Reply
Established Member
garci349
Posts: 48
Registered: ‎11-27-2012
0

Permanent or Temporary?

If I apply for 2 credit cards, will this bring my score down?

Amex Green Card, U.S. Bank Platinum $2,000, U.S. Bank Line of Credit $1,500, BoFA Visa $500, C1 $500
New Visitor
reaction
Posts: 8
Registered: ‎12-02-2012
0

Re: Permanent or Temporary?


garci349 wrote:

If I apply for 2 credit cards, will this bring my score down?


Yes it will permenantly destroy your credit!  just kidding!   When you apply for a new credit line the inquiry will hurt you 2-5 points on average. Also new credit lines will lower your Average age of accounts. If you have a solid credit history it's nothing to worry about really. The scores rebound will rebound pretty quickly.

Established Member
garci349
Posts: 48
Registered: ‎11-27-2012
0

Re: Permanent or Temporary?

Haha !

 

Rebound?

 

Amex Green Card, U.S. Bank Platinum $2,000, U.S. Bank Line of Credit $1,500, BoFA Visa $500, C1 $500
Established Contributor
scenery_guy
Posts: 935
Registered: ‎07-24-2012
0

Re: Permanent or Temporary?

Rebound as in go back to where they were prior to the app. Give it a few weeks to a couple of months and the few point ding will be gone. 

Frequent Contributor
Sparkz1920
Posts: 271
Registered: ‎08-09-2009
0

Re: Permanent or Temporary?

Sometimes an inquiry won't hurt at all

I think I just have so much credit and small balances that it balances out the inquiries

Starting Score: 601
Current Score: 670
Goal Score: 700


Take the FICO Fitness Challenge

NFCU Rewards- 8K......AMEX Delta Skymiles-5k.....Citi AAdvantage AMEX-3.5K...WalMart Discover-4K....Old Navy Visa-2k...BOA-3000...AMEX Green-NPSL....Discover More-1K
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
0

Re: Permanent or Temporary?

Temporary


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}