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Ouch - That hurt!!

New Contributor

Ouch - That hurt!!

Was giving my accounts a break while I let my Scores drift upward.  (I had a lot of activity last year)  Am looking at the Citi Dividend Platinum Select MC and an account at PSECU (for the Experion score).  My refi was completed a month ago and it just hit the CRA's.  Equifax is down 30 points for opening a new account.  That stings!  Smiley Surprised  I could still apply, but I'm going to put it off until later in the year.  Hopefully, my scores will rebound shortly.

 

BTW, can anyone tell me how much a CU (PSECU) impacts a credit score initially vs. a CC or are do all new accounts affect it the same intially?

3 REPLIES
Valued Contributor

Re: Ouch - That hurt!!

Do you mean a Credit Card/LoC at PSECU, or just checking/share account?

 

If its the latter, then you'll just get dinged with one inquiry on Experian, no account will appear on the CRs.

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
New Contributor

Re: Ouch - That hurt!!

Just a checking account.  Great - no other penalty than a ding?

Valued Contributor

Re: Ouch - That hurt!!

Just a ding for the inquiry, about 3-5 points at the most usually, nbd.

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |