10% of your FICO Score.
In your case, opening a new credit card account may not affect you much. But it may harm your score if you do not have a long credit history and open several credit accounts within a short period of time.
Yes, it may affect your
Submitted by Sanders Patricia on Thu, 06/08/2017 - 05:51
If you have a short credit
If you have a short credit history, then I would suggest you to not apply for too many credit cards within a short period of time.
It isn't true that your credit score will drop after opening a new credit. However, if you don't make too many charges on your new card, then your credit score will gradually go up.
Your credit score may drop by
Your credit score may drop by about 7 points after opening a new credit card.