Question for the wise

[Anonymous]

Ok, help me to understand  credit cards. Lets say my credit score is 700 and I apply for two credit cards and they both inquires the same Bureau, what now? How low will my score will go. Lets say I apply for the Amex Blue and Discovery.

[Anonymous]

Not much... If you haven't had any other inquiries it may be slightly noticeable - but the rebound will come soon enough.

Rob

[Anonymous]

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Redamagon wrote:

Ok, help me to understand  credit cards. Lets say my credit score is 700 and I apply for two credit cards and they both inquires the same Bureau, what now? How low will my score will go. Lets say I apply for the Amex Blue and Discovery.

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Inquiries in my past have created a loss of 2 to 6 points.

Sorry for the lack in specificity in my last post.

Rob

Edited for spelling.

Message Edited by FICO_Focused on 08-16-2007 07:41 PM

[fused]

The new account may or may not hurt your scores. It's different for everyone. Some report big drops, little drops, no change, even score increases. A new account reporting might help with util% calculations but at the same time shorten the average-age of your accounts. There's really no way to know which way your scores might move and by how much.

[Anonymous]

In my credit report says 5 years credit age