Hello,
I have not had a credit card before and so I was wondering how getting a new cc would affect my score NOW, not down the road sometime after the account has been around for a while.
Using myFICO's score watch simulator I selected to apply for a new credit card and it said my score would increase between 10 and 30 points. I tried different monetary amounts and it always yielded the same results.
It is important to note that I do have a car loan so I do have some established credit.
My questions are:
How accurate is the myFICO score watch simulator? Can I take it to the bank that my score is going to improve on getting a FIRST credit card?
Does anyone else out there remember the immediate affect to their credit score of getting a new credit card?
