It depends on the thickness and age of your profile, but to keep things simple, opening a new account generally results in a temporary ding in one's credit score. But I wouldn't fret; your scores will re-boud with time. 
In the beginning stage of rebuild. Points deducted are a lot higher. Once your file becomes thicker. You may lose a alot less than what you got hit with. My last CC approval with a HP was a 1 point deduction on EQ and TU, EX nada. Once you get to 3 cards and establish a history of over 2 to 2 1/2yrs. The hits will be less and less. YMMV.
Unfortunately people come here mostly after the fact. They hit the internet and come here after something isnt right. And find out then what happened to their situation. You have enough cards to build off of at 3. Follow the AZEO method and time will give you your points back. Main issue is why are you in the 500's. There is a ton of knowledge here that can help you rebuild. 3 yrs ago I had the same scores as you after BK. Just need to know some background why you are where your at. And the gang can help you out. Either way Good Luck and welcome to the forum.