Credit Card Apps w/o Hard Inquiry

[Anonymous]

So I was recently approved for Open Skyy which I absolutely love right now and Primor Bank. Neither of these banks cause a "hard inquiry" on your account and do not damage your cedit score during app process.  Open skyy actually uped my score like 40 points! My question is if I open the other card that I have been approved for will my credit score go down or does that only happen because of the hard inquiry? Will opening another account hurt me more than help me?

[Anonymous]

Without knowing much info. about your credit profile, it will be hard to answer the question.  So for better responses, tell the community a bit about your credit profile so that your question can be answered.

[Anonymous]

I have 1 open CC reporting 18% usage

1 CO card that I am trying to get closed and removed

1CO that I am paying down the balance

1 Collection that will be removed in a few days as per a PFD

2 collections that I am just going to let age. 

So if I get another card without any hardinquiry necessary will this increase my score or damage it?

[Aduke1122]

It is said to get the maximum scoring for fico you should have 3 revolving accts opened and one installment. And keep your usage under 30 percent but best to have all cards reporting zero and one card that reports less than 10 percent UTI .
That being said it's almost impossible to avoid new accts and HP when your building credit . What are your scores like ? There is a thing call the shopping cart trick you can seach it on here and read all about it but you won't be able to get those pre approval pop ups until your closer to 600 on scores . Hope this helps.

[Anonymous]

My goal is to qualify to buy a house i only need like 30/40 points...actually 25 points would make the goal attainable but I would like better interest rates...the score the mortgage people use has my median at like a 596. I can qualify for a FHA loan but with like 20 points i would have more options. So if I open this card and it reports I should be good in like 60 days if it reports positively? 

[Aduke1122]

Yes you may even see a bump from opening the 2nd new account like you did the 1st one , I know when I was first starting out I got 20 pt increases every time I opened a new acct , after my 3rd one it's started to decrease some but I just got a new car and I was afraid of the score decrease it was gonna cause and it increased like 10 pts lol. You just never know how it will affect you until it happens . But you really need more than one acct reporting to show good payment history and all also

[Anonymous]

That keeps my home owning dream alive! Thanks for your input. 

[Anonymous]

If your home goals are a year or more away you have nothing to worry about even with multiple inq. By then they don't affect your score at all and fall off at 2 years.

Your up-front obstacle is to get those letter sent out and work on those charge-offs