For me, when I open an account I have no impact regardless of limit (already below 9%), the age (tons of accounts 5+ years reporting and the new one only chips about a month off), or the youngest account (I can’t seem to go 6 months without a new account so I’m already carrying the maximum impact from that). If a card is good for your lineup and you have a good chance of approval, go for it. The only time it’s really mission critical is when you’re preparing to get a house. You want to avoid any new accounts for at least 6 months at the bare minimum. Other than that - shop away!
To be honest im suprised there are still products available to you that CAN be new accounts haha. But I appreciate all the info! Its certainly interesting to see the difference between a young file like myself and what ill call a "heavy hitter" like yourself who can probably have a new account report every month and your file just eats it up and says please sir may i have another
Last four new accounts...I've lost between 3 and 0 points. I dont see much in terms of change in either direction.
Of course it's hard to penalize me for new account, as penalty is already in place.
Last year, after gardening for 13 months, I lost about 15 points for a new account.
So, it's really profile dependent for sure.
Very true, im sorry i never apped that amazon card for you remmy🙈 you were right i diiiid want it but i think the day after i made that thread the amex reported and it spooked me haha. Maybe in a month or two i can pick up something new- amazon or not😝
So my scores have been riding a rollar coaster the past 3 months and I had a thought. What is the typical hit "if any" you all get when your new accounts report? Me personally, my amex which i opened in May and reported in late july knocked me 30 points! Now 3 months later ive recouped about half of those points. Oh the joys of young credit. Figured this would be a good conversation we all can have
22- almost 23 year old college student
3 years of history
Disco 5k CL 3 years old
Amex BCP 2k CL 3 months old
AAOA: 1.8 years
Scores before amex app 790-810 fico 8
Current scores as of 8/7
Typically I have no impact at all from a new account.
LOL, I bet you don’t SJ! Your AoYA stays reset and you’ve got so many accounts to stabilize your AAOA! 😉
The pot calling the kettle black.
Look at you with your trendy new Apple card.