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Can opening a new credit card lower my score?

Submitted by Mercel on Tue, 06/06/2017 - 22:30
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Can opening a new credirt card lower my score? If yes, then how many points?


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.


Submitted by tiarajoseph11 on Wed, 06/07/2017 - 07:17

tiarajoseph11

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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.


Submitted by SC on Thu, 06/08/2017 - 21:49

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