Will a store card decrease my fico score?

[Stephanie0319]

I recently applied for a Walmart credit card, I was instantly approved for 1200 cl. I have 3 major credit cards: Barclaycard, capital one, and Discover it. I have 2 installment car loan, which one been pay off. 15 student loan accounts, 5 of those been pay off. I was using myfico simulator I pressed if I got a store card. It states that my score would drop from a 716 to 693. I want to know if Walmart credit card calculated by fico count as a regular credit card or not? But when I put in get a new credit card it made my score rise to 725. Will Walmart credit card be considered a store card to the fico system.? I'm confused. Will this card decrease my credit score?

[Anonymous]

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@Stephanie0319 wrote:

I recently applied for a Walmart credit card, I was instantly approved for 1200 cl. I have 3 major credit cards: Barclaycard, capital one, and Discover it. I have 2 installment car loan, which one been pay off. 15 student loan accounts, 5 of those been pay off. I was using myfico simulator I pressed if I got a store card. It states that my score would drop from a 716 to 693. I want to know if Walmart credit card calculated by fico count as a regular credit card or not? But when I put in get a new credit card it made my score rise to 725. Will Walmart credit card be considered a store card to the fico system.? I'm confused. Will this card decrease my credit score?

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An inquiry deducts 3-5 points. Also it's changes your AAoA so your score may drop a few points there as well. Length of credit history accounts to 15% of your FICO credit score.

[SpiceIslander]

I was playing around with the FICO simulator a few days ago and here's what I found:

Apply for a 5000.00 credit card - Score decrease of 10 points

Apply for a store card - Score decrease of 15 points.

So....based on the simulator, store cards will decrease your FICO score beyond the inqiury & average age of account points.