Open a credit card under existed checking account, Hard pull or soft pull?

[Anonymous]

Hello Everyone, 

I have a question, I have two checking account. One is Chase and another is Capital One. I already have a capitalone quicksilver card, now I want to apply Chase Freedom. But will that increase my inquiries and new accounts? Because I'm worried that will increase my new accounts number and decrease my score. 

Thank you guys so much. 

[Kostya1992]

Yes it will. If chase approves you for a Freedom card, you will have a +1 new account along with at least +1 inquiry. Depending on your credit profile, there will be a ding to your credit score for a few months.

[Anonymous]

It will be a hardpull.  Having a checking account plays part in that decision of HP or SP.  If you apply for the Freedom and get approved, that will be an increase in inquiry and new account.

If you get declined, that will be an increased in inquiry also and will be on your report for 2 years.  What are your scores?  How many inquiries and new accounts do you have now?

[Anonymous]

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@Anonymous wrote:

It will be a hardpull.  Having a checking account plays part in that decision of HP or SP.  If you apply for the Freedom and get approved, that will be an increase in inquiry and new account.

If you get declined, that will be an increased in inquiry also and will be on your report for 2 years.  What are your scores?  How many inquiries and new accounts do you have now?

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My score now is 703 and I have 1 new account and 1 inquiry. I only have 2 credit cards in total. I just don't want to experience a credit score drop. Because when I applied my second credit card, which is an Apple Reward Card, there is a huge drop of my fico score. From 739 to 703. Maybe I'll probably wait for 2 years when my new inquiry and new account goes away. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

It will be a hardpull.  Having a checking account plays part in that decision of HP or SP.  If you apply for the Freedom and get approved, that will be an increase in inquiry and new account.

If you get declined, that will be an increased in inquiry also and will be on your report for 2 years.  What are your scores?  How many inquiries and new accounts do you have now?

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My score now is 703 and I have 1 new account and 1 inquiry. I only have 2 credit cards in total. I just don't want to experience a credit score drop. Because when I applied my second credit card, which is an Apple Reward Card, there is a huge drop of my fico score. From 739 to 703. Maybe I'll probably wait for 2 years when my new inquiry and new account goes away. 

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Because you have a thin file, that is why you had a huge score drop.  You need a 2 more cards at least for FICO scoring purposes.  Any baddies on your report?  And what is your score for EX, TU and EQ and list them if you don't mind.

How long have you had this 1 card?