How did your new card affect your overall credit utilization?
Getting a new card gives you an inquiry which can cost points. It can also lower your AAoA which can cost points.
However a new CC can also give you a higher total credit line which can lower your overall credit utilization.
Does the service that provides your scores also give you your credit factors? If you make yourself a small graph you can track how these factor changes affect your scores.
I did this and it gave me a much better understanding of the process.
@Anonymous wrote:I was under the assumption that inquiries would either temproary lower your score or have no effect. I recently applied for (and got) a new credit card, and to my surprise, my Equifax FICO score went up one point (my other scores have remained unchanged). Just curious as to why the score would go up.
Because it was a trigger in the monitoring solution, something else was positive which wasn't captured, and the summation between the positive change, and the 0 or negative change for the inquiry resulted in a total positive score change.
Agree with Rev on this. Sometimes a positive can outweigh whatever negative was being factored in.
