Will 1 New CC Hurt My Score?

[Clyons0203]

I want to open a SECU credit card.  I only plan on using this car in extreme emergencies.  The main purpose of this card is so I can have it linked to my checking account for overdraft protection.

Will opening one new card hurt my score??

I only have two cards right now :

Orchard Bank - limit $250    Balance $0.00

Capital One - limit $700       Balance $36.00

[Anonymous]

If adding a new account hurts it will only be short term being that you have little to no utility...But hopefully the experts will advise also..

[Anonymous]

You may lose anywhere from few points to a handful of point to zero points for the new account and the inquiry, but within 6 months you should regain them and in a year you'll probably be better off after the status of the account is changed from "New Account" and the inquiry is no longer counted toward your FICO score.

All CRs are different and nobody can tell you exactly. With only those two cards I'd say that you are making a good choice going with a credit union.

What are your FICOs? CUs generally pull EQ...

[Clyons0203]

Exp 665

Tu 584 (probably a lil higher now)

Eq 621

[Anonymous]

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@Clyons0203 wrote:

I want to open a SECU credit card. I only plan on using this car in extreme emergencies. The main purpose of this card is so I can have it linked to my checking account for overdraft protection.

Will opening one new card hurt my score??

I only have two cards right now :

Orchard Bank - limit $250 Balance $0.00

Capital One - limit $700 Balance $36.00

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I would get one if it's ONLY for emergencies. On the up side, it will lower your util, which is good! =D

[Anonymous]

I got a Discover card not to long ago. The inquiry raised my score 4 points and when Discover report the new TL I got another 3 point bump. When Discover reported, they didn't report the credit limit and I still haven't received my card, maybe they will report all the info once I start using it and maybe my score will take a small tumble.