+1. FICO scores everyone equally based on info on your CRs.
New accounts, assuming you already had a good mix of credit, most usually will drop your scores. Inquiry not so much. The damage varies based on your credit, impact to your AAoA, change in utilization if it first reports with a balance, etc. Why the drop? It's my understanding that FICO created the formula on the input from lenders. Lenders don't like to see new credit because most (not all) who seek credit are looking to add debt as you mentioned and most who add credit need it which shows a sign of financial weakness. It doesn't consider that maybe your existing cards might need to be replaced due to annual fees or maybe you are stuck with a CC that'll never increase the CL.
Thankfully the new damage is only temporary. Most of the damage will fade over the next 6 months and likely within a year (with all else being equal), there will be no negative ding from this new account.
