How much would applying for an AMEX BCE lower my scores?

[redsoxguy676]

My current credit portfolio is as follows:

Discover IT - 10k limit no balance.
BOA Cash Rewards - 2.5k limit no balance.
Chase auto loan originally for 12.5k that has a balance of 7.5k left to pay.

Fico TU score is 762 and Fico Experian score is 759.

I am looking at the possibility of applying for an AMEX BCE.

What would my credit score look like after applying if I were to get accepted?

[myjourney]

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@redsoxguy676 wrote:
My current credit portfolio is as follows:

Discover IT - 10k limit no balance.
BOA Cash Rewards - 2.5k limit no balance.
Chase auto loan originally for 12.5k that has a balance of 7.5k left to pay.

Fico TU score is 762 and Fico Experian score is 759.

I am looking at the possibility of applying for an AMEX BCE.

What would my credit score look like after applying if I were to get accepted?

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No way of knowing the answer to the question each persons file is different thus the results sorry

[FinStar]

There is no precise method to predict how much of a hit it would take, points-wise.  Generally, newer or thinner files would take a greater score hit than a much more established or thick CR file.  It really depends on your AAoA, utilization, inquiries, payment history, any derogatory info, etc., which are factored into the overall score.  There will be a hit with the inquiry and (if approved) when the new account reports.  Others who may have a similar profile may chime in to share what their outcome was.

[longtimelurker]

Yes, YMMV if you are looking for a precise figure, but with those scores, and one new account, I think the answer is "not a lot".    Ball park a single inq is usually less than 20 points (and often more like 5), it impacts AAoA but how much this matters depends on factors already mentioned, and it decreases utilization, increasing the score if you have any reporting balances.

So from ~750 I would be surprised if it went down by more than say 30 points, and probably less.   Also the impact goes away fairly quickly.

So if you are planning on getting a mortgage soon, don't app, but otherwise I wouldn't worry too much.  A good credit score is only good if you use it from time to time!

[youngandcreditwrthy]

It's likely a new acct and inquiry would cost you 5-10 pts
However, if you've been app free 1-2 years and only have 1-2 inqs, one inq could ding you 20-30 pts.