Will opening an American Express (green) charge card lower my credit score?

[Anonymous]

I already have a BOA rewards cards, but I was considering opening an AExpress charge card. Will this hurt or lower credit score?

[TheGardner]

You will lose a few points for the AAoA hit and the hard inquiry hit. Most points will be recovered in 3-6 months.

If you currently only have 1 card reporting you may actually gain points as it is said you need 3 cards for optimal scoring.

Keep us posted, good luck!

[Kenny]

Are you already a member of American Express previously or no?

[Anonymous]

---

@TheGardner wrote:
You will lose a few points for the AAoA hit and the hard inquiry hit. Most points will be recovered in 3-6 months.

If you currently only have 1 card reporting you may actually gain points as it is said you need 3 cards for optimal scoring.

Keep us posted, good luck!

---

Not necessarily. When the Quicksilver I got last month hit my EQ and EX, they both increased by 22 points.

[TheGardner]

That's what I was trying to point out, in some cases your scores will improve. The initial lose is the HP but can get a net gain.

[coffeegal]

Last month, I apped for the Green card and BCE at the same time (1 HP on EX).  The day before I apped with my CU for a car loan and was simultaniously approved for a visa (1 HP on EX). I received notifications that there had been HPs, but no change to my score.  A week later, I made the mistake of allowing the finance manager to try to beat or match my CU rate.  This resulted in 3 additional HPs on EX, and a 2 point decrease on EX, which is nothing.  So far, only my CU Visa is reporting, but not yet showing a CL.  I have received additional increases in my score, but there is not a specific indication of why.  

This is my own personal experience, but it is different for everyone.  

[Anonymous]

"Last month, I apped for the Green card and BCE at the same time (1 HP on EX)"

I would like to do the same apply for Amex Green and Amex Everyday card.

How did you apply at the same time/only 1 HP?

[Anonymous]

I dropped 3 points on my most recent with EX but 0 with EQ and TU.

[coffeegal]

@smarzig if you app for both in the same day, it is only one HP. Some say try for the charge card first, then the revolver. Not sure if that's necessary, but that's whst I did and it worked for me.

Good luck!

[Anonymous]

The revolver is the one where you can carry a balance or is it the opposite